Corp Bankruptcies Fall 11.8% On Year In Feb

TOKYO (NQN)--The number of companies that entered bankruptcy with debts of at least 10 million yen fell 11.8% on the year to 916 in February, marking the fourth straight month of decline and the lowest reading for the month since 1994, Tokyo Shoko Research Ltd. reported Friday.

Liabilities plunged 72.8% to 171.97 billion yen, falling for the third straight month. The slide came in reaction to the huge debt held by Elpida Memory Inc. in February 2012, the largest ever recorded in the manufacturing industry.

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