What was the name of Japan’s speculative boom that preceded the 1990s stock-market collapse?

Japan’s speculative boom that preceded the 1990s stock-market collapse was called the Japanese asset price bubble.

During the late 1980s, Japanese share and land prices rose rapidly amid easy credit, optimistic expectations, and intense speculation. The Nikkei 225 reached its historic peak at the end of 1989 before prices began a prolonged decline.

The Bank of Japan tightened monetary policy in response to concerns about overheating. As asset prices fell, banks were left with weakened collateral and large non-performing loans, helping produce a long period of slow growth and financial strain.

The resulting era is often called Japan’s Lost Decades, although the phrase can cover more than one decade depending on the dates used. The asset bubble was distinct from the 1987 global stock-market crash: Japan’s major collapse unfolded mainly after its own late-1980s boom.