The Japanese government said Wednesday it will provide a total of $10 billion in financial support to other Asian nations to help them secure crude oil supplies as prices soar amid the Middle East conflict, aiming to ensure that petroleum-derived products made in those countries keep flowing into Japan.

The aid, announced by Prime Minister Sanae Takaichi following an online meeting with her counterparts mainly from the Association of Southeast Asian Nations, is aimed at beefing up energy supply chains across the region, such as through loans for procuring crude oil and petroleum products, as well as expansion of stockpiles.

“Japan is closely interconnected with each Asian country through supply chains and mutually dependent with them,” Takaichi told reporters, adding that oil shortages or supply disruptions in Asia could have a “significant negative impact” on her nation’s economy and society.

The planned financial aid is equivalent to up to 1.2 billion barrels — about one year of crude oil imports by ASEAN countries, she said.

Japan imports petroleum-derived products from Southeast Asia, including items used at medical facilities. Many countries in the region maintain limited oil reserves, so there have been concerns that supply shortages could eventually affect shipments to Japan.

The surge in oil prices on the back of the war that led to a blockade of the Strait of Hormuz, a key waterway for global energy transportation, has raised concerns in some Southeast Asian countries over their ability to pay for imports.

Tokyo aims to address the risks through financial support, including loans via the government-backed Japan Bank for International Cooperation, according to government sources.

The Japanese prime minister emphasized that the latest supportive scheme does not include direct crude oil provisions from Japan’s reserves and therefore will not negatively affect domestic supplies.

Given its high dependence on the Middle East for crude oil imports, Japan keeps abundant oil stockpiles in the country.

Among the nations that joined the Japan-led virtual gathering were the Philippines, Malaysia, Singapore, Thailand, Vietnam, East Timor, Bangladesh and South Korea. (Kyodo)

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Japan’s conservative Prime Minister Sanae Takaichi swept to a landslide victory in a snap election on Sunday, marking a historic turnaround for her party, which had been hemorrhaging voter support in recent years — until she stepped to the helm.

Since she was elected more than four months ago – becoming Japan’s first female leader in a country where men have long dominated politics – Takaichi has enjoyed high approval ratings and a glowing endorsement from US President Donald Trump.

She won over many voters with her notoriously strong work ethic, savvy social media game and charisma, marked in viral moments such as a recent impromptu drum session with South Korean President Lee Jae-myung – stoking public enthusiasm to levels not seen since former Prime Minister Shinzo Abe.

It was a gamble to call a snap election. But Takaichi hoped to translate her own popularity into a stronger mandate for her Liberal Democratic Party (LDP) – which has been weakened in recent years by a scandal involving the misuse of political funds.

Her risky move paid off. The LDP won more than 310 of the 465 seats in Japan’s lower house of parliament, marking the first time since World War II that a single party has secured a two-thirds majority. The broader ruling coalition won more than 340 seats.

Crucially, the two-thirds supermajority in the lower house will allow Takaichi’s party to override votes in the upper house of parliament and to propose amendments to the constitution.

Putting her leadership on the line

Takaichi, a longtime lawmaker, rose to the top of Japanese politics last fall after her predecessor, Shigeru Ishiba, resigned amid pressure from his own party following a series of bruising defeats for the LDP.

She won the LDP presidency on October 4, her third attempt at the job, and was elected prime minister on October 21 – a surprising triumph in Japan’s deeply patriarchal political system.

Her decision to dissolve parliament three months later, she said in a January 19 press conference, was a “profoundly weighty decision,” adding that “by doing so, I am also putting my position as prime minister on the line.”

Takaichi has enjoyed unusually high approval ratings during her short tenure, in which she has made waves for her relaxed, friendly interactions with other world leaders.

During a meeting with the US president just one week into her term, Trump and Takaichi looked more like old friends than world leaders.

“She is a delight,” Trump told business leaders after they met. “I got to know her pretty well in a short period of time.”

