The era of a weaker yen is coming to an end and Japan's currency may strengthen toward 115 per dollar, according to Eisuke Sakakibara, a former vice finance minister.

The yen was little changed at 119.42 per dollar as of 5 p.m. in Tokyo Friday, after surging 0.5 percent the previous day when the U.S. Federal Reserve kept its policy rate unchanged.

The currency has rebounded since reaching a 13-year low of 125.86 in June. When asked about the Fed's decision to stand pat, Sakakibara said: "The impact is not really that strong" on Japan.