Business / Economy

¥1, ¥5 coin output resumes for tax

Kyodo

The Finance Ministry is considering resuming production of ¥1 and ¥5 coins for circulation in fiscal 2014 in anticipation of increased need when the consumption tax is raised to 8 percent next April, officials said.

New ¥1 coins were last produced for circulation in fiscal 2009 and ¥5 coins in fiscal 2008 as the spread of electronic money and credit cards reduced demand. One million coins of each type were to be produced for collectors this fiscal year.

When the consumption tax was first introduced in 1989, there was a shortage of ¥1 coins.

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