According to Nikkan Sports, the Chiba Lotte Marines and thirty-year-old Hideaki Wakui have reached an agreement on a multi-year contract extension. He is expected to meet Lotte on January 25 to finalize negotiations and sign a formal agreement.
Wakui finished off a three-year contract last year. He is slated to earn an international free agent option some time this season.
Source: Nikkan Sports 1/24/2017
[UPDATE 1/25 @ 8:53pm]
Wakui met with Lotte officials at Zozo Marine earlier today for salary negotiations. His salary this year will be an estimated 250 million yen, up thirty million from last year. There was no mention of contract length.
Source: Daily Sports 1/25/2017
[UPDATE 1/26 @ 4:05pm]
Wakui may have either signed a one-year deal or a multi-year deal. Three years is a possibility, with some sort of an opt-out clause if he wants to exercise the international free agent option he is scheduled to earn this season.
[UPDATE 1/27 @ 11:13pm]
Wakui apparently did not talk about the MLB during contract negotiations with Lotte. He also apparently asked for a multi-year contract. He may have agreed to a two-year contract with a player option for a third year.
Source: ZakZak 1/27/2017