According to a report by Nikkan Sports filed this morning, the Minnesota Twins and Tsuyoshi Nishioka have apparently agreed on a 3-year deal worth around US$10-11M (or 800-880M yen). At this point it seems the only thing the two sides still need to work out are the smaller details like Nishioka's housing situation and tickets to and from Japan.
The reports adds that Nishioka might fly out the US next week (perhaps as early as the 13th) for a physical (which the Star Tribune's La Velle E. Neal III also mentions in a recent update) and that a press conference announcing the deal could be made later in the week.
While Nishioka's performance during spring training will ultimately determine where he'll end up playing during the regular season, it seems the Twins are apparently hoping that he can bat second and start at second.
(NOTE: While I have found a couple of other sources that mention the Twins and Nishioka being close to a deal, I haven't really been able to find any that back this Nikkan Sports article.)