Japan to Get New Banknotes in 2024
Japan will get new banknotes in 2024. The new designs were revealed on April 9, about one week after Japan revealed the name of its next era, "Reiwa," which will begin on May 1.
The back of the new 1,000 yen note will include an image of The Great Wave off Kanagawa, the famous woodblock print by Katsushika Hokusai.
The front of the note will have Shibasaburo Kitasato, a scientist who found ways to prevent several serious diseases and helped start the Keio School of Medicine in 1917.
The new 5,000 yen note will show wisteria flowers on the back and Umeko Tsuda on the front. Tsuda founded Tsuda University, now one of Japan's oldest women's universities, in 1900.
The back of the new 10,000 yen note will show the Tokyo Station building, which was built in 1914. The front of the note will show Eiichi Shibusawa, a businessman known as "the father of Japanese capitalism." Some South Korean newspapers are unhappy with this choice, however, since Shibusawa's businesses and friends were connected with Japan's takeover of Korea in the early 20th century.
The new notes will have larger numbers and smaller Chinese characters, making them easier for foreign travelers to use. New materials will also be used for the 500 yen coin starting in 2021. The rare 2,000 yen note will not be changed.
Japan's banknotes are updated about every 20 years to prevent counterfeiting. This will be the first update since 2004.
Cash is very common in Japan, with over 80% of transactions using paper money. There were 17 billion banknotes in use in Japan at the end of 2018. If they were placed side by side, they would reach seven times the distance from the Earth to the moon.
