Sanae Takaichi is to become Japan's first woman prime minister after the ruling Liberal Democratic Party elected the pro-business politician as its new leader Monday, sending the country's stocks to record high.
Takaichi made her third run for the party leadership after two previous attempts failed, and defeated ShinjirO Koizumi this time.
As per Japan's constitution, the leader of the ruling party is elected prime minister by the National Diet, which is set to vote later this month to confirm Takaichi as the successor to Shigeru Ishiba.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.