1999 Japan Bankruptcies Set Record

Thursday, June 22nd 2000, 12:00 am
By: News On 6

TOKYO (AP) — Personal bankruptcies in Japan rose to an all-time high in fiscal 1999 as the nation's economic slump led to near-record unemployment, Kyodo News agency reported Thursday.

Individual bankruptcies increased by about 19,000, or 18.3 percent, in the year that ended March 31, rising to 122,741, according to data released Thursday by the Supreme Court.

It was the fourth straight record year for personal bankruptcies, Kyodo said.

Supreme Court officials were not available for comment Thursday night.

Japan's economy is showing signs of recovering from a decadelong slump that sent corporate bankruptcies and unemployment soaring.

``I think for ordinary people, economic recovery has not been realized,'' Kyodo quoted Kiyoto Akiyama, a lawyer and personal bankruptcy expert, as saying.