JAPAN

Bankruptcy Debt Skyrockets: Total debt of the nation’s bankrupt companies soared 123.5% in April from a year ago to $10.04 billion, pushed up by the continuing effects of the Kobe earthquake and the strong yen, a private research company said. The debt figure climbed from year-earlier levels for the third straight month and is the third-largest for the month of April, Tokyo Commerce & Industry Research Co. said. The number of bankruptcy cases in April rose 10% from a year earlier to 1,353. The upward trend began after the January earthquake, which was directly responsible for 27 business failures last month, and has been rising steadily, TSR said.