What's a Bonenkai?
It's a big and common annual event which takes place at the end of every year. The literal translation of the word is to "forget the year party", which means people have parties with the purpose of forgetting about the troubles and all bad memories that happened in the year and have hope for the good things to happen in the coming year.
In the West we have parties as well at the end of the year. We call them:
An office party (i.e. ) I'm going to an office party.
A Christmas party (i.e.) I'm going to a Christmas party downtown.
A company party (i.e.) We have a company party next weekend.
An end of the year party (i.e.) The gym I go to is having an end of the year party.
This is our favorite time of the year!
Get out and have a drink!