11:09pm: Patrick Newman tells us Japanese reports indicate this is a done deal at about $6MM over three years. Iguchi had solid years in three of his four MLB seasons, banking $11.8MM and snagging a World Series ring (two if his month with the Phillies this year counts).
7:47am: According to Kyodo News, second baseman Tadahito Iguchi is set to join the Chiba Lotte Marines in Japan. A few weeks ago they reportedly offered three years and over $6MM.
In other Japanese baseball news, Kyodo reports that lefty Koji Mitsui will stay with the Seibu Lions after he was posted twice and no MLB team made a bid.