Days before the election, Trump gave his “total endorsement” of Takaichi, writing in a post to Truth Social that she “has already proven to be a strong, powerful, and wise Leader, and one that truly loves her Country.” He added he plans to welcome Takaichi to Washington in March.

Trump also enjoyed a close bond with Takaichi’s mentor, former Prime Minister Shinzo Abe who was assassinated in July 2022.

Takaichi’s decisive leadership style and support for traditional values have drawn comparisons to Margaret Thatcher, whom she cites as inspiration.

But it hasn’t all been sunny for Japan’s first woman leader. She has been scrutinized for her relentless work schedule, which included calling a 3 a.m. meeting with aides.

Comments she made about Taiwan, the democratic island claimed by China, also cratered Tokyo’s relationship with Beijing.

Takaichi broke Japan’s long tradition of ambiguity on Taiwan when she told parliament in November that a Chinese attack on the island – which lies just 60 miles (97 kilometers) from Japanese territory – could trigger a military response from Tokyo. (CNN)

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Japan’s parliament elected ultraconservative Sanae Takaichi as the country’s first female prime minister Tuesday, a day after her struggling party struck a coalition deal with a new partner expected to pull her governing bloc further to the right.

Takaichi replaces Shigeru Ishiba, ending a three-month political vacuum and wrangling since the Liberal Democratic Party’s disastrous election loss in July.

Ishiba, who lasted only one year as prime minister, resigned with his Cabinet earlier in the day, paving the way for his successor.

Takaichi won 237 votes — four more than a majority — compared to 149 won by Yoshikoko Noda, head of the largest opposition party, the Constitutional Democratic Party of Japan, in the lower house, which elects the prime minister.

The LDP’s off-the-cuff alliance with the Osaka-based rightwing Japan Innovation Party, or Ishin no Kai, ensured her premiership because the opposition is not united. Takaichi’s untested alliance is still short of a majority in both houses of parliament and will need to court other opposition groups to pass any legislation – a risk that could make her government unstable and short-lived.

“Political stability is essential right now,” Takaichi said at Monday’s signing ceremony with the JIP leader and Osaka Gov. Hirofumi Yoshimura. “Without stability, we cannot push measures for a strong economy or diplomacy.”

The two parties signed a coalition agreement on policies underscoring Takaichi’s hawkish and nationalistic views.

Their last-minute deal came after the Liberal Democrats lost its longtime partner, the Buddhist-backed Komeito, which has a more dovish and centrist stance. The breakup threatened a change of power for the LDP, which has governed Japan almost uninterrupted for decades.

Later in the day, Takaichi, 64, will present a Cabinet with a number of allies of LDP’s most powerful kingmaker, Taro Aso, and others who backed her in the party leadership vote.

JIP will not hold ministerial posts in Takaichi’s Cabinet until his party is confident about its partnership with the LDP, Yoshimura said.

Takaichi is running on deadline — a major policy speech later this week, talks with U.S. President Donald Trump and regional summits. She needs to quickly tackle rising prices and compile economy-boosting measures by late December to address public frustration.

While she is the first woman serving as Japan’s prime minister, she is in no rush to promote gender equality or diversity.

Takaichi is among Japanese politicians who have stonewalled measures for women’s advancement. Takaichi supports the imperial family’s male-only succession and opposes same-sex marriage and allowing separate surnames for married couples.

A protege of assassinated former Prime Minister Shinzo Abe, Takaichi is expected to emulate his policies including stronger military and economy, as well as revising Japan’s pacifist constitution. With a potentially weak grip on power, it’s unknown how much Takaichi would be able to achieve.

When Komeito left the governing coalition, it cited the LDP’s lax response to slush fund scandals that led to their consecutive election defeats.

The centrist party also raised concern about Takaichi’s revisionist view of Japan’s wartime past and her regular prayers at Yasukuni Shrine despite protests from Beijing and Seoul that see the visits as lack of remorse about Japanese aggression, as well as her recent xenophobic remarks.

Takaichi has toned down her hawkish rhetorics. On Friday, she sent a religious ornament instead of going to Yasukuni. (AP)

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