TOKYO: Japan’s Finance Ministry and the Bank of Japan said Tuesday that they have decided to begin issuing new bank notes July 3, 2024.

The Asian nation’s bills will go through a revamp for the first time since 2004, with the 10,000-yen, 5,000-yen and 1,000-yen notes to be renewed.
The ministry is in charge of laying down the formats for the new bank notes, while the central bank is tasked with issuing them.

Finance Minister Shunichi Suzuki had announced that the country would start issuing the new notes as early as the first half of July next year.

The new 10,000-yen note will feature Eiichi Shibusawa, who created the foundations of Japan’s capitalism.

Umeko Tsuda, who promoted women’s education, and Shibasaburo Kitasato, a pioneer of Japan’s modern medicine, will be the face of the new 5,000- and 1,000-yen bills, respectively.

The new bank notes will be the world’s first to use a 3D hologram technology.

The current bank notes can be used alongside the new bills.

At a press conference Tuesday, Toshio Kanazawa, director-general of the BOJ’s Currency Issue Department, warned against falling for scams, including those trying to mislead people into believing that the current bank notes can no longer be used.

The National Printing Bureau started mass-producing the new bank notes last year, with the printed notes currently stockpiled at the BOJ. The number of stored bank notes is expected to exceed 4.5 billion by the end of March next year.

JIJI Press