I'm not sure it would be correct to use the word "xenophobia" here; but for those of us old enough to remember the 80's, what redcap says is very spot-on. There was a LOT of buzz in the 80's about how Japan (and Asian countries in general, to some extent) were kicking the US's arse in a lot of areas: computers, consumer electronics, cars, etc., etc. Talk about "competing with Japan" was used a motivational material to encourage students ("study hard or you won't have a job when you graduate, because you're competing against the Japanese"), and to justify various research programs, government initiatives, etc.
So yeah... I don't necessarily agree that Cyberpunk as a genre is really focused on anti-asian xenophobia of any sort, but I don't think it's a stretch to say that that "80's zeitgeist" thing did influence Cyberpunk.
Just look at Back to the Future 2 (the one where they go into the future and have flying cars and no mobile phones). The older version of main character (Marty McFly) has a japanese boss, and when talking to him on the videophone he drops japanese into the convesation (opens with japanese IIRC).