Japan’s incoming PM Ishiba calls polls for Oct 27

Japan’s incoming prime minister, Shigeru Ishiba, said yesterday he will call a general election for October 27 following his victory in one of the closest ever leadership races for the ruling Liberal Democratic Party.

The poll, which will come a year early and ahead of the US presidential election in November, will decide which party controls parliament’s lower house. Lawmakers there will meet today to confirm him as the country’s next prime minister.

“It is important for the new administration to be judged by the people as soon as possible,” Ishiba said at a press conference at LDP headquarters in Tokyo.

Japanese shares fell more than 4 percent in early trading yesterday as the yen strengthened and Japanese government bonds jumped in reaction to the leadership win by Ishiba, who is seen as a monetary policy hawk.

Ishiba yesterday began picking government and party officials who will contest the upcoming polls with him.

So far those include two rival candidates in the leadership race, Katsunobu Kato as finance minister and Yoshimasa Hayashi to stay on as chief cabinet secretary, a pivotal post that includes the role of top government spokesman, two sources familiar with the appointments earlier told Reuters.

A close Ishiba ally, Takeshi Iwaya, a former defence chief, will take over as foreign minister, while Gen Nakatani will return to the defence ministry, a position he held in 2016, said the sources, who asked not to be identified because they are not authorized to speak to the media, confirming earlier media reports.

Yoji Muto, a former junior minister, will take charge at the economy, trade and industry ministry, a separate source said. Not included in his picks, however, is Sanae Takaichi, the hardline conservative he beat by 215 votes to 194 on Friday in the closest leadership election in almost seven decades.