Japan's incoming prime minister, Shigeru Ishiba, has indicated a commitment to continuity in his early selections for key government positions, signaling a preference for stability following a tumultuous leadership race. His choices for finance, defence, and foreign minister, along with the crucial role of chief cabinet secretary, seem to rely on experienced figures from the ruling Liberal Democratic Party (LDP) as he prepares to form his government on Tuesday.
Ishiba, 67, emerged victorious in the LDP leadership race on Friday, securing a run-off win after a contest involving an unusually large field of nine candidates. He is expected to appoint former Defence Minister Takeshi Iwaya as foreign minister and retain Yoshimasa Hayashi as chief cabinet secretary, a position that includes the role of top government spokesperson, according to sources.
Ishiba plans to nominate former Chief Cabinet Secretary Katsunobu Kato as finance minister and reappoint Gen Nakatani as defence minister, as reported by Japanese media. Ryosei Nakasawa, the deputy minister of finance, will take on the role of minister of economic revitalisation, according to the Yomiuri newspaper.
Ishiba is also set to appoint former prime minister Yoshihide Suga as vice-president of the LDP, while Japanese media suggest he will name Shinjiro Koizumi, a rival in the LDP race, as LDP election chief. Ishiba did not elaborate on his cabinet plans during a televised interview on Sunday but hinted at the possibility of a snap election in the near future, possibly as early as October. An election must be held within the next 13 months.
He emphasized that Japan's monetary policy should remain accommodative, indicating the necessity of maintaining low borrowing costs to support a fragile economic recovery. It remains unclear whether Ishiba, who has been a critic of the Bank of Japan's past aggressive monetary easing, is adopting a more dovish stance with his recent remarks.
Iwaya, who served as defence chief from 2018 to 2019, provided strategic support to Ishiba during his successful campaign to lead the LDP. Former soldier Nakatani would return to the defence post he held from 2014 to 2016.
