Shigeru Ishiba, 67, Elected Japan's Next Prime Minister, Succeeds Fumio Kishida with 215-194 Vote

Sep 27, 2024, 07:11 AM

Former Defense Minister Shigeru Ishiba, 67, has been elected as the new leader of Japan's ruling Liberal Democratic Party (LDP) and is set to become the country's next prime minister, succeeding Fumio Kishida. Ishiba won the closely contested runoff election against economic security minister Sanae Takaichi with a vote count of 215-194. This marks Ishiba's fifth attempt to lead the LDP. Known for his plain-spoken opinions and strong interest in military affairs, Ishiba is seen as more yen-positive and has previously advocated for the Bank of Japan to align its policies with global interest rates. His victory has already impacted financial markets, with the Japanese yen surging and bond futures dropping. Ishiba is expected to assume office on October 1.