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Teikoku Databank Ltd reports that corporate bankruptcies in Japan surged by 22.7% in October compared to the previous year, with the debts left by the insolvent companies increasing by 1,253.4% to a new post-war high, driven by the collapse of two mid-sized life-insurance companies. The data also showed that the number of cases rose by 13.9% from September to 1,711, with total liabilities increasing by 1,005.8% to ¥8.561tn ($80bn), surpassing the previous post-war record of ¥4.264tn set in July.
Tuesday, 14 November, 2000