The Bank of Japan (central bank) and the Japanese Ministry of Finance have started working together to formally introduce new banknotes as early as July 2024. In Japan, this will be the first redesign of banknotes since 2004, or 20 years. Even after the new banknotes are introduced, the old banknotes will still be accepted.
The National Printing Bureau produces banknotes in Japan, which are printed by the Bank of Japan. The Japanese government released the new designs in 2019. The image of the new 10,000 yen banknote is of Eiichi Shibusawa, who is frequently referred to as the “father of Japanese capitalism.” Umeko Tsuda, the creator of Tsuda University, will be portrayed on the 5,000 yen banknote.
The 10,000 yen banknote has had its first redesign in 40 years with the move from Prince Shtoku to Yukichi Fukuzawa in 1984.
The Japanese government will soon formally announce when the new banknotes will begin to circulate, according to the Nikkei Asian Review. Previously, the government did not provide a specific date for the release of the new banknotes, simply stating that they would occur in the first part of the fiscal year 2024.
In the fiscal year 2023, it is anticipated that 3.03 billion new banknotes would be created. Printing of the new currency started in 2021. The new banknotes feature ground-breaking anti-counterfeiting technology from the Japanese government, which uses “holography” to make the face on the security thread appear three-dimensional and active.
The new banknotes also have a tactile function that allows you to distinguish between different values.
