What is your age bracket and (I assume) your friend's? How close are you to your friend? What kind of mix of guests would you expect at the wedding (i. e., apart from families, of course, is it going to be mostly friends or mostly colleagues/boss from the couple's offices, etc.) ...those would considerably affect the style as well.
When I was in my mid-twenties (well, that's some time ago, I admit), I did go to a friend's wedding in a formal-looking skirt suit (something that can also be used for business occasions) with a somewhat fancy (lacy and shiny I recall) blouse, of course with heels.
I browse around on the internet for Japanese wedding banquet photos, and this seems to be OK for those in their twenties/thirties at least: A dress (not white) below/around knee-length, with a shawl around your shoulders or a jacket, with heels (traditionally no open-toes). No hat and no gloves I'd say - those would be over the top, I feel.
In this page by a dress shop writing about manners/what to wear to wedding banquet, apparently intended for young people, for examle:
http://www.rapty.com/party/manner/fashion/The photo to the left (with the beige dress, black sash belt and short jacket over the shoulders) is an example of "afternoon dress" for daytime wedding banquet - dressy one-piece dress (with not excessive skin exposed) or suit. If you have no-sleeve dress/top, wear a jacket or a shawl to cover your shoulders. Tone down the accessories.
The photo to the right (with the blue dress) is an example of evening dress for evening wedding banquet - evening dress or cocktail dress would be OK, with fancy accessories. If you have a black dress, use one with lace or shiny material, or combine with gold-color accessories to add some colors.