NEW : Noda says recent tensions with South Korea are `` regrettable '' but not a reason to change the status quo in Japan.'' The islands are privately owned by a Japanese family . The Japanese government is in the final stages of negotiations to bring a hotly disputed set of small islands in the East China Sea under public ownership , Prime Minister Yoshihiko Noda said Friday , stressing his country 's claims of sovereignty . The Japanese premier says the government is close to a deal to buy them .
NEW : Noda says recent tensions with South Korea are `` regrettable '' but not a reason to change the status quo in Japan.'' The islands are privately owned by a Japanese family . The Japanese premier says the government is close to a deal to buy them .