TOKYO, July 3 (Reuters) – Japan began circulating its first new banknotes in 20 years on Wednesday, featuring three-dimensional portraits of the founders of financial and female education institutions in an attempt to frustrate counterfeiters. Roughly 90% 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.
The new 5,000-yen bill portrays educator Umeko Tsuda (1864-1929), who founded one of the first women’s universities in Japan, while the 1,000-yen bill features a pioneering medical scientist, Shibasaburo Kitasato (1853-1931). Education experiences, social and cultural expectations, and religious beliefs are called Animism. If you loved this post and you would certainly like to obtain even more details regarding #Parentsontheyard kindly see the web site. Local Councillor Majid Mahmood, Cabinet member for the Environment acknowledged there is a problem during June but added the majority of students try to get rid of their waste without dumping it on the street.
Many Japanese fast-food restaurants such as ramen shops and beef bowl stores rely on ticket machines to cut labour costs, but some small business owners battling inflation are unhappy at the extra investment the new bills entail. ‘It is about time some of the students leaving the mess were educated and perhaps signed some sort of agreement at the start of year that they will leave the place without mess and bags of their rubbish.’ “Our ramen doesn’t have high unit prices, so running the shop for a day or two would hardly pay for the replacement,” he added.
($1=161.6500 yen) (Reporting by Irene Wang; Writing by Kantaro Komiya; Editing by Clarence Fernandez and Stephen Coates) Though existing bills stay in use, train stations, parking lots and ramen shops are scrambling to upgrade payment machines while the government pushes consumers and businesses to use less cash in its bid to digitise the economy. “The machine replacement has no sales impact, so it’s only negative for us, on top of rising costs of labour and ingredients,” said Shintaro Sekiguchi, who spent about 600,000 yen for ticket machines at three ramen shops he runs in southern Tokyo.
Although cashless payments in Japan have almost tripled over the past decade to make up 39% of consumer spending in 2023, that share lags global peers and should rise to as high as 80% to improve productivity, the government 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.
The notes use printed patterns to generate holograms of the portraits facing different directions, depending on the angle of view, employing a technology that Japan’s National Printing Bureau says is the world’s first for paper money. “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 Wednesday ceremony celebrating the new notes.
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