The Yomiuri Giants announced on December 1 that they received a positive reply from Shun Yamaguchi. General Manager Tatsuyoshi Tsutsumi told reporters Yamaguchi called him and said he wanted to join the team. The Giants are planning to hold a press conference on December 5.
The Yokohama Bay Stars met Yamaguchi one last time on November 29. Yokohama did not did not make any changes to their base offer (reportedly three years and 500 million yen), but were willing to improve other portions of their proposal, like the incentives. The organization made an announcement on the same day that he was going to move on to another team.
The Chunichi Dragons also made a run for Yamaguchi with an offer that was apparently about the same as the Yomiuri Giants.
The Bay Stars are currently thinking about taking a player and money as compensation for losing Yamaguchi to free agency. They either want a player with future potential or a player that can contribute right away.
[UPDATE 12/3 @ 11:56am]
Yamaguchi is slated to get the uniform number 42. He was also offered the numbers 11, 33, and 99, but he selected 42 because it reminds him of the MLB (Jackie Robinson).
Source: Sponichi 12/3/2016
[UPDATE 12/5 @ 10:00pm]
The Giants held a press conference for Yamaguchi on December 5. They also introduced Masahiko Morifuku.
Yamaguchi most likely agreed to a three-year contract worth an estimated 700 million yen.
[UPDATE 12/13 @ 5:03pm]
The Bay Stars received the Giants’ list of protected players on December 12.
Source: Tokyo Sports 12/13/2016
[UPDATE 12/13 @ 8:18pm]
Yokohama is looking for either a pitcher or infielder.
Source: Sponichi 12/13/2016
[UPDATE 12/22 @ 10:13pm]
Yokohama General Manager Shigeru Takada told reporters today that they are planning to select a player as part of their compensation package. They will inform the Giants after they finalize their decision during a meeting on January 4.
Yokohama will also be entitled to forty percent of Yamaguchi’s 2016 salary (32 million yen).
[UPDATE 12/23 @ 9:35pm]
The Bay Stars might have their eye on a pitcher, since they already have enough infielders.