The number of corporate bankruptcies in Japan fell 23.8 percent in February from a year earlier to 1,208, marking a 14th straight month of decrease, Teikoku Databank Ltd. said Friday.
Combined debts left by the failed companies dropped 28.9 percent from the previous year to 1.1 trillion yen, but exceeded 1 trillion yen for the first time in three months, the credit-research company said in a report covering bankruptcies involving liabilities of 10 million yen or more.
The debt amount is the fifth-largest postwar total for February, reflecting the large-scale failures of golf course operators and real estate companies during the reporting month, Teikoku Databank said.
Teikoku attributed the year-on-year decrease in the number of bankruptcies to public assistance for small and midsize businesses, as well as to risk-avoidance strategies adopted by a number of companies and fewer credit transactions.
By industry, falls in the construction sector were prominent, with a 29.7 percent decline.
The Kinki region of western Japan showed a significant fall, at 30.2 percent.