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Japan finmin: yen rise persisting, doesn't reflect Japan economy

TOKYO, Oct 1 (Reuters) - Newly appointed Japanese Finance Minister Koriki Jojima said on Monday that the yen's persistent rise does not reflect the true condition of the nation's economy.

"Europe's debt crisis and heightening concerns about the U.S. economy are behind the current movements," Jojima told a news conference when asked about the currency markets.

"One-sided yen strength is continuing and it does not reflect Japan's economic fundamentals," he said.

Jojima also said Prime Minister Yoshihiko Noda instructed him to cooperate closely with the Bank of Japan to beat deflation.

The BOJ, which eased monetary policy last month, will hold its next policy-setting meeting this week.

(Reporting by Kaori Kaneko, Tetsushi Kajimoto; Editing by Edmund Klamann)

((kaori.kaneko@thomsonreuters.com)(+81-3-6441-1983)(Reuters

Messaging: kaori.kaneko.reuters.com@reuters.net))

Keywords: JAPAN ECONOMY/JOJIMA