If you compared it to hunting deer and moose and elephants and lions and whatnot that would be more of a comparison. Still the difference there is individuals are getting hunting licenses as opposed to an entire country.
You can compare tuna fishing and crabbing and that would probably be the best comparison, and depending on what you read even those have sustainability issues.
I think it is quite silly to hunt some species almost to extinction and ban it for awhile just to repeat the events of the past (lather, rinse, repeat i guess). But i am not Japanese and would not enjoy eating whale meat.