The Yomiuri Shimbun reports that Japan will soon finalize the process of nationalizing the disputed Senkaku islands, which the Chinese call the Diaoyu islands.

The Japanese government plans to hold a ministerial meeting next Monday to officially determine measures to nationalize the Senkakus.

After the decision is made, the Japanese government is expected to sign a contract with the private owner of the islands residing in the Saitama Prefecture.

The Japanese government has spent over two billion yen of this year’s budget as initial payment to purchase the islands, and after the nationalization process is over, the Senkaku islands will be managed by Japan’s Ministry of Land, Infrastructure, Transport and Tourism.