This article examines the paradoxical teacher shortage in Japan 50 years after the enactment of the 1974 Securing Educational Personnel Act, which aimed to attract talented individuals to the teaching profession. It analyses how teacher education policies, administrative reforms, and fiscal measures have contributed to the current situation. The study traces the evolution of post-war teacher training principles, the recommendations of the 1971 Central Council for Education report, and subsequent policy implementations. Through a critical lens, it explores how neoliberal reforms since the 1990s, including deregulation, decentralisation, and market-oriented approaches, have impacted teacher supply, working conditions, and the profession's attractiveness. The paper argues that while quantitative teacher shortages may not exist, qualitative issues stemming from increased temporary appointments, excessive workloads, and diminished job security have created a perceived shortage. It concludes by discussing potential strategies to revitalise the teaching profession and ensure a sustainable supply of qualified educators in Japan's changing socioeconomic landscape.