10 Yen

The Bank of Taiwan operated as an instrument of Japanese colonial finance, and by 1944 the institution was printing notes under severe wartime resource constraints. This issue reflects that pressure directly — paper quality and ink consistency vary noticeably across surviving examples, a function of disrupted supply chains in the final war years rather than careless production.

Taiwan was a Japanese possession from 1895, and the Bank of Taiwan functioned as a quasi-central bank for the island as well as financing Japanese expansion into Southeast Asia. Notes from this narrow 1944–45 window were effectively stranded when the war ended — redemption and reissue under Nationalist Chinese authority followed quickly, pushing most surviving examples out of circulation before they accumulated significant wear.