It took place on the weekend of 27–29 March 1992 at the Suzuka Circuit.

Wayne Rainey had to ride with an injured hand from a pre-season test (part of his pinky was removed).

John Kocinski was on pole, and took the lead at the start from Doug Chandler and Mick Doohan.

Chandler took the lead of a 4-man group with Schwantz, Doohan and Kocinski.

Gardner had remounted and gotten to 5th before crashing out for good a second time and breaking his leg in two places.