STORY: Japan’s incoming prime minister, Shigeru Ishiba, said Monday (September 30) he's calling a snap general election on Oct. 27.He just won a close leadership race to become head of the ruling Liberal Democratic Party.

Stocks in Japan fell sharply on Monday after the country’s governing party chose a leader some view as hawkish on interest rates, underlining how central bank decisions continue to set the course of the world’s fourth-largest economy after decades of easy money policy.

Ishiba’s election marks a significant further shift in official Japanese politics toward remilitarization and preparations for war against China.

Japan’s incoming Prime Minister Shigeru Ishiba said he would call a snap election on Oct. 27, a year ahead of schedule, days after winning the ruling Liberal Democratic Party’s leadership contest. “ I believe it’s important for the new administration to be judged by the people as soon as possible,” he said at a press conference.

Shigeru Ishiba, right, with Japan’s Prime Minister Fumio Kishida, left, and other candidates, celebrates after Ishiba was elected as new head of Japan’s ruling Liberal Democratic Party during its leadership election Friday, Sept. 27, 2024, in Tokyo. (AP Photo/Hiro Komae, Pool)

Japan's incoming prime minister, Shigeru Ishiba, said on Monday he will call a general election for Oct. 27 following his victory in one of the closest ever leadership races for the ruling Liberal Democratic Party.

The person chosen to lead Japan’s governing party, and become prime minister next week, is a veteran politician with deep policy experience, a taste for curry and anime — and big challenges ahead of h

Japan’s new leader, Shigeru Ishiba, said he would call a national election on Oct. 27, assuming he is confirmed as Japan’s new prime minister on Tuesday, taking advantage of a positive public reaction to his victory in last week’s ruling Liberal Democratic Party leadership election.