More than 66 million integrated circuit cards are expected to be in circulation in Japan by the end of this fiscal year, up 91 percent from a year earlier, Yano Research Institute said Tuesday.

The think tank said its survey of 44 companies and organizations found that the number of IC cards will continue to grow, reaching 160 million in fiscal 2005 and 420 million in fiscal 2010. The survey was conducted between May and August.

The IC cards will probably be used extensively in financial businesses, the institute said.