Friday, November 9, 2007

Explosive Savings

Japan's toy giant Tomy employee displays a cubic moneybox with LCD display "Bank of Life", only for Japan's 500yen (5 USD) coin and to save up to 100,000 yen (1,000 USD) in the box. The piggy bank "explodes" and scatters coins if users fail to save for a long time.(AFP/File/Yoshikazu Tsuno)

TOKYO (AFP) - Greying Japan has a new weapon to scare people into saving for their retirement -- an exploding piggy bank.

The "Savings Bomb," which goes on sale in Japan next week, "explodes" and scatters coins if users fail to save for a long time, toy manufacturer TOMY Co Ltd said Thursday.

The battery-powered toy -- designed as a cartoon-style, ball-shaped black bomb with a skull and crossbones logo -- lights up, makes a noise, shakes violently and scatters coins if it is not topped up for a long time.

"Users must pick up and collect the scattered coins and reflect on their laziness," the Japanese company said.

Japan has the world's oldest population and one of the lowest birthrates, raising fears of a future demographic crisis with a smaller pool of workers financially supporting a growing number of elderly.

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