Emperor Akihito of Japan formally stepped down on April 30, the first abdication for 200 years in the world’s oldest monarchy, as his son Naruhito prepared to take the Chrysanthemum Throne and usher in a new imperial era.

In the Room of Pine in Tokyo’s Imperial Palace, the popular 85-year-old performed the abdication ritual in the presence of the imperial regalia - an ancient sword and sacred jewel that are considered to legitimise an emperor.

In his final speech, Akihito offered his “deepest heartfelt gratitude to the people of Japan” and said he would “pray for the peace and happiness of all the people in Japan and around the world”.

Hundreds of well-wishers congregated outside the palace during the historic ceremony attended by around 300 people, including Prime Minister Shinzo Abe and around a dozen members of the royal family.

Akihito will technically remain emperor until the stroke of midnight when Naruhito takes over and the new era of Reiwa - meaning beautiful harmony - begins, lasting for as long as he reigns.

On May 1, the 59-year-old Naruhito will inherit the imperial regalia in a 10-minute ceremony that is off-limits to female royals, even his wife Masako. He will shortly afterwards make his first address to the nation as its 126th emperor.

A more public enthronement ceremony will take place on October 22, during which Naruhito will parade through the streets of the capital and be congratulated by other world leaders and royalty.

Born in 1933 as Japan was embarking on a militaristic sweep across Asia in the name of his father Hirohito, the 11-year-old Akihito listened in tears as his nation’s defeat in World War II was announced in an unprecedented radio address.

He has broken new ground in the sensitive role, expressing regret over Japan’s wartime actions and gradually modernising the royal family and bringing it closer to the people.

Akihito and his wife Michiko, whom he met at a tennis tournament in 1959, touched hearts in Japan and around the world when they knelt before survivors of the 2011 earthquake and tsunami and listened to stories of terrible suffering.

The Oxford-educated Naruhito now faces the delicate balancing act of continuing his father’s popular legacy while upholding the traditions of the Chrysanthemum Throne that stretch back centuries.

He has called for new royal duties to fit modern times and has criticised the sometimes stifling lifestyle imposed on royals, especially as his wife Masako has struggled to adapt to palace life.

The abdication has resulted in a 10-day holiday in Japan, although polls show many famously hard-working Japanese were opposed to such a long break.

Japan has witnessed a tumultuous change from 1989 when it last ushered in a new era.

Then, Japan ruled the world economically in the middle of a technology-fuelled boom that caused soaring land prices and sparked wild cost comparisons: the Imperial Palace grounds were said to be worth more than all of Canada.

Now, Japan is battling sluggish growth and low inflation with a population in decline that will soon become the world’s first “ultra-aged” society, with 28 per cent of people over 65.