It’s not exactly the 10-year, $275 million contract that Alex Rodriguez signed with the New York Yankees in 2007, but the Yomiuri Giants just made Michihiro Ogasawara Japanese professional baseball’s highest-paid position player.

A photo of Michihiro Ogasawara’s Yomiuri Giants jersey.

The left-handed slugger, who has played both first base and third base, agreed to a new contract with the Giants on Monday. The two-year deal will pay Mr. Ogasawara, who was also the starting first baseman for Japan’s World Baseball Classic team, about 430 million yen ($5.1 million) a year, according to Kyodo News. It ties him with Chunichi Dragons pitcher Hitoki Iwase for the richest deal in Japanese professional baseball.

Mr. Ogasawara, who hit .308 with 34 homeruns and 90 runs batted in last season, would have been hard-pressed to find a better payday in Japan. As part of the powerful media conglomerate, the Tokyo-based Giants are Japan’s richest team and are often called the Yankees of Japan for their deep pockets and long track record of success.

After starting his career with the Nippon Ham Fighters, Mr. Ogasawara joined the Giants in 2007 and instantly became a staple in the middle of their line-up. He has managed to maintain a high batting average with his picturesque lefty stroke with decent power numbers. He is 11 hits away from reaching 2,000 for his career.

The salary differential between the Japanese league and Major League Baseball can be stark. The highest-paid Japanese player in the Major Leagues is none other than Seattle Mariners outfielder Ichiro Suzuki who makes about $18 million a year.

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