The Monbukagakusho (Ministry of Education, Culture, Sports, Science and Technology, Government of Japan: MEXT) offers scholarships to Australian nationals who wish to study at Japanese universities under the Japanese Government (MEXT) Scholarship Program as follows:
Undergraduate Category:
1. Tenable in principle for five years, including one year preliminary study of the Japanese language. There are opportunities for study in the Social Sciences and Humanities and Natural Science. Upon completion of their courses, students will be awarded a Bachelor’s degree.
2. Applicants must be born between 2 April 1989 and 1 April 1994. Applicants must be Australian nationals and must complete Year 12 to matriculation standard by March 2011. Applicants must also be willing to study the Japanese language, and to receive instruction in that language.
3. Applicants for a major in Social Sciences and Humanities must sit for a Mathematics, English and Japanese exam. Applicants for a major in Natural Sciences must sit for Mathematics, English, two subjects selected from among physics, chemistry and biology and Japanese (5 subjects in all). There will also be a mandatory interview for short-listed applicants in late July to early August. Examinations and interviews will be conducted at the Embassy of Japan, Canberra and Consulates-General of Japan, Sydney, Melbourne, Perth and Brisbane. Other examination sites may also be decided upon reviewing applications. Travel expenses for the exam will be borne by applicants.
4. Successful students will depart for Japan in April 2011.
5. Benefits: return airfare and allowance of ¥125,000 (approx. A$1400) per month. (Subject to change)
6. Closing date for applications is TUESDAY 15 JUNE 2010 .

Further scholarship and application detail: http://www.au.emb-japan.go.jp/pdf/Undergrad2011ApplicationPack.pdf

Source: http://www.au.emb-japan.go.jp/e_web/education/Monbukagakusho.htm#Undergraduate%20Category