Sanae Takaichi on Tuesday created history, winning Japan’s parliamentary vote to become the country’s first woman prime minister, with domestic stock markets cheering her ascendancy.
Takaichi garnered 237 votes in the first round of voting, negating the need for a runoff vote in the 465-seat Lower House, according to public broadcaster NHK.
Her victory comes after the ruling Liberal Democratic Party allied with the Japan Innovation Party and reportedly signed an agreement over the weekend to form a coalition government.
Takaichi agreed to back JIP policies such as a reduction in parliamentary seats, free high school education and a two-year pause on food consumption tax, according to Reuters.
Tobias Harris, founder and principal at risk advisory firm Japan Foresight, told CNBC’s “Squawk Box Asia” that the JIP might not want to take up a cabinet post, saying that “there’s a real risk joining a coalition with an LDP that is still seeing historically low approval ratings, [and] does not really have the trust of the public.”
