There are dedicated shield-bearer units, but these shield bearers are more like big screens about your size, and were mostly used to deflect arrows in siege situations.
Best argument I've personally heard is a combination of lack of resources and practicality in hindsight - even Japanese historians agree with the latter sentiment while taking into context. Practicality boils down to because they've never really had to fight anyone where a shield would be necessary or useful. Blindly adhering to Confucian ideals lead to a huge backlash against anything remotely close to Chinese lead to ... some sort of really strict honor code which made shields look bad if you used one. Ergo, no one bothered with it. Combat, at best, were ritualized, and at worst something of a farce. Battles were on small scales and fights consisted of duels between two guys with two-handed swords and (later on in the Sengoku era) it was basically a pushing match between the yari-wielding ashigaru and less of an actual poke-fest. As such, shields never became a necessity - and for that matter, neither were armor to a great extent. Prior to the Sengoku era, bows were in low numbers and had high maintenance costs with very low penetration and effective range.
Ancient Japan was comparatively tiny and have very little resources to use. No access to coal and higher temperature ovens inevitably means that you had to make do with other things. The metal used to make shields like the bronze ones you find in say, Hoplites or Qin China's legions could be used to make killy things. No access to large quantity of trees (lumber IS a rare commodity despite what you may think) means wooden shields are out of question as well when there are other things you could make. And the ban on consumption of meat meant that leather wasn't really avaliable either - armor was rare enough. How are you gonna get enough leather to supply an army with shields?
Remember. Japan had no substantial numbers of horse or horse archers, which was basically a counter to heavy infantry. Japanese bows had poorer range and penetration in comparison to their time-appropriate counterparts, and they were still in much, much lower numbers when it comes to everything from production to equipment. Crossbows were never popular (because you couldn't make 'em!), and thus, missile-based combat (the norm in many other comparative countries) never developed fully. Height was also an issue, as the shorter you were, the less useful a shield would become due to weight and positioning. Scale of battles were also small to the point where valuing offense was (usually) far better than valuing defense.
I'm not going to start on metalworking and katanas either. Don't want to offend anyone with the truth.
