TOKYO (Kyodo) -- Japan's top currency diplomat pledged Tuesday to continue taking necessary measures to stabilize the movements of the yen, underscoring his willingness to intervene in the foreign exchange market if necessary.

As his predecessor, Masato Kanda, oversaw bouts of yen-buying operations to prevent the currency's sharp fall in recent years, Atsushi Mimura said at a seminar in Tokyo that the government's stance on market intervention has "never changed."

Mimura, vice finance minister for international affairs, took over the position from Kanda earlier this year. The yen has been on a downward trend despite speculation that the Bank of Japan may keep tightening its policy to tackle price hikes.

His remarks came on the same day that Shigeru Ishiba, who had been elected as the new leader of the ruling Liberal Democratic Party in its presidential election late last week, was appointed Japan's prime minister on Tuesday.