Finance Minister Kiichi Miyazawa indicated Friday that the Group of Seven industrialized nations have already begun discussing the yen's fast-paced appreciation against the dollar, prior to the finance ministers' meeting in Washington next weekend.

Miyazawa also admitted the yen's steep rise is no longer an issue that can be handled by Japan alone.

"There are discussions going on among the (G7) countries over this problem," Miyazawa said in a regular news conference. He also indicated that the G7 would probably put the exchange rate issue on next week's agenda if the situation does not improve before then.

He also noted that Haruhiko Kuroda, vice finance minister for international affairs, who is visiting the U.S., has had informal talks with Timothy Geithner, U.S. Treasury undersecretary for international affairs, over the exchange rate.

Miyazawa declined to specify what the talks produced but when pressed did not deny that the two officials probably discussed Japan-U.S. concerted action to stem the yen's appreciation.

The finance chief recently said the strong yen was Japan's own problem because it reflects market expectations of an economic recovery.

Miyazawa and Bank of Japan Gov. Masaru Hayami held an emergency meeting Thursday in Tokyo and confirmed their stand that "an excessive rise" by the yen could damage the economy. They then agreed to ask other G7 countries to carry out concerted yen-selling.

On Friday morning, Miyazawa said he talked to Hayami again by telephone and at the Cabinet meeting. Hayami has been exchanging opinions with William McDonough, president of the Federal Reserve Bank of New York, according to Miyazawa.

In Friday's news conference, Miyazawa declined comment on a further relaxation of the BOJ's monetary policy. Calls are growing for the central bank to increase supply of the yen to curb the currency's appreciation.