I don't see it working; MS seems to have lost Japan completely (apparently, some shops won't pay more than ¥500 for used 360s because they have so much trouble selling them).
Also, every thread I've seen where the main focus is 360 sales in Japan seems sooner or later to turn into a flamewar where people say that the Japanese won't buy them because they're xenophobic, so Inb4 flamewars