Japan's New PM Takaichi Names Katayama Finance Minister

Sanae Takaichi became Japan’s first female prime minister on Oct. 21 after winning the Liberal Democratic Party leadership on Oct. 4. She appointed Satsuki Katayama as finance minister—Japan’s first woman in that role and a former Finance Ministry bureaucrat and economic revitalization minister with decades of budget and fiscal experience. Markets briefly strengthened the yen on the pick, and analysts say Katayama's past comments opposing excessive yen weakness and her currency-diplomacy skills could prompt investors to reassess bets on further declines. Takaichi’s cabinet includes only two women among 19 ministers, and observers say plans for more proactive household support and other fiscal stimulus raise questions about how to fund measures amid high public debt; she also inherits a weakened LDP and will likely need cross-party backing to pass budgets and legislation.