Why has Japan been pursuing regional trade strategies centered on the Free Trade Agreement/Trans Pacific Partnership (FTA/TPP) instead of relying solely on bilateral FTAs? What are the factors that promote or hinder Japanese participation in the TPP? How will the likely development of the TPP change the contours of regional cooperation in the near future? This paper explores the complex nature behind the Japanese stance on its shifts in trade policy with regard to FTAs and TPP. Furthermore, it attempts to provide suggestions on the Japanese government's future trade policy, especially with respect to Japan's role in East Asia.