Category: Global Updates

The Bank of Japan began delivering newly designed banknotes to financial institutions on Wednesday, marking the first renewal in 20 years.

The new banknotes will be available at financial institution counters and ATMs once they are ready.

Shortly after 8 a.m. on Wednesday, one-meter-tall stacks of the newly designed bills were loaded into a security vehicle at the BOJ’s head office in Chuo Ward, Tokyo, as a BOJ official instructed the staffers to “begin issuing the new BOJ banknotes.”

BOJ Gov. Kazuo Ueda said, “I hope the new banknotes will be widely distributed to the public and help lubricate the wheel axles of the economy,”

The new ¥10,000 bill features Eiichi Shibusawa, known as “the father of Japanese capitalism,” and the new ¥5,000 bill bears a portrait of Umeko Tsuda, a pioneer of women’s higher education in Japan. Bacteriologist Shibasaburo Kitasato is the face of the new ¥1,000 bill.

Advanced anti-counterfeiting technologies have been introduced with the banknote renewal. They include a type of 3D hologram technology that makes the banknote portrait appear to rotate when viewed from different angles.

The National Printing Bureau is expected to deliver about 7.5 billion banknotes to the BOJ’s head office and branches by the end of March 2025.

Prime Minister Fumio Kishida visited the head office on Wednesday morning to inspect the issuance of the banknotes.

Afterward, he attended a press conference with Ueda, saying: “The new banknotes are suitable for the new era. I hope the public will receive them well and vitalize the economy.”

Some financial institutions began handling the banknotes on Wednesday, but the three megabank groups — Mitsubishi UFJ Financial Group, Inc., Sumitomo Mitsui Financial Group, Inc. and Mizuho Financial Group, Inc. — said they will begin handling them at their branches on or after Thursday in principle.

A ceremony commemorating the change of the portrait on the ¥10,000 bill from Yukichi Fukuzawa to Shibusawa was held Wednesday morning at the Tokyo Stock Exchange.

The event was hosted by hometowns of Fukuzawa and Shibusawa, Nakatsu in Oita Prefecture and Fukaya in Saitama Prefecture, respectively.

The mayors mixed local sake from their cities into a kettle-like vessel, poured into two cups and drank together. and then recited the spirit of Fukuzawa and Shibusawa before ringing a bell to pray for the prosperity of the Japanese economy.

In Fukaya, a countdown event was held at the city center from Tuesday night, and more than 300 residents and other people gathered to celebrate the issuance of the new ¥10,000 bill. As the clock struck midnight, cheers and shouts congratulating the issuance of the new bills were heard, and a traditional decorative paper ball was split open.

Tsuda, whose portrait is on the new ¥5,000 bill, is the founder of Tsuda College, the predecessor of Tsuda University.

On Wednesday, the university held a commemorative talk event at Tokyo Gymnasium adjacent to the university’s Sendagaya Campus in Shibuya Ward. President Yuko Takahashi exchanged opinions with former Japanese women’s national soccer team member Mana Iwabuchi, 31, among others about women’s activities on the international stage.

Flags depicting the face of the new ¥1,000 bill were seen throughout tourist spots and along a national highway in Oguni, Kumamoto Prefecture, where Kitasato was born.

Trying to capitalize on this occasion, the town is selling related products, such as junmai sake with labels that resemble the new ¥1,000 bill and rice crackers branded with the new ¥1,000 bill.

In her maiden visit to Cambodia, Minister of Foreign Affairs of Japan, Kamikawa Yoko, along with Cambodian leaders, will discuss a new approach for the Cambodia-Japan relationship and cooperation.

The Japanese Foreign Minister will also take this opportunity to enhance landmine-clearance cooperation in Southeast Asia, with the support of Japan.

Cambodia’s Ministry of Foreign Affairs said yesterday that Japan’s Foreign Minister Kamikawa Yoko will pay an official visit to Cambodia Friday and Saturday this week.

In its statement, a ministry spokesman said Kamikawa will be paying separate courtesy calls to Senate President Hun Sen and Prime Minister Hun Manet. She will also be holding a bilateral meeting with her Cambodian counterpart, Sok Chenda Sophea.

