Heisei era

{{Short description|Period of Japanese history (1989–2019)}} {{For|the Japanese Emperor in his reign through the Heisei period|Akihito}} {{Use dmy dates|date=February 2021}} {{Infobox historical era | name = Heisei{{pb}}{{nobold|{{lang|ja|平成}}}} | location = Japan | start = 8 January 1989 | end = 30 April 2019 | image = Emperor Akihito 199011 1.jpg | alt = | caption = Emperor Akihito of the Heisei era, his reign (1990) | before = Shōwa | including = {{Collapsible list | bullets = on | title = {{nobold|'''Major events'''}} |Japanese asset price bubble |Great Hanshin earthquake |1998 Winter Olympics |Kyoto Protocol |Battle of Amami-Ōshima |2002 FIFA World Cup |Japanese Iraq Reconstruction and Support Group |Operation Ocean Shield |Japan Self-Defense Force Base Djibouti |Great East Japan earthquake and tsunami |Fukushima Daiichi nuclear disaster }} | after = Reiwa | monarch = Akihito | primeministers = {{Collapsible list | title = |Noboru Takeshita |Sōsuke Uno |Toshiki Kaifu |Kiichi Miyazawa |Morihiro Hosokawa |Tsutomu Hata |Tomiichi Murayama |Ryutaro Hashimoto |Keizō Obuchi |Yoshirō Mori |Junichiro Koizumi |Shinzo Abe |Yasuo Fukuda |Tarō Asō |Yukio Hatoyama |Naoto Kan |Yoshihiko Noda }} | key_events = {{plainlist| *Japanese asset price bubble *Great Hanshin earthquake *Tokyo subway sarin attack *Kyoto Protocol *Lost Decades *Battle of Amami-Ōshima *Japanese Iraq Reconstruction and Support Group *Operation Ocean Shield *Great East Japan earthquake and tsunami *Fukushima Daiichi nuclear disaster }} }} {{History of Japan | modern}} The {{Nihongo|'''Heisei era'''|平成|extra=Japanese: {{IPA|ja|heːseː||TomJ-Heisei.ogg}}}} was the period of Japanese history corresponding to the reign of Emperor Akihito from 8 January 1989 until his abdication on 30 April 2019. The Heisei era started on 8 January 1989, the day after the death of the Emperor Hirohito, when his elder son, Akihito, acceded to the throne as the 125th Emperor of Japan. In accordance with Japanese customs, Hirohito was posthumously renamed "Emperor Shōwa" on 31 January 1989.

Thus, 1989 corresponds to Shōwa 64 up until 7 January and {{Nihongo|Heisei 1|平成元年|Heisei gannen|''gannen'' means "first year"}} from 8 January. The Heisei era ended on 30 April 2019 (Heisei 31), with the abdication of Akihito from the Chrysanthemum Throne. It was succeeded by the Reiwa era as then-crown prince Naruhito ascended the throne on 1 May midnight local time.<ref name=kyodo011217>{{cite web |url=https://english.kyodonews.net/news/2017/12/5e229b7aa920-japan-holds-panel-meeting-to-weigh-emperors-abdication-date.html|title=Japan's emperor to abdicate on April 30, 2019: gov't source|author= |date=1 December 2017|website=english.kyodonews.net |agency=Kyodo News|access-date=1 December 2017}}</ref>

== History and meaning == [[File:Keizo Obuchi cropped Keizo Obuchi 19890107.jpg|thumb|250px|Chief Cabinet Secretary Keizō Obuchi revealing the new era name to the press (7 January 1989)]] Shortly after the death of Emperor Hirohito on 7 January 1989, Keizō Obuchi, then-Chief Cabinet Secretary and later Prime Minister of Japan, hosted a press conference to announce the new era name "Heisei" for the reign of Emperor Akihito, and explained its meaning.

According to Obuchi, the name "Heisei" was taken from two Chinese history and philosophy books, namely ''Records of the Grand Historian'' ({{lang-zh|史記|labels=no}}) and the ''Book of Documents'' ({{lang-zh|書経|labels=no}}). In the ''Records of the Grand Historian'', a sentence appears in a section honoring the wise rule of the legendary Chinese Emperor Shun, reading "{{lang-zh|t=内平外成|labels=no}}" (Kanbun: {{Nihongo2|内平かに外成る}}, ''Uchi tairaka ni soto naru'', "flat inside and outside"). In the ''Book of Documents'', the sentence "{{lang-zh|t=地平天成|labels=no}}" (Kanbun: {{Nihongo2|地'''平'''かに天'''成'''る}}, ''Chi tairaka ni ten naru'', "the earth is perfect") appears. By combining both meanings, Heisei is intended to mean "peace everywhere".<ref name="meijijingu">{{cite web |url=http://www.meijijingu.or.jp/qa/gosai/07.html |script-title=ja:「明治」の由来は何ですか? |language=ja |publisher=Meiji Shrine |access-date=3 May 2019 |archive-date=19 April 2019 |archive-url=https://web.archive.org/web/20190419194507/http://www.meijijingu.or.jp/qa/gosai/07.html |url-status=dead }}</ref> The Heisei era went into effect at midnight local time on 8 January 1989.

