Takeo Hiranuma, the minister of economy, trade and industry, said Friday that the yen's excessive rise against the dollar is not desirable.
Speaking at a news conference after the day's Cabinet meeting, Hiranuma said the dollar should not be allowed to fall below 115 yen.
The government should take measures to prevent Japan from being hurt by the yen's rise, he added.
The dollar took a plunge overseas Thursday, falling below 116 yen at one point. In late Friday morning trading in Tokyo, it was moving at around 117 yen, propped up by intervention by the Bank of Japan.