The Tokyo Game Show opened this weekend at the Makuhari Messe convention center in Chiba. The show runs until Sunday. Among the announcements made at the show, Sony Computer Entertainment president Ken Kutaragi revealed that the Playstation 3 will have a retail price of 49,980 yen, instead of the previously announced 62,790 yen. This is a significant drop, but the price is still almost twice that of the Nintendo Wii.