REFILE-Japan Ozawa:investment could help control yen rise

Fri Sep 3, 2010 8:51am EDT

(Fixes dateline)

TOKYO, Sept 3 (Reuters) - Japanese ruling party powerbroker Ichiro Ozawa, challenging Prime Minister Naoto Kan in a party leadership vote, said on Friday that investing in foreign resources could help stem a rapid rise in the yen.

"The strengthening yen is not necessarily a bad thing for the country," Ozawa said on public broadcaster NHK. "Actively taking measures such as ... making use of the strong yen and making big investments in resources abroad would be effective in controlling the rapid yen rise."

Ozawa would likely become prime minister if he defeats Kan in a Sept. 14 Democratic Party of Japan (DPJ) leadership vote, but the outcome is too close to call. (Reporting by Yoko Kubota; Editing by Alex Richardson)

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