Sweden eliminated the defending champions USA in the previous round, while Japan brushed past Norway in their last-16 tie.
Match preview
Twelves years after winning their one and only Women's World Cup trophy, Japan are firmly in the hunt for silverware in Australia and New Zealand.
They dispatched Zambia and Costa Rica with ease in their opening two games, before claiming a statement 4-0 victory over Spain in their final group match.
Japan conceded for the first time at the tournament in their last-16 tie with Norway when Chelsea's Guro Reiten cancelled out Vilde Boe Risa's own goal.
The two sides may have been on level terms at the break, but Risa Shimizu quickly restored Japan's lead after the half-time interval, before Hinata Miyazawa found the net to round off a 3-1 win.
Having sealed their place in the last eight, Japan will now be looking to advance to the Women's World Cup semi-finals for the third time in their history.
Sweden conquered the defending champions in the last 16 after they withstood the USA's relentless pressure to send a goalless encounter to penalties.
Although Sweden were unable to convert to of their spot-kicks, three missed efforts from the USA gave Lina Hurtig the chance to win a dramatic shootout, which included a finely struck effort from USA goalkeeper Allysa Naeher.
Hurtig was made to wait for VAR to decide if her striker had crossed the line after Naeher got a hand to it, and the final outcome was certainly worth the wait, as a goal was confirmed to spark scenes of jubilation among the Sweden squad.
After ending the USA's hopes of winning a third consecutive Women's World Cup, Sweden will now focus on their own aspirations of winning the tournament for the very first time.
They have managed to reach the semi-finals on four occasions, including in France four years ago when they beat Germany 2-1 to advance to the last four.
Japan Women Women's World Cup form:
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Sweden Women Women's World Cup form:
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Team News
After making light work of their last-16 tie with Norway, Japan boss Futoshi Ikeda is expected to name an unchanged lineup.
Hana Takahashi will start a third consecutive game, and she will be joined in a back three by Saki Kumagai and Moeka Minami.
Miyazawa is currently the tournament's top scorer, and she will be looking to add to her four-goal tally when she features up front on Friday.
As for Sweden, Peter Gerhardsson could also opt for consistency and select the same side that started against the USA.
Arsenal summer signing Amanda Ilestedt will continue to operate in central defence alongside Magdalena Eriksson, and they will be aiming to help their country record a fourth consecutive clean sheet.
Having scored three goals at the tournament, Barcelona's Fridolina Rolfo will offer one of Sweden's main goal threats.
Japan Women possible starting lineup:
Yamashita; Takahashi, Kumagai, Minami; Shimizu, Hasegawa, Nagano, Endo; Miyazawa, Fujino, Tanaka
Sweden Women possible starting lineup:
Musovic; Bjorn, Ilestedt, Eriksson, Andersson; Angeldahl, Rubensson; Rytting Kaneryd, Asllani, Rolfo; Blackstenius
We say: Japan Women 2-1 Sweden Women
After playing 120 minutes against the USA, there may be some weary legs among the Sweden squad, and we think that tiredness could play into the hands of their opponents.