The figure, covering bankruptcies involving liabilities of 10 million yen or more, marked the eighth consecutive year of decline, as corporate earnings and balance sheets improved thanks to the yen's drop and a moderate recovery of the country's economy, according to the private credit research agency.

No listed company went bankrupt, for the first time in 26 years, while financial institutions permitted debt rescheduling for many small companies.

The number of bankruptcies dropped in seven of the 10 industry sectors covered by the survey, including manufacturers such as exporters, many of which are enjoying brisk earnings. (Jiji Press)