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Friday, May 24, 2024

Japan starts printing redesigned banknotes with new portraits

Japan finished printing in September the current ¥10,000 banknote featuring a portrait of prominent educator Yukichi Fukuzawa, the Bank of Japan said Friday, and production has also been terminated for the ¥5,000 and ¥1,000 bills, featuring portraits of writer Ichiyo Higuchi and bacteriologist Hideyo Noguchi, respectively.

Mass production of the redesigned banknotes has already started in Japan, with their circulation slated to begin in the first half of fiscal 2024, which starts in April 2024.

The new ¥10,000 bill has a portrait of Eiichi Shibusawa, known as the “father of Japanese capitalism.” The new ¥5,000 and ¥1,000 bills have portraits of Umeko Tsuda, who contributed to promoting education for women, and Shibasaburo Kitasato, known as the “father of modern medicine in Japan,” respectively.

The redesigned banknotes, announced by the Japanese government in 2019, are intended to prevent counterfeiting.

The National Printing Bureau began mass-producing the three new banknotes in June and July this year.

Fukuzawa became the face of the ¥10,000 bill in 1984, replacing Shotoku Taishi, a legendary regent in the 6th-7th century Asuka Period.

As of the end of fiscal 2021, the combined number of the current banknotes in circulation stood at some 16.6 billion, with their total value amounting to ¥119.9 trillion.

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