Kishida came out on top in the leadership contest after receiving the influential backing of party grandees such as Shinzo Abe, prime minister from 2012-2020, and long-serving Finance Minister Taro Aso. Their view was that the veteran party man represented stability and continuity, compared with the popular but less conservative Taro Kono. Yet when Kishida was confirmed as the successor last week, Japan’s benchmark Topix index fell by 2.1%, having hit 30-year highs immediately after it was confirmed that the outgoing prime minister, Yoshihide Suga, was resigning. That may have reflected a degree of disappointment from investors that Kishida was chosen …
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