TOKYO (MNI) – Japan’s Prime Minister Naoto Kan, as expected, on
Friday announced his resignation, about three months after he indicated
he would do so after the passage of three major bills in Diet.
They are the second extra budget this fiscal year, a bill to allow
the government to issue deficit-covering bonds to secure about 40% of
the revenue needed for this fiscal year’s initial budget and a bill to
promote the use of renewable energy.
The Democratic Party of Japan’s election to select a successor to
Kan will be held Monday, with only its 398 lawmakers will be eligible to
vote.
At least four lawmakers, a record number since the party was formed
in 1998, including former Foreign Minister Seiji Maehara and current
Finance Minister Yoshihiko Noda, will likely file their candidacies when
campaigning officially begins on Saturday.
The new prime minister will form the new Cabinet afterward.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4833 **
[TOPICS: M$A$$$,M$J$$$,MMJBJ$,MGJ$$$,MT$$$$]
