Regional Revitalisation
with Electronic Local
Currency ‘Yuhi (SunsetCoin)’

Nishiizu Town

Background and Reason for the Project
Nishiizu is a small town located on the mountainous

Project Outline

west coast of the Izu Peninsula in Shizuoka Prefecture.

An electronic local currency to restart the local

Surrounded by the sea and mountains, Nishiizu has aeconomy of Nishiizu Town was introduced.

population of 7,127.

Upon introduction, a QR code cashless payment card

The fishing industry here flourished due to the natural(which can be converted into an e-card on aabundance of seafood in Suruga Bay, and the intricate

smartphone app) with 10,000 yuhi* (1 yuhi = 1 yen)coastline made the area a popular tourist destination.

points per person were distributed to all town

However, due to the area’s geography, it isresidents. Applications for a fixed grant via post andinconvenient to get here, and an aging local population

the online application for the payment card weremeans there is a lack of successors for local businesses.

accepted at the same time as in-person applications

This in turn has caused both the fishing and tourism

were not being accepted to prevent the spread ofindustries to fall into marked decline.

COVID-19. By starting this electronic local currency,

Most spending in Nishiizu mainly comes from external

along with promoting the use of cashless payments bysources such as tourists, but nowadays the town is very

local residents and the acquisition of individual

quiet apart from summer which is the peak tourist

Number Card Points, it also acted as a preventive

season.

measure for the spread of COVID-19 as users and store

With the spread of the COVID-19, Nishiizu could nostaff no longer had to handle hard cash.

longer rely on income from tourism.
*yuhi means “sunset” in Japanese

If something was not done to promote spending in thetown, the local stores would have gone out of business.
Faced with this crisis, Nishiizu devised a plan for anFeatures and Innovations

electronic local currency that could only be used within

At the beginning of its introduction, project members

the town.

considered about how they might popularize
electronic payment despite having an aged population

Project Aims

and came to the conclusion that getting residents toIn order to support the local economy and stimulate

use the currency and feel for themselves how

definite demand in the local economy which grew

convenient it can be would be the best tactic. In orderstagnant due to the COVID-19 pandemic, the yuhi, orfor this to happen, they had to distribute cards charged‘Sunset Coin’ was introduced.

with 10,000 yuhi to approximately 7,700 residents.
1

The budget for introducing the currency waspartner businesses was a strong reason for the high77,000,000 yen for the initial distribution of 10,000

number of applicants.

yuhi per resident. Additionally, with the device (e.g.

Carrying out a payment in-person is very simple. All thesmartphone) fees and transmission fees for making

business has to do is scan the customer’s yuhi coin QR

payments at local businesses, the TRUST BANK

code using the dedicated app downloaded to thecompany’s system usage fee and card issuing fees, asmartphone they are using as a payment device.

total of 87,900,000 yen was secured for the launch.

This way, even businesses that are unfamiliar with

It is now in its third year since its introduction, andsmartphones etc. can easily process payments.

various yuhi coin projects are being implemented toIn addition, the project asks partner businesses tosupport the lives of local residents and theprovide unique services such as discounts and drink

management of businesses.

services as an added value for residents using yuhi

As for the initial introduction timeline, the launch wascoin. Currently, there are only a few stores that provide

decided on with the goal of restarting the local

this service, but it is essential for this project to be able

economy following the rise of COVID-19 cases in April

to operate independently without local or nationaland a consequent call on restaurants etc. to refraingovernment support to be continually requested of by

from business.

the partner businesses.

First of all, in order to secure businesses that would

Payments from the local government to each businesstake part in the project, widespread recruitment

owner are calculated and paid to them twice monthly.

efforts were made and a project team was set up withIn addition, the amount charged to cards using cash at

the cooperation of local government staff. 50 people,partner businesses is calculated and paid to the local

ranging from managers to young employees joined thegovernment in cash twice monthly.

project team, directly explaining to and supporting therestaurants and small businesses who were potential

Results of the Project

partners in the project. This resulted in applications

One of the outcomes of the project is that due to thefrom approximately 100 businesses.

electronic currency only being accepted within

At the same time, smartphones to be used as aNishiizu Town, spending is definitely done locally,payment device were purchased, set up for use, andsupporting circulation of the local economy.

given to businesses with an explanation on how to use

Additionally, the QR code method of using thethem.

currency is easy and can be enjoyed by everyone from

By doing this, the team managed to the environment

children to the elderly. Because of this, this is a veryneeded to allow residents to start using the newsuitable starting point to continue to carry out many

currency. Yuhi coin cards were distributed to residents

kinds of digital projects in the future.

from May 18th 2020.

Furthermore, especially considering the current

There were 100 partner businesses in the beginning,

pandemic, electronic currency is more hygienic thanbut that number has now grown to 150 throughcash payments.

repeated recruiting efforts.

Since the project is implemented by the local

Since the currency’s launch, the project has notgovernment, it is possible to reap the highest benefits

charged any fees to the partner businesses for using

possible by providing various administrative services

the service, while still allowing the smartphones asusing the yuhi coins.

payment devices and continuing to pay theAs for the economic outcome, the amount used in thetransmission costs. Having zero financial burden on

fiscal year of 2020 was 220 million yen, in the fiscal
2year of 2021 it was 250 million yen, and in the fiscal

volunteering instead of giving monetary compensation.

year of 2022 it was 510 million yen (as of September).
used was the implementation of an extensive points

Future Developments (expected
project vision and issues)back campaign this fiscal year.

This way, electronic local currency will be able to help

The points back campaign was designed to give backin the development of various businesses according topoints for points used by customers. It is expected to

the region and lifestyle, and can provide immediate

have a strong positive effect on the economy bysupport to residents and businesses. Nishiizu Town will

increasing a willingness to spend among consumers.

continue to implement projects that allow everyone to

There is currently a 10% point back campaign for theuse yuhi coins in a fun and convenient way.

The reason for the dramatic increase in the amountresults,amount used, which is proving to be highly effective insupporting residents in their daily lives and businesses

Reference URL

management in response to social change such as

Sunset Coin Projectrising prices.

https://www.town.nishiizu.shizuoka.jp/kakuka/kankou/syoukou/yuhicoin.html

Issues, Problems and Responses
Under this system, out of the 510 million yen used,

10% Points-back Campaign

about 50 million yen was spent by the local

https://www.town.nishiizu.shizuoka.jp/forms/40/714.

government, and the remaining 460 million yen washtml

spent by users. There is a budgetary limit to the points
provided on a national, prefectural, and town level. AsContact

with this project, Nishiizu Town will continue toAffiliation: Nishiizu Town, Town Development Section

consider how to bring about maximum economicTel.: +81-558-52-1966

improvements with a small budget as this is an

Email: shoukou@town.nishiizu.shizuoka.jp

important issue.
In addition, the project team is also implementing aTerminologies and Coined Terms Used

project to gift yuhi coins to those who participate in

Ask about any term that is unclear.

volunteer activities in order to maintain the spirit of3