The origin of the store name "Nakaiya" comes from the founder of the family, Nakaiya Jubei, who was born and raised in this area in 1820 during a time of depopulation.

At the age of 20, he moved to Edo and stayed with the bookseller Izumiya Zenbei, where he studied Japanese classical studies, Confucianism, Western studies, medicine, artillery, and martial arts. At the age of 35, he published a book titled "Kodomo Kyoso" (Children's Teachings). This book describes the way of life of humans, stating, "profit through profit," a philosophy he followed throughout his life. In 1858, upon the opening of Yokohama Port, he built a magnificent store (known as the Copper Palace). With the support of enlightened shogunate officials, he became Yokohama's leading trader. Records show that Nakaiya sold approximately half of the 35,000 kin of raw silk exported between June and October of that year. As both a scholar and merchant, Jubei believed that "the country was being misled," and supported the ronin, even at the risk of his own personal ruin. It is said that Jubei provided the pistol used in the Sakuradamon Incident. He was the person who contributed most to the opening of Yokohama Port and is considered a pioneer who laid the foundation for the raw silk industry in his hometown of Gunma. In 1991, the film "Douten" was released nationwide, starring Kinya Kitaoji as Jubei. In 2003, a memorial was erected at the site of the Yokohama store.