Japan isn't more technically advanced than the US or Europe.
They are better at miniturization and applying some technologies to consumer goods.
In the big fields like Aero-space, shipping, computers, wireless, biotech. The Japanese are very far behind.
I could see a system like the Japanese are trying to implement work if done right, but when you have a fusion of private and public sector, it's not going to work.
This is how you make it work.
Little punch cards stored in a basement somewhere.
If you put this data on a computer with a network cable hooked up to the back it will not be secure.