The "nipponized bit" refers to the Chicago elevated subway - it was dismantled and sold to the Japanese (Nippon) immediatly prior to WWII, as scrap iron. They melted it down for munitions, which they then lobbed against the US (Pearl Harbor).
It is very much like smokers saying, "Your business will suffer..."
But no one listens.
If not, would you be kind enough to post it?