According to Japanese media reports, the pair had been living with Muslim rebel groups and at least one of them has married a local woman and had a family.Link (via Fark)
The BBC's Tokyo correspondent says the likelihood is that they are well aware the war is over but have chosen to stay in the Philippines for their own reasons...
The Sankei Shimbun daily said the men would most likely be members of the Panther division, 80% of whom were killed or went missing during the final months of the war.
It speculated there could be as many as 40 Japanese soldiers living in similar conditions in the Philippines.
I write books. My latest is a YA science fiction novel called Homeland (it's the sequel to Little Brother). More books: Rapture of the Nerds (a novel, with Charlie Stross); With a Little Help (short stories); and The Great Big Beautiful Tomorrow (novella and nonfic). I speak all over the place and I tweet and tumble, too.