Japan's Ministry of Economy, Trade and Industry released its preliminary industrial production data on late Wednesday evening. Preliminary industrial production in Japan climbed 3.6% in March, exceeding expectations for a 2.9% rise, after a 5.2% drop in February.

The increase was mainly driven by rises in production, shipments, inventories and inventory ratio.

According to a survey by the ministry, industrial production is expected to increase 2.6% in April, and to decline 2.3% in May.

On a yearly basis, Japan's industrial production was up 0.1% in March, after a 1.2% decrease in February.