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Wednesday April 11, 12:45 PMJapan bankruptcy debt hits 16-year low in 2006/07TOKYO, April 11 (Reuters) - The total debt of Japan's corporate bankruptcies hit a 16-year low in the financial year just ended, as the world's second-largest economy continued to improve, data from a research firm showed on Wednesday.The combined debt of bankruptcies in the year to March totalled 5.4 trillion yen ($45.3 billion), down 11.03 percent from the previous year to the lowest amount since 1990, data from Tokyo Shoko Research showed. There were 13,337 bankruptcies during the year, up 1.26 percent. In addition to the economic turnaround, greater support from Japan's government has helped keep bankruptcies on an overall downward trend, the research firm said. "In general, the decline in bankruptcies stands out," Tokyo Shoko said in a statement. In March, the total debt at firms that went bankrupt fell 4.79 percent from a year earlier to 488.7 billion yen. The number of bankruptcies edged down 0.63 percent from a year earlier to 1,247 cases. Compared with the previous month, the total debt left behind by failed firms rose 68.8 percent in March while the number of bankruptcies rose 13.15 percent. |
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