JAPAN

14,000 Firms Forced Into Bankruptcy: Japan’s sluggish economy pushed more than 14,000 firms into the black hole of bankruptcy in 1992 and may swallow even more this year, economists said. The Tokyo Commerce & Industry Research Co. said the total number of bankruptcies in 1992 rose by nearly a third from the previous year to 14,069. An even greater number is expected in 1993, it said. Total debts left by bankrupt firms fell slightly to 7.60 trillion yen ($60.8 billion) in 1992, but remain at a very high level, he said. Japan’s growth has been faltering since its economic bubble burst in the late 1980s, and there are few signs of recovery. TCIR data showed a sharp increase in failures of companies in the advertising, travel and leisure, food and software sectors. Construction firms were hardest hit, with 3,023 failures.