[3] However, due to the declining price of oil in early 2015, as well as internal political shifting in Japan, the two nations have sought to seek increased scientific, economic and cultural ties, particularly in the sphere of high-technology start-ups and defense contracting.

Japan has enjoyed an increased access to Israel's high tech sector, securing benefits, Israeli human capital and talent for Japanese private commercial ventures as well as public venturies.

[2] In 1922, Norihiro Yasue and Koreshige Inuzuka, head of the Imperial Japanese Navy's Advisory Bureau on Jewish Affairs, returned from their military service in Siberia to provide aid to the White movement against the Red Army.

The Imperial government wanted to gain Jewish economic prowess while convincing the United States, specifically American Jewry, to grant their favor and invest in Japan.

Their misconception of Jewish power and wealth was partly due to their experience with Jacob Schiff, a Jewish-American banker who, thirty years earlier, loaned money to the Japanese government that allowed it to win the Russo-Japanese War.

The faction was headed by Colonel Seishirō Itagaki and Lieutenant-Colonel Kanji Ishiwara, who were having trouble attracting Japanese settlers or investment into Manchuria.

After the grueling process of requesting exit visas from the Soviet government, many Jews were allowed to cross Russia on the Trans-Siberian Railway, then took a boat from Vladivostok to Tsuruga, and eventually settled in Kobe, Japan.

Several thousand Jews were rescued from almost certain death in Nazi-Occupied Europe by the policies surrounding Japan's temporary pro-Jewish attitude, and Chiune Sugihara was bestowed the honor of the Righteous Among the Nations by the Government of Israel in 1985.

In 1993 both nations signed the "Convention between Japan and the State of Israel for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income.

Katori previously served as minister to South Korea and director-general of the Consular Affairs Bureau before assuming the current post in August 2005.

[11] Shimon Peres gave this idea much attention during his participation in an international conference in New York in September 2006 which was organized by former U.S. President Bill Clinton.

[12] In July 2008, the Japanese government reiterated its support for the plan in meetings with Israelis and Palestinians, and urged the sides to continue working towards completion.

This rapid warming of relations is evidenced by the two countries entering into a number of important political and economic agreements – from a series of high-level dialogues on national security and cybersecurity to their first bilateral investment agreement – transforming their once limited bilateral relationship into one more characteristic of allied partners, a process that has been described as "rising sun relations" in Foreign Affairs magazine.

[8] In 2024, Israel were not invited to Nagasaki's annual peace ceremony by the city's mayor Shiro Suzuki over "security risks and potential disruption".

[20] Israeli exports to Japan, consisting primarily of polished diamonds, chemical products, machinery, electrical equipment, and citrus fruit are worth $810 million.

Japanese exports to Israel, consisting primarily of motor vehicles, machinery, electrical equipment, and chemical products are collectively worth $1.3 billion.

[1] Since the 2010s, trade between Israel and Japan have expanded considerably with economic relations between the two countries having increased significantly, particularly in the realm of high-technology, as well as the forging of partnerships between start-up companies and venture capitalists among the two nations.

In May 2012, a symposium to commemorate the sixtieth anniversary of the diplomatic relations was held at the Hebrew University of Jerusalem, to discuss issues of regional, bilateral, and cultural exchanges.