New Leadership in Japan: Ishiba to Appoint Kato as Finance Minister

Shigeru Ishiba, Japan's incoming prime minister, is set to appoint Katsunobu Kato as the next finance minister. Ishiba will form his cabinet next week and retain Yoshimasa Hayashi as chief cabinet secretary. The appointments come after Ishiba's victory in the ruling Liberal Democratic Party's leadership race.

Shigeru Ishiba, Japan's incoming prime minister, is set to name Katsunobu Kato as the next finance minister, according to a report by Kyodo News agency. The cabinet formation is expected next week.

Ishiba also plans to retain Yoshimasa Hayashi as chief cabinet secretary, according to sources familiar with the matter. Hayashi has held the crucial role since December under the outgoing Prime Minister Fumio Kishida.

These appointments follow Ishiba's win in the Liberal Democratic Party's leadership race. Ishiba aims to form his new government on Tuesday after securing a majority vote in the lower house of parliament.

(With inputs from agencies.)