We do this in the US as well. Many jobs require health checks to ensure you're for enough for respirator use and general physical activity. You get more targeted feedback though, and not a general grade on health.
Generally I think we should pay more attention to our health.
I'd say it's good. It's no less intrusive than any normal checkup. Promotes healthy living. Nobody wants to be the guy whose exam paper says "dude your lifestyle sucks".
Behind it all is the permission structure that lets them sell Fruity Pebbles, poisonous vaccines and unneeded surgery in the first place. The medical industry does a lot of harm and the Japanese mitigate that while we encourage it.
Generally I think we should pay more attention to our health.