(CTN News) – Japan will start issuing new banknotes on Wednesday, July 3, 2024, showcasing what it touts as the world’s first use of cutting-edge holography that makes the portraits of historic figures look like they are rotating in 3D on the bills.
This marks the first design change for Japanese banknotes in 20 years.
The new 10,000 yen, 5,000 yen, and 1,000 yen bills will feature larger face value numbers printed on them compared to the current versions, making them easier for all people to recognize regardless of age or nationality.
Additionally, tactile marks will allow visually impaired individuals to identify which banknote they are holding.
The 10,000 yen note will feature a portrait of Eiichi Shibusawa (1840-1931), known as the “father of Japanese capitalism” for helping establish around 500 companies. The reverse side will depict the iconic red-brick building of Tokyo Station.
The 5,000 yen bill will showcase educator Umeko Tsuda (1864-1929), who dedicated her life to raising the status of women in society, with wisteria flowers adorning the back.
The 1,000 yen note will bear the portrait of microbiologist Shibasaburo Kitasato (1853-1931), dubbed the “father of modern Japanese medicine” for his contributions to tetanus treatment, alongside the famous “Great Wave off Kanagawa” ukiyo-e artwork by Katsushika Hokusai.
Anti-Counterfeiting Features
The new banknotes will incorporate several advanced security features to deter counterfeiting, the most notable being the use of 3D holographic portraits.
By tilting the bills, the orientation of the portraits will appear to change, creating a captivating 3D effect that has never before been seen on currency. Additionally, the new notes will feature high-resolution watermarks, latent images, and iridescent inks.
Massive Production and Circulation
According to the government, by the end of March 2025, nearly 7.5 billion of the new banknotes will have been printed. Despite this large-scale production, existing banknotes will remain valid even after the introduction of the new bills.
In fact, Japan had 18.54 billion banknotes in circulation at the end of 2023, which if lined up horizontally would stretch eight times the distance between the Earth and the Moon.
Shift Towards Cashless Payments
The launch of the new banknotes comes as Japan, a traditionally cash-dominant society, aims to push for increased cashless payments. While the value of cashless transactions has been rising in the country, it still fell short of the government’s 40% target in 2023.
In comparison, cashless payments already accounted for more than half of the total in countries like Britain, Canada, the United States, China, Singapore, and South Korea as of 2021.
The Bank of Japan’s introduction of these technologically advanced banknotes, featuring cutting-edge holographic portraits and other anti-counterfeiting measures, represents a significant milestone in the evolution of the country’s currency.
As Japan continues its transition towards a more cashless society, these new banknotes will play a crucial role in ensuring the security and integrity of its financial system.