Pros
Flexible schedule (but not really because you will always work weekends to be able to earn a salary. You'll miss all events. The way the scheduling system work means you'll have to know about an event two months in advance if you want to have that day free. But since you don't make that much money on other days, you won't take weekends off regardless, because the stress of your low check will keep you in the office. Easy way to get a visa.
Cons
Too many to count. After the company changed ownership, we've seen the most ridiculous changes. As of last week, we cannot access any websites on the computers, which makes communication with clients even more difficult. We can't even access news or dictionary websites. 0 Benefits. Absolutely nothing. Any other Japanese company would offer employees bonuses, travel expenses coverage, days off, sick days, you will get none of that. Because you are not an employee. They slap the title of freelancer on you and get away with not providing you any benefits.