MNI BRIEF: BOJ's Kuroda Says Recent Yen Weakness Not "Bad"

Recent weakness in the yen against the dollar won't have an adverse impact on Japan's economy and isn't a "bad" development, Governor Haruhiko Kuroda said on Thursday after the central bank board meeting.

"The yen fell a little but ... it doesn't have an adverse impact on Japan's economy," Kuroda told reporters.

The positive impact of a yen fall is more than the impact of higher import costs, Kuroda said. He added that the impact of a weaker yen depends on economic and price conditions at that time.

He also said that foreign exchange rates should reflect the economic fundamentals of each country. Kuroda also said that the impact of weak yen on Japan's exports is less as businesses shift production overseas.

But he added that the impact of a weaker yen on corporate profits is increasing as businesses are taking profits overseas.