Official economic reports from Japan's government or credible financial news sources

Shigeru Ishiba Elected Japan's New Prime Minister with 291 of 461 Votes

Oct 1, 2024, 02:04 AM

Shigeru Ishiba has been elected as Japan's 102nd Prime Minister, succeeding Fumio Kishida after winning 291 of 461 votes in the House of Representatives. Ishiba, previously an outsider in the ruling Liberal Democratic Party (LDP), has pledged to take Japan to a 'new future.' He has opted for continuity in his early cabinet picks, naming party veterans and proponents of former Prime Minister Shinzo Abe's 'Abenomics' policies to key positions. Notable appointments include Katsunobu Kato as Finance Minister and Takeshi Iwaya as Foreign Minister. Ishiba's administration faces the immediate challenge of addressing regional tensions and managing Japan's relationship with the United States. He has signaled a desire for more control in the U.S.-Japan alliance, which he views as asymmetrical. Additionally, Ishiba's cabinet includes 13 first-time members and only two women, indicating that increasing female representation may not be a priority for his administration. A snap election is also on the horizon as Ishiba seeks to solidify his mandate.