RTTNews - Japan's corporate bankruptcies rose 1% year-on-year to 1,386 cases in July, the Tokyo Shoko Research said Monday. It followed a 7.4% increase in June.

Bankruptcies rose for the second consecutive month in July following a decline in May.

According to the firm, the size of the debts involved fell 44.2% to JPY 371 billion, the least in this year.

On a monthly basis, the number of bankruptcies dropped 2.5% in July and total debt fell by 22.2% to JPY 477.1 billion.

There were 216 bankruptcy cases in the manufacturing sector, up 16.1% from the previous year.

Also on Monday, reports said citing data released by the Teikoku Databank that corporate bankruptcies rose 6.5% year-on-year to 1,294 in July, significantly slower than an increase of 21.5% recorded in June.

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