Two recent announcements by major coal suppliers to Asian customers show Japanese utilities are closing deals with major thermal coal suppliers on term prices for annual contracts starting in April, though it is unclear which utilities are involved.

The prices set in early talks between Japanese coal buyers and their suppliers are typically reflected in negotiations that take place subsequently.

Indonesia 's PT Bumi Resources (BUMI.JK) said Tuesday that its unit, PT Kaltim Prima Coal, has secured a 40% price increase for coal it will sell to a large Japanese buyer this fiscal year at $104 a metric ton, free on board. Bumi's spokesman didn't specify the name of the buyer.

This follows an announcement by Anglo-Swiss miner Xstrata PLC (XTA.LN) on April 1, in which the company said it finalized a 12-month supply contract for Australian thermal coal with an unidentified major Japanese utility beginning April 1 at $98 a ton.

Further pricing discussions about coal for Japanese customers will take place this week, Xstrata said.

The Nikkei speculated in Tuesday's morning edition that the Japanese customer in Xstrata's announcement was Chubu Electric Power Co. (9502.TO). Japan 's third-largest power utility--a major thermal coal buyer--declined to comment on either statement or say whether it is currently involved in negotiations.

Other large thermal coal buyers, including Electric Power Development Co. (9513.TO) and Tokyo Electric Power Co. (9501.TO), also declined to comment.

Japan imported 92 million tons of thermal coal in 2009, with about 60% coming from Australia and roughly 20% from Indonesia , according to government statistics.

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