News On Japan

Nakano Sunplaza Redevelopment Canceled, Raising Fears of Urban Decay

TOKYO - The redevelopment plan for the former Nakano Sunplaza site has been formally scrapped, raising concerns among local residents about the area potentially becoming a neglected eyesore.

The iconic venue, long beloved for hosting weddings and concerts, closed its doors in July 2023. A large-scale mixed-use development had been planned for the site and surrounding area. However, with construction costs rising sharply, the project stalled. On May 22nd, it was revealed that an agreement had been reached with real estate companies involved to cancel the redevelopment plan entirely.

In Nakano, some residents expressed disappointment. The manager of a local restaurant said, "There was a sense of expectation, but clearly, having a building versus not having one makes a big difference in customer turnout." A former resident added, "There’s concern it could become a hangout spot—hopefully that doesn’t happen."

While some residents hope the building can be revitalized without a complete rebuild, signs of deterioration are visible throughout the structure, which is over 50 years old. In March 2025, Nakano Ward Mayor stated, "Even if we were to reuse the facility, it would require substantial work. Renovations alone could cost around 10 billion yen. It’s hard to see how that investment could be recovered. It’s not a realistic figure."

A comparable case occurred in Tokyo’s Gotanda district. The TOC Building, also over 50 years old, was temporarily closed for redevelopment, but plans were delayed due to rising costs. Instead, the facility was renovated and later reopened.

Real estate consultant Osamu Nagashima commented on the future of the Nakano Sunplaza site, saying, "I don’t think it will become a ruin. It’s in a prime location, right in front of the station. As long as the main structure is sound, the aging exterior can be restored. A careful approach using renovation or refurbishment while keeping costs down may be the most realistic solution."

Source: FNN

News On Japan
POPULAR NEWS

Typhoon No. 25 was moving away from Japan over waters to the east early on September 22, bringing an end to rainfall across the Kanto region while remaining a strong storm as it tracked northeast at 45 kilometers per hour at 3 a.m.

Severe transport disruption continued across Chiba Prefecture on the morning of September 22 even as Typhoon No. 25 moved away from Japan, with major JR lines still suspended, rail access to Narita Airport disrupted by river flooding, highways closed across the Boso Peninsula and thousands of travelers dealing with the aftermath of the previous day's cancellations.

Japan collected another 12 medals on Day 3 of the Aichi-Nagoya Asian Games on September 21, with 17-year-old swimmer Shin Ohashi and karateka Kakeru Nishiyama winning gold, while the host nation also advanced strongly in women's volleyball, baseball, soccer, handball and hockey.

People aged 65 and older accounted for a record 29.6% of Japan's population in 2026, the highest proportion among major countries worldwide, while the number of elderly people in employment also reached an all-time high as Japan marked Respect for the Aged Day on September 21.

Emperor Naruhito and Empress Masako watched Japan defeat Kazakhstan in a women’s basketball preliminary-round game at the 20th Asian Games in Nagoya.

MEDIA CHANNELS
         

MORE Business NEWS

Tokyo’s stock market was closed on September 21 for Respect for the Aged Day, leaving the Nikkei 225 without a cash close after finishing the previous session at 65,019, while currency and futures markets focused on the yen, the Bank of Japan’s latest rate hike and intervention risks during Japan’s Silver Week holiday.

Japan's first five-day Silver Week holiday in 11 years has put renewed attention on household finances, with persistently high food prices and a weakening yen threatening to erode the benefits of the government's planned consumption tax cut on food.

A list of providers with identical promises turns selection into brute-force sorting. The differences do exist; they are just hidden somewhere other than the homepage.

The Bank of Japan raised its policy rate from 1.0% to 1.25% on September 18, taking borrowing costs to their highest level in 31 years and accelerating the pace of monetary tightening as persistent inflation and concerns over fiscal expansion put upward pressure on interest rates.

The yen strengthened by more than 1 yen against the dollar in a short period late on September 18 after the Bank of Japan conducted a rate check, a step commonly taken in preparation for possible intervention in the foreign exchange market.

Tokyo stocks rose sharply on September 18, with the Nikkei 225 climbing to around 65,350 in afternoon trading after the Bank of Japan raised interest rates to 1.25%, as the yen weakened and investors bought artificial intelligence and semiconductor-related shares.

The Bank of Japan raised its policy interest rate from 1.0% to 1.25% on September 18, lifting borrowing costs to their highest level in 31 years as policymakers moved to contain growing inflation risks, but the yen weakened sharply after the decision as markets focused on two dissenting votes and uncertainty over the pace of further increases.

A market spread is generally the difference between two market prices. Most commonly, traders use the term to describe the bid-ask spread: the difference between the highest price a buyer is currently prepared to pay and the lowest price a seller is prepared to accept.