The Asagaya Tanabata Festival takes place every year in the Asagaya Pearl Center. The festival is tradition in East Asian culture taking names such as Qixi Festival in China and Chilseok in South Korea. It celebrates the meeting of two deities, Orihime and Hikoboshi, who according to legend are separated by the Milky Way.

The festival in Asagaya was set up in 1954 by merchants seeking to increase their customers. The festival is famous for its paper-mâché recreations of cartoon characters as well as the traditional Japanese games and a great diversity of foods.