Japan's New Bank Notes Causing Headaches for Businesses

   Tokyo, June 29 (Jiji Press)--The debut of new bank notes in Japan, set for Wednesday, is causing headaches for restaurants and other businesses in the country.
   Fukumen Tomo, a ramen shop in Tokyo, spent about 300,000 yen to replace ticket machine parts in May to accept the new 10,000-yen, 5,000-yen and 1,000-yen notes.
   Tomonori Oikawa, the 53-year-old owner of the shop, complained that the notes are issued at the discretion of the government, but that there is no subsidy from it. "Bearing the full cost is financially difficult."
   Oikawa is considering the possibility of raising menu prices to cover the cost, but he is concerned that such a move may alienate customers.
   Some local governments are providing aid to businesses so that they can handle the new bank notes. Starting Monday, Tokyo's Katsushika Ward will provide small businesses with subsidies of up to 300,000 yen to cover half of the cost of purchasing ticket machines compatible with the new notes.

(2024/06/29-12:22)

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