Tokyo Black Hole “Secret” Bubble Era May 10 21:29
There is a woman who is said to be a symbol of the bubble.
Akiko Kawazoe, a legendary person called "Akko-chan".
She was crazy about her when she was a college student at the time.
The music producer who brought Yumin to the world, the president of a real estate company "called the emperor of the land raising".
It's been about 30 years since the burst of the bubble economy.
This time she was interviewed for the first time on television, telling her about her experience during the bubble era, "it was like a pretty woman."
Opinion polls conducted by the country during the bubble era.
51% of the respondents answered that they do not feel any worries or anxieties about their daily lives.
From 1958, when the survey began, to the present, it was only during this period that more than half of the respondents answered that they did not feel uneasy.
A bubble that is said to be the cause of Japan's stray.
But was it really an empty prosperity?
What happened in those days and what did we lose now?
We will explore from a long interview that can be said to be the "secret" of the people who symbolize the bubble era.
(NHK Special "Tokyo Black Hole Coverage Group")
"Akko-chan", a symbol of the bubble for 2 hours to pass through the center town
Akiko Kawazoe, who was called "Akko-chan," was a symbol of the bubble.
Her novel "Akko-chan's Era" depicts Japan at that time based on interviews with writer Mariko Hayashi and her related parties.
The title is taken from Akiko Kawazoe's nickname.
Akko, who was a college student at the time, was popular anyway.
When she goes out to Shibuya, her men call her one after another.
She is a pick-up that is no longer done.
Akiko Kawazoe
"I don't have tea, where do I go? Also, I try to eat soft food at dawn. It took me about two hours to cut through the center street. When I was in a hurry, I avoided such places and walked. I did. "
The reason I started going to disco was "likely" in the bubble era.
Mr. Kawazoe
"When I was walking around the city, I got a ticket and was told that I could eat soft serve ice cream, and I thought it would be interesting and I thought I should go to eat. Then I went to the disco for free. I will give you. "
At that time, many discos assumed that wealthy male customers would gather, and young and beautiful women like Akko could use it for free.
It became Akko's daily routine to run a disco according to the purpose.
Mr. Kawazoe
"There is a disco called Makeup in Roppongi, and when you go there, you can make up, and you also have yakitori disco, sushi disco, salad disco, and when you're hungry, you're laddering to the disco."
Akko quickly became popular in Roppongi because of its gorgeous beauty.
At the disco, I was invited to VIP seats for superiors.
She says the store was flooded with men and sales went up just because she danced.
Mr. Kawazoe
"It was like a" sales cooperation team "in a shop. When I went to the VIP seat and asked" What do you want to drink? ", I said" Pink Dom Pérignon! " When asked "What do you want to eat?", It's like "Melon!". On the way back, a man gives each girl a taxi fare. It was about 20,000 per person. "
Named men such as Takichi Hayasaka, who was called the "Emperor of the Land Raising," were still crazy about Akko, who was about 20 years old.
A friend who knew Akko at that time talked about its charm.
"The place that doesn't look like a devilish woman is devilish. How many men were killed by Akko's magical power at that time?"
Akko himself was looking at himself objectively from a slightly different perspective.
Mr. Kawazoe:
"I have a person who I really like, that is, a narcissist. That's why my friends called me" Narcissist Hoi Hoi. "My friends said," I hate that person because I'm proud of him. " I often heard that, but I like the bragging stories of men. "
The men told Akko about their success stories without getting tired of it.
Among the men who were enthusiastic about Akko, Shoro Kawazoe, who was also a music producer and a sergeant at a high-class restaurant, had an extraordinary financial strength.
He spent money like her hot water for her, such as taking Akko on a private jet to Europe.
And then the two got married.
Mr. Kawazoe
"I think Kawazoe is a producer, but he buys all the clothes in total. So I felt like I was the main character of the movie" Pretty Woman ". Money is a kind of energy. I think that it is the act of using one's energy to the person who likes it, in short, the expression that you like is a gift or money, so I do not give that energy to the person who dislikes it from"
Japanese who played at Trump's casino
During the bubble era, the market capitalization of the stock market was 600 trillion yen, accounting for more than 40% of the world market.
