Japan saw 6,401 companies go bankrupt in the first half of this year, down 9.4 percent from a year earlier and the lowest first-half level in 14 years, credit research agency Tokyo Shoko Research said Thursday.

The figures for the six months to June 30 marked the third consecutive decline on a first-half basis, highlighting improvement in businesses performance on the recovery of the economy, the agency said.

The government-backed assistance for midsize and small companies also helped decrease the number of bankruptcies.