The men, aged 53 and 48, were part of a seven-member group that climbed the 3,190-meter peak and became stranded during their descent, Kyodo News reported.
Police launched a search on the evening of Oct. 11 after a staff member at a mountain lodge near the summit received a report from a Philippine woman that three members of her group were missing, Manila Standard reported.
Rescuers found the three about 170 meters from the lodge at around 5:20 a.m. local time on Oct. 12.
The older man was in serious condition, and later confirmed dead. The other man is believed to be suffering from hypothermia.
The third person, a woman, descended on her own, police said.