Yes, objectively these characteristics of Japanese corporations seem like inefficiencies in the "free market". Lack of mobility across companies (no price disc

Yes, objectively these characteristics of Japanese corporations seem like inefficiencies in the "free market". Lack of mobility across companies (no price discovery on wages), lack of specialization (no focus), age based hierarchy (anti-meritocratic). None of these sound good for a well-tuned system. I suspect much of Japan's stagnation is due to this system.