In a significant political shift, Japanese Prime Minister Fumio Kishida and his cabinet resigned collectively on Tuesday, marking the end of an era and setting the stage for a new administration.
Ishiba is set to helm world's fourth-largest economy in the face of a weakening yen, inflation, growing national debt and wage stagnation. The country has also to contend with increasing tensions in the Asia-Pacific, North Korea's nuclear ambitions and China's growing military threats.