BREAKING NEWS

Japan finance minister Noda wins run-off vote for PM

By REUTERS

AUGUST 29, 2011 09:56

TOKYO - Finance Minister Yoshihiko Noda will become Japan's next prime minister after defeating Trade Minister Banri Kaieda in the ruling party leadership run-off vote on Monday.

Noda, who came second in the first round of voting, got 215 votes and Kaieda 177.

Noda is seen more likely than Kaieda to tackle Japan's massive public debt, which is double the size of the $5 trillion economy, and he has been financial markets' preferred candidate to succeed outgoing Prime Minister Naoto Kan.

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