Following the inflation data on Friday, the Bank of Japan's governor Kuroda has explained that unless energy prices drop sharply, Japan's core Consumer Price Index will likely remain around 2% for about 12 months. 

Just ahead of the Tokyo open, Japan reported its CPI data as follows:

• Headline Tokyo CPI 2.4% YoY, expected 2.5%, prior was 2.5%.
• Tokyo CPI excluding Fresh Food 1.9% y/y, expected 2.0%, prior was 1.9%.
• Tokyo CPI excluding Food, Energy 0.9% y/y, expected 0.9%.

In recent trade, the Japanese PM Kishida also commented and said the recent rise in Japanese prices is driven mostly by the global rise in fuel, and raw material costs. He added that the government will proceed with efforts to help raise wages with responsibility.