Shigeru Ishiba is set to become Japan’s next prime minister after he won the leadership of the ruling Liberal Democratic Party (LDP) in a ballot of lawmakers and party members.
The vote follows a series of corruption scandals that led to the country’s former PM Fumio Kishida’s decision to not seek re-election. Ishiba had been a favorite to win amid the pool of nine candidates, as he had strong approval ratings.
Go deeper with GlobalData
Ishiba is part of the LDP but has become a dissenting voice in a party that has shifted further to the right in the past few decades. He has also been critical of the corruption that has fractured party cohesion, a sentiment that understandably resonated with voters.
One of Ishiba’s economic priorities is to revitalize Japan’s rural and outlying regions. Whether foreign investment can factor into this, remains to be seen.
He sparked some nerves with comments about wanting to form an Asian equivalent to NATO, although it has not been taken as a serious recommendation.
Regarding relations with the US, he told Reuters that he opposed a government blockage of the Nippon Steel takeover bid because of national security reasons.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“I find what the United States is saying [regarding Nippon Steel] to be very unsettling making such statements or actions that could undermine the trust of its allies. […] Recently the US is tending to impose deals and threats even on its allies, this is true not only with NATO countries but also now with Japan. I question whether that is really a fair approach.”
Given the decision to extend the review period of the deal, Ishiba will deal with the fallout with whoever wins the election in November.
