Prime Minister Naoto Kan and U.S. President Barack Obama agreed Thursday their countries will consult closely on the heightened tensions between Japan and China, Deputy Chief Cabinet Secretary Tetsuro Fukuyama said.

Kan and Obama, meeting in New York on the sidelines of U.N. meetings, also confirmed the importance of the Japan-U.S. security alliance, saying it not only stabilizes the Asia-Pacific region but also serves as a cornerstone for global peace and prosperity.

With Kan describing the bilateral alliance as "infrastructure" for peace in the Asia-Pacific region as well as the world, the two leaders recognized the need to closely monitor developments in their relations with China, according to Fukuyama, who attended the hourlong summit.

Fukuyama said the two leaders didn't have enough time to sufficiently address economic issues, so they didn't touch on the foreign exchange issue despite Japan last week making its first yen-selling intervention in the currency markets in more than six years.