Japan’s relations with Germany and Italy during the Second World War were rather limited. Nevertheless, there were some regional nuances and growing cooperation as the war drew to its close. In the Indian Ocean, at least, and especially in the area around the Straits of Malacca and the Java Sea, the Japanese and German empires, and to a lesser extent the Italian empire too, did develop a rather intensive cooperation during the final two years of the war (1943–45). This cooperation encompassed several domains, such as the exchange of vital raw materials and military technology, coordinated naval activity, and even an ideological affinity that materialized in pressures to implement harsher racial policies towards Jewish communities in the region. This article examines the scope of this unique inter-Axis collaboration, the specific reasons for why which came into being in this region in particular, and the lessons we may draw from it.