Does Japan have a bright future? The pessimists, including apparently most Japanese, would likely answer in the negative amid widespread gloom over the nation's Heisei Era problems of debt, deflation and demographics. An astute analyst of modern Japan, Tokyo-based academic Jeff Kingston's latest work does not attempt to hide the varied socio-political ills facing the country, including increasing divorce, suicide and social disparities.

But amid the gloom, there is evidence of a new society slowly emerging from the postbubble slump.

"Many countries would love to have Japan's problems," Kingston contends. Hope could yet be rekindled should the reformers succeed.