The new bills aim to honor Japanese capitalism, gender equality and scientific innovation.
Japan has issued new banknotes for the first time in two decades, with the notes redesigned to include holograms to thwart counterfeiters.
Japanese Prime Minister Fumio Kishida said on Wednesday that the redesign of the 10,000, 5,000 and 1,000 yen banknotes is a tribute to Japanese capitalism, gender equality and scientific innovation.
“I hope people will like the new banknotes and they will help stimulate the Japanese economy,” Kishida told reporters at the Bank of Japan.
The banknotes feature 3D images of historical figures that change orientation depending on the angle they are viewed from, which Japanese authorities say is a world first.
The 10,000 yen note features a portrait of Eiichi Shibusawa, the industrialist and government official credited with shepherding Japan’s economic modernization during the Meiji era.
The 5,000 yen note depicts Umeko Tsuda, a pioneer of women’s education and founder of Tsuda University in Tokyo.
The 1,000 yen note depicts Shibasaburo Kitasato, a bacteriologist who helped develop a method for preventing tetanus and diphtheria.
Japan, known for its heavy reliance on cash, unveiled the new banknotes in 2019, giving consumers and businesses five years to prepare.
Current banknotes will continue to be accepted as valid currency.
Bank of Japan Governor Kazuo Ueda said cash will remain important despite the country’s shift toward digital payments, which has lagged behind advanced peers.
“Cash is a safe means of payment that anyone can use, anywhere, anytime, and it will continue to play an important role,” Ueda added.
The government said it expects to print about 7.5 billion new banknotes by March next year.