(UPDATE as of 4:35AM November 23 Japan Time)
At 3:08AM, the Aichi prefectural police made a daring rescue attempt which was successful. The police released the hostages and arrested the man, according to Chunichi Shinbun. Before he was finally arrested, he had gotten all he wanted - bento, drink, cigarettes, megaphone, flood light - except for one thing, obviously: resignation of the Noda cabinet.
It will happen anyway, post-election, whether Mr. Noda is able to form a coalition or not.
I thought it was a made-up story in one of the popular Japanese message boards, but it turns out to be real.
I don't think I have ever heard of a Japanese hostage taking situation where the demand is the resignation of the cabinet.
From Yahoo Japan News quoting Yomiuri (11/22/2012):
A man with a knife barricades himself in Toyokawa Credit Union, takes 5 hostages
There was an emergency notification from Toyokawa Credit Union Zoshi Branch in Zoshi, Toyokawa City in Aichi Prefecture at about 2:20PM on November 22 to the Aichi Prefectural Police.
According to the Police and the credit union, a man in his 30s or 40s has barricaded himself with a knife, and 5 people including bank employees and a customer have been taken hostage. They are a male deputy branch manager (41 years old), female employees aged 27 and 19, a female part-time worker aged 55, and one female customer.
The branch is shuttered and one cannot see inside. To the policemen who have rushed to the scene, the man is demanding food and drink. He is also demanding the resignation of the Noda cabinet and the media coverage.
FNN News says the man also wants a megaphone.