I don't think that's it. We use some obvious French words every now and then, but for the most part any magazine front you see will be full of English. You don't see many companies called by their French names in English-speaking nations, either. I think it's just the idea of English as an international language for the most part, but with Japan they do indeed take it to a different level even when there is no need to.

Looking up a random picture of Tokyo, I can see around four signs in the English language. Okay, so maybe some of them are simply international brands that want to be seen by tourists or something... but Square Enix and Final Fantasy are both always displayed in English - as far as I know, anyway. I'm going by their official Japanese websites, which also display other words in English throughout the site. Going to the Japanese Mistwalker site, I am actually greeted by more English words than Japanese words!