Starting on July 3rd, 2024, Japan will be issuing new 10,000 yen, 5,000 yen, and 1,000 yen banknotes for the first time in 20 years.

Key Changes to the Banknotes:

1. New Portraits:
   • 10,000 Yen Note: Eiichi Shibusawa, the father of Japanese capitalism.
   • 5,000 Yen Note: Umeko Tsuda, a pioneer in women's education in Japan.
   • 1,000 Yen Note: Shibasaburo Kitasato, a bacteriologist known for developing a treatment for tetanus.
2. Design Enhancements:
   • 3D Technology: To help visually impaired individuals easily identify the denominations.
   • Textured Surface: To aid in tactile recognition.
   • Reverse Side Designs:
     • 10,000 Yen Note: Tokyo Station, a historic and iconic building.
     • 5,000 Yen Note: Wisteria flowers, symbolizing female imagery.
     • 1,000 Yen Note: Katsushika Hokusai's "The Great Wave off Kanagawa."
3. Counterfeit Prevention:
   • The new banknotes incorporate advanced technologies to counteract increasingly sophisticated counterfeit methods.

Practical Implications:

1. Continued Use of Old Banknotes: Old banknotes will remain valid and can be used alongside the new ones. There is no need to worry about immediately exchanging your money.
2. Impact on Vending machines: While many countries have moved to polymer banknotes, which are more durable and hygienic, Japan continues to use paper due to concerns about creasing, which can cause issues with the country's numerous vending machines.

The new banknotes will be a challenge for vending machine companies, which need to update their systems to accept them. This can be hard for small businesses and individual operators because updating machines is expensive. Some might have to do manual cash exchanges until they can upgrade their systems. If you visit Japan and only have new banknotes, local restaurants with vending machines, like ramen shops, might not accept the new money. And you may need to ask employees for assistance.