The government has been considering the possibility of arranging for Crown Prince Naruhito to ascend the Chrysanthemum Throne on Jan. 1, 2019, allowing his father, Emperor Akihito, to abdicate, according to a government source.

Under that scenario, a new era — with a new name — would start, as one is declared for the reign of each emperor under law, the source said Tuesday. The current Heisei Era, meaning "achieving peace," commenced on Jan. 8, 1989, the day after Emperor Hirohito, posthumously known as Emperor Showa, passed away.

The idea is being floated as a way to limit the impact of changing era names on people's lives by applying the new one at the start of 2019, according to the source.