Japanese bankrupt creditors owed 130 billion dollars.

The number of corporate bankruptcies in Japan in 2008 grew by 15.7 percent, reported Agency France Presse, referring to a study Teikoku Databank.
Only last year in Japan obankrotilos more than 12.6 thousand companies, and their total debt amounted to 133 billion dollars. This is more than two times higher than in 2007. The majority of bankruptcies occurred in the transport and construction sector, the largest economy of Asia. Only in December 2008 in Japan was recorded 1147 bankruptcies, which is 44.7 percent more than in 2007
The reason for sharply increasing cases of financial insolvency of Japanese firms has been a dramatic decline in lending by Japanese banks.
At the end of the third quarter of 2008 GDP fell by 0.4 per cent, while the prior quarter - to 2.4 percent. Thus, the Japanese economy entered a recession for the first time since 2001.