Yes, that is true - in about 40 years from now.
I suppose I should have said Japan's days are over in the medium term.
Once Japan's population is renewed in terms of age - and when all of the elderly die off - things may bounce back up.
I do wonder, however - because you see, we are dealing with a lot more than just aging population and crappy economy.
https://en.wikipedia.org/wiki/Hikikomori
We are observing the exact same thing in Korea as well - where now, government is offering young people money just to start participating in society. Personally, I blame the technology - and I think it should perhaps be the most talked about topic of today - it's destroying the youth.