The Japanese Finance Ministry's international bureau chief Atsushi Mimura will become the top currency diplomat effective July 31, the ministry said Friday, replacing Masato Kanda, who has led its battle against a rapidly weakening yen.
The next vice finance minister for international affairs, Mimura, 57, joined the ministry in 1989 and has assumed key posts dealing with international affairs, including as director general of the International Bureau since 2021.
During his tenure as the top currency diplomat since 2021, Kanda, 59, has led the ministry's efforts to ensure stability in the currency market.
Japan carried out a series of yen-buying, dollar-selling operations in 2022, and most recently between April and May. The yen's recent steep drop past the levels that apparently prompted intervention has left markets jittery about another possible foray.
Kanda, who also played a key role when Japan was the chair of the Group of Seven advanced economies in 2023, will leave the post after a meeting of the Group of 20 finance chiefs in Brazil scheduled for July 25 and 26.
"I'm confident that Mr. Mimura will take over the job from Mr. Kanda and tackle various challenges related to international affairs, which include foreign exchange issues at the moment," Finance Minister Shunichi Suzuki said at a press conference.
The post of international bureau chief will be succeeded by Akihiro Tsuchiya, 56, who has worked under him as senior deputy director general.
The ministry also selected Hirotsugu Shinkawa, 61, the current chief of the Budget Bureau, as the next vice finance minister, effective next Friday. He will replace incumbent Eiji Chatani.
Shinkawa joined the ministry in 1987 and once served as one of the secretaries when Shinzo Abe was prime minister.
Tatsuo Oku, 56, who is now the director general of the Financial Bureau, will head the National Tax Agency.
