Japan Remains Committed to G-20 Principles on Currencies Says Fin Min

    By Natasha Brereton-Fukui

    MOSCOW--Japan's finance minister, Taro Aso, said Saturday his country remains committed to the Group of 20 industrial and developing nations' principles on currencies.

    A communique released after meetings of top G-20 finance officials in Moscow stated the group's commitment to market-determined exchange rates, exchange-rate flexibility to reflect underlying fundamentals, and refraining from competitive devaluation of currencies.

    "Japan remains committed to these principles," Mr. Aso said at a press conference after the meetings. He also said he had obtained from his G-20 counterparts an understanding of the new Japanese government's more aggressive approach to monetary and fiscal policy.

    A step-up in monetary easing by the Bank of Japan along with indications from senior government officials that a weaker yen is desirable have recently caused the currency to depreciate sharply, creating suspicions overseas that Japan's authorities might be trying to manipulate the country's foreign-exchange rate to benefit its exporters.

    But Mr. Aso stressed late Friday that Japan has no target for the yen's exchange rate, and that the currency's weakening was a side effect--not an aim--of the country's stimulus policies.

    Bank of Japan Governor Masaaki Shirakawa, who was also present at Saturday's press conference, emphasized that the central bank's ultra-easy monetary policy was aimed at boosting Japan's economy by exiting deflation. He reiterated that the efforts of individual countries to support their domestic conditions would help the world economy as a whole.

    Write to Natasha Brereton-Fukui at natasha.brereton-fukui@dowjones.com