Business Failures Down in Japan

The number of Japan’s business failures dropped for the 59th consecutive month in November to a new monthly low for this year, a private credit research agency reported today.

Teikoku Data Bank Ltd. said 515 companies declared bankruptcy last month, down 36.9% from a year ago and down 12.4% from October.

The amount of debt totaled $599 million, down 65.4% from a year ago and down 19.2% from October, the agency said.

The company said bankruptcies attributable to the tight labor market caused by the booming domestic economy decreased to nine from 14 in October.