(RTTNews) - Corporate bankruptcies in Japan fell for the first time in three months in August, data released by the Tokyo Shoko Research Ltd. showed Tuesday.

Business failures dropped 1% year-on-year to 1,241 cases in August. It follows a 1% increase in July. Total liabilities amounted to JPY 284.21 billion

But, a separate report showed continuing increase in bankruptcy cases, though at a smaller pace. Such cases rose 2.4% year-on-year to 1,042 in August, the Teikoku Databank Ltd. said. In July, the number was 1,204.

The firm also said debt left behind by insolvent firms declined 66.2% year-on-year to JPY 275.34 billion. In July, the amount was JPY 340.5 billion.

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