The number of corporate bankruptcies in Japan totaled 9,372 in the January-November period, making it likely that the figure for 2025 will surpass 10,000 for the second consecutive year, local media reported.

Bankruptcy cases, involving debts of at least 10 million yen (about 64,500 U.S. dollars), dropped 7.5 percent from the previous year to 778 in November, Kyodo News reported, citing a survey by Tokyo Shoko Research.

Meanwhile, total liabilities fell 48.6 percent to 82.4 billion yen as bankruptcies involving liabilities of 500 million yen or more halved, according to the credit research company.

By industry, the services sector saw the highest number of business failures in November at 250, though it was a 17.8 percent decrease compared to the same period last year. Small businesses were hit in particular by rising prices and worker shortages, the survey showed.

Inflation-linked bankruptcies reached 700 in the January-November period, a 7.4 percent increase, as the weak yen pushed up prices of food, energy and other essentials.