Arsenal moved Miyaichi to Bolton just before the January transfer window closed, the 19-year-old having been limited to two League Cup appearances for the Gunners this season.
"[Arsenal manager] Arsene Wenger wished me luck and told me to enjoy myself when I get the chance to play," the deadline day signing told Bolton's website.
"Jack Wilshere said I would become a better player by playing here," added Miyaichi, who watched Bolton hold Arsenal 0-0 at home on Wednesday before meeting his new team mates.
"I saw what Jack did here [on loan] two years ago. Of course, I want to be like him and play well for Bolton. My style is to dribble with the ball so I'm excited to come here."
Bolton are currently 17th in the Premier League, hovering precariously above the relegation zone.
"He's a very talented young player, who is quick and exciting," said Bolton manager Owen Coyle said. "He had a great spell on loan at Feyenoord last season."
Miyaichi will become the third Japanese player to wear Bolton's colours after Akinori Nishizawa and Hidetoshi Nakata.
"I think it will be different [from London]," said Miyaichi. "My first impressions are that it is a bit colder in Bolton."