In August 2016, Emperor Akihito gave a televised address to the nation, in which he expressed concern that his age would one day stop him from fulfilling his official duties. This was an implication of his wish to retire.<ref name="kyodo011217" /> The Japanese Diet passed a law in June 2017 to allow the throne to pass to Akihito's son, Naruhito.<ref name="kyodo011217" /> After meeting with members of the Imperial House Council, Prime Minister Shinzō Abe announced that 30 April 2019 would be the date set for Akihito's abdication.<ref name="kyodo011217" /> The Reiwa era corresponding to Naruhito's reign began the next day.<ref>{{cite news|last1=Kyodo|first1=Jiji|title=Japan's publishers wait in suspense for next era name|url=https://www.japantimes.co.jp/news/2017/12/03/business/economy-business/japanese-firms-preparing-new-calendar-era-following-emperors-abdication-2019/|access-date=31 January 2018|work=The Japan Times|date=3 December 2017}}</ref>

== Events == thumb|250x250px|Japan's nominal GDP per capita remained stagnant around $40,000 throughout the era. [[File:Comicmarket49 02.jpg|thumb|250px|Comiket 49 ''doujinshi'' convention in 1995. The 1990s saw a boom in the international popularity of anime and manga.]] 1989 marked the culmination of one of the most rapid economic growth spurts in Japanese history. With a dramatically strengthened yen after the 1985 Plaza Accord, the Bank of Japan kept interest rates low, sparking an investment boom that drove Tokyo property values up 60 percent within that year. Shortly before New Year's Day, the Tokyo Stock Market index, Nikkei 225, reached its record high of 38,957. By 1992, it had fallen to 15,000, signifying the end of Japan's famed "bubble economy". Subsequently, Japan experienced the "Lost Decade", which actually consisted of more than ten years of price deflation and largely stagnant GDP as Japan's banks struggled to resolve their bad debts and companies in other sectors struggled to restructure.{{Citation needed|date=August 2022}}

The Recruit scandal of 1988 had already eroded public confidence in the Liberal Democratic Party (LDP), which had controlled the Japanese government for 38 years. In 1993, the LDP was ousted by a coalition led by Morihiro Hosokawa. However, the coalition collapsed as parties had gathered only to overthrow LDP, and lacked a unified position on almost every social issue. The LDP returned to the government in 1994, when it helped to elect Japan Socialist (later Social Democrat) Tomiichi Murayama as prime minister.{{Citation needed|date=August 2022}}

The 1990s saw an "anime boom" period marked by increased popularity of anime and anime conventions. Several Japanese media franchises gained global popularity such as ''Pokémon'', ''Digimon'', ''Sailor Moon'', ''Saint Seiya'', ''Gundam'', ''Cardcaptor Sakura'', ''Dragon Ball'', ''Yu-Gi-Oh'' and ''Evangelion'', as well as Sanrio products and the animated films of Studio Ghibli<ref>{{cite book|title=Anime Essentials: Every Thing a Fan Needs to Know|publisher=Stone Bridge Press|last=Poitras|first=Gilles|year=2000|isbn=978-1-880656-53-2|page=73}}</ref>, including the ''Godzilla'' films.

In 1995, there was a large 6.8 earthquake in Kobe, Hyōgo and sarin gas terrorist attacks were carried out on the Tokyo Metro by the doomsday cult Aum Shinrikyo. Failure of the Japanese government to react to these events promptly led to the formation of non-government organisations which have been playing an increasingly important role in Japanese politics since.

On 11 December 1997, the international treaty called the Kyoto Protocol to regulate greenhouse gas emissions was adopted by 192 parties in Kyoto, Japan.<ref name=UNlist>{{cite web|url=https://treaties.un.org/pages/ViewDetails.aspx?src=TREATY&mtdsg_no=XXVII-7-a&chapter=27&lang=en|title=7 .a Kyoto Protocol to the United Nations Framework Convention on Climate Change|work=UN Treaty Database|access-date=27 November 2014|archive-date=8 October 2018|archive-url=https://web.archive.org/web/20181008095709/https://treaties.un.org/pages/ViewDetails.aspx?src=TREATY&mtdsg_no=XXVII-7-a&chapter=27&lang=en|url-status=dead}}</ref>

