Corporate bankruptcies are up more than 30 percent in Japan this year as firms struggle to deal with the strong yen.

Credit research firm Teikoku Databank says 79 companies with debts of 10 million yen, or about 130,000 dollars or more, attribute their failure to the strong yen.

The figure, which covers January through December 21st, is up 36 percent from 2010.

The research firm says the failed businesses suffered a drop in exports and domestic orders, as their products became more expensive than foreign equivalents.

Source: http://www3.nhk.or.jp/daily/english/20111226_11.html

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