Despite the trend towards cashless payments, cash remains an indispensable means of payment in Japan. New banknotes are expected to bring several improvements.
For the first time in 20 years, Japan’s central bank is issuing a new series of banknotes. The new notes in denominations of 10,000, 5,000 and 1,000 yen (about 57, 29 and 6 euros) come “with the latest security features, including 3D holograms,” according to a statement from the Governor of the Bank of Japan, Kazuo Ueda. Efforts have also been made to improve the “universal design” of the notes. The banknotes have been available in Japan since this morning.
The 10,000 yen note features a portrait of Shibusawa Eiichi, an entrepreneur from the Meiji period (1868 to 1912) known as the “father of Japanese capitalism”. The 5,000 yen note shows the educator Tsuda Umeko, who lived until 1929, and the 1,000 yen note shows the doctor and bacteriologist Kitasato Shibasaburo, who died in 1931. The reverse side features pictures of Tokyo Station, the Japanese wisteria climbing plant, and pictures from the color woodcut series “36 Views of Mount Fuji” by the artist Katsushika Hokusai.
Despite the trend towards cashless payments, “cash is a secure means of payment that can be used by anyone, anywhere, at any time, and will continue to play an important role,” says Ueda.
Source: Stern
