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Although on the other hand it really doesn't stand a chance against China's nuclear arsenal.I beg to differ; According to the U.S government, Japan maintains a latent nuclear program. According to their assessment, Japan can go from "Hey, let's build a nuclear weapon stockpile" to actually having that stockpile in as little as a few months. (Source: http://zidbits.com/2012/02/which-country-is-closest-to-build...)
Germany comes in second place and could have nuclear weapons nearly as quick.
> Or just a cover for not saying "we're preparing for an eventual conflict with China"?
Right now, if North Korea launched a missile at California, Japan would have to watch as it sailed over Tokyo. They legally cannot shoot it down in protection of their ally. Japan wants to change that. They want to be able to protect and assist their allies in more than just a minor supporting role. Japan was there in Iraq and Afghanistan, they just weren't in combat roles. They were there providing medical aid and resupplies.
People (incorrectly) think that Japan is trying to become 1935 imperial Japan again. That's not it - they just want to be like everyone else. Right now, they have less freedom (militaristicaly) than everyone else. Significantly less than Germany too.