The dispute over the islands, known as the Southern Kurils in Russia and the Northern Territories in Japan, has prevented the two sides from fully putting the conflict behind them.
The summit is the latest attempt to reach an agreement since Japan and the former Soviet Union began discussions in 1956.
Mr Putin, who is accomplished in the Japanese martial art of judo, has said he sees the lack of a peace treaty as an “anachronism” and wants to resolve the issue, while acknowledging that progress has been “difficult”.
Mr Abe has looked to win concessions by dangling the prospect of major Japanese investment in front of Moscow, which is mired in an economic crisis made worse by falling oil prices and Western sanctions over Crimea and Ukraine.
He said Thursday that the two discussed joint economic development of the islands and making it easier for former Japanese residents, whose average age is 81, to visit.
Yuri Ushakov, a Kremlin adviser, told reporters Thursday that the two leaders called for experts to find ways to achieve joint exploitation of the four islands, citing “fishing, tourism, culture and medicine”.
Business leaders from the two countries are also meeting Friday.
