Fumio Kishida set to become Japan’s new prime minister
Ruling party LDP chooses former foreign minister as new chief in a victory for the establishment
TOKYO : Japan's ruling Liberal Democratic Party (LDP) selected former foreign minister, Mr Fumio Kishida, as its new leader yesterday, a victory for the party's establishment that virtually ensures the soft-spoken veteran will become prime minister within days.
Although he enjoys only moderate popular support and is saddled with an image of being bland, Mr Kishida had critical backing from some party heavyweights, allowing him to stop the momentum of rising star Taro Kono, the popular minister in charge of the coronavirus vaccine roll-out.
It was not clear if Mr Kishida's image could spell problems for the LDP in a general election due by Nov 28.
He focused on populist issues - such as the need to forge a new kind of capitalism and ease divisions of wealth - in his first news conference.
"We can't achieve strong growth if wealth is concentrated in the hands of a small group of people," he said, calling for the need to create a virtuous circle of growth and wealth distribution. "We will strive to achieve economic growth and distribution" of wealth, he said.
He has proposed a spending package of more than 30 trillion yen (S$365 billion), and yesterday he said that stimulus must be compiled by the year-end.
The Hiroshima lawmaker succeeds the unpopular Prime Minister Yoshihide Suga, who did not seek re-election as party leader after just one year in office.
Mr Kishida is almost certain to become premier at a parliamentary session on Monday because of the LDP's majority in the Lower House.
He is expected to form a new Cabinet and reshuffle the LDP executive early next month.
Media, quoting LDP executives, reported that the lower chamber will likely be dissolved in mid-October with an election on either Nov 7 or Nov 14.
Mr Kishida stands for stability, for not rocking the boat and most importantly, doing what elite technocrats tell him to do," Mr Jesper Koll, expert director at Monex Group.
Mr Kishida is unlikely to usher in major policy shifts as Japan seeks to cope with an assertive China and revive an economy hit by the pandemic.
He shares a broad consensus on the need to boost Japan's defences and strengthen security ties with the United States and other partners including the Quad grouping of Japan, the US, Australia and India, while preserving vital economic ties with China. - REUTERS
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