Of the 50 companies in the world ranking measured by market capitalization, up to 32 were Japanese companies.
Some people were aiming for the swelling Japanese "money."
Former President of the United States Donald Trump.
John O'Donnell, the chief executive of the Trump Plaza Hotel and Casino, talked behind the scenes of Japanese betting with Trump, who is still described as the "legend" of the bubble era.
At that time, American casino officials called "whales" customers who could spend more than $ 1 million overnight.
Among them, there was a particularly famous Japanese.
Akio Kashiwagi of the real estate industry who made a huge fortune by raising the land.
Mr. O'Donnell
"We had a strategy to attract gamblers in the Far East, including Japan and Hong Kong. Mr. Kashiwagi was special among" whales "and was very famous all over the world. 1000 in one play We had a reputation for winning and losing millions of dollars, so we were chasing him very aggressively to get Mr. Kashiwagi to come to Trump's casino. "
O'Donnell, who was in charge of running the casino from Mr. Trump, was looking at his winning and losing records and gambling habits in order to obtain a huge amount of money from Mr. Kashiwagi.
He knew his characteristics: "Don't always stop even when you're winning" and "Once you visit the casino, you'll stay for a few days and place bets."
Mr. O'Donnell
"Many people may not know, but as people in the industry know, the longer the game, the better the casino side. Even if the casino has a low winning percentage, Mr. Kashiwagi We were pretty confident that if we played 8-10 hours a day, 4 or 5 days, we could rob him of money. "
Mr. Trump was paying attention to Mr. Kashiwagi's funds that had swollen due to the bubble.
He is said to hate meeting customers, but he even tried to earn his trust by meeting with Mr. Kashiwagi, who was arranged by Mr. O'Donnell.
Needless to say, the aim was the "huge amount of money" that Mr. Kashiwagi had.
Mr. O'Donnell
"I think that Mr. Trump's time to meet Mr. Kashiwagi was a plus in gaining respect from Mr. Kashiwagi. Mr. Donald Trump explained that there was a trade imbalance or something. I was bashing Japan, but I also knew that the Japanese had a lot of money. Frankly, Donald was in trouble at the time. I went to Japan to raise money. I sometimes went there .. "
Mr. Kashiwagi will visit Mr. Trump's casino in response to the invitation.
The first visit is 2 days.
Although the stay was shorter than planned, Mr. Kashiwagi won $ 6 million.
Mr. O'Donnell
"Donald was dissatisfied when he told the casino that he had lost $ 6 million, and as you know, Donald likes to blame. He was also involved in the decision to invite Mr. Kashiwagi. Nevertheless, he began to say, "That's why I told you to stop." That is, he blamed me for the loss of $ 6 million. "
Soon, Mr. Kashiwagi's second visit, that is, a great opportunity for Trump to revenge will come.
Mr. O'Donnell
"We thought that if we could stay for four days, we casinos would likely be able to get the money back. That's exactly what happened. Early in the game, Kashiwagi started losing."
Kashiwagi lost the previously won $ 6 million.
At that point, the total victory or defeat is even.
Kashiwagi continued to play, losing another $ 4 million.
So at that point, Kashiwagi had lost $ 10 million on his second visit alone.
But he was still going to continue playing.
He had $ 2 million left in his free money.
However, Mr. Kashiwagi did not get a chance to recover.
Mr. O'Donnell
"Because Donald Trump has cut off his bet. He said,'Okay, get rid of this guy,' with a $ 4 million win."
Mr. Kashiwagi lost 10 million dollars and 1.5 billion yen in Japanese yen during this visit.
After that, the bubble burst and he was in debt.
Then, in 1992, two years after visiting Trump's casino, he was found slashed in his kitchen.
Actor Takayuki Yamada lives in the bubble era
In 2022, it became commonplace for everyone to wear masks and walk around the city.
