Finance Minister Fukushiro Nukaga said Monday he wants to find areas where the Group of Seven industrialized countries can work together to deal with recent global market turbulence at the group's meeting next week.
"As chairman of the meeting, I want to discuss where policy coordination is possible among the G-7 members at the meeting, and I want to issue a message," Nukaga told a Diet committee.
The meeting of financial heads of the G-7 countries will be held Feb. 9 in Tokyo.
Nukaga added each G-7 member must first understand its own situation and take appropriate policy responses.
Nukaga suggested it may be hard for the G-7 nations to cobble together a concerted plan of action for dealing with the market jitters because of differences in the state of their economies.
Nukaga said he wants to hear more at the meeting about the U.S. subprime loan issue and how it is affecting the U.S. economy.
The Group of Seven comprises Britain, Canada, France, Germany, Italy, Japan and the United States.
Meanwhile, BOJ Gov. Toshihiko Fukui said the recent declines in Japanese stock prices are partly the result of a stronger yen.