Among business-to-business deals reached, gas giant Gazprom signed agreements on strategic cooperation with trading houses Mitsui & Co and Mitsubishi Corp, Reuters wrote.
Further, Russia and Japan will create a $1 billion fund for equity investments in bilateral projects such as pharmaceuticals and energy, the head of a Russian state fund said.
MarketWatch in turn reported that the Russian Direct Investment Fund and Japan Bank for International Cooperation will each invest $500 million in the fund, RDIF Chief Executive Kirill Dmitriev told The Wall Street Journal in an interview.
The plan is set to be announced Friday as part of a series of economic deals confirmed on the sidelines of summit talks between Russian President Vladimir Putin and Japanese Prime Minister Shinzo Abe in Japan.
Read alsoBloomberg: The Pessimist's Guide to 2017The two nations are building economic ties as they seek to eventually sign a peace treaty to formally end hostilities from World War II. At the end of the war, the Soviet Union occupied four Japanese-administered islands that Tokyo wants back.
