Japan will have new ¥1,000, ¥5,000 and ¥10,000 bank notes in 2024

The government on Tuesday announced a redesign for ¥10,000, ¥5,000 and ¥1,000 bank notes, adding new technology to prevent counterfeits.

The new designs will be introduced in the first half of fiscal 2024, Finance Minister Taro Aso said.

The new ¥10,000 bill will feature Eiichi Shibusawa (1840-1931), a banker and business leader dubbed “the father of Japanese capitalism.” Shibusawa played a key role in modernizing the Japanese economy. The back side of the bill will feature an illustration of the Marunouchi side of Tokyo Station.

The ¥5,000 bill will feature Umeko Tsuda (1864-1929), the founder of Tsuda University in Tokyo, who studied in the U.S. and became a pioneer in the education of Japanese women in early 20th century. The back side will feature an illustration of wisteria flowers.

The ¥1,000 bill will feature Shibasaburo Kitasato (1853-1931), a bacteriologist who helped build the foundation for modern medical science in Japan. The opposite side will feature “The Great Wave off Kanagawa,” the famous woodblock print by ukiyo-e artist Katsushika Hokusai.

The last time Japan introduced new bill designs was 2004, a change announced in 2002.

In the first part of fiscal 2021, the ministry will also introduce a new ¥500 coin with the same design but using new materials.

According to the Finance Ministry, about 9.97 billion ¥10,000 bank notes were in circulation in fiscal 2018, along with 660 million ¥5,000 bills, 100 million ¥2,000 bills and 4.2 billion ¥1,000 bills.

The redesign is likely to have influence on many companies as systems for example for vending machines and ticket vending machines for trains need to be renewed.