Japan regains independence. 1964 Tokyo Olympics. 1973 Oil crisis. Economic growth cut. 1979 Second oil crisis.
Japan becomes world's largest aid donor and overseas investor.
1989 Death of Emperor Hirohito. Tokyo stock market crash. 1991-1992 LDP torn by factional disputes, further financial scandals and the issue of electoral reform. 1993 Reformists split from LDP and create new parties. Morihiro Hosokawa becomes prime minister at head of seven-party coalition.