Indochina or present day Vietnam,Cambodia and Laos and was occupied before the invasion of Malaya.In August 1940, Japan pressured the French government to allow Japanese forces to be stationed in northern Indochina, adjacent to the border with China. A year later the Japanese would have 40,000 troops stationed there. By September 1941, Japanese forces were marching into Saigon.
Japanese soldiers entering Saigon
There were two years in which these notes are issued.First issue was between 1938-1940 and the second issue was in the year 1942.These notes looks like the Military yen of the Japanese occupation of China and they both contain almost similar designs and currency unit.These are the issues of the invasion money and their respective date.