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Corporate bankruptcies fell 16.1 percent in January from a year earlier to a total of 1,205, marking the 13th consecutive month of decline, Teikoku Databank Ltd. said Monday.

Combined debts left by the failed companies dropped a sharp 62.8 percent to 453.55 billion yen, falling below 500 billion yen for the second consecutive month, the credit research firm said in a report covering failures involving liabilities of 10 million yen or more.

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