New Banknotes to Debut in July for the First Time in 20 Years

Jun 04, 2024 | News On Japan

TOKYO - Japan will introduce new banknotes in July for the first time in 20 years, featuring Shibusawa Eiichi on the 10,000 yen note, Tsuda Umeko on the 5,000 yen note, and Kitasato Shibasaburo on the 1,000 yen note. However, the change poses challenges for vending machine replacements.

The new 5,000 yen note features Tsuda Umeko: 'We will soon be the faces on the banknotes.'

The new 1,000 yen note features Kitasato Shibasaburo: 'It's exciting to see a new design after 20 years.'

The new 10,000 yen note features Shibusawa Eiichi: 'The new notes will be issued starting from the 3rd of next month.'

The 1,000 yen note honors Kitasato Shibasaburo for his contributions to medical science. The 5,000 yen note commemorates Tsuda Umeko, a pioneer in women's education. The 10,000 yen note celebrates Shibusawa Eiichi, the father of modern Japanese economics.

NTV reporter Hiroshiba Manabu demonstrated the new 1,000 yen note: 'When you tilt this part, the design changes.'

The new banknotes incorporate advanced anti-counterfeiting technologies, including designs that change when viewed from different angles. The transition to these new banknotes is imminent.

After five years of preparation, the new banknotes are ready to be issued. However, a recently opened ramen shop faces challenges with its ticket vending machine.

Miura Shuhei, owner of Menya Bukotsu, said, '(Replacing the vending machine) won't be done in time, so I might just go with it as it is. We can temporarily accept the new banknotes and exchange them for old ones at the store.'

The cost of a new vending machine is at least 600,000 yen, posing a significant burden for businesses.

Miura added, 'I thought, "Here we go with more expenses." Changing the machines doesn't directly impact the business or the store, so it feels like we're spending money on something unnecessary.'

Can the new banknotes be used immediately in the numerous vending machines around the city? A major beverage manufacturer commented, 'We started preparing for the replacement of vending machines in January this year, but it will take two years to replace all of them.'

With just one month left until the new banknotes are issued, we are now in the era of cashless transactions. What does the future hold for our evolving relationship with money?

Source: YOMIURI

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