Japan's top financial diplomat, Mr Eisuke Sakakibara, will exit the stage of global finance shortly as part of a sweeping personnel reshuffle as politicians seek a clean slate at the powerful finance ministry.

A senior government source said yesterday that the high-profile Mr Sakakibara, known as "Mr Yen" for his influence in currency markets, would be replaced by his deputy, Mr Haruhiko Kuroda, in an annual reshuffle expected around July 8th.

Mr Sakakibara, a scuba aficionado with a standing offer of a visiting professorship in Australia, had long been expected to step down this year after completing what is traditionally a two-year stint as vice-finance minister for international affairs.