The statement is True
In the next few years, a shrinking working population will be supporting a growing number of retired people.
This is because in the last 50 years, Japan has developed a high-quality lifestyle with the highest life expectancy in the world.
However, at the same time, the number of people getting married or having kids has steadily been declining.
Japan has also not opened up their society to foreign immigration.
This is resulting in a population decline overall and a situation where there are fewer and fewer younger people.