Japan Promises Steps to Address Impact of High Yen

Posted September 20th, 2011 at 1:46 am (UTC-5)
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The Japanese government says it will unveil a series of measures to help businesses withstand the impact of the stubbornly high yen.

Officials say the measures will include subsidies for companies establish manufacturing plants in Japan, as well as help for corporations that want to take advantage of the strong yen by investing in overseas renewable energy projects.

The rising value of the yen against the U.S. dollar makes Japanese-made products more expensive on global markets.

The measures are likely to be included in a third supplementary budget for the current fiscal year.

Finance Minister Jun Azumi says he will explain Japan's stance on the strong yen during this week's G-20 meeting of top financial officials from 20 industrialized and developing nations in Washington.