As part of their policy arrangements for launching a new coalition government, the Liberal Democratic Party, Liberal Party and New Komeito on Thursday agreed to consider redenominating the yen, beginning early in the 21st century.
The denomination change, which is seen as a way to boost the role of the yen as an international currency rivaling the dollar and the euro, was included in agreements the three parties have struck but not yet officially revealed, said Liberal Party Secretary General Hirohisa Fujii.
The redenomination plan, which would most likely be a double-digit reduction, was newly broached by Fujii during Thursday's tripartite policy coordination meeting.