Regional security, trade and economic opportunities will be the focus of discussions when Prime Minister Malcolm Turnbull hosts meetings with his Japanese counterpart Shinzo Abe over the weekend.
Mr Abe and his wife Akie are due to land in Sydney on Friday evening for a short visit to Australia as part of a six-day diplomatic tour which takes in the Philippines, Indonesia and Vietnam.
They will be accompanied by a delegation of Japanese business leaders from banks, resources firms and education institutions.
"We have a very important agenda to discuss - trade, regional security, global economic developments," Mr Turnbull told reporters on Friday afternoon.
"Japan and Australia are great friends. We have a great collaboration."
During bilateral meetings scheduled on Saturday, it is expected they will discuss the implications of a Donald Trump US presidency on the Asia-Pacific and the controversial Trans-Pacific Partnership trade deal, the nuclear threat from North Korea and South China Sea tensions.
The two countries are also due to sign a revised acquisition and cross-servicing deal, under which the Australian defence force will be able to supply ammunition to the Japanese military for the first time.
Mr Abe last visited Australia in July 2014 and this trip comes after Japan lost out to a French ship builder for the contract to construct Australia's new fleet of submarines.
"Shinzo Abe himself is a great friend of Australia, and Lucy and I look forward to welcoming him and Mrs Abe to Australia tomorrow," Mr Turnbull said.
Mr Abe and his wife are due to depart on Sunday.
