Japan's new PM may pick Cabinet next week

JAPAN: Japan's incoming prime minister, Yukio Hatoyama, may delay choosing his cabinet until a meeting of party lawmakers next week on the advice of a party heavyweight known for behind-the-scenes manoeuvres, media said on Friday.

Following a landslide election victory by his Democratic Party of Japan on Aug. 30, Hatoyama initially said he would announce his ministerial lineup after officially being voted in as prime minister by parliament on Sept. 16.

But he later confirmed he had chosen party executive Naoto Kan for a key position as head of a new National Strategy Bureau, and Katsuya Okada, his rival in the last party leadership race, as foreign minister. Media speculated that the remaining appointments would be wrapped up by the end of the week.

One key post closely watched by financial markets is that of finance minister, who is crucial in shaping the government's stance on currency rates and its relations with the central bank.

Hirohisa Fujii, 77, has been seen as front runner for the post, which he held briefly in the 1990s, but reports on Friday said that appointment and others could be held over until next week on the advice of party No.2 Ichiro Ozawa. TOKYO, Friday, Reuters