Two weeks ago, post offices and financial institutions began taking orders for new Japanese government bonds targeted exclusively at individuals and set to go on sale March 10. Post offices immediately booked sales for all 50 billion yen worth of bonds they were entrusted with, and the remaining 280 billion yen was quickly scooped up as well.
The government, which is saddled with enough debt to stop an asteroid in its tracks, is understandably grateful for the response -- and perhaps a little surprised. Individual Japanese investors might as well belong to a secret members-only club, considering how few and quiet they are. Several years ago the government launched an advertising campaign to get more individuals interested in buying regular bonds, but it wasn't successful.
That campaign featured Keiko Takeshita, a former idol who has since become a successful actress and talent with a down-to-earth, housewifely image. The campaign for the new 10-year government bonds, which began in December, features young actress Koyuki and veteran kabuki star Matsumoto Koshiro.