One of Japan's oldest and most visited shopping streets in the heart of Tokyo's touristy Asakusa district is bracing for a massive rent hike.
The 89 stores lining the narrow 250-meter-long Nakamise dori shopping strip leading up to Sensoji Temple sell anything from senbei (rice crackers) to affordable kimono and mock samurai swords. It is one of the nation's hottest tourist draws and is especially popular with overseas travelers looking to stock up on Japanesque souvenirs before heading home.
Until now, tenants operated under a unique arrangement: While the land belonged to Sensoji, the shops were owned by the Tokyo Metropolitan Government, to whom the shopkeepers paid rent.