Japan to redesign banknotes for first time in 20 years

April 9, 2019

Tokyo--The Japanese government plans to redesign the country's 10,000-yen, 5,000-yen and 1,000-yen bills, aiming to circulate the new banknotes from 2024, it has been learned.

Deputy Prime Minister and Finance Minister Taro Aso is expected to announce the plan as early as Tuesday, informed sources said. Circulation of the current three banknotes started in 2004.

The new 10,000-yen bill will have a portrait of Eiichi Shibusawa, who made substantial contributions to the development of capitalism in Japan, while, Umeko Tsuda, a famed educator and the founder of the predecessor of Tsuda University, a women's university, will be featured on the new 5,000-yen bill, government sources said.

On the new 1,000-yen bill will be a portrait of Shibasaburo Kitasato, who greatly helped medical development in Japan, the sources said.

The current 10,000-yen, 5,000-yen and 1,000-yen bills have portraits of prominent educator Yukichi Fukuzawa, author Ichiyo Higuchi and bacteriologist Hideyo Noguchi, respectively.

The banknote redesigning is aimed at further boosting the celebratory mood for the start of Japan's next era, Reiwa, on May 1 and helping shore up demand through the introduction of vending machines and automated teller machines that accept the redesigned bills, the sources said. Jiji Press