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| 1994, Jan |
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| The Japanese Diet rejected a plan proposed by Prime Minister Hosokawa Morihiro to limit political corruption and corporate campaign funding; the failure disappointed the Japanese public as well as foreign governments. On Jan. 29 the Diet agreed to a compromise package. | 1 |
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| Feb. 11 |
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| Trade talks between Japan and the U.S. collapsed because Japan refused to open its markets to help even out a huge trade imbalance; Hosokawa and Clinton both faced domestic pressures not to compromise. | 2 |
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| April 8 |
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| Prime Minister Hosokawa resigned because of charges of financial impropriety. | 3 |
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| April 25 |
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| Japan named its new prime minister, Hata Tsutomu. On June 29 Hata quit in order to avoid a no-confidence vote; he was replaced by Murayama Tomiichi of the Social Democratic Party. On July 30 Murayama named his cabinet. Japan came to an agreement with the U.S. (Oct. 1) to open Japanese markets in insurance, glass, telecommunications, and medical equipment to foreign competition. | 4 |
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| Dec |
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 e Kenzabur received the Nobel Prize for literature. | 5 |
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