Yes, agriculturally Japan's volcanic histroy leaves it rich in that area. I'm meaning the types of resources an industrialized nation would need to maintain itself.

Methane Hydrate is very common in the oceans. They believe 90% of all methane is in hydrate form, it's located very deep and would be difficult to extact by today's methods..If the hydrate by the islands is closer to shore or in an area more easily acessable..Japan may have problems in the future with China reguarding those islands, as China's energy consumtion has surrpassed the US.