Japan’s Noda Unveils First Plan to Counter Damage From Yen
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Japanese Prime Minister Yoshihiko Noda unveiled his first plan as premier to lessen the pain of a yen near postwar highs, including a pledge to grant “large” subsidies for domestic construction of factories.
“We have to establish a strong economic structure that won’t be affected by movements in currency markets, whether it’s a strengthening or a weakening in the yen,” Motohisa Furukawa, the economy minister, told reporters in Tokyo after the government released its interim report today on measures to respond to the yen’s appreciation.