TOKYO—Last year, China native Tomo Hayashi, the owner of a metals-trading firm, moved to Tokyo. He quickly adopted a Japanese name, spent the equivalent of about $650,000 on a luxury waterfront condo and, in March, brought his family to join him.

       The 45-year-old, whose two boys just started in a Japanese elementary school, is one of the many wealthy Chinese driving a boom in high-end Tokyo properties and reshaping the city.

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