Japan PM is a Thatcher fan who wants to be 'Iron Lady'

Hardline conservative Sanae Takaichi was chosen as Japan's first female prime minister yesterday, shattering the political glass ceiling and setting the country up for a decisive turn to the right.

- STUTI MISHRA

An acolyte of assassinated Shinzo Abe and an admirer of Margaret Thatcher, her victory marks a pivotal moment for a country where men still hold overwhelming sway. She inherits an economy saddled with slow growth and rising prices, and anticipation of stimulus measures saw Japan's stock market hit a record high.

Ms Takaichi won 237 votes in the 465-seat lower house, securing her position as Japan's 104th prime minister after a coalition deal between her ruling Liberal Democratic Party (LDP) and the right-wing Japan Innovation Party (Ishin). She was later approved by the upper house and sworn in.

Ms Takaichi, a heavy metal drummer, comes from the same hardline LDP faction as Abe and is expected to pursue the same mix of high government spending and easy monetary policy that once fuelled his “Abenomics” agenda.

The Nikkei 225 index responded by inching close to the never-broken 50,000 mark before lunch yesterday after a second straight day of record gains, while the broader Topix index reached a record high. The yen weakened to about ¥151 per US dollar, boosting exporters such as Toyota and Sony.