Overview
- Takaichi secured the premiership in a single-round vote of the lower house and will be formally appointed after an audience with Emperor Naruhito later today.
- The Liberal Democratic Party signed a coalition agreement with the Japan Innovation Party on Oct. 20, giving the bloc 231 seats, two shy of the 233 needed for an outright majority.
- Tokyo stocks surged more than 3%, pushing the Nikkei above 49,000 to a record on expectations of government stability and proactive fiscal policy.
- To win Ishin’s support, the PLD agreed to consider proposals including zero consumption tax on food and a reduction in the number of parliamentary seats, according to Japanese media.
- The new leadership faces urgent economic headwinds and a visit next week by U.S. President Donald Trump, who is pressing Tokyo on Russian energy imports and defense commitments.