“The visit by Her Excellency Kamikawa Yoko will keep the momentum of frequent high-level exchanges and further deepen the Comprehensive Strategic Partnership between Cambodia and Japan,” the Cambodian Foreign Ministry said.

In a recent press conference, Kamikawa announced her plan to visit Cambodia and the Philippines this month.

“From the 5th to the 9th of July, if circumstances allow, I will visit Cambodia and the Philippines for the first time as Foreign Minister,” she said while addressing the press in Tokyo.

She added that the visit, marking the 50th anniversary of ASEAN-Japan friendship and cooperation, aims to deepen heartfelt relations and address current issues.

“We will confirm the progress of the concrete cooperation in Cambodia through meetings with key decision makers in the government, including Sok Chenda Sophea, the Foreign Minister,” she said. “We will enhance the relationship with the Hun Manet administration based on long-term cooperation and development in Cambodia. We will make the new approach of bilateral cooperation.”

Kamikawa said that one main issue that she will focus on during the visit to Cambodia and the Philippines will be to facilitate both Southeast Asian countries’ efforts and cooperation on mine clearance.

“Japan has been cooperating with the Cambodia Mine Action Centre for many years, and it has become a leading mine action centre, not only in Cambodia but also extending its support to third countries, including Ukraine,” she added. “Taking advantage of the opportunity my visit to Cambodia offers, we would like to indicate the possibility of mine action support in the Philippines as well.”

Kamikawa added that she will hold a “two-plus-two” security dialogue involving Japanese and Philippine defence and foreign ministers while in Manila, adding that Japan will boost its support for stateless residents of the Philippines who were born to Japanese nationals and were left there amid the turmoil following World War II.

While meeting Chenda Sophea in December last year in Japan, Kamikawa already stated that she welcomes advances in cooperation with Cambodia in the areas of demining and peacebuilding, and, in the area of landmines in particular, cooperation is already advanced for demining assistance in third countries, including in Ukraine, and the two ministers confirmed their continued collaboration.

She added that Japan intends to further advance cooperation in security, digital, and cybersecurity measures. Kamikawa also stated that Japan intends to revitalise intellectual, cultural, and people-to-people exchanges through the “Next-Generation Co-Creation Partnership: WA Project 2.0” and exchange programmes, including JENESYS (Japan East-Asia Exchange for Students and Youths).

Japan stands out as Cambodia’s top donor country, having provided $1.2 billion in official development assistance since 1992.

According to Heng Ratana, Director-General of CMAC, Japan has been playing an exceptional role in helping Cambodia obtain advanced modern technology for clearing landmines as well as training deminers. For instance, Japan last year approved a grant of over $1.39 million for the clearing of cluster munitions, landmine and unexploded ordnance (UXO) in the country.

“Japan will also provide nearly $14 million to build the world’s largest anti-personnel mine-shaped museum and a mine action training centre in Siem Reap and Kampong Chhnang provinces,” Ratana added.

“Thanks to Japan’s assistance, Cambodia has grown to become a country that is even able to help other countries solve their landmine issues.”

Yang Peou, Secretary-General of the Royal Academy of Cambodia, said the visit by the new Japanese Foreign Minister will open more doors for more positive cooperation between the countries and unconditional assistance from Japan.

“Japan, as a great friend of Cambodia, has helped the Kingdom in every sector,” he said. “Even regarding politics, especially elections, Japan has never expressed any doubt or concern over the democratic process in Cambodia.”

“We hope that through the visit, both countries will discover more paths for cooperation, either bilateral or multilateral,” Peou added.

A veteran politician with an impressive résumé, Kamikawa’s academic background includes the University of Tokyo and Harvard University’s John F. Kennedy School of Government. She also served as a policy staff fellow for then-US Senator Max Baucus. In her political career, she was Japan’s Justice Minister three times and Minister of State for Gender Equality and Social Affairs.

In September 2023, Kamikawa became Japan’s first female Foreign Minister in 20 years. Since her appointment, she has demonstrated her diplomatic skills through several high-profile overseas visits, including to the Middle East, Ukraine, and a tour of Europe and North America. In January this year, Kamikawa launched a new “Women, Peace, and Security (WPS)” task force to address gender-inclusive security issues. While maintaining Japan’s long-term foreign policy stance as a proactive contributor to peace, her energetic diplomatic efforts have brought her significant international recognition.