Bessent is arranging a three-day visit to Japan starting Monday, said the source, who declined to be identified as the matter is private. Bessent is then scheduled to visit China.

Bessent will speak individually with Takaichi, finance minister Satsuki Katayama and Bank of Japan (BOJ) governor Kazuo Ueda during the visit, the source added.

Nikkei, which first reported the planned meetings citing officials from both countries, said Bessent is expected to discuss curbing speculative yen selling, economic security matters such as rare earths and energy procurement, and potentially the war in Iran.

His visit comes as Japan battles a sliding yen that is pushing inflation and household costs higher.

The yen surged suddenly on Wednesday, sparking speculation of further intervention by Tokyo.

The currency climbed from around ¥157.8 to the US dollar to ¥155 in a half hour of holiday-thinned trade in the Asian session.

Last month, Japan and the US had agreed to strengthen communication on exchange rates.

Bessent has repeatedly signalled that the yen’s weakness could be better addressed through faster rate hikes by the BOJ.