Recof, a Tokyo-based company that facilitates corporate mergers and acquisitions, released its statistics for that activity in the Kyushu-Okinawa Prefecture region for FY 2008. There were 113 during that period, which represents a sharp 25.7% drop from the previous year. It is also significantly higher than the 11.6% decline for the nation as a whole. The expenditures required for the mergers and acquisitions totaled 60.8 billion yen, a whopping 84.2% year-on-year decline. It is the lowest level in the latter category since 1999. One possible cause cited for the decline is the higher levels of corporate wariness since the bankruptcy of Lehmann Brothers last year.