The Trans-Pacific Partnership, tentatively brokered late Monday, will become a cornerstone of Tokyo's trade strategy as it tries to expand the scope of free trade zones globally.

Experts said it will strengthen Tokyo's hand and could boost a range of sectors, such as auto exports.

Although a latecomer to the talks, Japan ended up playing a critical role in closing the 12-party deal, they said.

Some experts pointed to the fact that the latest round of trade negotiations within the World Trade Organization have stalled for years. Yorizumi Watanabe, professor of international political economy at Keio University said TPP could "facilitate the momentum of multinational trade negotiations."

Japan is eyeing participation in various free trade talks, including the China-Japan-South Korea Free Trade Agreement, the 16-member Asian Regional Comprehensive Economic Partnership (RCEP), as well as the Japan-EU Economic Partner Agreement.

It can now push those other deals using TPP as a driving force, said Watanabe, who was chief negotiator during the Japan-Mexico free trade negotiation.

Kenji Yumoto, vice chairman of the Japan Research Institute, said the nation will be dealing with more free trade initiatives, especially in Asia, that include China.

"The fact that Japan participated in drafting the rules for the TPP would put (it) in a position where it can take leadership" in making rules for other trade deals, Yumoto said.

TPP consists of 12 countries — Japan, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam. It touches on 21 fields such as investment, intellectual property and government procurement, in addition to the more widely known lower tariffs on basic trade.

The first round of TPP negotiation began in 2010. Japan officially joined in 2013 after heated domestic political wrangling.

At that time, there was concern that Japan's tardy arrival at talks might handicap its ability to steer negotiations, but pundits now feel the nation played a central role.

TPP nations had appeared to be aiming for an agreement characterized by completely free trade with no exceptions on tariffs, but once Japan joined it became clear that was not the case, Watanabe said.

Prime Minister Shinzo Abe had ruled out joining unless exceptions were granted to protect its vulnerable agricultural sector.

Watanabe also pointed out that the protection period for new drug patents, over which the U.S. and Australia battled until the last minute, wound up being the eight-year period proposed by Japan.

While the TPP's effect on tariffs are often played up in the media, Yumoto said other fields, such as services, investment and government procurement, are similarly crucial.

Emerging countries in Asia have strict regulations in such areas, making it harder for Japanese firms to enter their markets.

"Having such countries, Vietnam and Malaysia, in the case of TPP, ease the regulations on foreign investment will bring huge merits," Yumoto said.

Meanwhile, with regard to exports, Yumoto said the auto industry stands to be a big beneficiary, as the 2.5 percent tariff on 80 percent of auto parts from Japan to the U.S. will be removed.

Because tariffs on other products are generally low in many countries, the merits are less noticeable for other industries, he added.

On the topic of imports, "there are both pluses and minuses," he said.

Agricultural producers will face tough competition when cheaper products come to the domestic market, so the government is likely to come up with economic measures to offset the impact.

Watanabe said while attention tends to rest on the potential costs for agricultural producers, TPP could offer an opportunity for farmers to strengthen exports.

In the meantime, Yumoto said, consumers will benefit from cheaper imported food such as dairy products.