During this era, Japan reemerged as a military power. In 1991, Japan made a financial contribution of $10 billion and sent military hardware for the Gulf War.<ref>Freedman, Lawrence, and Efraim Karsh. ''The Gulf Conflict 1990–1991: Diplomacy and War in the New World Order''. Princeton, New Jersey: Princeton University Press, 1993. Print.</ref> However, Article 9 of the Constitution prevented a participation in the actual war, leading Iran to criticize Japan for just pledging money and did not appreciate the way Japan co-operated in the Gulf War. However, after the war, between 26 April and October 1991 six JMSDF minesweeper vessels were sent and removed 34 sea mines in the Persian Gulf to improve the safety of ships.<ref name="20-years-JSDF"/>

Following the Iraq War, in 2003, Prime Minister Junichirō Koizumi's Cabinet approved a plan to send about 1,000 soldiers of the Japan Self-Defense Forces to help in Iraq's reconstruction, the biggest overseas troop deployment since World War II without the sanction of the UN. The mission lasted until February 2009.<ref name="20-years-JSDF">{{cite web|url=https://www.mod.go.jp/e/jdf/no24/specialfeature01.html|title=Two Decades of International Cooperation: A Look Back on 20 Years of JSDF Activities Abroad|date=24 December 2011|publisher=Japan Ministry of Defense|archive-url=https://web.archive.org/web/20180327211942/http://www.mod.go.jp/e/jdf/no24/specialfeature01.html|archive-date=27 March 2018}}</ref>

The 2002 FIFA World Cup was the first FIFA World Cup to be held in Asia, the first to be held outside of the Americas or Europe, as well as the first to be jointly-hosted by more than one nation. This world championship for men's national football teams was jointly hosted by Japan and South-Korea to improve relations.<ref>{{cite news|last=Jones|first=Grahame L.|date=1 June 1996|title=A Political Football Lands in Japan and South Korea|url=https://www.latimes.com/archives/la-xpm-1996-06-01-sp-10647-story.html|work=Los Angeles Times|access-date=22 July 2017}}</ref>

On 23 October 2004, the Heisei 16 an earthquake and aftershocks rocked the Hokuriku region in Niigata Prefecture, killing 52 and injuring hundreds.

In November 2005, The Japan Aerospace Exploration Agency (JAXA)'s robotic spacecraft Hayabusa landed on an asteroid and collected samples in the form of tiny grains of asteroidal material, which were returned to Earth aboard the spacecraft on 13 June 2010. It was the first spacecraft in history designed to deliberately land on an asteroid and then take off again. The Hayabusa mission was the first to return an asteroid sample to Earth for analysis.<ref>{{cite web|publisher=Japan Aerospace Exploration Agency|url=http://www.isas.jaxa.jp/e/snews/2005/1124_hayabusa.shtml|title=Hayabusa Landed on and Took Off from Itokawa successfully – Detailed Analysis Revealed / Topics|website=ISAS|access-date=14 June 2010}}</ref>

After an election defeat, Prime Minister Shinzō Abe resigned suddenly, and in Autumn 2007 Yasuo Fukuda became prime minister. Fukuda in turn resigned in September 2008 citing political failings, and Tarō Asō was selected by his party.

In 2008, Greater Tokyo has the largest metropolitan economy in the world with a total GDP (nominal) of approximately $2 trillion (¥165 trillion).<ref name="都道府県平成 92,269,424'">[http://www.esri.cao.go.jp/jp/sna/kenmin/h19/main.html 平成19年度県民経済計算] {{webarchive|url=https://web.archive.org/web/20101220043131/http://www.esri.cao.go.jp/jp/sna/kenmin/h19/main.html|date=20 December 2010 }}</ref> Greater Tokyo also has the largest metropolitan population in the world with an estimated 35 million.

In August 2009, for the first time, the Democratic Party of Japan (DPJ) won 308 seats in the lower house election, which ended 50 years of political domination by the LDP. As a result of the election, Tarō Asō resigned as leader of the LDP, and Yukio Hatoyama, president of DPJ became prime minister on 16 September 2009. However, DPJ soon became mired in party financing scandals, particularly involving aides close to Ichirō Ozawa. Naoto Kan was chosen by the DPJ as the next prime minister, but he soon lost a working majority in the House of Councillors election, and the 2010 Senkaku boat collision incident caused increased tension between Japan and China. The 2009–2010 Toyota vehicle recalls also took place during this time.

The population of Japan peaked at 128 million in 2010. This was Japan's biggest population in history.<ref>[http://www.ipss.go.jp/site-ad/index_english/esuikei/ppfj2012.pdf ''Population Projections for Japan (January 2012): 2011 to 2060''] {{Webarchive|url=https://web.archive.org/web/20190919081304/http://www.ipss.go.jp/site-ad/index_english/esuikei/ppfj2012.pdf |date=19 September 2019 }}, table 1-1 (National Institute of Population and Social Security Research. Retrieved 13 January 2016).</ref> It declined due to a low birthrate in the following years.

