(RTTNews) - The number of bankruptcies in Japan rose 28.7% year-on-year in December to 1,147 from 891 last year, a report by the Teikoku Databank Ltd said Tuesday. The report said the number of bankruptcies increased for the seventh consecutive month on a yearly basis. Month-on-month, the bankruptcies increased 13.6% from 1,010 in November.

Meanwhile, the total liabilities amounted to 596,774 million yen in December, representing an increase of 10.3% from a month earlier. Year-on-year, total liabilities climbed 44.7%, representing the fourth consecutive month of increase.

For the whole of 2008, the bankruptcies totaled 12,681,up from 10,959 in 2007. Bankruptcies rose 15.7% year-on-year in 2008, representing the second consecutive year of increase.

Elsewhere, the Tokyo Shoko Research Ltd. said in a report that the number of bankruptcies rose 24.1% year-on-year to 1,362 cases in December.

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