Corp Bankruptcies Fall 1st Time In 4yrs In 2009

The number of companies entering bankruptcy with debts of at least 10 million yen edged down 1% to 15,480 in 2009, marking the first decline in four years, according to the major credit reporting agency, Tokyo Shoko Reserch, LTD. The reasons for the decline was emergency guarantee programs and public works projects. The number of bankruptcies in December fell 16.5% year on year to 1,136, marking the fifth straight month of decline.