Stocks peak at different times within the bubble period (バブル 時代) 1985-1991

Daiso peaked in a Nov'87/Jul '88 double top while Kanto Denka Kogyo peak in Feb '84, well before the bubble had popped in earnest.

However, some small cap stocks(<100 mil shares issued) even peaked AFTER the Nikkei had declined by more than 20% in 1990:

Conversely, the largest city banks' share prices peaked by Apr '87, many having increased 10-fold(!) from 1983 levels as the market discounted improved earnings, which mostly doubled or more in the 3 years from '85-88:

2 of the largest long-term credit banks, the Industrial Bank of Japan(日本興業銀行), which in 1989 was the most valuable bank in the world, & the LTCB (長期信用銀行) proved the exception to the above, pipping their '87 peaks at about the same time as the Nikkei peaked at 38,957.44 at the juncture between 1989 & 1990:The former would eventually be so financially damaged by the bursting of the bubble that it was folded into a 3-way merger with two other crippled banks( one of which was Fuji, above) while the latter would collapse altogether less than a decade later, wiping out shareholders that included at least one American pension fund: