30 years ago there were SERIOUS problems expected to come. The doomsayers were all just comprehensively wrong, there's just no fearmongering your way around that. Japan is a stable and prosperous society that's not significantly worse off than the best and richest countries in the world. On the contrary it's right up the top of many metrics.
It's funny, still today it has like 4x the GDP per capita of China and yet hearing it from these propagandists^Weconomists you'd think China is some kind of futuristic wonderland where everything turns to gold and Japan is a crumbling wasteland (or soon will be.... aaaany day now, for the past 30 years).
Japan's got issues, every country does. You think the US or Europe don't face serious economic problems in the next 40 years? As populations around the world peak and resource extraction and primary production peak, cheap fossil fuels are phased out, everybody's chickens will be coming home to roost. That's not a Japan problem, that's everyone's problem. Rich countries like Japan have a lot of room to cut expenditure and raise revenue. They don't because it's not popular, but they can and will (have to).