Japan's corporate bankruptcies down 8.7% in fiscal 2009

15:00, April 08, 2010      

Email | Print | Subscribe | Comments | Forum 

The number of corporate bankruptcies in Japan in fiscal 2009 fell by 8.7 percent compared to the previous year, according to data released on Thursday by Tokyo Shoko Research (TSR).

Some 14,732 companies declared bankruptcy in fiscal 2009, compared to 16,147 in the previous year. The overall cost of the bankruptcies was also down by 49 percent.

It was the first time in four years that the number of companies to go bankrupt in Japan has decreased, and the first time that the liabilities left behind had fallen in three years.

The company said that it believed the reason for the decrease in the number of companies going bust was the stimulus measures but in place by the government to fight the economic downturn, which made it easier for struggling entities to borrow money to stay afloat.

The data from TSR also showed that the number of bankruptcies for March was down 14.5 percent from the previous year, to with 1, 314 firms going bust.

The data came on the back of Bank of Japan (BOJ) Governor Masaaki Shirakawa' Wednesday saying that he believed there were signs that the nation's tentative economic recovery, currently supported by stimulus packages, was showing signs of moving toward becoming self-sustaining.

The government last month also upgraded its assessment of the economy, amid generally positive data in most areas of the economy.

Japan is recovering from a severe downturn in the aftermath of the credit crisis that started in the latter half of 2008 in the aftermath of the collapse of banking giant Lehman Brothers.

Source: Xinhua


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based eastday.com reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
Hot Forum Discussion