Okinawans champion 2,000-yen bill as symbol of peace

Released in 2000 with much fanfare, the 2,000-yen ($23) bank note was quickly shunned by most people after its novelty value wore off.

But not in Okinawa Prefecture. There, the people have been staging a campaign to save the beleaguered bill.

Introduced to commemorate the 2000 Group of Eight summit, which was hosted in Kyushu and Okinawa, the bill has had a hard time establishing itself in the wallets of Japanese consumers.

It currently accounts for only 1 percent of all the bank notes in circulation, apparently due to its reputation as being less useful than other bills. Some vending machines still do not accept 2,000-yen notes.

In Okinawa Prefecture, however, it is regarded as a symbol of local pride, and its popularity is stronger than ever. An image of Shureimon, the main gate of Shuri Castle in Naha is printed on the bill.

In June, nearly 3.45 million 2,000-yen notes were in circulation in the prefecture, double the number in 2001.

Circulation surges in December. This is because the notes are widely used as New Year gifts to children.

Local banks have ATMs that allow customers to choose to receive 2,000-yen notes rather than other bills.

In April 2005, local business leaders set up a group to promote the circulation of the bank notes. The group appointed 135,000 "ambassadors" to promote use of the bill.

Hidetomo Kojo, 76, former president of Okinawa Kaiho Bank, helped to lead the campaign.

"I always make sure that there are about 20 notes in my wallet," he said. "I also make it a rule to use the bill for congratulatory gifts."

Kojo and many other Okinawans regard the Shureimon gate as a symbol of peace. Originally built in the 16th century, Shureimon was destroyed during the Battle of Okinawa in 1945 and rebuilt soon after the end of World War II.

Kojo, who lost his grandfather during the war and had to flee gunfire himself, said he hopes to spread use of the bill, which he believes represents "aspirations for peace."

Elsewhere in Japan, the 2,000-yen note has lost favor, apparently due to a perception that it is not as useful as the nation's three other bills: in denominations of 1,000 yen, 5,000 yen and 10,000 yen.

Total circulation in June was only 20 percent of its peak in August 2004, when it accounted for 4.7 percent of total bank notes in circulation, surpassing the 5,000-yen bill.

The late Prime Minister Keizo Obuchi was instrumental in bringing the 2000 G-8 summit to Okinawa and in the design of the 2,000-yen note. Obuchi, who died in May 2000, shortly before the summit, had been active in securing Okinawa's reversion to Japanese sovereignty in 1972 and had close connections with the prefecture.

The introduction of the 2,000-yen note on July 19, 2000, was the first new denomination in 42 years. About 8,800 million notes have been printed to date, but only 111 million were in circulation in June. Most of the remaining notes are believed to be kept in Bank of Japan vaults.