The Star Tribune's La Velle E. Neal III reports that the Minnnesota Twins "...exchanged several contract offers at various lengths on Monday. Indications are that a three-year deal is on the table for anywhere from $3-5 million a year."
Sponichi adds that Tsuyoshi Nishioka is apparently looking for a short multi-year deal (between 2-4 years) so that he can hit the FA market as soon as possible. The paper also notes that $3M (249M yen) a year is probably more than enough to land Nishioka since it's an upgrade over the 170M yen he made this season (and even more so because Nishioka said his desire to play in the US was never about money).
Sanspo notes that the Twins expect a deal to be in place by around the 20th.
Incidentally, the headline for the Sanspo article is "Nishioka 3 year, 900M yen! Twins signing imminent" while the Sponichi headline reads "Twins, Nishioka: negotations begin at a base of 3 years, 800M yen."