TOKYO — When millions of Japanese get their customary New Year's greeting cards Thursday, the sheep that's on the postage stamps will have finished knitting the scarf it began 12 years ago.

Apple today announced the upcoming launch of its annual New Year promotion in Japan, providing customers with a free Apple gift card worth up to ¥30,000 with the purchase of eligible Apple devices.

After a price hike in October, a basic New Year's postcard costs 85 yen ($0.5), up from 63 yen for the previous year. Japan Post Co. set its initial issuance of the greeting cards to 1.07 billion ...