Word: hatoyamas
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...first hours as Japan's new ruling party, the Democratic Party of Japan (DPJ) and its leader Yukio Hatoyama wasted no time preparing for a transition of government. In the historic Aug. 30 general election, the Japanese people - about 70% of eligible voters cast ballots - ended a half-century of nearly unbroken rule by the Liberal Democratic Party (LDP). Hatoyama's party took 308 of the 480 seats in the House of Representatives, 12 seats shy of a two-thirds majority that would have allowed the party to single-handedly pass bills rejected by the upper house...
...September, the DPJ will take over as the official ruling party, with the Diet's election of Hatoyama as Prime Minister and the appointment of ministers. That leaves 100 days for the new administration to draft a budget for the next fiscal year that doesn't increase the national deficit - now at 180% of GDP - but still holds to its costly election-year pledges. If the national budget is not prepared by the end of the year, the green shoots of economic growth could...
...Hatoyama spoke only briefly with reporters on Monday before huddling with his party leaders...
...Official results were still being counted, but exit polls by all major media said Hatoyama's Democratic Party of Japan had won more than 300 of the 480 seats in the lower house of parliament. That would easily be enough to ensure that he is installed as prime minister in a special session of parliament that is expected to be held in mid-September...
...Party leader Yukio Hatoyama, set to become Japan's next prime minister, has been vocal about distancing the country from Washington and forging closer ties with its Asian neighbors...