The Ministry of Finance plans to directly sell 10-year government bonds to individuals through the Internet from as early as fiscal 2003, which begins in March next year, ministry officials said Saturday.
The ministry hopes the move will facilitate increased sales of government bonds to individuals. It plans to start issuing the bonds in January 2003.
The minimum lot of government bonds for individuals will be reduced from the current 50,000 yen to 10,000 yen.
The ministry will study a system in the United States where direct sales of government bonds are already conducted online and will consider ways to prevent problems with identity verification and settlements.
The ministry is seeking ways to make government bonds more accessible to individuals in light of the planned increase in their issuance.
In fiscal 2002, it will issue 300 billion yen worth of bonds for individuals, but will increase the amount by between three and four times that total in fiscal 2003.