Bankruptcies in Japan fell last month for the first time in a year, raising hopes that the government's emergency stimulus measures are helping to ease the effects of the global crisis.
The number of company failures in May declined 6.7 per cent year-on-year to 1,203, the lowest level in a year, according to Tokyo Shoko Research, a credit and market research group.
The statistics follow other encouraging signs that the economy may be over the worst and that financial markets are recovering.
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