In July 2010, The JSDF's first postwar overseas base was established in Djibouti.<ref name="overseas-dispatch">{{cite news|title=The Overseas Dispatch of Japan's Self-Defense Forces and U.S. War Preparations 自衛隊海外派遣と米国の戦争準備|last=Narusawa|first=Muneo|date=28 July 2014|publisher=The Asia-Pacific Journal: Japan Focus|url=https://apjjf.org/2014/12/31/Narusawa-Muneo/4158/article.html|url-status=live|archive-url=https://web.archive.org/web/20180930193008/https://apjjf.org/2014/12/31/Narusawa-Muneo/4158/article.html|archive-date=30 September 2018 }}</ref>

In December 2010, Japan's 2010 National Defense Program Guidelines changed its defense policy from a focus on the former Soviet Union to China.<ref name="MARTIN FACKLER">{{cite news |author1-link=Martin Fackler (journalist)|last= Fackler|first= Martin|url= https://www.nytimes.com/2010/12/17/world/asia/17japan.html|title= Japan Announces Defense Policy to Counter China|newspaper= The New York Times|date= 16 December 2010|access-date= 17 December 2010}}</ref>

In 2011, the economy of China became the second largest in the world. Japan's economy descended to the world's third largest by nominal GDP.<ref name=UN>{{cite web|url=https://unstats.un.org/unsd/snaama/Basic|title=United Nations Statistics Division - National Accounts|website=unstats.un.org}}</ref>

In 2011, a sumo tournament was cancelled for the first time in 65 years over a match fixing scandal.

[[File:Mt.Fuji & Tokyo SkyTree (6906783193)b.jpg|thumb|250px|Mount Fuji and Tokyo Skytree (2012)]] In March 2011, the Tokyo Skytree {{Convert|634.0|m|ft|0}} became the tallest tower in the world.<ref>{{cite web|url=http://www.ctbuh.org/News/GlobalTallNews/tabid/468/EntryId/4066/Japan-Finishes-Worlds-Tallest-Communications-Tower.aspx|title=Japan Finishes World's Tallest Communications Tower|publisher=Council on Tall Buildings and Urban Habitat|date=1 March 2012|access-date=2 March 2012|archive-url=https://web.archive.org/web/20160619104856/http://www.ctbuh.org/News/GlobalTallNews/tabid/468/EntryId/4066/Japan-Finishes-Worlds-Tallest-Communications-Tower.aspx|archive-date=19 June 2016|url-status=dead}}</ref><ref>{{cite web|url=http://www.emporis.com/building/tokyo-sky-tree-tokyo-japan|archive-url=https://web.archive.org/web/20120603121034/http://www.emporis.com/building/tokyo-sky-tree-tokyo-japan|url-status=usurped|archive-date=3 June 2012|title=Tokyo Sky Tree|publisher=Emporis|access-date=2 March 2012}}</ref> and the second tallest structure in the world after the Burj Khalifa.

[[File:US Navy 110320-M-0145H-063 A large ferry boat rests inland amidst destroyed houses after a 9.0 earthquake and subsequent tsunami struck Japan March.jpg|thumb|Destroyed buildings in Miyako, Iwate, following the 2011 Tōhoku tsunami|248x248px]] On 11 March 2011 at 2:46 p.m., Japan was hit by the Tōhoku earthquake of a magnitude scale of 9.0, the strongest recorded earthquake in its history, affecting places in the three regions of Tohoku, Chubu and Kanto in the northeast of Honshu, including the Tokyo area.<ref>Martin Fackler, Kevin Drew: [https://www.nytimes.com/2011/03/12/world/asia/12japan.html?ref=world Devastation as Tsunami Crashes Into Japan]. ''The New York Times'', 11 March 2011</ref><ref name="USGS9.0">{{cite web|url=https://earthquake.usgs.gov/earthquakes/eqinthenews/2011/usc0001xgp/neic_c0001xgp_wmt.php|title=USGS analysis as of 12 March 2011|date=11 March 2011|access-date=4 July 2019|publisher= U.S. Geological Survey|archive-url= https://web.archive.org/web/20110908055727/http://earthquake.usgs.gov/earthquakes/eqinthenews/2011/usc0001xgp/neic_c0001xgp_wmt.php|archive-date=8 September 2011 }}</ref> A tsunami with waves of up to 10 meters (32.5 feet) flooded inland areas several kilometers from shore,<ref>[http://www.thespec.com/news/world/article/500842--massive-tsunami-caused-by-quake-s-shallow-focus Massive tsunami caused by quake’s shallow focus] {{Webarchive|url=https://web.archive.org/web/20120908184921/http://www.thespec.com/news/world/article/500842--massive-tsunami-caused-by-quake-s-shallow-focus |date=8 September 2012 }}. ''The Hamilton Spectator'', 12 March 2011</ref> causing a large number of considerable fires. The epicenter of the quake lay so close to coastal villages and towns that thousands could not flee in time despite the tsunami warning system,<ref>[https://www.economist.com/briefing/2011/03/17/a-tsunami-in-japan-tests-the-countrys-political-system Japan's catastrophes—Nature strikes back—Can fragile Japan endure this hydra-headed disaster?] ''The Economist'', 17 March 2011</ref> and also, Fukushima Daiichi Nuclear Power Plant and three other nuclear power plants, serious problems occurred with the cooling systems,<ref>K.N.C., H.T., A.N.: [https://www.economist.com/blogs/asiaview/2011/03/japans_earthquake_0 Containing the nuclear crisis]</ref> ultimately leading to the most serious case of radioactive contamination since the Chernobyl disaster (see Fukushima Daiichi nuclear disaster), as well as ongoing electric power shortages. Following the earthquake, for the first time, the Emperor addressed the nation in a pre-recorded television broadcast.{{refplease|date=March 2026}}

