Dotonbori, in Osaka. The running man is a logo of the Glico company, makers of Pocky, among other things -- I've spotted souvenirs in Osaka bearing his image. For comparison, here's a photo I took of the same place, in 1990:

Notice how almost every sign has been replaced, except for the one right next to the Glico man, and even that one's been updated -- it looks kinda like a green Papa Smurf, wielding a fire hose.

More images of the Glico man