Officials including Bank of Japan Governor Kazuo Ueda, Deputy Governor Ryozo Himino and Executive Director Hirohide Kouguchi attend a commemorative event on the day of the new notes of 10,000 yen, 5,000 yen and 1,000 yen went into circulation, at the BOJ headquarters in Tokyo, Japan July 3, 2024.
The new 10,000-yen note depicts Eiichi Shibusawa , the founder of the first bank and stock exchange, who is often called "the father of Japanese capitalism". "Cash is a secure means of payment that can be used by anyone, anywhere, and at any time, and it will continue to play a significant role" even when alternative payment methods prevail, Bank of Japan Governor Kazuo Ueda told a July 3 ceremony celebrating the new notes.
Roughly 90 per cent of bank ATMs, train ticket machines and retail cash registers are prepared to accept new bills, but only half of restaurant and parking ticket machines are ready, the Japan Vending Machine Manufacturers Association says."It might take until year-end to respond to this," said Takemori Kawanami, an executive at ticket machine company Elcom. "That's too slow, but we are short of components," he added, as client orders for upgrades exceeded expectations.