Japanese economy and business management after the burst of the bubble are trapped in a severe circumstances. According company housing in going to face with a drastic change. Company housing is a unique system in Japanese management and played a part in leading Japanese economy to its prosperity. At the peak of the bubble boom, the company housing, apart from its primary function, played a role as a symbol of the company's prosperity. However, it now becomes a priority asset to sell in company's restructuring effort. This paper will illuminate actual conditions of company housing and other fringe benefit facilities. We will, then, discuss what effect the abolition of these facilities brings about to local economy. This paper will try to foresee how business circumstances and company housing should be managed in future environment of further globalization.