The Japanese have indicated no solid plans to outfit F-35s to the Hyuga or other baby flattops. Other than the political dimension, the fact is that these ships remain very small to support anything more than a handful of F-35Bs. Besides I think they would need to modify the ships with a ski-jump for optimal performance.
Determining equivalency between current and WW II types is more than a little slippery. In terms of displacement, Hyuga compares with IJNS Hiryu and Soryu and the bantamweight US carrier, USS Wasp, which displaced about 15,000 tons, and the US "fast" cruiser-hulled and -engined CVL's like USS Casablanca (whose assistant nav officer, at commissioning, was a young officer named Gerald R. Ford).
But those carriers all carried 40-50 aircraft each, or a short wing per carrier, with full air wings embarked in the big carriers.
In terms of numbers of aircraft embarked, these smaller carriers and LHA's recall the slow, pokey, merchant-hulled and -engined CVE "jeep" carriers like the "Taffy" carriers jumped by Adm. Kurita off Samar, and the escort carriers that protected late-war convoys from German U-boat wolfpacks.