Japan issues first new banknotes in two decades

Japan issues first new banknotes in two decades.


Japan introduced its first new banknotes in 20 years, featuring advanced 3-D hologram technology to combat counterfeiting.


GS-02 (International Relations, Miscellaneous)

Key highlights:

  • Prime Minister Fumio Kishida praised the new ¥10,000, ¥5,000, and ¥1,000 bills for their state-of-the-art anti-counterfeit features, calling them “historic.”
  • The new banknotes celebrate Japanese capitalism, women’s equality, and scientific innovation through the figures portrayed on them.
  • The ¥10,000 bill features Eiichi Shibusawa, a key figure in building Japan’s modern economy and known as “the father of Japanese capitalism.”
  • The ¥5,000 bill features Umeko Tsuda, a pioneer feminist and educator who founded a college.
  • The ¥1,000 note features physician and bacteriologist Shibasaburo Kitasato, known for his research on tetanus and the bubonic plague.
  • The backs of the bills depict Tokyo Station, wisteria flowers, and Katsushika Hokusai’s Mount Fuji. The bills also have larger printing for easier readability, particularly for Japan’s aging population.

History Japan-India Relations:

  • Exchange between Japan and India began in the 6th century with the introduction of Buddhism to Japan, significantly influencing Japanese culture.
  • In 1949, Indian Prime Minister Jawaharlal Nehru donated an elephant to Tokyo’s Ueno Zoo, boosting Japanese morale post-World War II.
  • Japan and India signed a peace treaty and established diplomatic relations on April 28, 1952, marking one of Japan’s first post-war peace treaties.
  • India’s iron ore significantly aided Japan’s post-war recovery.
  • Japan’s yen loan aid to India began in 1958, following Prime Minister Nobusuke Kishi’s visit to India in 1957.

Recent Relations:

  • The “Global Partnership between Japan and India” was established during Prime Minister Yoshiro Mori’s visit to India in August 2000.
  • The relationship was elevated to a “Global and Strategic Partnership” during Prime Minister Manmohan Singh’s visit to Japan in December 2006.
  • Prime Minister Narendra Modi’s visit to Japan in September 2014 upgraded the relationship to a “Special Strategic and Global Partnership.”
  • The “Japan and India Vision 2025” was announced during Prime Minister Abe’s visit to India in December 2015, aiming to transform the partnership into a broad-based, action-oriented collaboration.
  • Prime Minister Modi and Prime Minister Abe reiterated their commitment to a “Free and Open Indo-Pacific” during Modi’s visit to Japan in November 2016.

Economic Relations:

  • Trade between Japan and India has increased, with India being Japan’s 18th largest trading partner and Japan being India’s 13th largest trading partner in 2021.
  • Japan is the 5th largest investor in India, with direct investments steadily increasing, reaching 641 billion yen in 2022.
  • The two leaders aim to promote a 5-trillion-yen target for public and private investment from Japan to India over five years.
  • “Clean Energy Partnership” and cooperation in hydrogen, ammonia, and LNG are key areas of collaboration.

Economic Assistance:

  • India has been the largest recipient of Japanese ODA loans, with the Delhi Metro being a successful example of cooperation.
  • Japan and India are committed to building a High-Speed Railway in India using Japan’s Shinkansen System.

Cultural Relations:

  • The year 2012 marked the 60th Anniversary of Diplomatic Relations, celebrated with various cultural events.
  • The year 2017 was declared the Year of Japan-India Friendly Exchanges, enhancing people-to-people exchanges and marking the 60th anniversary of the Cultural Agreement.
  • In 2022, Japan celebrated anniversaries with Southwest Asian countries, including India, designating it as “Japan-Southwest Asia Exchange Year” to enhance relations further.