Yes they did! Japanese propaganda didn't focus nearly as much (at least not as much as the Americans) on as portraying their enemies as subhuman animals. Rather Japanese propaganda focused heavily on talking up the Japanese soldiers' role as a liberator who would free Asia from the clutches of Imperialists. Pamphlets handed out by the Japanese high command talked up the Japanese "warrior spirit" and contrasted them sharply with Western soldiers who were portrayed as "weak and decadent".

That figures heavily into the Japanese caricature of the West. The Western people were thought of as misled puppets, who were corrupt and decadent, who's goal was to oppress the various peoples of Asia. Buzzwords like "Imperialism" and "Liberator" figured heavily into Japanese propaganda.

They did have propaganda that made fun of the Americans appearance (they were said to look like Apes), for example here is a caricature of Roosevelt. Notice the exaggerated hair and mongoloid look. Here is another poster poking fun at Churchill, again with the same features as Roosevelt.

The Japanese also employed propaganda that targeted the minor nations fighting with the Americans. Usually this propaganda depicted the Americans and British as taking advantage of the nations in question and using them to fight an Imperialist war of aggression. It also tried to make the soldiers long for home, which referenced the Japanese belief that the Western nations had no stomach for a fight and that their soldiers would eventually give up fighting the "Morally superior Japanese".

For example here is a post targeting Australia; here is another one.

The ones targeting British Indian troops, were a bit different and tried to emphasize a common brother hood between India and Japan.

Example, another one making reference to the Bengal Famine.

So as you can see the Japanese propaganda focused on portraying their enemies as weak willed, decadent, misled imperialists. Compared with the American posters which focused more on dehumanizing the Japanese.

This site has a collection of posters from various nations.

And this essay on propaganda is really well done.

For a much more uncommon form of Japanese propaganda, watch Momotaro's Divine Sea Warriors. The first full-length Japanese animated movie does the whole "Liberator from White Imperalism" thing, particularly during the battle scenes towards the end.

There is an excellent book on this subject called War Without Mercy, that is a widely used text on the subject.

The Japanese widely tried to portray Europeans and the Americans as exploitative, fat (lazy), and cowardly.

Here's a good illustration that shows the Allies trying to force their subjects to fight for them.

Here's a picture showing American whites exploiting black soldiers. The Japanese strongly tried to focus on the racial treatment and history of the Americans to divide the black service members from their white fellows.

They tried to portray American's as rapists and oversexed.

I distinctly recall one from the book, where it shows a boxing match where white American's are watching Japan fight Chaing Kai-Shek who is being beaten. Churchill and Roosevelt step in to save him and are easily beaten by the Japanese boxer, while the white stare on in shock in horror, while black audience members cheer.

When I get home for lunch, I'll try to get some photos of the illustrations inside the book I listed above.