Japanese are very reserved people which is one of their finest virtues.
この場合、次のような言い方ができますよ。
ーOne of the virtues of Japanese people is modesty.
「日本人の美徳の1つは遠慮です」
ーJapanese are very reserved people which is one of their finest virtues.
「日本人はとても遠慮をする人たちで、それは彼らの素晴らしい美徳の1つです」
ご参考まで!