ABSTRACT
This chapter argues that Heisei Japan's political economy and Nippon Professional Baseball (NPB) suffered parallel lost decades as the consequences of their embrace of systemic inefficiencies ran up against rapidly transforming domestic and international circumstances. The three elements of the iron triangle – LDP politicians, bureaucrats and business – were forced to adapt to the new environment. NPB suffered from the tyranny of Giants owner Watanabe Tsuneo, the challenge of J-League soccer and the steady drain of talent to America's major leagues. By 2003, reform efforts by the government of Koizumi Junichirō were just beginning to have a significant effect while parent companies struggling under the weight of massive bubble era corporate debt could no longer support money-losing franchises. Something had to give.
