Cash-loving Japan rolls out new banknotes

Person who got new banknotes / I’m happy that I am able to touch these new banknotes fairly early. I’m planning to keep them as a collection.

Person who got new banknotes / My name is also Eiichi (same as Shibusawa Eiichi on the new 10,000 yen note) so I have an affinity. The economy is not doing great, so I hope this would help.

Japan rolled out new banknotes on July 3 for the first time in 20 years.

The Bank of Japan will be putting 1.6 trillion yen worth of the new Yen notes into circulation on Wednesday (July 3) alone.

Prime Minister Kishida Fumio was at the central bank to inspect the process.

Japan redesigns its banknotes every two decades to make them more difficult to counterfeit. 

Shibusawa Eiichi (¥10,000), Tsuda Umeko (¥5,000) and Kitasato Shibasaburo (¥1,000) are the new faces featured on the bills. 

Areas that are related to the iconic figures held events to celebrate the launch.

Cash-loving Japan currently has more than 120 trillion yen in circulation, but the use of cashless payment is increasing in the country.

Officials are yet to know whether the amount of banknotes would decline in the future.

Japan’s beloved board game “Jinsei Game” – directly translated into “Life Game” – also renewed their banknotes.

Players overcome various “life events” and aim to become millionaires in the game.

The newest 79th edition, which will hit the shelves in October, will have Japanese Yen notes instead of US dollars. 

Ikezawa, Tomy Company / Japan is issuing new banknotes, so we updated the game. The faces printed on the bills are our employees who are working for the Jinsei Game.

Players will be able to opt for more occupations in the newest game including entrepreneur, head of private school, and doctor of medicine – occupations that were held by the faces of Japan’s new banknotes. 

Events that players must face include the weak yen, reflecting the economy today.

Tomy hopes the game will help players understand how money works. 

The issuing of new banknotes has raised concern as well. 

Police are calling on people to watch out for frauds involving the new banknote.

They warn that scammers approach people saying that they would exchange their old banknotes with new ones.

The scammers pretend to be financial institution workers and make phone calls saying that the old Yen notes are no longer usable.

Police have received reports that people in their 80s and 90s were cheated out of their cash after the scammers visited their homes.

The Tokyo Metropolitan Police Department warns people that financial institution officials do not visit people’s homes to collect cash.