Japan's Bankruptcies Up With Small Firms Under Pressure

April 17, 2006
The number of corporate bankruptcies in Japan rose for the second straight month in March, a research firm said, warning that a number of small firms are still under deflation pressure. March saw 848 cases of bankruptcies leaving liabilities of at least ...

The number of corporate bankruptcies in Japan rose for the second straight month in March, a research firm said, warning that a number of small firms are still under deflation pressure. March saw 848 cases of bankruptcies leaving liabilities of at least 10 million yen (US$85,000) each, or more, across the nation, up 9.1% from 777 in February, Teikoku Databank said in a monthly report.

Combined liabilities left by collapsed firms last month jumped 45.7% from February to 473.96 billion yen.

"While major companies are on course to recovery thanks to the nation's economic pick-up, many small and medium-sized firms especially in local regions are still struggling to fight the impact of the lingering deflation," a research official said.

Copyright Agence France-Presse, 2006

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