Geeze, what a pile of sanctimonious patronizing bullshit . . . and he even believes it.
What it's about is social cohesion. There are two ways to create social cohesion; one is to create a society of mutual aid, where society helps people and people help each other. The other is to make a lot of written and unwritten rules, forcing certain kinds of behaviour, getting people used to observing the norms and being told what to do. Japan does a fair amount of both. The problem with relying too much on the first kind while ignoring the second is you get people who won't sit still for being treated badly, and Japan (well, the parts that make the rules) wants to keep its social stratification going so that's out.
In North America, we rely on consumerism for our social cohesion . . .