Ishiba Elected Prime Minister by Japanese Parliament

Forex - In Japan, Prime Minister Shigeru Ishiba has been appointed to remain as Japan's leader by parliament, despite the Liberal Democratic Party losing its single majority in the House of Representatives during the early general elections last month. He will now lead a minority government.

Both the upper and lower chambers of parliament voted to appoint him as prime minister. The LDP and its coalition partner Komeito did not win enough seats to secure a majority in the elections on October 27; however, the opposition parties were also unable to unite to form a government.

Ishiba surpassed the leader of the largest opposition party, the Constitutional Democratic Party, Yoshihiko Noda, in the second round of voting held in the House of Representatives after no party leader achieved a majority in the first ballot. Opposition parties such as Nippon Ishin and the Democratic Party for the People (DPFP) had declared they would not vote for either of the two largest parties.

Members of the upper house, the House of Councillors, conducted a separate vote and elected Ishiba in the initial round.