CALGARY, Canada (AFX) - Japanese Prime Minister Junichiro Koizumi told his G8 counterparts the Japanese economy touched bottom in May and said he is committed to pressing on with structural reforms, according to a Japanese official. "Japan was over-confident in the past and has totally lost confidence now. Neither of them is good ... Japan's (credit) rating has been lowered even below that of an African nation but I am committed to press ahead with structural reforms and lead the world economy," Koizumi was quoted by the official as saying. "After the prime minister's remark, some leaders pounded the desk and clapped hands" in praise, the official said. "They congratulated the prime minister for the achievement he has made so far," the official said.