Strongbox Sales Soar as Cash Hoarding to Limit Japan Rebound

Japanese safe maker Eiko Co. says sales jumped more than 40 percent after the March earthquake and tsunami, a sign that consumers will hoard more cash at home and restrain an economic rebound.

“The television footage of the tsunami destroying everything in its path must have served as a warning for cash-rich people,” said Tsutomu Ishii, head of sales for the Tokyo-based company. “They have cash at home and they don’t want to leave it without any protection anymore.”