The number of corporate bankruptcies in the January-June period dropped 9 percent from a year earlier to 8,984, but it was the eighth highest since the end of World War II for a calendar first half, Teikoku Databank Ltd. said Monday.

It is the first January-June tally below 9,000 in four years, reflecting corporate efforts to avoid bankruptcy and an improved financing system in the public sector to support struggling businesses, the credit-research agency said.

Restructuring efforts and risk-averse business strategies are among the primary factors behind the decline in failures, which has also been clear in recent monthly data, Teikoku Databank said in a report covering corporate financial ruin involving debts of 10 million yen or more.