Study Context: The question of whether relationships between valence and arousal might differ among older and younger adults has not yet been totally clarified. Previous studies focused on only age-related mean-differences, but in the current study mean differences and variance in emotional ratings for the International Affective Picture Systems (IAPS) were both examined in Japanese older and younger adults. METHODS: Participants were 31 older adults (69 ± 5.17 years) and 31 younger adults (19 ± 0.77 years). Each picture was projected on the screen for about 5 s in random order and participants subsequently rated its valence from "unhappy" to "happy" and its arousal from "calm" to "exciting," using 9-point scales. RESULTS: Pearson's correlation analysis showed that positive and negative valence tended to be negatively correlated with arousal in both age groups. The 95% Confidence Intervals for positive arousal in older adults included those of younger adults. Arousal ratings for negative pictures were higher than those for neutral pictures, and those for neutral pictures were higher than those for positive pictures in older adults. There were no significant differences between arousal ratings for neutral pictures and positive pictures in younger adults. CONCLUSION: Older adults tended to rate the pictures as more arousing, with higher arousal ratings for negative pictures than for positive pictures, and the variance of positive arousal in older adults was the highest variance for all conditions. The results of this study suggest that older adults may be sensitive to harmful negative experiences in order to make them less aversive.