In 1991, the bursting of the Japanese asset price bubble marked the beginning of a prolonged period of economic stagnation known as the Lost Decades. This collapse in real estate and stock market values led to significant financial turmoil and a reevaluation of economic policies in Japan. The aftermath of the bubble's burst had lasting implications for Japan's economy and its approach to financial regulation and growth.

The bursting of the Japanese asset price bubble in 1991 catalyzed a shift in contemporary poetry, moving away from corporate optimism. Poets began to explore minimalist and existential themes, reflecting the disillusionment of youth in a rapidly changing society.