Corporate bankruptcies in Japan rose in April for a fourth straight month, a private research agency said Thursday.
The number of companies going bust rose 0.6 percent from the same time last year to 1,631, according to the report by Teikoku Databank. Bankruptcy debt shot up nearly 22 percent to ?1.480 trillion (US$11.5 billion).
The figures reflect worsening conditions for business in Japan as the country struggles to shake an economic slump that has lasted for more than 10 years, beginning with the collapse of property and stock prices in the late 1980s.
``The only support for the domestic economy is exports, led by the US economic recovery,'' Teikoku Databank said.
The agency warned that companies will not fully recover until consumer spending increases, capital investment rises, and the disposal of bad loans is stepped up. The April figures show a slight month-on-month improvement from March.
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