Newly appointed Economy, Trade and Industry Minister Akihiro Ohata believes Japan needs to pull out all the stops to boost its economy, including drafting an extra budget, lowering corporate tax and forging more economic partnership agreements with other countries.
"Just as our economy was recovering from the effects of the fall of Lehman Brothers, we've seen the yen's sharp rise against the dollar. A sense of uncertainty for the future is growing, and (the exchange rate) has greatly damaged the export industry," Ohata said during an interview with media organizations Wednesday.
"We will do everything that needs to be done," said Ohata, a veteran Democratic Party of Japan member, who is in his seventh term as a Lower House lawmaker.