Olympic Games are commonly used to promote urban renewal projects. Often, such renewal activities are criticized for inducing the displacement of poorer populations. This chapter examines the extent of residential displacement related to the 2020 Olympics, arguing that the decision to host the Olympics has accelerated the pace of ongoing urban transformation but has not initiated any major residential redevelopment project apart from the Olympic Village complex. Tokyo is a far cry from being a socially just city, but the peculiar features of the real estate market mitigate the forces of residential displacement inherent in entrepreneurial city politics.