Japan’s corporate failures off 5pc in Jul to 1,026 firms

The number of corporate bankruptcies in Japan last month declined 5.0 percent from a year earlier to 1,026, a credit research agency said Wednesday.

But liabilities left by the business failures more than tripled to JPY724.1 billion (USD9.21b) – the highest monthly figure so far this year – due largely to the sizable debts left behind by Sanko Steamship Co. and consumer credit firm Clavis Co., according to Tokyo Shoko Research.