Japan issues new hologram-packed yen banknotes after 20 years

Japan has introduced new banknotes for the first time in 20 years, featuring 3D holograms to combat counterfeiting. Prime Minister Fumio Kishida highlighted the redesigned 10,000 yen, 5,000 yen, and 1,000 yen bills, paying tribute to Japanese capitalism, women's equality, and scientific innovation. The holograms on the bills depict historical figures like Eiichi Shibusawa, Umeko Tsuda, and Shibasaburo Kitasato, with unique orientation changes based on viewing angles, a world-first according to Japanese authorities. The redesigned bills were unveiled with a focus on enhancing security and aesthetics, aiming to boost the Japanese economy. Despite the introduction of new currency, existing bills will remain valid for transactions, including vending machines and bus fares. The new banknotes also feature larger print for improved readability, particularly beneficial for Japan's aging population. Japan's heavy reliance on cash persists, with the government emphasizing the continued importance of physical currency alongside the country's gradual shift towards digital payments. Bank of Japan Governor Kazuo Ueda stressed the significance of cash as a secure and universally accessible payment method. The government plans to print approximately 7.5 billion new banknotes by March of the following year, ensuring a smooth transition for consumers and businesses.