Japanese Trade Minister Masayuki Naoshima said on Thursday that he was worried about a recent rise in the yen as Japanese companies are facing currency risks.

I am really concerned about the yen's recent rise, Naoshima told a parliamentary committee.

Japan's companies are now competing with Chinese and South Korean firms. In China and South Korea, their currencies are linked to the dollar so in that sense, they don't face currency risks. But Japanese firms are facing huge currency risks ... In that sense, we may need to take some sort of action in the future. (Reporting by Yoko Nishikawa; Editing by Edmund Klamann)

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