In August 2011, Naoto Kan resigned, and Yoshihiko Noda became prime minister. Later that year Olympus Corporation admitted major accounting irregularities. (See Tobashi scheme.) Noda pushed for Japan to consider joining the Trans-Pacific Strategic Economic Partnership, but was defeated in an election in 2012, being replaced by Shinzo Abe.

[[File:Barack Obama Emperor Akihito and Empress Michiko 20140424 1.jpg|thumb|American President Barack Obama meets Emperor Akihito and Empress Michiko with Japanese Prime Minister Shinzo Abe and First Lady Akie Abe during the welcome ceremony at the Imperial Palace in Chiyoda Ward, Tokyo (April 24, 2014).|247x247px]] In January 2013, Shinzo Abe's government introduced economic reforms in response to the consequences of the Lost Decade and Japan's aging demographic crisis.

In the first half of 2014, The Toyota became the biggest automaker in the world selling 5.1 million vehicles in the six months ending 30 June 2014, an increase of 3.8% on the same period the previous year. Volkswagen AG recorded sales of 5.07 million vehicles.<ref name="AutoSales">{{cite news|title=World biggest carmaker tag retained by Toyota|url=http://www.thejapannews.net/index.php/sid/224277905/scat/3a8a80d6f705f8cc/ht/World-biggest-carmaker-tag-retained-by-Toyota|access-date=31 July 2014|work=The Japan News|archive-url=https://web.archive.org/web/20140808053950/http://www.thejapannews.net/index.php/sid/224277905/scat/3a8a80d6f705f8cc/ht/World-biggest-carmaker-tag-retained-by-Toyota|archive-date=8 August 2014|url-status=dead}}</ref>

Prime Minister Shinzo Abe sought to end deflation, but Japan entered recession again in 2014 largely due to a rise in sales tax to 8%. Abe called an election in December, and promised to delay further sales tax hikes to 2018. He won the election.

On 18 September 2015, the National Diet enacted the 2015 Japanese military legislation that allows the Japan Self-Defense Forces to collective self-defense of allies in combat for the first time under the 1947 constitution.<ref>{{cite news|title=Japan enacts major changes to its self-defense laws|last=Slavin|first=Erik|location=Tokyo|date=18 September 2015|newspaper=Stars and Stripes|url=http://www.stripes.com/news/pacific/japan-enacts-major-changes-to-its-self-defense-laws-1.368783|url-status=live|archive-url=https://web.archive.org/web/20180619063041/https://www.stripes.com/news/pacific/japan-enacts-major-changes-to-its-self-defense-laws-1.368783|archive-date=19 June 2018 }}</ref>

In October 2015, the Japan Self-Defense Forces were ranked as the world's fourth most-powerful military in conventional capabilities in a Credit Suisse report.<ref name="CreditSuisse2015">{{cite report|url=http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=EE7A6A5D-D9D5-6204-E9E6BB426B47D054|title=The End of Globalization or a more Multipolar World?|publisher=Credit Suisse AG|first1=Michael|last1=O’Sullivan|first2=Krithika|last2=Subramanian|date=17 October 2015|access-date=14 July 2017|archive-url=https://web.archive.org/web/20180215235711/http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=EE7A6A5D-D9D5-6204-E9E6BB426B47D054|archive-date=15 February 2018|url-status=dead}}</ref>

A United Nations report confirmed that Greater Tokyo is the most populous metropolitan area in the world with an estimated total population of 38,140,000 in 2016.<ref name="UN-World-Cities-2016">{{cite web|url=https://www.un.org/en/development/desa/population/publications/pdf/urbanization/the_worlds_cities_in_2016_data_booklet.pdf|title=The World's Cities in 2016|last=United Nations|date=12 March 2017|publisher=United Nations}}</ref>

In 2018, Pokémon became the highest-grossing media franchise of all time with an estimated $90 billion revenue. Pokémon surpassed the number 2 Hello Kitty ($80 billion) and the number 5 Star Wars ($65 billion).

