Japanese Corporate Bankruptcies Fall Slightly

The figure fell in 1993 for the first time in three years, but a record 60% of the cases were caused by recession, a private credit research organization said. Teikoku Data Bank Ltd. said bankruptcies by companies with liabilities of more than $90,000 fell 0.9% from a year earlier, to 14,041 cases. Of those, 8,534 cases resulted from poor sales, slumping exports or other causes linked to Japan’s 3-year-old recession, the bank said. Meanwhile, the number of bankruptcies caused by falling prices of land, stocks and securities fell 29.6% to 989.