Japan is to begin issuing modified versions of banknotes which are suitable for the visually impaired as it attempts to adapt to the its ageing society. From May 12th, new 5000 yen ($49, £29) notes carrying holograms of a different texture will be issued by the Ministry of Finance, in order to make it easier for the growing number of visually impaired people in Japan to accurately distinguish between the different denominations of banknotes.
As well as bearing a modified hologram, the new 5000 yen notes will also be both larger and squarer than their predecessors, so that they can be clearly distinguished from the 10,000 yen notes. Takayuki Suzuki, Vice Chairman of the Japan Federation of the Blind, said, “Holograms on the old notes were small, and so the new design will make it easier for blind people to feel the difference.”
The modifications come as part of an initiative by the government to address the issue of Japan’s ageing population, which is impacting upon its workforce and economic output . As of last year, an estimated 25 per cent of Japan’s 127.3 million citizens were aged 65 and over, a global record, and a number that is continuing in an upwards trend. Japan may have the third largest economy in the world, but the Japanese government are keenly aware of the potential harm the ageing population – and consequent decrease in workforce – could bring to Japan’s productivity and output. As such, the government, led by Prime Minister Shinzo Abe, are introducing a number of different programs, including the new banknotes, designed to be more inclusive of elderly people in daily society.
Suzuki’s vision for the notes is one of great expectations, but he is aware that progress may be slow: ‘We’d like to see different notes having different widths and lengths like euros, but this would be difficult as all the vending machines in the nation would have to be adjusted.’
Sources include: Japan Daily Press, Bloomberg Business
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