Nuclear latency is the condition of a country possessing the technology to quickly build nuclear weapons, without having actually yet done so. Because such latent capability is not proscribed by the Nuclear Non-Proliferation Treaty, this is sometimes called the "Japan Option" (as a work-around to the treaty), as Japan is a clear case of a country with complete technical prowess to develop a nuclear weapon quickly, or as it is sometimes called "being one screwdriver's turn" from the bomb, as Japan is considered to have the materials, expertise and technical capacity to make a nuclear bomb at will.
Nuclear-latent powers
Along with Japan, Canada, Germany, Australia and to a lesser extent the Netherlands are also noted as "nuclear capable powers".
References
Nuclear latency Wikipedia(Text) CC BY-SA