Despite all the logic reasoning behind Japan going under I do agree in ways that Japan is definitely a lot safer than initial figures seem to show.

News always compares Japan with other nations with similar levels of debt compared with GDP such as those in Europe, but does not take into account the huge differences in society.

Japanese debt is primarily controlled within Japan.
Japanese society works very hard with high employment rates doing real jobs, not the jobs that are created by governments for statistical reasons.
The Japanese public generally do not invest outside of Japan regardless of interest rate changes.

I believe these points above have a huge impact on how Japan is much safer against future debt issues.
Just think about how Japan is compared to Greece in GDP to debt but the fact is employment in Greece is extremely low compared to booming trade in Japan despite what figures say I can tell you as a resident in Japan that compared to places like England, jobs are very abundant.

My main worries in future issues of debt are that it is not under control and that the shrinking population puts a burden in pension, real estate companies and debt per person, but I also believe even the worst will not be anyway near as bad as countries in Europe, especially because debt is generally controlled within Japan meaning the worst is that investors in Japan lose their saving/investments and they have to start earning all over again.