Who’s on the yen? Learn about Japanese banknotes, the figures they feature, and what they reveal about Japan today.

From the familiar 5 o’clock chime to the loyal dog statue outside Shibuya station, many everyday sights in Japan come with deeper stories. Japanese banknotes are no different. More than just faces on bills, the men and women featured on Japan’s currency are among the most respected figures in the country’s history.

Not everyone who appears in textbooks or has a bronze statue earns a place on a banknote. With a new series of bills issued between 2024 and 2025, Japan has introduced a fresh set of historical figures—each chosen for what they represent about the nation’s past and present.

So who exactly are the people on Japanese banknotes, and what do they tell us about Japan today?

• Historical Figures on the ¥10,000 Note
• Historical Figures on the ¥5,000 Note
• Historical Figures on the ¥1,000 Note
• A Note on the Rare ¥2,000 Bill
• What Japanese Banknotes Reveal About Today

Historical Figures on the ¥10,000 Note

[

](http://cdn.gaijinpot.com/app/uploads/sites/4/2026/01/iStock-Fukuzawa-Yukichi-Sergio-Yoneda-10000-yen-Japanese-banknote.jpeg)The older Japanese banknote featuring Fukuzawa Yukichi.

Japan’s highest-denomination note has long paired its featured figures with symbols of national ideals. Older bills showed the phoenix from Byodo-in Temple, a symbol of virtue and renewal, while the 2024 redesign features Tokyo Station’s Marunouchi building, representing modernization, stability and the foundations of the modern state.

Former Figure: Fukuzawa Yukichi (1835–1901)

Born in Dojimahama, Osaka, and raised in Nakatsu, Oita Prefecture, Fukuzawa Yukichi is best known for his lasting influence on Japan’s education system. Like many low-ranking samurai families, his household struggled financially, making upward mobility difficult under the rigid social hierarchy of the Tokugawa period. These experiences shaped Fukuzawa’s strong opposition to feudalism and its fixed class structure.

[

](http://cdn.gaijinpot.com/app/uploads/sites/4/2026/01/10000-yen-japanese-banknote-reverse.jpg)The phoenix from Byodo-in Temple.

Despite these obstacles, Fukuzawa excelled academically and moved to Nagasaki at 19 to broaden his studies. In 1854, he began learning Dutch and Western sciences in one of the few Japanese ports open to foreign influence. That same year, Commodore Matthew Perry arrived with his steam-powered warships, forcing Japan to reopen to international trade after more than two centuries of isolation.

In 1858, Fukuzawa founded Keio Gijuku, the predecessor to Keio University and Japan’s first private university. He later joined the Tokugawa government’s first diplomatic mission to the United States in 1860 and served as a translator on European missions in 1862. Beyond education, Fukuzawa made wide-ranging contributions to public discourse. In 1882, he founded Jiji Shinpō, one of Japan’s most influential newspapers, and authored more than 100 works on education, politics, society, and individual rights.

Current Figure: Shibusawa Eiichi (1840–1931)

[

](http://cdn.gaijinpot.com/app/uploads/sites/4/2026/01/iStock-4002507375-Shibusawa-Eiichi-Japanese-banknote.jpeg)The new ¥10,000 note.

Often called the “Father of Japanese Capitalism,” Shibusawa Eiichi was born in Chiaraijima, a village in what is now Fukaya City, Saitama Prefecture. Unlike Fukuzawa, Shibusawa came from a prosperous family that operated a successful farm and played a major role in the local indigo industry.

Despite his privileged background, Shibusawa was critical of Tokugawa-era norms that elevated officials over merchants and entrepreneurs. Throughout his life, he argued that blind reverence for status hindered Japan’s social and economic modernization. Instead, he advocated for a form of capitalism rooted in moral responsibility.

As a young man, Shibusawa worked as a financial advisor to the future shogun, Hitotsubashi Yoshinobu, which allowed him to travel to Europe in 1867 on behalf of the Tokugawa government. Returning during the upheaval of the Meiji Restoration, he devoted himself to modernizing Japan using the economic models he had observed abroad.

In 1878, he helped establish the Tokyo Chamber of Commerce and later supported more than 500 financial institutions and over 600 social welfare organizations during his lifetime.

Historical Figures on the ¥5,000 Note

[

](http://cdn.gaijinpot.com/app/uploads/sites/4/2026/01/iStock-gtlv-Higuchi-Ichiyo-5000-yen-japanese-banknote.jpeg)The Series E ¥5,000 note.

The ¥5,000 note blends cultural legacy with visual symbolism. The previous design featured Ogata Korin’s irises, a classic work associated with traditional Japanese aesthetics, while the 2024 redesign replaces them with wisteria, a flower often associated with elegance and refinement.

Former Figure: Higuchi Ichiyo (1872–1896)

Higuchi Ichiyō grew up in a family with limited financial means and became one of Japan’s most celebrated literary figures despite her short life. Drawing inspiration from her surroundings, she captured the harsher realities of modernization at the turn of the 20th century, particularly the lives of women and the working class.

[

](http://cdn.gaijinpot.com/app/uploads/sites/4/2026/01/5000-yen-series-E-reverse.jpg)The ¥5,000 bill series E reverse.

Her stories often depicted life in Tokyo’s red-light districts and the struggles faced by people on society’s margins. Higuchi began publishing in 1892 to support her family, and although her early efforts met with limited success, she gained recognition after the publication of Umoregi (Undiscovered Wood).

