Some members of the Bank of Japan Policy Board voiced concern at a Sept. 11-12 meeting that the yen's recent rise could hurt Japanese exports, according to minutes released Thursday.

"Some members raised the recent appreciation of the yen as a risk factor for developments in exports, and emphasized the importance of exchange rate stability," the minutes say.

Yet board members agreed that, while exports and production have remained virtually flat overall, the probability that they will gradually recover is high.