This term is used in Japanese lesbian S&M culture to refer to the "dom" in a relationship. The word was formed as a "Japlish" contraction for "a Japanese captain".
The term has been expanded to mean the domineering head of any Japanese-run organization; especially when used to describe an organization peopled by non-Japanese who are subservient to a Japanese boss. Usually expressed sarcastically as a reference to "my Japitan".
The term was purportedly first applied to Akiko Toida an infamous female pervert.
Yes, my Japitan, I will do as you have said immediately.