The number of corporate bankruptcies in Japan dropped 16.8 percent in July from a year earlier to 1,151, down for the 19th straight month.
Teikoku Databank, a private-sector corporate credit research agency, said Friday in its monthly report covering failures with debts of 10 million yen or more that combined debts left by failed firms fell 13.6 percent to 605.34 billion yen, remaining below 1 trillion yen for the fourth month in a row.
The decline in the number of failures is mainly attributable to improved business performances in the private sector and a pickup in private consumption stemming from such factors as increasing demand for digital home electronics, Teikoku Databank said.