Citing the difficult economic climate, O'Reilly and TechWeb have pulled the plug on the Web 2.0 Expo Tokyo 2008. Apparently "the current business climate was not conducive to guaranteeing the success of the event"
I went along last year, and while there wasn't a lot of excitement in terms of services and startups, I made a load of good contacts. It's a shame they couldn't work out some way to reduce the cost of the event.
Here is the story: http://tokyo.web2expo.com/