A record number of 31,191,929 foreign tourists visited Japan in 2018. This is a 33% increase over 2015 (19.73 million).<ref>{{cite web|url=https://www.tourism.jp/en/tourism-database/stats/|title=Tourism Statistics|website=JTB Tourism Research & Consulting Co.}}</ref> In 2017, 3 out of 4 foreign tourists came from South Korea, China, Taiwan and Hong Kong, according to the Japan National Tourism Organization.<ref>{{cite web|url=https://www.japantimes.co.jp/news/2018/02/06/national/japan-tourism-agency-aims-draw-western-tourists-amid-boom-asian-visitors/|title=Japan Tourism Agency aims to draw more Western tourists amid boom in Asian visitors|date=6 February 2018|archive-url=https://web.archive.org/web/20190107231243/https://www.japantimes.co.jp/news/2018/02/06/national/japan-tourism-agency-aims-draw-western-tourists-amid-boom-asian-visitors/|archive-date=7 January 2019|publisher=Japan National Tourism Organization}}</ref>

Japan activated the Amphibious Rapid Deployment Brigade, its first marine unit since World War II, on 7 April 2018. They are trained to counter invaders from occupying Japanese islands.<ref name=JapanMarines2018>Kubo, Nobuhiro [https://web.archive.org/web/20180408212637/https://ca.reuters.com/article/topNews/idCAKCN1HE069-OCATP Japan activates first marines since WW2 to bolster defenses against China]. 7 April 2018. Reuters. Retrieved 2 August 2018</ref>

Japan was the world's largest creditor nation since 1990 and for 22 years straight.<ref name="creditor 22nd year">{{cite news | author=Obe, Mitsuru | url=https://blogs.wsj.com/japanrealtime/2013/05/28/japan-worlds-largest-creditor-nation-for-22nd-straight-year/ | title=Japan World's Largest Creditor Nation for 22nd Straight Year | work=The Wall Street Journal | date=28 May 2013 | access-date=14 October 2013}}</ref> By 2018, Japan regained the leading position as the predominant source of saving and investments. Japan owned net global assets of ¥328 trillion, Germany (¥262 trillion), China (¥205 trillion).<ref>{{cite news|title=Japan, savings superpower of the world|date=2 September 2018|newspaper=The Japan Times|access-date=12 September 2020|url=https://www.japantimes.co.jp/opinion/2018/09/02/commentary/japan-commentary/japan-savings-superpower-world/ |archive-url=https://web.archive.org/web/20200807140043/https://www.japantimes.co.jp/opinion/2018/09/02/commentary/japan-commentary/japan-savings-superpower-world/|archive-date=7 August 2020|url-status=live}}</ref>

In September 2018, Naomi Osaka became the first Japanese woman to contest a Grand Slam singles final and the first Japanese Grand Slam singles champion. Naomi Osaka was the winner of the 2018 US Open Women's Singles.<ref>{{Cite news|url=https://www.standard.co.uk/sport/tennis/naomi-osaka-becomes-first-japanese-woman-to-reach-a-grand-slam-final-a3929801.html|title=Naomi Osaka becomes first Japanese woman to reach a Grand Slam final|last=Newman|first=Paul|date=7 September 2018|work=London Evening Standard|access-date=10 September 2018}}</ref><ref name=us-open-final>{{cite web|title=Osaka stuns Serena, captures first Grand Slam title at US Open|url=http://www.wtatennis.com/news/osaka-stuns-serena-captures-first-grand-slam-title-us-open|website=WTA Tennis|access-date=2 November 2018|first1=David|last1=Kane |date=8 September 2018 }}</ref>

In 2018, extraordinarily heavy rainfall in Western Japan led to many deaths in Hiroshima and Okayama. Also, an earthquake struck Hokkaido, killing 41 and causing a region-wide blackout.<ref name="fdma20180914">{{cite web|url=http://www.fdma.go.jp/bn/5e976fd1e784ff20658bbbf8f930507c0f417430.pdf|archive-url=https://web.archive.org/web/20180914165412/http://www.fdma.go.jp/bn/5e976fd1e784ff20658bbbf8f930507c0f417430.pdf|url-status=dead|archive-date=14 September 2018|script-title=ja:平成３０年北海道胆振東部地震による被害及び消防機関等の対応状況（第２５報）|language=ja|publisher=Fire and Disaster Management Agency|date=14 September 2018|access-date=1 November 2018}}</ref>

