The Nikkei 225 index is up 2.6 percent and the broader Topix 2.1 percent.
However, it is not only in Japan that the stock markets are in a cheerful mood, the positive figures are widely spread throughout Asia.
South Korea's Kospi is up a whopping 3.2 percent and Hong Kong's Hang Seng is also rising, albeit slightly lower, by 0.1 percent.
In China, Shanghai follows the pattern and is up 0.4 percent, while Shenzhen is down 0.1 percent.
