The deal with Tohoku Electric Power covers 1.2 million tonnes of coal, according to Dow Jones Newswires.
The contract starts from October and ends in September 2011, a similar deal to the $97.75/t contract Xstrata struck with Tokyo Electric Power about a week ago.
Indexed Newcastle thermal spot prices are just short of $95/t as of Monday.
Traditionally coal contracts were settled on an annual basis in alignment with the Japanese financial year, but over the past few months the delivery timeframes have varied following the industry acceptance of quarterly contracts.
