More than three decades after "Sesame Street" was first broadcast in Japan in 1971, the program will for the first time involve Japanese directors and artists in a bid to reach the show's intended audience: children.

Private broadcaster TV Tokyo said Monday it will air a new version of "Sesame Street," coproduced by U.S. and Japanese staff, around October. Public broadcaster NHK will terminate the U.S. version of the show April 4.

By targeting Japanese preschool children, the new show could unearth a multibillion-yen market, through apparel, stationery, toys, software and foods featuring Sesame Street's cute, furry muppets, executives of sponsor companies said.