 As the inflow of coins from Ming China disrupted in the latter half of the Japanese economy during the 16th century, rice, gold and silver served as a medium of exchange and evaluating monetary value.During the Tokugawa period, the Japanese rice-based feudal economy grew significantly as a stronger emphasis on agricultural production led to greater economic output.In addition, Japan's commerce and manufacturing industries began to expand which led to an increasingly influential merchant business elite, handling and distributing goods and services and enabling them to pursue new opportunities for creating businesses.