Matsuri is a yearly festival that takes place in downtown Phoenix every spring. I have been attending (and volunteering) at this festival for more than 5 years and it's grown overwhelmingly in that time.
Matsuri started as a major showcase and auction for koi owners in the valley but it has grown to a big event that's enjoyable for everyone.
The festival features vendors selling native and pop-culture items from Japan, a display of Bonsai and fine art, and entertainment of martial arts, music and fashion.
Keep an eye on the website for dates and information.