The government of Japan announced on April 29 the conferment of The Grand Cordon of the Order of the Rising Sun on Honorable Manuel 'Manny' Bamba Villar Jr., former Senate President and former Speaker of the House of Representatives, in recognition of his contributions to strengthening economic bilateral relations between Japan and the Philippines.

During Villar's term as Senate President, the Japan-Philippines Economic Partnership Agreement (JPEPA) and the 'Protocol Amending the Convention Between Japan and the Republic of the Philippines for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Income Taxes' were ratified in October and September 2008.