The culture is still there, although it depends a lot of the companies - corporate culture takes a whole new dimension in Japan, and someone working in Sony or Panasonic could as well work in different countries.

To give an example of what companies expect from people (told first hand from people I know personally, or even witnessed myself): you may be asked to work overseas (which most Japanese hate) in a matter of days. That is, the company will tell you: could you please work overseas for one year starting next week ? You can say no, once, if you don't mind having no career in the company. Worse, I have seen the situation where people were given that deal, to be said the day of the depart that no, they won't be needed overseas overall. Note that those people often have wife, children, etc...

単身赴任 (tanshin funin): To send a corporate employee on a long-term stay at another location unaccompanied by his wife or children. If your language doesn't have a word for this, be glad.

I did not know the Japanese expression, thanks.