Hozon is a test, Juyo is a competition

The NBTHK in Tokyo is the main organization for authenticating Japanese swords. They currently issue papers at four levels, from lowest to highest level, these are: Hozon, Tokubetsu Hozon, Juyo, and Tokubetsu Juyo.

There is not much difference between the first and second papers, but there is a big leap to the third and fourth level papers.

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