The coast guard mobilized a rescue ship and airplane after receiving a distress signal at 1:01 a.m. from the Panamanian-registered cargo boat, Pendora, carrying 16 crew and more than 2,000 logs.
"The airplane found the ship belly up some 140 kilometers (87 miles) off Nita Daito island," on Japans southernmost prefecture Okinawa, said Masayoshi Iramina, a spokesman for the local coast guard.
An iron-ore cargo ship cruising nearby rescued 12 Filipinos drifting on a lifeboat.
"We are still looking for the remaining crew two South Koreans," Iramina said, adding that two boats and two airplanes were now involved in the search. The bodies of two Filipinos were later recovered.
Foreign Affairs Secretary Blas Ople identified the 12 rescued seamen as: Sabas Bantawig, Exequilito Padon, Jerome Nofre, Silvestre Retorta Jr., Benedicto Garbo, Paulino Imalunjao Jr., Roni Riconalla, Peter Alexis Indapan, Ruben Batiancila, Gerry Maglinao, Jay Singculan, and Manuelito Caramba.
The seamen are now in custody of Japanese authorities. Philippine embassy and labor officials in Okinawa are now extending assistance to the rescued workers.
Reports reaching the office of the Department of Labor and Employment (DOLE) said that the two missing Filipinos were identified as 2nd mate Rogelio Norfe and James Sampayan. With AFP