Japan’s New Banknotes for 2024

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The Japanese Government has decided to redesign its banknotes for the first time since 2004. Japan’s new banknotes will be issued in the 2024 fiscal year. They plan to redesign the 1,000 yen, 5,000 yen and 10,000 yen notes.

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The Redesign

As part of the redesign proposal, the 1,000 yen note features the country’s most famous work of art. ‘The Great Wave off Kanagawa’ by Katsushika Hokusai, a ukiyo-e painter and printmaker. Ukiyo-e is a style of art popular during the 17th to 19th centuries in Japan. It is woodblock prints and paintings of a range of things including kabuki actors, sumo wrestlers, travel scenery and landscapes.

The bank notes will feature potraits of well known people from Japan’s recent history during the 19th and 20th centuries. On the 1,000 yen bill is industrialist Eiichi Shibusawa (1840-1931). The new face of the 5,000 yen bill is educator Umeko Tsuda (1864-1929). Finally, the 10,000 yen will depict physician and bacteriologist Shibasaburo Kitasato (1853-1931).

On the reverse side, the 10,000 yen bill will display the original Tokyo Station building. The 5,000 yen bill will feature wisteria flowers. To enhance the security of these two notes, they will integrate a holographic image into the notes too. Further, the Government said they will start producing the 500 yen with new materials. This will begin in the first half of the 2021 fiscal year.

Many people still believe that there are those that still horde bundles of cash under their mattress. Consequently, some believe the new notes may encourage people to exchange their hidden stash for the newly redesigned bank bills. In turn, providing a potential positive boost to the economy. Guess we’ll see if that really is the case come 2024.

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