Almost half of Japan's cities, towns and villages and their malls and shopping streets are preparing shopping coupons that offer up to 20 percent in premiums, hoping beneficiaries of the ¥2 trillion cash handout program will spend the money there.
Municipal governments as of March 1 are planning to subsidize gift vouchers that will be issued at local stores. The coupons can be used only at the stores in a bid to spur private consumption and revitalize regional economies.
"The cash benefit program will be a landmark event. We rarely have such an opportunity, so we'd like to cash in on the scheme," said Yoshitaka Kaneko, managing director of the Nakano Broadway shopping mall in Nakano Ward, Tokyo.