Could Japan build both high-end cruisers and capital ships?

Could Japan build these high-end cruisers as well as its capital ships with the infrastructure it had?

Yes: the treaty battleship holiday frees capacity for cruisers, and that work could improve the yards before capital-ship construction resumes.

The Washington settlement prevents new capital-ship construction for much of the period, freeing Japanese yards to focus on the station-cruiser category. Building those ships in the 1920s and 1930s could expand and modernize the country's infrastructure. That work would also give Japan relevant industrial experience before capital-ship construction resumes. The treaty holiday avoids an immediate choice between the two programmes.