Japanese games tend to objectify characters of both genders. It's just that female-catering male characters are sometimes (but not always) very subtle. Even the most blatant offenders can be subtle compared to their female counterparts.
I present to you THE most blatant example I can think of:
Hisame Shizumaru from the Samurai Spirits series. A shota-flavored pretty boy, polite and kind, BUT suffering from amnesia as well as some kind of rampaging evil persona (fangirls love pretty boys with psychological baggage). His ideal type is described as "an older sister who could take care of him" (i.e. the age group of females to which he's designed to appeal). One of his taking-hit-screams is this incredibly moany, uke-tastic "yamete." Seriously, the first time I heard him say it, I lol'd so hard. But if you just look at his character design, nothing really screams HI I EXIST TO PANDER TO FANGIRLS. Compare to Iroha, a female character from the same series.
I think part of the reason for this subtlety is that skin-tight garments and/or excessive skin baring of male characters don't really appeal to the majority of females. I know that's certainly true for myself. Think of the male characters with the biggest female followings -- Link, Sephiroth, etc. None of them walks around in a skin-tight body suit or a thong speedo.
Raiden from MGS series is an interesting case. He wears a tight body suit, and he does have a decent (not huge) sized female following, but his character design was produced/directed by a bisexual male. The following scantily clad males were also designed by a bisexual male artist:
note them exposed cheeks
dude needs new pants
EDIT: I'm not claiming Shizumaru is less objectified than Iroha. Just saying the objectification is harder to see at first glance.