Asia

Monday, April 8, 2019 - 23:11

MNI: Japan To Overhaul Banknotes As New Era "Reiwa" Starts


TOKYO (MNI) - Japan has decided to overhaul banknotes, including the Y1000, Y5000 and Y10,000 issues, the Bank of Japan said Tuesday.

The BOJ and the government have been considering the timing of overhauling the banknotes, with the announcement corresponding to the start of the new "Reiwa" era on May 1.

Distribution of the new banknotes, which will include anti-counterfeiting features, will likely begin in a few years.

The Imperial era will change from Heisei to Reiwa on May 1, when Crown Prince Naruhito ascends to the throne as emperor.

The 1,000 yen note will depict Shibasaburo Kitasato, the father of modern medicine in Japan who discovered the bacterium responsible for the bubonic plague.

On the 5,000 yen note will be Tsuda University founder Umeko Tsuda, a trailblazer in higher education for women. The bill currently features another prominent Japanese woman, writer Ichiyo Higuchi.

The 10,000 yen note will feature the father of Japanese capitalism, Eiichi Shibusawa -- who founded an early predecessor of Mizuho Bank and many other enterprises.

--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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