Takayuki Yamada, an actor who lives in the present age, "relived" the bubble era this time.
"Tokyo Black Hole".
This is the third NHK Special broadcast that began broadcasting five years ago.
The first broadcast "Zero Years After the War" dealing with 1945 to 1946 immediately after the end of the war, and the second "1964 of Destruction and Creation" dealing with 1964 when the first Tokyo Olympics were held.
What is common to the programs is that actor Takayuki Yamada, as a young man in the 21st century, transcends time and space into the images of the time and relives them.
Born in 1983, Mr. Yamada was 6 years old at the time of the bubble.
He was in Satsumasendai City, Kagoshima Prefecture, and his parents ran a coffee shop.
It is said that the wave of bubbles did not reach the city.
Takayuki Yamada
"I don't have the feeling of a" bubble ". I feel that there was nothing in my family rather than the times. As a generation, it's our parents or grandpa. That person. When we see it, it feels like we can go back to normal, saying, "We were so sick."
In the year when Emperor Showa died, the Sakashitamon Gate of the Imperial Household Agency was crowded with condolences.
Mr. Yamada, who got into the video of this era, meets young people of the same generation who work in a cabaret club, and meets people who live in that era while living in an apartment.
At the high-paying disco, a bottle of wine worth 2 million yen has appeared.
A salaried worker who works for a large company was able to reduce all taxi fare at an expense.
It was an era when drivers could choose customers as a taxi battle took place while fluttering 10,000 yen bills.
I don't want to go in the bubble era
Mr. Yamada, who will live in 2022, felt uncomfortable in such a bubble era.
Mr. Yamada:
"I think I'm fine, I've been given some great stimulus, and it seemed like everyone was flying away. Until now, even in another drama, something like" getting on the tone "in the middle of the bubble. I've played a character with a "chat" setting, but ... I don't want to go to that era. I definitely don't like it. I have a feeling with those people. After all, I'm too greedy. I have a desire, but at that time it seems like I'm going up to the top even if I take it away ... In short, I don't really understand the feeling of wanting to go over people, and if I was really in that time, I would be my friend. I don't think I can do it. "
In the bubble era, more than half of the people answered that they did not feel any worries or anxieties in their daily lives in the national opinion poll, and many people had "hope" that was completely different from the present age of Korona-ka.
On the other hand, Mr. Yamada, who relived that era, felt "suffocation."
Mr. Yamada:
"Of course, not everyone is everyone in any era, but I think it would have been stuffy. Anyway, everyone looked sideways, competed, and looked up ... That era stopped and looked back. It doesn't seem like it's okay to do it. When you say, "Let's all calm down once, let's take a break," it's like "Huh? What are you talking about?" I think it's not. "
The office buildings were lit up until midnight to move the economy.
Land prices in the city center have soared, and many office workers have sought homes in the suburbs, which take long commute times.
People staying at a capsule hotel for work the next day if they miss the last train ...
The working hours of office workers in 1989 were 400 hours more than they are now.
Fighting Securitiesman Wall Street to resist the bursting of the bubble
The end of 1989, when office workers continued to work, was at the peak of the bubble.
On December 29, the closing price of the Tokyo stock market approached a record high of 39,000 yen.
Some market participants boasted that "100,000 yen is not a dream in a few years."
But the "end" of the bubble came with 1990.
Early in the new year, the Nikkei average fell for the second consecutive day.
In February, it recorded a depreciation of 1596 yen, the second lowest in history, and in March it quickly broke below the 30,000 yen mark.
Mr. Shunsuke Kondo, who was a trader at Nomura Investment Trust at that time.
In the "sell" market, he placed a large number of "buy" orders in an attempt to stop the plunge.
It's been 32 years since then.
Mr. Kondo talked about the tension at the time of the bursting of the bubble and the trauma that continues to this day.
Shunsuke Kondo
"Every Japanese at that time had vague and unfounded self-confidence. I thought that everyone was aiming for 100,000 yen, and all the economists who surround it. I was looking up, so I felt like I was pinched by a fox, why the market was going down in the absence of any bearish people. "
Nomura Investment Trust, where Kondo worked, was Japan's largest institutional investor at the time.
