The new yen bills incorporate 3-D holographic technology, hailed by Japan's money printing agency as a global first, to combat counterfeiting. Despite global trends towards cashless payments, Japan has seen slower adoption in this area.

Japan launched its first new banknotes in two decades on Wednesday. The updated currency incorporates 3-D hologram technology aimed at deterring counterfeiters. Printed patterns on the bills create holograms of the portraits that shift directions based on viewing angles. According to Japan's National Printing Bureau, this innovation marks a global first for paper money.

Prime Minister Fumio Kishida lauded the "historic" state-of-the-art features of the newly introduced 10,000 yen, 5,000 yen, and 1,000 yen notes. "I hope the public will embrace these new bills, which we believe will stimulate the Japanese economy," he remarked to reporters at the Bank of Japan following the unveiling ceremony.

Local media confirmed that older bills will remain valid alongside the new currency. Despite a global shift towards cashless transactions, Japan maintains a strong preference for cash payments.

Bank of Japan Governor Kazuo Ueda affirmed, "Cash remains crucial for securely settling payments anytime, anywhere." Kishida highlighted the figures featured on the new currency, celebrating their contributions to capitalism, gender equality, and scientific advancement.

The 10,000 yen bill showcases Eiichi Shibusawa, known as "the father of Japanese capitalism," credited with founding numerous companies pivotal to Japan's modern economy. The 5,000 yen note features Umeko Tsuda, a pioneering feminist and educator, while the 1,000 yen note honors Shibasaburo Kitasato, a renowned physician and bacteriologist known for his research on tetanus and the bubonic plague.

Each bill's reverse side displays Tokyo Station, wisteria flowers, and Mount Fuji by ukiyo-e artist Katsushika Hokusai. Additionally, the banknotes feature larger print to accommodate Japan's aging population.