Sounds more like a high school (non) talent show. There's a Sakura Taisen one as well, but this one was performed in Aoyama if I'm not mistsaken. IE - a full on production. Not 3 toolbags in cardboard. That Sailor Moon shit is just wrong.
I have a Saturn disc with MPEG clips from the Sakura Taisen show. It actually looks quite well produced with a decent budget. Yakumo