After falling to India 3-0 in their final round robin game, the Kiwis were knocked out of contention for the final, which was taken out by Belgium who beat India 2-1.
Facing Japan in the battle for bronze, the Black Sticks would have fancied their chances having already toppled the Asian nation 4-1 in pool play.
And as the game began, it looked as though the match was headed in the same direction with Marcus Child bagging an early double to have the Kiwi side up 2-0 at half time.
But Japan showed they had come to play in the second half, and got one goal back through Shota Yamada who tucked away a penalty corner.
Dominic Newman soon pushed the Black Sticks' lead back to two goals, with Child turning provider, and the match again looked comfortable for the hosts.
However, Japan erupted for three straight goals through Hirotaka Zendana, Tsubasa Yamamizu and Koji Yamasaki to take a 4-3 lead with just 11 minutes to play.
As the clock ticked over, the Black Sticks needed to do something to get themselves back into the contest.
With five minutes remaining, goalkeeper Richard Joyce was pulled from the match to allow the Black Sticks an extra field player.
It worked, as within a minute, the Black Sticks were level through Kane Russell and Joyce was brought back on the field.
The Kiwi side scored the match-winner about a minute later when Hugo Inglis scored a well-taken goal to lead the Black Sticks to the bronze medal.
The teams now move on to Hamilton, where they will play a second Four Nations tournament, which begins on Wednesday.
