Having said that, high level high schools in Japan have a bigger curriculum than what I was familiar with (in Canada). They will cover quite a lot of the stuff that you'd cover in first year university. However, I'll agree that it probably isn't that much different than what students voluntarily cover if they are trying to get into competitive universities in the US, for instance.
Finally, I'd like to echo that students in low level high schools in Japan generally have a lot of fun. It was probably the best atmosphere of any place I've ever worked. Obviously there are some students that are having problems, but the vast majority really enjoy this time. You can see it on their faces -- smiling all day long.
I'm not planning on having kids, but if I were, I wouldn't hesitate to put them into the Japanese school system. Personally, I love it. There are advantages and disadvantages, but as long as the parents aren't pushing their kids into places they don't want to go it offers a lot more opportunity, IMHO.
Just one last point, since it was raised above: employers do spend a lot of time training. I had a friend who graduated from a prestigious university as an engineer. She went to work at a fibre optics company. She spent the first 2 years there building cables and studying. The company wanted to make sure that she understood everything about the business from top to bottom. Now nearly 10 years later, she's managing an engineering group. Very different environment.