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Edit: paragraph removed after rechecking data.
Did both sides do what they could to make the most out of the Battle of the Atlantic in the court of public opinion? Of course.
However, Britain was also under severe rationing due to U-boat sinkings. Tens of thousands of merchant ship crewmen died. The U-boat force lost the Battle of the Atlantic, but it was a battle.
Wanting it to be otherwise does not make it so.
There was fighting going on no doubt about that and that both sides did their best to win. But for there to be an actuall 'Battle' both sides must have a chance of winning it, otherwise the fighting does not become a battle but a slaughter. The Germans due to the convoy system never had any chance at all of starving the British Isles to submition.
And indeed there was rationing in the Great Britain I do not dispute that. Mostly the rationing was actually caused by the convoy system itself, and indeed British imports dropped by a third after it's implementation. It is because the convoy system in itself was (and proabaly still is) inefficent. Ships have to sail at the the same pace as the slowest ship in the convoy instead of at their best speed.
However I can conceed that centimetric-radar, more planes with longer range becoming available to Coastal Command, more escorts with greater experience, more and better ASW equipment and breaking the Enigma code did one thing, it killed U-boats. What the convoy system did was win the 'Batle of the Atlantic' or perhaps a more accurate way to express it would be that it made sure that Great Britain couldn't lose it and that Germany couldn't win it.
If you haven't read Blair's two books about Hitlers U-boat war I suggest you do so, they are very enlightning and kills of a bunch of myths about the U-boat war.
So IMHO if Japan had implemented the Convoy system, it would have made sure that the US subs would have sunk a lot less merchants. Did they have enough escorts for a complete and adequate protection of said convoys? Doubtfull, but neither did Great Britian in September -39