Japan has introduced its first new banknotes in two decades, incorporating 3D hologram technology to prevent counterfeiting. Prime Minister Fumio Kishida described this move as “historic” and expressed hope that the new 10,000 yen, 5,000 yen, and 1,000 yen bills would stimulate the Japanese economy.
Despite the introduction of these advanced notes, the older currency remains valid and necessary for certain transactions, such as vending machines and bus fares. The new 10,000 yen note features Eiichi Shibusawa, a key figure in modern Japanese capitalism, while the 5,000 yen and 1,000 yen bills feature pioneer feminist Umeko Tsuda and bacteriologist Shibasaburo Kitasato, respectively.
The reverse sides of the bills showcase Tokyo Station, wisteria flowers, and Hokusai’s iconic Mount Fuji artwork. The new design also includes larger print to assist Japan’s aging population.
The government plans to circulate nearly 7.5 billion new banknotes by March next year, with an estimated 1.6 trillion yen ($10 billion) being distributed initially. Although cash remains dominant in Japan, Bank of Japan Governor Kazuo Ueda emphasized the ongoing importance of cash for secure payments. The new bills will first be distributed to banks and financial institutions before reaching ATMs and retail outlets.