According to Nikkan Sports, Hisashi Iwakuma has agreed to a deal with the Seattle Mariners. The report also mentions that Iwakuma held a press conference over the telephone (he is currently working out in Tokyo) at around 9am JST. Sponichi adds that he got a one-year deal worth around US$1.5M (around 120M yen). If he maxes out the incentives, the deal could be worth more than the 300M yen he made in 2011.
UPDATE @ 10:45am - A new Nikkan Sports report confirms that the deal was for one year and worth US$1.5M. He also gets the number 18. Iwakuma is also quoted as saying that it was never about the money (the Mariners' offer was apparently the worst out of the other offers he received).