Fail badly like Japanese poems (6)

I believe the answer is:

tankas

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'japanese poems' is the definition.
The definition suggests a plural noun which matches the answer.

'fail badly like' is the wordplay.
'fail badly' becomes 'tank' (informal term meaning to fail financially. I am not sure about the 'badly' bit.).
'like' becomes 'as'.
'tank'+'as'='TANKAS'

Can you help me to learn more?

I've seen this clue in The Sunday Times and The Times.

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