As reported on tex.stackexchange and on the mailing list this document fails with a current miktex: (No idea if the chinese will be copied correctly ;-)):
\documentclass{memoir}
\usepackage{CJKutf8}
\begin{document}
\begin{CJK}{UTF8}{min}未練なく散も桜はさくら哉\end{CJK}
\end{document}
An inspection showed that a tfm-folder and a vf-folder (\fonts\tfm\wadalab\udmj and \fonts\vf\wadalab\udmj) from mincho-0-12-20080306.tar.gz are missing in the cjk-fonts package.
I think that also from the other fonts-tar.gz in fonts/wadalab the "virtual font layer" (tfm + vf) are missing but I didn't check carefully.
Ulrike Fischer