Tokyo
\nFormer defence minister Shigeru Ishiba on Friday was set to become Japan\u2019s next prime minister after winning a closely fought contest in his fifth and final attempt to lead the ruling Liberal Democratic Party (LDP).
\nSpeaking at a news conference after winning the ruling party\u2019s leadership race, Ishiba \u2014 who is essentially assured of becoming the next premier because of its majority in parliament \u2014 stressed the need for the Japan\u2019s economy to fully emerge from deflation.
\nRevitalising consumption is key for Japan to emerge from economic stagnation, he said, adding the new administration must consider the most effective means to cushion the blow to households from rising inflation.
\n\u201cI will ensure Japan emerges from deflation,\u201d he said, promising to accelerate current Prime Minister Fumio Kishida\u2019s policies aimed at boosting household income through wage hikes.
\nThe 67-year-old prevailed over hardline nationalist Sanae Takaichi in a run-off vote in what was one of the most unpredictable leadership elections in decades with a record nine candidates in the field, Reuters reported.
\nThe scramble to replace Kishida was sparked in August when he announced his intention to step down over a series of scandals that plunged the LDP\u2019s ratings to record lows.
\nHe must quell anger over rising living costs, about his scandal-plagued party and navigate a volatile security environment in East Asia, which includes China and nuclear-armed North Korea.
\nHis approach to diplomacy with Japan\u2019s closest ally, the United States, will be in focus given he has repeatedly called for a more balanced relationship with Washington.
\nIn his campaign, he also called for the creation of an Asian NATO, an idea that could draw ire from Beijing and has already been dismissed by a senior United States official as hasty.
\nUS ambassador to Japan, Rahm Emanuel, congratulated Ishiba in a post on X saying he looked forward to working with him to strengthen the US-Japan alliance.
\nWho is Shigeru Ishiba?
\nIshiba entered parliament in 1986 after a short banking career, but his outspoken views have earned him enemies in the LDP.
\nHe was sidelined by outgoing PM Kishida, instead becoming a dissenting voice in the party who enjoyed broad support from the public and rank-and-file members.
\nHe has rebelled on policies including the increased use of nuclear energy and has criticised his party for not allowing married couples to use separate surnames.
\nHis contrarian views and spats with colleagues contributed to four previous failed leadership bids. He has said this was his \u201cfinal battle\u201d.
\nThe yen bounced on Friday, recovering earlier losses, after Ishiba, seen as a critic of past aggressive monetary stimulus, won the ruling LDP\u2019s leadership contest.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tokyo Former defence minister Shigeru Ishiba on Friday was set to become Japan\u2019s next prime minister after winning a closely fought contest in his fifth and final attempt to lead the ruling Liberal Democratic Party (LDP). Speaking at a news conference after winning the ruling party\u2019s leadership race, Ishiba \u2014 who is essentially assured of […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-433992","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-world"},"yoast_head":"\n