TOKYO (AFX-ASIA) - Finance Minister Masajuro Shiokawa said the government may cut corporate taxes this fiscal year if an economic emergency arises, though he added that at present he remains neutral on the issue. "It is undesirable in principle to implement tax reforms in the current fiscal year but if ... an emergency situation arises, it will not be a problem to do so by negotiating with the Diet," he told a regular briefing. Shiokawa attempted to clarify his reported comments at the weekend G7 meeting that the dollar/yen will continue to trade in a 130-135 yen range. "That news report is wrong. I just answered the Russian finance minister's question about the dollar/yen's future movement. I just said the dollar has recently been fluctuating between 130 and 135 yen," he said. However, he continued: "The forex level should be determined by the market but the Japanese economic fundamentals are unchanged and will not change for the time being. I think this (range) is good."