Field experiments were carried out in 2014 and 2015 to characterize the associated attributes responsible for dry matter accumulation in high-yielding soybean. We attempted to create a high-yielding environment by introducing narrow-row planting at two planting densities, using a new cultivar ‘Hatsusayaka’ and a current leading cultivar ‘Sachiyutaka’ in an upland experimental field. Dry matter accumulation was assessed in terms of light interception and radiation use efficiency (RUE). Growth analysis was performed to evaluate the crop growth rate (CGR) and the contribution of the net assimilation rate (NAR) and mean leaf area index to CGR. Maximum soybean yields of 590 and 658 g m−2 were obtained for Hatsusayaka and Sachiyutaka, respectively, in 2015 at the high planting density, with the corresponding maximum aboveground dry matter equaling 1463 and 1331 g m−2 and maximum LAI equaling 8.5 and 7.6. Although cumulative intercepted solar radiation was lower than in previous studies, early canopy closure at around the beginning of the flowering stage and very high RUE (1.54 and 1.68 g MJ−2 for Hatsusayaka and Sachiyutaka, respectively) contributed to the high dry matter accumulation. In contrast to the high yield in 2015, continuous excess soil moisture in early August 2014 may have inhibited nodule nitrogen fixation and decreased the nitrogen content, resulting in an extremely high specific leaf area and low leaf greenness, which agrees well with the low NAR during the corresponding period.