TOKYO, June 30 (Reuters) - The Bank of Japan's new board member, Takako Masai, said on Thursday excessive currency moves that do not reflect economic fundamentals are undesirable.

"Excess volatility in currency markets risks hurting companies' investment activity," Masai said at her inaugural news conference.

Parliament last month approved the government's nomination of Masai, a commercial bank executive, to join the nine-member board, succeeding Koji Ishida.

(Reporting by Leika Kihara and Stanley White; Editing by Chris Gallagher)