The fact that there are investors who oppose Nomura's "buying" was something they couldn't imagine.
Mr. Kondo:
Until the 1980s, if Nomura put in a lot of purchases in the market, it would be said that lanterns would come on, but all the investors moved in the same direction all at once. As for the futures market at that time, no matter how much Nomura bought, no one came. In other words, the market couldn't return. "
Mr. Kondo and his colleagues Nomura Investment Trust was on Wall Street.
American securities firms, which were aiming for the bursting of the bubble economy, were selling hard as if they had shown each other.
They used a complex technique called "arbitrage," which was not yet widespread in Japan at the time.
Arbitrage is a method of buying and selling futures and cash at the same time and making a profit from the price difference.
He set up arbitrage trading aiming at the timing when the price difference between futures and cash widened due to the crash, and made huge profits.
At the time, Jack Wadsworth was an executive at Morgan Stanley, one of the financial institution groups that "sold" Japanese stocks.
He said he was seeing the game from the beginning.
Jack Wadsworth
"At that time, the Japanese stock market was overvalued. The crash was a natural consequence, and few Japanese investors understood arbitrage. If you keep buying when it's crashing, you're sure to lose a lot. We were on the right side and Nomura was on the wrong side. Unfortunately. "
At that time, Mr. Kondo was unaware of the risks of arbitrage.
The officers of Nomura Investment Trust, who believed that they could not lose, said that they had instructed them to "tighten up" if foreign-affiliated companies are selling futures.
Mr. Kondo:
"If you tighten it up, the other party will give up. In other words, I thought that Nomura would not lose in terms of the amount of funds. I wondered who was selling it. So I don't know exactly what's going on. It was like a bullet flying from where I couldn't see it. "
No matter how much Nomura buys, the market is in a state where "selling" continues.
In fact, Wall Street had a big advantage in how to raise funds.
Nomura's financing is a method of collecting money from customers in the form of investment trusts.
According to Mr. Kondo, in 1989, when the bubble was at its peak, he collected more than 100 billion yen every month, which was the standard method in Japan at that time.
On the other hand, US funding was completely different.
Mr. Kondo
"Bank-affiliated financial institutions, for example, JP Morgan, can raise funds by financing as much as they want. Interbank transactions of the world's most creditworthy financial institutions are trillions in another day. Exchanges are made on the scale of yen. If you say "I want to buy 100 billion", you can raise 100 billion immediately. On the other hand, if you are an investment trust, you have to raise funds from customers. Even if I try to collect it, I can't collect it right away. "
Mr. Kondo looked back on the battle with Wall Street at that time by comparing it to the Pacific War.
Mr. Kondo:
"The composition was such that the machine gun was headed with a bamboo spear, no, the atomic bomb was a bamboo spear. However, it was serious at that time. From the perspective of today's people, it may seem stupid. I don't know, but I didn't notice. "
Many of Kondo's colleagues became ill, and some of them died a few years later.
Mr. Kondo himself says he can't let go of the medicine.
Mr. Kondo:
"I've been thinking about all the bad things for months. When I think about what it's like when I wake up in the morning, I can't sleep and I take stabilizers and go to bed ... It's been a few years, but I still can't sleep without it. "
Akko who saw the burst of the bubble
The wave of the bursting of the bubble was also coming to Akko.
