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"It was mainly weighed by China's Lunar New Year holidays," HSBC Securities Chief Economist Seiji Shiraishi told Dow Jones Newswires.
"I expect the economy to remain on course to exit its recent lull, so exports should remain healthy as well going forward," he said.
Separate data released Tuesday by the Bank of Japan showed bank lending continued to drop in February for the 15th straight month, a sign that many firms remain cautious about the economic outlook. The wave of social unrest sweeping the Middle East and North Africa has seen oil prices surge, prompting worries that the higher cost of oil will depress a global economic recovery.