The Japanese Lower House of Parliament approved the appointment of Yoshihide Suga as the new Prime Minister. Roughly half of Shinzo Abe’s ministers remained in Suga’s cabinet. Taro Aso remains as Finance Minister and Toshimitsu Motegi kept his job as Foreign Minister. Also, Yasutoshi Nishimura stays as Economy Minister while Trade and Industry Minister Hiroshi Kajiyama also retains his post.
The signals are clear that Suga is going to continue with Abenomics and presses ahead with the reforms. Though, a new term “Suganomics” emerged as eventually, Suga is going to make is own marks, as least in some of the policy mix.