川添明子さん
「銀行も潰れたじゃないですか。父は銀行のOBだったので、2日ぐらい寝込んでいました。持っていた株も全部なくなっちゃって」
周りでバブルを謳歌していた人々も次々と姿を見せなくなった。
川添さん
「『ああ、あの人もやっぱりいなくなっちゃったんだ』とか、逆に『えーっあの人が』みたいなこともありますけど、次々いなくなっていく。何かこう胸が酸っぱくなるというか。お祭りの後の屋台を片してる風景を見るみたいな感じでした」
まるで、1929年の大恐慌後の時代を描いた、フィッツジェラルドの「バビロン再訪」の冒頭のような描写である。およそ百年前のアメリカも、この成長は永遠に続くという夢に酔っていた。バブルの象徴だったアッコはその時代をこう振り返る。
川添さん
「本当に日本が初めてお金持ちになって、戦後ずっと、頑張って、頑張って、頑張ってきて、『やっとお金持ちなった。わーい』って、遊んじゃったらはじけた、そんな時代でした。ただ、その時代はみんなが『楽しみたい』ってあがいてたんだと思います。何か知恵を出して楽しくしようと、遊んでる側も店側も考えてもっと楽しむ、そういうことにエネルギーを使っていました。だから楽しかったんじゃないかなと」
バブルは、確かにイノセントな時代だった。その時代をくぐり抜けて、日本の社会は成熟を目指すことになった。
しかし何をもって、「成熟」とするかは難しい。今の日本で目につくのは、「成熟」よりも「あきらめ」かもしれない。
バブルの時代に結婚し、子どもを産み、現在はさまざまなビジネスを展開するアッコこと川添明子氏。
現代まで長く続く日本の迷走の元凶とも言われるバブル。
そして新型コロナウイルスの感染拡大。
「不安」を抱える“現代”をバブルの時代と対比しながら独特の目線で見ている。
川添さん
「日本は賢くなったんじゃないかって思います。バブルによって。『あんなことしていたらダメだ』というのを学んだんじゃないですか。バブルの時はただもう右へ倣えみたいな感じがあって、隣の人がお金借りているから、オレも借りちゃえみたいな、そんな感じでした。一方で“現代”は、自信がない、みんな冒険しなくなっちゃった。日本は、清潔だし、物価も安いし、安全だし、人が親切だし、何で今、そんなに元気ないんですかって言いたいです。なのに、何してんですか？って。今は、つまらない。遊ぶ側もお店側も、この知恵を出して、何か楽しませようっていうのがないと感じます」
現代は“十分平和で潤っている”
番組の撮影でバブルの時代に入り込み、その映像の中から“帰ってきた”俳優の山田孝之さんは、アッコと違う目で現代を見るようになったという。
それは、活力が失われたと言われる2022年も、そう悪くはないのではないか、という感覚だった。
山田さん
「なんかバブルの時代よりは今の世代のほうが気楽に生きられてるんじゃないか、ちょっと安心して生きられるんじゃないかなとは思います。僕の学生時代よりもっと前にバブルがあった。いま考えると、バブルがはじけて下がったところから“上がっているんじゃなか”って、すごく思ってます。国の借金のこととか…いろんな数字はありますけど。それでも、人から奪ったりもせずにみんな食べていけて、もう一般的に生きていけてるから、十分平和で潤ってるんじゃないかと思っています」
4月下旬。バブルの時代の証言者たちにインタビューを行った取材班は多摩美術大学を訪れていた。学生たちに取材や番組制作の過程を直に伝えたかったからだ。
過去の映像と現代の俳優を合成するVFXの手法、時代や風俗を表現するためのロケーションや工夫など、現代にバブルの時代を甦らせる「東京ブラックホールIII」の舞台裏を語った。
集まった大学生は当時のアッコと同世代。
バブル当時、まだ生まれていなかった現代の若者たちが、放送や記事を通じて出会う“時代の証言者たち”の言葉から、今を生きる何かのヒントを見つけてくれたらと願うばかりである。
山田孝之さんが、バブルという狂乱の時代を追体験したNHKスペシャル「東京ブラックホールIII 1989-1990 魅惑と罪のバブルの宮殿」
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丸山 拓也
2007年入局、鹿児島局、制作局、仙台局などを経て、2022年から制作局。クローズアップ現代やNHKスペシャルなど、ドキュメンタリー番組を中心に担当。
Keisuke Okubo
Joined the station in 2009, worked at the current project center after working at the Sendai station and production station.
He has been in charge of professional work style, Close-up Gendai, NHK Special, etc. in the past.