Japan's parliament officially elected Shigeru Ishiba as the country's new prime minister on October 1. Ishiba, who leads the governing Liberal Democratic Party (LDP), is the 102nd Prime Minister of Japan. He has already appointed Katsunobu Kato, a former finance ministry bureaucrat turned lawmaker, as the finance minister.

Ishiba was chosen as the LDP leader following the Japan Elections 2024 held on September 27, stepping in to replace Fumio Kishida, who resigned earlier today to allow for this leadership transition. Ishiba was selected by members of both the lower and upper houses, where the LDP holds a majority, defeating candidates from opposition parties. Later in the day, he will be formally appointed by Emperor Naruhito at the Imperial Palace.

The new prime minister faces significant challenges, including Japan’s declining population and a fragile economy still grappling with years of deflation. National security concerns are also pressing, with rising threats from China, North Korea, and Russia, alongside the anticipation of a new U.S. president to be elected next month.

Fumio Kishida, who took office in 2021, stepped down due to ongoing scandals that plagued his government. Ishiba has announced plans to call a parliamentary election on October 27, stating, "I believe it is important to have the new administration get the public’s judgment as soon as possible."

At 67, Ishiba’s journey to the prime ministership has been one of persistence. He has attempted to lead the LDP five times, and in his latest campaign, he outperformed economic security minister Sanae Takaichi, who aimed to be Japan’s first female Prime Minister. The decisive run-off vote resulted in Ishiba securing 215 votes compared to Takaichi’s 194, solidifying his position as Kishida’s successor.

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