Cast into the outer darkness. No, even more outer
I'm sure everyone is sick to death of all that "save Pluto!" jive (my position: the more different official types of things there are in the solar system, the awesomer), but for those looking to start transpacific trouble, here's the official Japanese term for "dwarf planet": 矮惑星, pronounced waiwakusei.
Wakusei is the standard word for "planet." Etymologically, it means "lost/troubled star", maybe because they move around in the sky so much more than the actual stars. Wai, unsurprisingly, means "dwarf", and is used in Sino-Japanese words like 矮樹 (waiju, "small tree"), and ateji-style to write native Japanese/heavily Japanesified words like 矮鶏 (chabo, "bantam") and 矮人 (hikiudo, "dwarf" or "midget").
My dictionary tells me that the the part on the right is borrowed from 萎, "weaken, wither", while the 矢 radical on the left represents a person. This would make the character a very close relative of 倭, the original Chinese character for Japan, which many people suspect also meant "midget[land]."
Incidentally, I feel that we English speakers have lost a great opportunity to name Pluto and its brethren "strange dark orbs at the very rim of our solar system" ("stradorbs" for short).
Paul Davidson:
Hey, Pluto will always a planet in my books. Dwarf planet is a silly compromise, since we've already got minor planets (Ceres and its ilk).
I wish they'd recognize Sedna and Xena and Quaoar as planets too so they could get cool Japanese kanji names.