Shigeru Ishiba Elected Japan's New Prime Minister

Shigeru Ishiba is set to become Japan's next prime minister after winning the Liberal Democratic Party leadership race in his fifth bid, defeating hardline nationalist Sanae Takaichi. Ishiba plans to appoint party veterans to senior cabinet positions, including Katsunobu Kato as finance minister and Takeshi Iwaya as foreign minister. The new administration will launch on Tuesday after a parliamentary vote. Ishiba's victory has already impacted financial markets, with Japanese shares dropping and JGB yields rising. He aims to maintain continuity in economic and foreign policies while addressing internal party unity and preparing for an early general election. Ishiba also expressed intentions to reinforce Japan's security, signaling a possible shift in regional defense strategies.