What was the name of Japan’s asset-price bubble that burst around 1990, helping trigger a prolonged stock-market slump?

Japan’s asset-price bubble that burst around 1990 was the Japanese asset price bubble.

During the late 1980s, Japanese share and land prices rose dramatically amid easy credit, optimistic expectations, and extensive lending. The Nikkei 225 reached its peak near the end of 1989 before falling sharply in the early 1990s.

Land prices also collapsed, weakening banks and borrowers whose balance sheets depended on high property values. The resulting financial damage contributed to Japan’s long period of weak growth, often called the Lost Decades.

The episode is distinct from the later dot-com bubble, which centered on internet-related companies, and from the 1720 South Sea and Mississippi bubbles. Japan’s bubble involved both equities and real estate on an unusually large scale.