Japan set to buy disputed isles

Published on 06/09/2012 00:53

Japan has agreed to buy disputed East China Sea islets, claimed by both Tokyo and Beijing, from their private Japanese owners, a move likely to fuel tensions between Asia’s two largest economies.

The uninhabited islands, known as Senkaku in Japan and Diaoyu in China, have long been a source of friction. Japan and China have competing claims to the islets and surrounding fishing areas and potentially rich gas deposits. The government will buy them for 2.05 billion yen (£16.5 million) and the owners will sign a contract soon, the Japanese dailies Asahi and Yomiuri reported.

Tokyo’s nationalist governor, Shintaro Ishihara, originally proposed a plan in April to buy three of the five uninhabited islands.