OK, I stand corrected. Just did a small search and apparently Nissan did have vvt technology...it was produced mainstream in their VG series of engines for the 300ZX back in 1986. The RBs from 1993 onward had vvt technology.
The excerpt below is to show the Japanese on a hold were behind on this new tech.
Alfa Romeo was the first manufacturer to use a variable valve timing system in production cars (US Patent 4,231,330). The 1980 Alfa Romeo Spider 2.0 L had a mechanical VVT system in SPICA fuel injected cars sold in the USA. Later this was also used in the 1983 Alfetta 2.0 Quadrifoglio Oro models as well as other cars.
Honda's REV motorcycle engine employed on the Japanese market-only Honda CBR400F in 1983 provided a technology base for VTEC.
In 1986, Nissan developed their own form of VVT with the VG30DE(TT) engine for their Mid-4 Concept. Nissan chose to focus their NVCS (Nissan Valve-Timing Control System) mainly at low and medium speed torque production because the vast majority of the time, engine RPMs will not be at extremely high speeds. The NVCS system can produce both a smooth idle, and high amounts of low and medium speed torque. Although it can help a little at the top-end also, the main focus of the system is low and medium range torque production. The VG30DE engine was first used in the 300ZX (Z31) 300ZR model in 1987, this was the first production car to use electronically controlled VVT technology.
The next step was taken in 1989 by Honda with the VTEC system. Honda had started production of a system that gives an engine the ability to operate on two completely different cam profiles, eliminating a major compromise in engine design. One profile designed to operate the valves at low engine speeds provides good road manners, low fuel consumption and low emissions output. The second is a high lift, long duration profile and comes into operation at high engine speeds to provide an increase in power output. The VTEC system was also further developed to provide other functions in engines designed primarily for low fuel consumption. The first VTEC engine Honda produced was the B16A which was installed in the Integra, CRX, and Civic hatchback available in Japan and Europe. In 1991 the Acura/Honda NSX powered by the C30A became the first VTEC equipped vehicle available in the US. VTEC can be considered the first "cam switching" system and is also one of only a few currently in production.
http://en.wikipedia.org/wiki/Variable_Valve_Timing
Honda wasn't the first to produce vvt tech mainstream nor was it the first successful application. It was pioneering I admit with its performance at high revs but that's it...its other primary function was to reduce gas consumption at "normal" use. V-TEC wasn't the best, it simply is a tech that has been refined over the years (since 1989) and highly publicised/marketed to become one of Honda's biggest campaign to prove their performance from their small albeit "powerful" engines.
V-Tec does pack a punch at high revs but my God, where is the torque at the lower rpms? Remember vvt isn't about high revs but its effect/power delivery can be tuned specifically to deliver torque at lower rpms (drive a 300ZX and you'll see she can damage your spine even at 4000rpm if tuned right).
In the end, vvt is a wonderful tech and Honda must be given props for its R&D in this effeciency aimed tech but does it make V-Tec the best thing since sliced bread? No.