Japanese Corporate Bankruptcies are Down
The number of corporate bankruptcies with $100K more in debt are lower now in Japan than they have been in 10 years.
The total amount of debt that had to be written off is down as well.
In 1996 Japan saw 14,859 companies go belly up and write off $91.896 billion.
However, the number of companies biting the dust annually peaked in 2001 with more than 20,000 companies going down the tubes.
The year previous to that saw the greatest debt being erased at nearly $260 billion.
The latest year for available figures was 2004 – just 13,276 companies had to call it quits and they wrote off abt. $70 billion…another ten year low.
This is yet more evidence that Japan’s economy is back.
What do you think?
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July 25, 2006
its hard to comprehend 20,000 companies going under. so what really happens to all that money that has not gotten paid back yet? you can’t really just erase it.