I would venture to answer with a no.
The design philosophy behind the TIE Fighter prioritises speed, agility, cost-effectiveness and mass production capability. Ironically, it originated from the stellar performance of Jedi Interceptors during the Clone Wars, when many subsystems were stripped away because Jedi don't need them - targeting systems, navigation controls, hull armour and shielding, you name it - thus lightening up the craft and making it even faster and more agile, suiting the Jedi's style. Imperial engineers adopted the Jedi Interceptor, transforming it into the TIE Fighter. Without the Force to guide Imperial pilots, however, they can't achieve the same performance and thus become bad shots and easy kills for Rebels.
Japanese fighters don't follow the same design philosophy. The reason their fighters are faster and lighter isn't really because they chose some particular trade-off, it's just the simple fact that technology had advanced from World War I to World War II. During the intermittent years, the Western world was recovering from WWI and the Great Depression. Japan was directing all economic efforts to war industry in preparation to conquer the world.
By the time Japan went to war, they were equipped with a modern army characteristic of World War II. Their main enemy, the Chinese, however, were still armed with Russian and German equipment dating back to World War I. Of course the Japanese fighters would be lighter and faster but in no way more vulnerable - the stats are superior in every aspect. When Japan advanced into Southeast Asia, they faced little resistance - Europe was at war, they neglected the colonies and even chose to yield them to focus at home. My own country, Singapore, is a classic example. We are supposed to be the most fortified colony in the entire subcontinent, but all we had were 2 ships, a bunch of obsolete fighters, and no anti-armour weaponry (the British didn't think tanks can pass through jungle, and whatever arms they do have, they abandoned them in Malaya and fled when they saw the tanks coming). By the time the Japanese arrived at the opposite shores, the only thing Singapore, that famed impregnable fortress, had were infantry and a few artillery guns. We fell in two weeks, in time for Lunar New Year.
As you've mentioned, you're referring to early in WWII. That's when Japan held a clear technological and psychological superiority. By the end of the war, when America entered, the tides turned. America brought an even more modern army in, and it is now the Japanese who are technologically outclassed.
In reality, the comparison between Imperial TIE Fighters and Rebel X-Wings aren't equivalent to the comparison between Axis and Allied fighters. More accurately, early Allied fighters are Naboo Starfighters, Axis fighters are TIE Fighters, and late Allied fighters are Resistance X-Wings. See the difference?