Naoto Kan was named the new prime minister of Japan on June 8 following the resignation of Yukio Hatoyama last week because of failed election promises. Kan also replaced Hatoyama as head of the Democratic Party of Japan. Shortly after assuming office, the new prime minister promised to cut the country’s debt, improve welfare and revive Japan’s faltering economy.

Prior to his designation as prime minister, Kan served as Japan’s finance minister. He has appointed Yoshihiko Noda to take over his previous post. Kan retained Katsuya Okada as foreign minister.

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  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.