Industries prepare for Japan's redesigned banknotes

Japan is changing the design of its paper currency for the first time in 20 years. Three new banknotes will go into circulation on July 3, and industries are busy installing systems to accept the bills.

A survey by the finance ministry found that more than 90 percent of bank ATMs will be able to handle the notes when they appear.

Around 80 to 90 percent of train-ticket machines and cash registers at major convenience stores should also be ready.

But only about half of the automatic checkout machines at parking lots and ticket machines at restaurants are expected to be able to handle the new banknotes.

Just 20 to 30 percent of drink vending machines are set to make the adjustments in time.

Small and mid-sized businesses have been complaining about the high cost of switching over, and some local governments have been offering subsidies.

The changes are aimed at making the notes harder to counterfeit, and appeal to everyone.

The face of the 10,000-yen note, currently worth a little over 60 dollars, will be Shibusawa Eiichi, known as the father of Japan's modern economy.

The 5,000-yen note will feature Tsuda Umeko, the first Japanese woman to study abroad, and a pioneer of Japanese education.

The 1,000-yen note will have Kitasato Shibasaburo, a bacteriologist who developed a treatment for tetanus.