Meanwhile, the Wall Street Journal reported that Toshiba chairman Shigenori Shiga would resign from his post effective Wednesday, while the former chief executive of Toshiba's U.S. nuclear-plant business Westinghouse Electric, Danny Roderick, was stripped of his executive post, the Journal said.
In other Japanese corporate activity, internet and telecom giant SoftBank announced a $3.3 billion cash acquisition of asset manager Fortress Investment Group. SoftBank shares climbed 1.58 percent to 8,670 yen.
Japanese banks and financial companies finished higher, with Mitsubishi UFJ up 1.71 percent, SMFG up 1.37 percent and Mizuho Financial gaining 1.15 percent.
The Nikkei Stock Average climbed 199 points, or 1.03 percent, to finish at 19,437.98, while the Topix added 14.57 points, or 0.95 percent, to 1,553.69. Across the Korean Strait, the Kospi finished up 9.29 points, or 0.45 percent, at 2,083.86.
In Hong Kong, the Hang Seng index added 1.29 percent in late-afternoon trade, while Chinese mainland shares slipped slightly by market close. The Shanghai composite fell 5.20 points, or 0.16 percent, to 3,212.71, while the Shenzhen composite shed 17.28 points, or 0.88 percent, to 1,947.04.
Australia's benchmark ASX 200 climbed 53.83 points, or 0.94 percent, to 5,809.07, as most sectors finished higher. The heavily-weighted financial sector was up 1.70 percent, with major banks gaining more than 1 percent each.
Shares of ANZ gained 1.28 percent, Commonwealth Bank of Australia rose 2.30 percent, Westpac added 1.77 percent and National Australia Bank climbed 2.43 percent.
Major miner BHP Billiton gained 1.26 percent.
Reuters reported that striking workers at Chile's massive Escondida copper mine and BHP, which operates the mine, have agreed to renew talks on Wednesday. The mine produced over 1 million tonnes of copper, about 5 percent of the world's total in 2016, according to Reuters. Copper prices rose 0.58 percent to $6,056 a tonne on Wednesday morning, after falling to $6,021 in the previous session.