Momoi, the former high school principal and father of five children, died at a Tokyo hospital on Sunday where he had lived for many years.
Fond of reading, especially Chinese poetry, Momoi had been named the oldest man by Guinness in August last year after a man born in Poland, who was then the world's oldest, died in June 2014 at the age of 111 in the US.
"I want to live for about two more years," the supercentenarian had said when recognised as the world's oldest male.
His death has come a day after the world's oldest living person celebrated her 116th birthday.
Susannah Mushatt Jones of Brooklyn, New York was recognised as the world's oldest living person by Guinness World Records yesterday.
Born in 1903 in Fukushima, Momoi picked healthy eating and plenty of sleep as secrets for his longevity.
Following his death, Yasutaro Koide, a 112-year-old Japanese man who was born a month after Momoi is likely to become the oldest man in the world.
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