Japan is expanding efforts to attract buyers to the nation's growing debt load, flooding the backs of taxi cabs for the first time with pamphlets in the hopes of getting retirees to invest more money in bonds.
"Government bonds are worth another look," the Finance Ministry says in its latest advertisement, which features a picture of 37-year-old Junko Kubo, a former anchor on NHK. Individuals can buy government debt at local banks for as little as ¥10,000, according to the ads. The ministry is hawking the bonds on its Web site with the slogan, translated from Japanese, "Peace of mind. Piece of happiness."
"We are targeting those people with money for retirement," said Masaaki Kaizuka, director of debt management policy for the government in Tokyo.