A notion persists that when it comes to urban planning, property owners have the final word. And that, generally speaking, the people in charge know best. There is little protection from demolition for landmark buildings, even when they are labelled - as the Kabuki-za is - "tangible cultural assets".
I had the opportunity of seeing some performances at the Kabuki-za last January, and I can attest that the building looks great. Its a bit of a jewel of Ginza I think, as there aren't many buildings like that left anywhere.
The article also mentions the 1968 destruction of the Frank Lloyd Wright designed Imperial Hotel, a sacrilege to a resident of Springfield, home of Wright's Dana-Thomas House. I hope that everyone will come to their senses before Japan completely destroys its own physical heritage in favor of ugly and ever-larger concrete rectangles.