Japan to issue commemorative coins in support of reconstruction efforts
TOKYO (Kyodo) -- Japan will issue 1,000-yen and 10,000-yen commemorative coins in fiscal 2015 to investors holding bonds being sold next month to support efforts to rebuild areas hit by the March 11 earthquake and tsunami, the government said Tuesday.
The coins will be given to investors who purchased special government bonds sold to raise funds for reconstruction work, the Finance Ministry said.
Both coins will bear the design of the lone pine tree that survived the tsunami in Rikuzentakata, Iwate Prefecture, and doves. The tree, dubbed by residents the "miracle pine," has become a symbol of the city's reconstruction.
On that side the words "Gambaro Nippon" (Let's keep it up, Japan) will be inscribed.
The other side of the silver 1,000-yen coin will depict a large fishing ship and an ear of rice, while the other side of the 10,000-yen coin, which is gold, will show a map of the government's designated special economic zones in the disaster-hit areas and doves.
"I am hoping issuing the commemorative coins will further heighten the momentum in rebuilding efforts for the revival of Japan," Finance Minister Jun Azumi told a news conference.
The ministry said it will present the coins to individuals who purchased "reconstruction bonds" and based on their value three years after issue.
Some of the coins will also be sold to the public.
The government will issue the coins four times and publicly solicit designs from the second issue.
According to the ministry, one 10,000-yen gold coin will be given for every 10 million yen's worth of reconstruction bonds as of April 15, 2015. A 1,000-yen silver coin will be offered for every 1 million yen's worth.
Reconstruction bonds for individuals will be on sale at financial institutions nationwide from March 5 to 30. The bonds will be issued on April 16 with a 10-year redemption period.
The interest rate for the first three years will be 0.05 percent. It will become a floating rate from the fourth year, reviewed every six months.
(Mainichi Japan) February 21, 2012
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