TOKYO— Japan broke a significant political barrier on Tuesday as Sanae Takaichi was elected the country’s 104th Prime Minister, making her the nation's first female leader. Takaichi, 64, often dubbed the "Iron Lady" for her ultraconservative policies and admiration for Margaret Thatcher, secured 237 votes in the 465-seat Lower House following a key coalition deal.
The victory for Takaichi's Liberal Democratic Party (LDP) followed a late-stage agreement with the right-wing The Innovation Party, despite local media noting the LDP remains two seats short of an absolute majority. Her elevation is widely seen as a move by the LDP to adopt a more conservative stance after the party's historic Upper House election loss in July.
IR Industry to Benefit from PM's Support
Despite the shift in political ideology, Takaichi's appointment is a positive signal for Japan's nascent Integrated Resort (IR) industry. She was instrumental in the sector’s creation, having been the LDP member who originally submitted a bill to parliament in 2013 calling for the legalization of casinos. She also helped secure the necessary sign-off from then-partner, New Komeito.
Integrated resorts: Japan’s axis of future growth.
The central government, according to local reports, is now preparing a second round of IR license applications. Under the IR Promotion Bill, up to two more licenses could be issued by 2027, with several municipalities in Hokkaido reportedly expressing interest. The first round saw only one license issued, with MGM Resorts having already broken ground on its massive US$10 billion IR development in Osaka
However, the new Prime Minister has pledged a tough stance on illicit online activity. Ahead of a March meeting with the Cabinet First Subcommittee and the Public Safety Committee, she stated that "Online casinos are not only a source of funding for anonymous, mobile criminal groups, but they are also a major drain on Japanese wealth overseas, which is something we cannot overlook." Takaichi urged prompt measures to eliminate advertisements for online casinos and stop the spread of addiction.