The first JSDF dispatch to a peacekeeping operation that was not led by the United Nations was approved in April 2019. Two JGSDF officers were despatched to monitor a cease-fire between Israel and Egypt at the Multinational Force and Observers command in the Sinai Peninsula from 19 April till 30 November 2019.<ref>{{cite news|title=Japan approves plan to send JSDF officers to Sinai, on first non-U.N. peacekeeping mission|date=2 April 2019|newspaper=The Mainichi|access-date=3 April 2019|url=https://mainichi.jp/english/articles/20190402/p2g/00m/0na/043000c|archive-url=https://web.archive.org/web/20190402131957/https://mainichi.jp/english/articles/20190402/p2g/00m/0na/043000c|archive-date=2 April 2019|url-status=live}}</ref>

=== The Nobel Prize === In the 30 years of the Heisei era, a total of 18 Japanese (including 3 Japanese-born naturalized foreigners) won the Nobel Prize.

*1994 – Kenzaburo Oe, Literature *2000 – Hideki Shirakawa, Chemistry *2001 – Ryoji Noyori, Chemistry *2002 – Koichi Tanaka, Chemistry *2008 – Yoichiro Nambu, Physics *2008 – Makoto Kobayashi, Physics *2008 – Toshihide Maskawa, Physics *2008 – Osamu Shimomura, Chemistry *2010 – Eiichi Negishi, Chemistry *2010 – Akira Suzuki, Chemistry *2012 – Shinya Yamanaka, Physiology or Medicine *2014 – Isamu Akasaki, Physics *2014 – Hiroshi Amano, Physics *2014 – Shuji Nakamura, Physics *2015 – Takaaki Kajita, Physics *2015 – Satoshi Omura, Physiology or Medicine *2017 – Kazuo Ishiguro, Literature *2018 – Tasuku Honjo, Physiology or Medicine

== Economy == {{Main|Lost Decade (Japan)}} The country's economy suffered from prolonged stagnation, and both real wages and price levels experienced a decline during the period. According to IMF estimates, the country's GDP per capita was $39,953, the third highest in the world, in 1994. In 2019, the last year of the Heisei era, it was $40,548, which ranked 27th.

;Top 10 by market capitalization<ref>{{cite web |url= https://bittimes.net/news/62971.html|title= 新経済連盟:仮想通貨・ブロックチェーンの「規制明確化」求める|access-date= February 8, 2022|work= Bitt Times|date= 30 July 2019}}</ref> {| class="wikitable" |- ! Rank ! First year of Heisei (1989) ! Last year of Heisei (2019) |- | 1 ||{{flagicon|Japan}} NTT {{US$|163.8 billion}}||{{flagicon|United States}} Microsoft {{US$|940.8 billion}} |- | 2 ||{{flagicon|Japan}} Industrial Bank of Japan {{US$|71.5 billion}}||{{flagicon|United States}} Apple Inc. {{US$|895.6 billion}} |- | 3 ||{{flagicon|Japan}} The Sumitomo Bank {{US$|69.5 billion}}||{{flagicon|United States}} Amazon.com {{US$|874.7 billion}} |- | 4 ||{{flagicon|Japan}} Fuji Bank {{US$|67.0 billion}}||{{flagicon|United States}} Alphabet Inc. {{US$|818.1 billion}} |- | 5 ||{{flagicon|Japan}} Dai-Ichi Kangyo Bank {{US$|66.0 billion}}||{{flagicon|United States}} Berkshire Hathaway {{US$|493.7 billion}} |- | 6 ||{{flagicon|United States}} IBM {{US$|64.6 billion}}||{{flagicon|United States}} Facebook {{US$|475.7 billion}} |- | 7 ||{{flagicon|Japan}} Mitsubishi Bank {{US$|59.2 billion}}||{{flagicon|China}} Alibaba Group {{US$|472.9 billion}} |- | 8 ||{{flagicon|United States}} Exxon {{US$|54.9 billion}}||{{flagicon|China}} Tencent {{US$|440.9 billion}} |- | 9 ||{{flagicon|Japan}} Tokyo Electric Power Company {{US$|54.4 billion}}||{{flagicon|United States}} Johnson & Johnson {{US$|372.2 billion}} |- | 10 ||{{flagicon|The Netherlands}}{{flagicon|United Kingdom}} Royal Dutch Shell {{US$|54.3 billion}}||{{flagicon|United States}} ExxonMobil {{US$|342.1 billion}} |}