Her most well-known works include Takekurabe (Child’s Play), which portrays adolescents on the brink of adulthood in a red-light district; Otsugomori (On the Last Day of the Year), about a poor maid working for a wealthy household; and Nigorie (Troubled Waters), a tragic story set in the world of courtesans. Higuchi died of tuberculosis at just 24 years old.

Current Figure: Tsuda Umeko (1864–1929)

[

](http://cdn.gaijinpot.com/app/uploads/sites/4/2026/01/New-%C2%A55000-Japan-money-yen-Tsuda-Umeko.jpg)The new Series F ¥5,000 note.

Born into a privileged family as the daughter of an agricultural scientist, Tsuda Umeko became a pioneer in women’s education in Japan. At the age of six, she joined the Iwakura Mission, a major diplomatic journey that sent Japanese officials and scholars to the United States and Europe. Tsuda was the youngest of five girls included in the group, making her one of Japan’s first overseas exchange students.

She remained in the United States until the age of 18, studying English, Latin, French, and a range of academic subjects. Upon returning to Japan, Tsuda was shocked by the limited status and opportunities afforded to women compared to what she had experienced abroad.

In response, she founded Joshi Eigaku Juku in 1900, now known as Tsuda University. The school emphasized a liberal arts education, reflecting her belief that education was essential to women’s empowerment and broader social progress.

Historical Figures on the ¥1,000 Note

[

](http://cdn.gaijinpot.com/app/uploads/sites/4/2026/01/iStock-Maksym-Kapliuk-1000-yen-fuji.jpeg)Mount Fuji is featured on the older bill.

Japan’s ¥1,000 note shifted from landscape symbolism to iconic art. The older bill showed Mount Fuji and cherry blossoms, a familiar pairing tied to national identity and seasonal beauty, while the 2024 series features Hokusai’s “Great Wave,” one of Japan’s most globally recognized images.

Former Figure: Noguchi Hideyo (1876–1928)

[

](http://cdn.gaijinpot.com/app/uploads/sites/4/2026/01/iStock-Maksym-Kapliuk-1000-yen-Noguchi-Hideyo.jpeg)The series E ¥1,000 note.

Noguchi Hideyo was among the first Japanese scientists to gain international recognition. Born in Inawashiro, Fukushima Prefecture, he grew up in poverty despite his family owning farmland that had fallen into neglect.

A childhood accident left Noguchi with severe burns on his left hand, limiting its use. Without access to proper medical care, he waited until age 16 to undergo surgery with financial help from teachers and classmates. The experience inspired a lifelong dedication to medical science.

Noguchi earned his medical license at 20 after passing the necessary examinations and began working at Tokyo’s Infectious Diseases Research Laboratory in 1899. The following year, he moved to the United States to work at the Rockefeller Institute for Medical Research, where he conducted important studies on antivenom, smallpox, and syphilis.

In his later years, Noguchi conducted research on tropical diseases in South America and Africa, including yellow fever and trachoma. Although he was nominated multiple times for the Nobel Prize in Medicine, he never received the award.

Current Figure: Kitasato Shibasaburo (1853–1931)

[

](http://cdn.gaijinpot.com/app/uploads/sites/4/2026/01/Series-E-1000-yen-note-Kitasato-Shibasaburo.jpg)The series E ¥1,000 note.

Another prominent bacteriologist, Kitasato Shibasaburo made groundbreaking contributions to the study of tetanus, diphtheria, and bubonic plague. Born in Kumamoto Prefecture, he studied at Kumamoto Medical School and later at the institution that became Tokyo Imperial University.

In 1890, Kitasato collaborated with Emil von Behring on antitoxin research. Although both were nominated for the first Nobel Prize in Medicine in 1901, von Behring received the award alone under rules that allowed only one recipient.

Beyond his laboratory work, Kitasato helped found Keio University’s School of Medicine in 1917 and served as its first dean. He also became the inaugural president of the Japanese Medical Association in 1923.

A Note on the Rare ¥2,000 Bill

[

](http://cdn.gaijinpot.com/app/uploads/sites/4/2026/01/2000-yen-Japanese-Banknote.jpg)Ever held one of these?

Issued in 2000 to commemorate the new millennium and the G8 Summit held in Okinawa, the ¥2,000 note remains legal tender but is rarely seen in daily use. It features Shureimon Gate, a symbol of Okinawan history and Ryukyuan culture, along with a scene from The Tale of Genji and an illustration of Murasaki Shikibu on the reverse.

Despite its distinctive design, limited circulation and public unfamiliarity have kept the ¥2,000 note largely out of everyday transactions.

What Japanese Banknotes Reveal About Today

[

](http://cdn.gaijinpot.com/app/uploads/sites/4/2025/01/iStock-F3al2-average-salary-in-Tokyo.jpeg)History, by design.

There are clear continuities between the old and new banknote series. All featured figures were active during the Meiji era, a time of sweeping transformation across Japanese society. With the exception of Higuchi Ichiyo, each spent significant time abroad, experiences that shaped their later work.

The ¥1,000 note continues to honor scientific achievement, with both versions featuring bacteriologists. Meanwhile, the ¥5,000 note highlights influential women, signaling recognition of women’s historical contributions and reflecting ongoing conversations about gender equality in Japan.

The ¥10,000 note, reserved for particularly revered figures, has generally been well received in its new form. Shibusawa Eiichi’s emphasis on ethical capitalism resonates with many in modern Japan. However, his legacy remains contested, particularly in South Korea, where some criticize his role in founding financial institutions during the late 19th century that preceded Japan’s colonization of Korea in 1910.

These debates underscore how currency, like history itself, reflects both pride and unresolved tensions.

What do you think of the new Japanese banknotes? Does it matter whose face is on your money? Share your thoughts in the comments.