Govt. unveils measures to cope with high yen

The Japanese government has unveiled a policy package to ease the impact of the persistently strong yen, including measures to stop companies from shifting production overseas.

Prime Minister Yoshihiko Noda, cabinet ministers in charge of economic matters and Bank of Japan Governor Masaaki Shirakawa met on Tuesday. They agreed on an interim plan to deal with the high yen.

It calls for expanding subsidies to manufacturers that stay at home to open factories for energy-efficient products.

The plan also proposes to support Japanese industries by providing more low-cost financing for small- and medium-sized businesses hit by the currency surge.
It also suggests beefing up a fund aimed at creating jobs in growth-sector areas such as healthcare.

Many of these measures are expected to be incorporated in the third supplementary budget for this fiscal year.