Correct- they pay the interest on their staggering debt by QE - printing more yen! But increasingly all the USD subservient fiat currencies are doing this. We are headed for collapse of the petrodollar based global hegemony under which Japan, .S.Korea, Australasia, UK and Europe have been monetarily and militarily subservient tribute states to the US of A.

Princes of Yen is a must see doco to understand this.