Shigeru Ishiba Resigns As Japan's Prime Minister: Who Will Replace Him? Meet Top Contenders In The Race

(MENAFN- Live Mint) Bowing to mounting pressure within the ruling Liberal Democratic Party after a string of election defeats, Japanese Prime Minister Shigeru Ishiba announced on Sunday that he will resign.

Ishiba's resignation will trigger a leadership race in his Liberal Democratic Party, with the winner facing a parliament vote to become prime minister.

From Sanae Takaichi, to former Japan PM and Opposition leader Yoshihiko Noda, here's a list of all the contenders who are likely to throw their hats into the ring.

1. Sanae Takaichi

Japan will have its first female prime minister if Sanae Takaichi wins the parliament vote. Aged 64-years old, Takaichi is a LDP heavyweight who has held a variety of roles, including economic security and internal affairs minister.

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Takaichi also lost to Shigeru Ishiba in the LDP leadership race in a run-off vote last year.

Takaichi stands out for her vocal opposition to the Bank of Japan's interest rate hikes and her calls to ramp up spending to boost the fragile economy.

2. Shinjiro Koizumi

Heir to Japan's most famous political dynasty, Koizumi could become the country's youngest modern-era leader.

A Columbia University graduate, Koizumi stayed close to Shigeru Ishiba as his agriculture minister, overseeing a widely publicised attempt to curb soaring rice prices, as per Reuters.

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He reportedly also faced ridicule in 2019 for remarks that climate policy needed to be "cool" and "sexy".

3. Yoshimasa Hayashi

The current chief cabinet secretary and one of Japan's most seasoned administrators, Hayashi has stepped in across defence, foreign affairs, and agriculture whenever crisis hit. Harvard-educated and fluent in English, he's seen as a safe pair of hands. Unlike rivals, he champions keeping the Bank of Japan independent and steady.

The following leaders could contest for Shigeru Ishiba's post from the opposition:

4. Yoshihiko Noda

Former Prime Minister Noda is the leader of the biggest opposition group, the centre-left Constitutional Democrats.

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He helped push through Japan's consumption tax hike to 10% – earning his reputation as fiscal hawk – but more recently has argued for temporary food tax cuts and a sharper exit from BOJ's massive stimulus program.

Opposition party– Constitutional Democratic Party of Japan:

5. Yuichiro Tamaki

A former finance ministry bureaucrat, Tamaki co-founded the Democratic Party for the People in 2018 and advocates increasing people's take-home pay by expanding tax exemptions and slashing the consumption tax.

Opposition party – Democratic Party for the People

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