This isn't a new thing, but it appears that it is being implemented with renewed vigor this year. I blogged about this back in 2002. According to the Japanese Wikipedia, they think that it will save about $1B.
I suppose I'm a schmuck for complaining about something so socially and fiscally good, but for some reason this kind of suffering feels very Japanese and annoying. There is something very ceremonial and inefficient about it. Maybe it's just that I'm sweating my ass off in a cool biz zone. Maybe this is a signal to me to figure out a way to save $1B for the Japanese economy and help the environment. Maybe we can start by firing all of the retired bureaucrats that they force companies to hire who get paid a mint and driven around in black limos.