Japan's Prime Minister-Elect, Naoto Kan, has picked Yoshihiko Noda as his Finance Minister, Kyodo news agency said on Saturday. Noda, formerly Deputy Finance Minister, would be welcomed by the bond market because he favors fiscal discipline and has supported the idea of capping new debt issuance for next year. Satoshi Arai, an aide to outgoing Prime Minister Yukio Hatoyama, who is also said to be close to Kan, has been tapped for National Strategy Minister, Kyodo said.
