Are there effects of the zero interest rate policy in Japan that Europeans are concerned about?

Interest rates have been virtually zero in Japan since the late 1990s, while they have been zero in the euro zone since 2014. It is therefore interesting to determine whether or not there have been effects of the shift to zero or negative interest rates in Japan that Europeans are concerned about: Weakening of banks and institutional investors; Asset price bubble; Savers switching to money ; Capital outflows; Hardship (poverty) for pensioners; Inefficient companies being kept alive, declining innovation and productivity gains. From this list we can only see a switch in savings to money and capital outflows.