I vote for probably not.
I say this for several reasons.

Back in the 1920's the Japanese elite had one major concern.
It was the establishment of the so-called PEACS, or Pan East Asian Commonwealth Sphere.
It's aim was to promote self-reliance on a regional level and to have an equal say in the international arena not only as a nation, but also as a tightly knit group of countries in military and economic alliance with Japan in the center. When its ideal was challenged in March 1, 1919 in Korea and May 4, the same year, in China, those Japanese leaders were frustrated and fearful of the opposition that may lead to the eventual collapse of PEACS. This uncertainty and insecurity of Japan's leadership must be kept in mind when we discuss the massacre of 1923.

The two Japans we are comparing, that of 1923 and that of 2005, are 72 yrs apart. The old, xenophobic, and totalitarian mindset of the average Japanese citizen has now been replaced by the new, individualistics, and cosmopolitan perspective. The old generation has been flushed out at least three times since then. Therefore there is little chance that such savage calls for genocidd can again drive the mass to the streets for lynching and torture of any one group of innocent alien residents.

The "ugly Japanese" also seems to be a stock image portrayed in the media by attention seeking reporters, alarmists (since the late 1800's by the way ) and the broadcast networks, whether Japanese, Europian, American, Asian, or other. It is about time to declare that there is no more place in the media for presenting biased and prejudiced images of the Japanese people. In the worst case, such bad-mouthing of Japan may even help the minority ultra-right wing members to pursue their crazy ideals, whatever that may be. I firmly believe that they, the extreme nationalists and those media people who feed on them, are both dinosaurs that posterity will read about and study with amazement in the libraries and the museums.

These are some of the reasons I vote for "probably not."