New 10,000 yen ($62), 5,000 yen and 1,000 yen banknotes featuring cutting-edge anti-counterfeit technology went into circulation in Japan on Wednesday, in the first design change in two decades just as the cash-loving nation slowly goes cashless.
The first batches of the new bills, featuring three-dimensional holograms of historical figures, were transported from the Bank of Japan's head office by truck to financial institutions and some consumers may be able to obtain them Wednesday at banks and automated teller machines. The previous banknotes will remain valid.
The BOJ plans to ship 1.6 trillion yen worth of the newly printed bills on Wednesday, with its chief Kazuo Ueda underscoring the importance of banknotes as a "critical settlement method" even in the age of increasing cashless payments.
In Fukaya in Saitama Prefecture, near Tokyo, a countdown event began late Tuesday to celebrate the debut of the new 10,000 yen bill that features Eiichi Shibusawa (1840-1931), known as "the father of Japanese capitalism," who was born in the city.
"I want to be a great person like him," said 12-year-old Takayuki Ogawa. Others at the event expressed hope that the selection of Shibusawa would help rejuvenate the local economy.
Educator Umeko Tsuda (1864-1929), who strove to raise the status of women in society, appears on the 5,000 yen bill, while the 1,000 yen note bears microbiologist Shibasaburo Kitasato (1853-1931), dubbed "the father of modern Japanese medicine."
The bills use larger face value numbers than the previous notes to aid recognition and tactile marks for the visually impaired.
The government announced its plan to redesign the banknotes in 2019, allowing time for financial institutions and businesses to prepare.
Most ATMs and ticketing machines for public transport are ready to process the new bills, though many vending machines are not.
