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TOKYO, Nov 15 (Reuters): The number of Japanese corporate bankruptcies rose 4.1 per cent in October from a year earlier to 1,171 cases, a research firm said today, but the amount of debt held by defunct companies declined by a fifth.
Bankruptcies increased in year-on-year terms for the third time in five months after falling for 33 consecutive months to May amid an improving Japanese economy and healthier corporate earnings.
Small firms accounted for most of the rise in bankruptcy cases, Tokyo Shoko said, adding the number of failures in October was still the second-smallest for that month in the past 10 years after last year.
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