What was the name of the 1989 Japanese asset-price bubble whose collapse led to a prolonged stock-market slump?

The 1989 Japanese asset-price bubble was the boom whose collapse led to a prolonged stock-market slump in Japan.

During the late 1980s, Japanese land and share prices rose dramatically amid easy credit, speculation, and strong economic confidence. The Nikkei 225 reached its record closing level of 38,915.87 on December 29, 1989. After the Bank of Japan tightened monetary policy, asset prices began to fall.

The Nikkei lost much of its value during the early 1990s. Falling collateral values weakened banks and companies, while bad loans and debt overhang constrained new investment. Japan then experienced a long period of slow growth and financial repair often called the Lost Decades.

The bubble involved both real estate and equities, so calling it only a stock-market bubble is incomplete. It is also distinct from Japan’s later 1997 banking difficulties and from the global dot-com bubble that burst around 2000.