Japanese Prime Minister Shinzo Abe is set to win control of both houses of parliament, giving his Liberal Democratic Party-led coalition the strongest grip on power since 2007. Winning the election will be the easy part.
Japan’s Prime Minister-elect Naoto Kan appointed Yukio Edano as his party’s No. 2 official, further distancing himself from the political powerbroker whose funding scandals helped bring down the previous administration.
Japan’s ruling party will determine today whether Prime Minister Naoto Kan stays in office or is replaced by Ichiro Ozawa , whose call to boost spending to spur economic growth has roiled the bond market.
Japanese Prime Minister Yoshihiko Noda’s biggest step yet toward winning a sales tax increase aimed at reining in the nation’s public debt came at the cost of alienating one-fifth of his party’s lower house lawmakers.