Japan will begin issuing new banknotes on Wednesday and tout them as the world’s first to feature cutting-edge holography, with portraits of historical figures appearing to rotate in 3D on the notes as an anti-counterfeiting measure.
The first design change in 20 years will see the numbers on the 10,000 yen, 5,000 yen, and 1,000 yen notes become larger than the current ones, making them easier to recognise by people of all ages and nationalities.
A file photo taken at the Bank of Japan headquarters in Tokyo in April 2023 shows samples of the new banknotes that are scheduled to be issued from July 3, 2024. (Kyodo News)
The tactile markings allow visually impaired people to know by touch which banknote they are holding.
Shibusawa Eiichi (1840-1931), who contributed to the establishment of approximately 500 companies and is known as the “father of Japanese capitalism,” will be featured on the 10,000 yen note, while the red brick building of Tokyo Station will be featured on the back.
The 5,000 yen note will feature Tsuda Umeko (1864-1929), an educator who devoted her life to improving the status of women. The reverse side will feature the wisteria flower, which has been loved in Japan since ancient times.
The 1,000 yen note will feature a portrait of Shibasaburo Kitasato (1853-1931), a microbiologist known as the “father of modern medicine in Japan” for his contributions to the treatment of tetanus. The reverse side will feature “Under the Great Wave off Kanagawa,” a work by ukiyo-e artist Katsushika Hokusai depicting a large wave and Mount Fuji.
A hologram image of Eiichi Shibusawa, who will be printed on the new 10,000 yen note to be issued on July 3rd, was taken at the National Printing Bureau’s Tokyo plant on June 19th, 2024. The image appears to rotate depending on the viewing angle. (Kyodo News)
The government says about 7.5 billion new banknotes will be printed by the end of March next year. Existing banknotes will remain valid even after the new notes are introduced.
Japan will have 18.54 billion banknotes in circulation as of the end of 2023. According to data from the Bank of Japan, if all the banknotes were laid out horizontally, they would be eight times the distance between the Earth and the Moon.
The new notes come as cash-loving Japan seeks to promote cashless payments, which are on the rise but still short of the government’s target of around 40% by 2023.
As of 2021, such payments accounted for more than half of the total in the UK, Canada and the US, as well as China, Singapore and South Korea, according to data from the industry group.
