My company (a big ass IT servicing company) recently went to Japan to recruit Malaysian and Asean students to work for us. Nowadays we lost a lot to India, but we are growing in IT support for Japanese market. Reason being indians cant speak japanese, whilist the philipines (our closest competitor) have weird accent that made japanese did not understand eventhough they spoke the language.

To answer ur question, yes the market is over saturated but IT fresh grads still got pay above average. Wanna really score job even before you are grad? Learn japanese.