Events in the year 1989 in Japan. In the history of Japan, it marks the final year of the Shōwa period, Shōwa 64, upon the death of Emperor Shōwa on January 7, and the beginning of the Heisei period, Heisei 1 (平成元年 Heisei gannen, gannen means "first year"), from January 8 under the reign of his son the current emperor emeritus. Thus, 1989 corresponds to the transition between Shōwa and Heisei In the Japanese calendar. 1989 was the first year of Heisei in Japan as well as the all-time peak of the Nikkei 225 stock market average.