==Conversion table== thumb|200px|A rail pass valid during the year Heisei 18 (2006 in the Gregorian calendar) To convert any Gregorian calendar year between 1989 and 2019 to Japanese calendar year in Heisei era, 1988 needs to be subtracted from the year in question. {|class="wikitable" style="text-align:center" |- !rowspan="2"|Heisei|| 1 || 2 || 3 || 4 || 5 || 6 || 7 || 8 |- ! I || II || III || IV || V || VI || VII || VIII |- |rowspan="2"|AD|| 1989 || 1990 || 1991 || 1992 || 1993 || 1994 || 1995 || 1996 |- || MCMLXXXIX || MCMXC || MCMXCI || MCMXCII || MCMXCIII || MCMXCIV || MCMXCV || MCMXCVI |- !rowspan="2"|Heisei|| 9 || 10 || 11 || 12 || 13 || 14 || 15 || 16 |- ! IX || X || XI || XII || XIII || XIV || XV || XVI |- |rowspan="2"|AD|| 1997 || 1998 || 1999 || 2000 || 2001 || 2002 || 2003 || 2004 |- || MCMXCVII || MCMXCVIII || MCMXCIX || MM || MMI || MMII || MMIII || MMIV |- !rowspan="2"|Heisei|| 17 || 18 || 19 || 20 || 21 || 22 || 23 || 24 |- ! XVII || XVIII || XIX || XX || XXI || XXII || XXIII || XXIV |- |rowspan="2"|AD|| 2005 || 2006 || 2007 || 2008 || 2009 || 2010 || 2011 || 2012 |- || MMV || MMVI || MMVII || MMVIII || MMIX || MMX || MMXI || MMXII |- !rowspan="2"|Heisei|| 25 || 26 || 27 || 28 || 29 || 30 || 31 |- ! XXV || XXVI || XXVII || XXVIII || XXIX || XXX || XXXI |- |rowspan="2"|AD|| 2013 || 2014 || 2015 || 2016 || 2017 || 2018 || 2019 |- | MMXIII || MMXIV || MMXV || MMXVI || MMXVII || MMXVIII || MMXIX |- |}

== References == {{reflist|30em}}

== Further reading == * Flath, David. ''The Japanese Economy'' (2nd ed. 2005) [https://www.amazon.com/Japanese-Economy-David-Flath/dp/019927861X/ excerpt and text search] * Hanson, Marta E. ''The Routledge Handbook of Japanese Politics'' (2011) [https://www.amazon.com/Routledge-Handbook-Japanese-Politics/dp/0415551374/ excerpt and text search] * Kitaoka Shinichi, Kokubun Ryosei, Nakanishi Hiroshi, Shiraishi Takashi, and Tanaka Akihiko. ''Examining Heisei Japan, Vol. I: Diplomacy and Security'' (2021) [https://www.jpicinternational.com/books/politicalscience/ec0681a8d885c707e111be22f53846b0bf3db28e.html] * Kitaoka Shinichi, Io Jun (ed), et al. ''Examining Heisei Japan, Vol. II: Politics'' (2023)[https://www.jpicinternational.com/books/politicalscience/59501591c3b2ddcb6f1421d7772876459aedb535.html] * Kitaoka Shinichi, Komine Takao (ed), et al. ''Examining Heisei Japan, Vol. III: Economy'' (2023) [https://www.jpicinternational.com/books/businessandeconomics/8f798d74ea055fecd145924c8f387bc9b5903e00.html] * Koo, Richard C. ''The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession'' (2nd ed. 2009) [https://www.amazon.com/gp/reader/0470824948/ excerpt and text search] * Pascua, Arthur. ''Devastation in Japan: An Economic Analysis'' (2012) [https://www.amazon.com/Devastation-Japan-Economic-Arthur-Pascua/dp/1468165607/ excerpt and text search], on 2011 Tsunami * Schoppa, Leonard J. ''The Evolution of Japan's Party System: Politics and Policy in an Era of Institutional Change'' (University of Toronto Press; 2012) 232 pages; Argues that changes starting in the 1990s set the stage for the 2009 victory of the Democratic Party {{S-start}} {{S-bef | before = {{nihongo|Shōwa|昭和}} | years = 25 December 1926 – 7 January 1989 }} {{S-ttl | title = Era of Japan {{nihongo|Heisei|平成}} | years = 8 January 1989 – 30 April 2019 }} {{S-aft | after = {{nihongo|Reiwa|令和}} }} {{S-end}} {{Japanese era names|selected=from 1264}} {{Authority control}}

Category:Heisei era Category:1990s in Japan Category:2000s in Japan Category:2010s in Japan Category:1989 in Japan Category:1989 introductions Category:1989 neologisms Category:1989 establishments in Japan Category:2019 disestablishments in Japan Category:Japanese eras Category:Turn of the 3rd millennium