From what I've seen, street racing in Japan is still very much alive, albeit not as widespread as it once was. The authorities have been cracking down on this risky hobby, but that hasn't stamped it out completely. There's a certain subculture that is still fascinated by the adrenaline rush of illegal racing, especially in the wee hours. However, it's not always about the speed - some racers are more interested in showing off their custom-made rides. So yes, despite being less visible, street racing continues to be a part of Japan's urban fabric.
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