“The United States occupied the islands from 1945 to 1972. Both China and Japan have expressed sovereignty claims on the island at the United Nations Security Council on 20 May 1972. Ownership of the islands would give either nation exclusive oil, mineral and fishing rights in surrounding waters. The United States has recognized Japan’s sovereignty over the islands in effect by stating that the islands are included within the U.S. Japan Security Treaty. This means that, pursuant to the Security Treaty, any defense of the islands by Japan will be backed up by the full force of the United States military and naval power.”

http://en.wikipedia.org/wiki/Senkaku_Islands_dispute

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