Organizers for the Pan Pacific swimming championships in Yokohama this summer said Tuesday that 1 million yen in prize money will be awarded to swimmers breaking a world record or Japanese swimmers who snare a gold medal in the meet.

It will be the first time that prize money will be at stake for an international swimming competition in Japan.

The championships are slated for Aug. 24-29 at the Yokohama International Pool.

Organizers also said 1 million yen would be awarded for the outstanding competitor each day.