Swiss artist H. R. Giger, best known for his work on Ridley Scott's ALIEN, contributed concept art for the film. He originally showed interest in working on set, however his schedule would not permit it.
The film and its two sequels would later influence many subsequent elements of Japanese fantasy pop media. For example, the villain Yasunori Kato would go on to inspire the design of the antagonist M. Bison in the internationally successful Street Fighter video game series.
The character of Dr. Makoto Nishimura is based on the historical biologist and inventor of the same name. He is played by the historical scientist's real life son, actor Ko Nishimura.
In 1988, this was arguably the most expensive Japanese fantasy film of all time boasting a budget of around $14 million (when converted from yen).
Generally considered the last of the big budget Showa Era tokusatsu (live action special effects) films due to being released in 1988, a year before Emperor Akihito rose to the throne. From 1989 on, all tokusatsu productions would be referred to as Heisei Era films. One of the major narrative transitions in TOKYO: THE LAST MEGALOPOLIS is the passing of the Emperor Meiji.