TOKYO, June 4 (News On Japan) – Japan will introduce new banknotes in July for the first time in two decades, with Shibusawa Eiichi on the 10,000 yen note, Tsuda Umeko on the 5,000 yen note and Kitasato Shibasaburo on the 1,000 yen note. However, the change brings challenges for replacing vending machines.
The new 5,000 yen note features Tsuda Umeko: “We will soon be the faces on the banknotes.”
The new 1,000 yen note depicts Kitasato Shibasaburo: “It’s exciting to see a new design after twenty years.”
The new 10,000 yen note depicts Shibusawa Eiichi: “The new notes will be issued from the third of next month.”
The 1,000 yen note honors Kitasato Shibasaburo for his contributions to medical science. The 5,000 yen note commemorates Tsuda Umeko, a pioneer in women’s education. The 10,000 yen note honors Shibusawa Eiichi, the father of modern Japanese economics.
NTV reporter Hiroshiba Manabu demonstrated the new 1,000 yen note: “If you tilt this part, the design changes.”
The new banknotes feature advanced anti-counterfeiting technologies, including designs that change when viewed from different angles. The transition to these new banknotes is imminent.
After five years of preparation, the new banknotes are ready for issuance. However, a recently opened ramen shop is facing problems with its ticket machine.
Miura Shuhei, owner of Menya Bukotsu, said: ‘(Replacing the machine) won’t be finished in time, so I can just continue with it as it is. We can temporarily accept the new banknotes and exchange them for old ones in the store.’
The cost of a new vending machine is at least 600,000 yen, which represents a significant burden for businesses.
Miura added: ‘I thought, ‘Here we go with more spending.’ Replacing the machines has no direct impact on the business or the store, so it feels like we are spending money on something that is unnecessary.โ
Can the new banknotes be used immediately in the numerous machines in the city? One major beverage manufacturer noted, “We started preparing to replace vending machines in January this year, but it will take two years to replace them all.”
With only a month to go before the new banknotes are issued, we are now in the era of cashless transactions. What does the future hold for our evolving relationship with money?
Source: YOMIURI
