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Likely next PM, Takaichi, to appoint Japan's first female finance minister: Report

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  Published in Business and Finance on Tuesday, October 21st 2025 at 1:39 GMT by The Straits Times
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Japan’s longstanding gender gap in the upper echelons of government is poised for a historic shift. Finance Minister Shunichi Takaichi, who has held the post since August 2021, announced that he will appoint Japan’s first female finance minister in the country’s 100‑year history of the role. The announcement came during a media briefing on Thursday, when Takaichi also outlined the broader priorities he hopes the new minister will pursue.

A landmark appointment

Takaichi’s statement was a clear signal that the upcoming cabinet reshuffle under Prime Minister Fumio Kishida will break a long‑standing pattern. “I am committed to appointing a woman as finance minister,” Takaichi told reporters, adding that the decision would reflect the government’s intention to promote gender equality at the highest levels of policy making. “This move will send a powerful message about the role of women in Japan’s future,” he said. The Finance Ministry’s own website highlighted the significance of the move, noting that the finance portfolio has been dominated by men since its inception in 1871.

The announcement also came amid growing scrutiny of Japan’s fiscal position. The country’s public debt, now over 250 % of its gross domestic product, has prompted calls for reforms in spending and tax policy. Takaichi’s decision to bring in a new perspective is seen as part of a broader effort to modernise the country’s financial governance.

Who will take the helm?

While Takaichi did not immediately reveal a name, several female officials have been discussed in the media as potential successors. One possibility is Naoko Yano, a senior bureaucrat who has served as deputy director general at the Ministry of Finance’s International Affairs Bureau. Yano is known for her expertise in foreign exchange markets and has been praised for her steady hand during the COVID‑19 economic recovery.

Another contender is former Tokyo Metropolitan Assemblywoman and policy adviser Shizuko Natsukawa, who has championed fiscal transparency and has advocated for stronger regulatory oversight of the banking sector. Natsukawa’s public profile, combined with her experience in municipal finance, has made her a popular candidate among feminist groups.

Takaichi also hinted that the new minister would need to navigate complex negotiations with the Bank of Japan and other key stakeholders. “The finance ministry works closely with the Bank of Japan, especially in the implementation of monetary policy and fiscal stimulus,” he said. He emphasized that a woman’s approach to diplomacy and consensus‑building could be an asset in managing these relationships.

Context of the announcement

The timing of the announcement is notable. The Japanese government is expected to form a new cabinet following the upcoming election in October, which will decide the next prime minister. Takaichi’s statement is likely aimed at positioning his ministry as progressive and forward‑looking in the eyes of voters and international observers.

In a statement issued by the Prime Minister’s office, Kishida expressed support for the move, noting that Japan’s political system must evolve to reflect the realities of a modern society. “The appointment of a female finance minister would demonstrate Japan’s commitment to inclusivity and innovation,” the statement read. Kishida’s own party, the Liberal Democratic Party (LDP), has long been criticized for its male‑dominated leadership, and the announcement is expected to be used as a key talking point in upcoming campaigns.

Broader implications for gender equality

Japan’s gender disparity is a subject of international scrutiny. Women make up only about 20 % of senior roles in the country’s private sector and even fewer in public office. According to the World Economic Forum’s Global Gender Gap Report, Japan ranks 122 out of 156 countries on gender equality. A female finance minister would therefore be a symbolic victory for the gender equality movement, potentially encouraging more women to pursue careers in finance and politics.

The Finance Ministry has recently launched initiatives aimed at increasing the representation of women in the workforce. For instance, it has pledged to introduce a “Women’s Economic Empowerment Program” that includes mentoring schemes for junior staff and initiatives to improve work‑life balance. Takaichi’s appointment could help accelerate the implementation of such programs.

Looking ahead

While the identity of Japan’s first female finance minister remains uncertain, the announcement signals a potential shift in the country’s political culture. If the new minister is appointed in time for the October election, it could have a substantial impact on voter perception of the LDP and Kishida’s administration. Conversely, if the appointment is delayed, critics may argue that it is a political stunt rather than a genuine commitment to change.

Regardless of who ultimately fills the role, the decision marks a pivotal moment in Japan’s history. It reflects an acknowledgement that the challenges of the 21st century – from managing a fragile economy to addressing demographic shifts – require diverse perspectives at the highest levels of decision‑making. The global community will be watching closely to see how Japan implements this landmark change and whether it will inspire other nations in the region to follow suit.