A racial slur against Japanese person. Or person of Japanese descent. Nowadays people use this word without understanding the history behind this derogatory word. Japanese Americans living in the United States faced racial prejudice during World War II. This word shouldn't be forgotten, and shouldn't be used lightly even if there are other definitions for this word.
"The Japs bombed pearl harbor"
Search for "Executive Order 9066" "Japanese American internment camps" on the web.