Bank of Japan board member Seiji Adachi said the yen's recent fall was bringing benefits to the country's economy by boosting corporate profits earned overseas, pushing back against views the currency's present weakness is cause for concern. Adachi also said the BOJ was ready to ramp up stimulus if the spread of a new coronavirus variant leads to renewed curbs on economic activity, and strain corporate funding. "We'll keep a close eye on the pandemic's fallout for the time being and stand ready to take additional easing steps as needed to assist firms' efforts to sustain business operations," Adachi said, according to a text of his speech delivered to business leaders in Oita, southern Japan, on Wednesday. Adachi shrugged off concern raised by some analysts that recent yen decline could push up import costs and lead to stagflation, where inflation accelerates even as the economy remains in bad shape. "Personally, I don't think Japan is facing a 'bad weak yen' that could lead to stagflation," Adachi said. "The yen's recent fall actually is bringing benefits to the economy" by boosting profits Japanese firms reap overseas, he added. Reporting by Leika Kihara; Editing by Chang-Ran Kim & Shri Navaratnam Our Standards: The Thomson Reuters Trust Principles.