Japan's Ministry of Economy, Trade and Industry released its preliminary industrial production data on late Thursday evening. Preliminary industrial production in Japan dropped 1.4% in December, after a 0.9% fall in November.

The drop was mainly driven by declines in general-purpose, production and business oriented machinery, electronic parts and devices, and transport equipment.

According to a survey by the ministry, industrial production is expected to rise 7.6% in January, and to decline 4.1% in February.

On a yearly basis, Japan's industrial production was down 1.6% in December, after a 1.7% rise in November.