Japan's incoming Prime Minister Shigeru Ishiba, who won the leadership of the ruling Liberal Democratic Party (LDP) in a close race, has called for a general election on October 27, a year earlier than scheduled. The election will determine control of the lower house of parliament. Ishiba emphasized the importance of the new administration being judged by the people promptly. Following his leadership victory, Japanese shares fell over 4% as the yen strengthened and government bonds rose. Ishiba has begun selecting officials for his administration, including appointing close allies and former rivals to key positions, though notably excluding hardline conservative Sanae Takaichi. Ishiba aims to restore confidence in the LDP, which has been marred by scandals and declining public support.