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I'd call it 1 of 4 things.

1) Historically the Japanese market only adopts one console at a time. They tend to pick early in a generation and stick with it.

2) Lack of Japanese centric gaming. There is a pretty big lack... well aside from Gundam beign thrown in the name of stuff. Some of the "big" japanese titles are there, but the small ones aren't... and some of the big ones have moved on.

3) Japanese stock market sucked lately. How's the rest of their economy?

4) Build up to "Golden Week"? Seems way to early for that but who knows.