Hi,
As for Hitotsubashi, they are really strong in Economics.
I was accepted to their dept in 2001, although I did not proceed with it due to personal reasons. (along with Aoyama and Toyama in Engineering)
To answer to your question: It depends!
1/ Do you want to work in Japan or abroad?
2/ Private firms or public firms?
Hitotsubashi in my opinion is very good but weaker than Waseda in international relations / network. So, If you're thinking of working abroad, Waseda would be better! (Hitotsubashi is not that known abroad, but Waseda is known for almost every department)
Moreover, if you were to look at the top schools in Japan the following is the general consensus:
National Universities: Tokyo, Kyoto, Osaka, and Nagoya
Private Universities: Keio, Waseda, ICU, and Doshisha
(ICU = International Christian University, as previously mentioned)
Of course, there are plently of other good schools, but Japanese are VERY concerned about the rakings!
In addition, if you are thinking of working in Japan, Hitotsubashi is good enough!! It is well known as one of the elite schools, especially in business, economics and law. And generally speaking National Universities are considered to be harder to be admitted to in Japan...as Private schools accept more applicants and cost more...
I hope my unstructured opinion may be of some help,
Zz