According to the records, this festival float was rebuilt in 1805 and has the longest history among the seven festival floats currently present in Obuse.
The float was constructed based on the request of Kozan Takai, who received the wish of Obuse villagers at that time, and a part of its ceiling was remodeled to contain paintings of a dragon and a phoenix.
Higashimachi Float has been designated as an official treasure of Nagano Prefecture
In 1844, when Hokusai visited Obuse at the age of 85, he spent half a year preparing the dragon and the phoenix paintings on the ceiling of Higashimachi Float. A dragon figure on a flaming scarlet background is contrasted by a phoenix figure on dark indigo background, representing the Chinese concept of Yin and Yang that enhances the decorative effect of the stage.