The chairman of the Federation of Economic Organizations (Keidanren) expressed concern Wednesday over the yen's excessive weakness against the dollar.
"A weaker yen helps exporters," Imai said, "but it also means declining confidence in Japanese government bonds."
The yen's continuing depreciation will cause a rise in long-term interest rates and capital flight from Japan, he added.
"The financial authorities of Japan and the United States will not need to intervene in the exchange market as long as the dollar stays at around 130 yen," Imai said.