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So why is a book on Japanese management techniques still so relevant?
First of all, continuous improvement and lean manufacturing have become universal management tools, not strictly limited to one country. This book presents as good an introduction to the subject as any. With today's focus on execution, this topic are becoming even more current. (Dare I say topical?)
Additionally, understanding continuous improvement is still important in the context of broader corporate change. What are the strength and limitations of incremental changes versus more radical corporate moves? Read the book and learn more.
This book certainly won't turn a mediocre manager into a great leader, but Kaizen is a useful addition to the toolbox of any manager.
To be concrete, this book is definately recommended. You'll never understand it all by just reading one book (or by just reading, period). It will give you a quantum leap in your understanding and all concepts will be there. Only action and involvement can do more.