Japan DPJ Ozawa: FX intervention an option on yen

TOKYO, Sept 1 (Reuters) - Japanese ruling party powerbroker Ichiro Ozawa, challenging Prime Minister Naoto Kan in party leadership vote, said in a policy statement he would implement steps including currency intervention if the yen rose rapidly.

Ozawa also said in a statement that he would use 2 trillion yen ($23.76 billion) of reserve funds in the budget for the current fiscal year to next March for economic steps.

Ozawa will face off with Kan for the leadership in a party vote on Sept. 14. The winner of the race will likely become premier by virtue of the Democrats' majority in parliament's powerful lower house. (Reporting by Chisa Fujioka; Editing by Michael Watson)