You may be familiar with the "akiya" phenomenon, where empty houses in the Japanese countryside are sold for a song. The same applies not just to residential homes, but to other buildings as well, and their price tag is very low for the same reason: the property has serious issues and/or has been vacant for years, and will require far more than the initial investment to make habitable.

Here's a fascinating blog post by someone who went poking around the ruins of one hot spring town (Kinugawa) that went through a particularly dramatic boom and bust cycle: https://spikejapan.wordpress.com/2010/06/14/983/

This particular hotel at least appears to have been open until fairly recently, but Google reviews describe the "Showa-era" furnishings (read: 1980s at best), and it's on the fairly grim slate grey Kujukurihama beach 3.5 hours from Tokyo by train: https://maps.app.goo.gl/G53KWyCsmeUy8JyR9

I was thinking the same thing. In many parts of the world, even a failing / debt laden business would be worth much more than that.

My understanding:

Before: Need $50k in bank, register business, sponsor yourself for a visa

Result - lots of people just abusing the system for a visa

After: Need $300k, must hire at least one local, must show a profit of $200k within 2 years. Must be reviewed by the government multiple times a year to show your business is serious

I can see some issues. If you want to start a company that requires a year or more of R&D before you can ship you're S.O.L.

Why should Japan allow $30k? Doesn't make sense.

I had a friend who was looking to move to Japan and abuse this visa. The business was only there to get the visa with no intention of operating it.

I'm not Japanese and I don't live in Japan but even I think this new law makes more sense than previous.