Players are introduced to the current version of Tokyo Flashback within minutes of character creation; whether this still involves meeting with the Fallen King in London is not clear.
Ragnar does state, that this is the Tokyo metro.
As progress is made through the subway, Alex McCall, Rose White, and Mei Ling mention The Filth, the Council of Venice, and Jack Boone. Zuberi, met after the others become infected with the Filth, has you heal an Orochi Group member, your first meeting with them.
Originally this area was called Tokyo Future and served as a method of learning game play and different weapon styles. Whether this is the case in release is not certain at this time