Factbox: Five facts about Japan finmin contender Noda

TOKYO (BestGrowthStock) – Japanese Deputy Finance Minister Yoshihiko Noda, who favors fiscal discipline and has supported the idea of capping new bond issuance for next year, may succeed Naoto Kan as finance minister after Kan was appointed prime minister, the Yomiuri newspaper said on its website on Friday.

Noda, 53, has been mostly in charge of international finance and has occasionally attended overseas meetings on behalf of the finance minister.

Here are key facts about Noda’s policy stance:

— Noda has supported Kan’s call to limit new bond issuance in the fiscal year starting next April at the record 44.3 trillion yen ($479 billion) allotted for the current fiscal year’s budget.

— Noda has also stressed that while the nature of Greece’s debt crisis is different from the situation with Japan’s public finances, it is still a sign that Japan needs to lower its debt burden.

— Noda brushed off speculation of currency intervention when the yen jumped to a 14-year high against the dollar in November.

— Noda has attended the Bank of Japan’s monetary policy meetings four times since he became vice finance minister in September, where he has asked for the central bank’s cooperation to end deflation and explained the government’s economic policies.

— Noda started in regional politics in 1993, joined the Democrats a decade ago and has served as the party’s shadow finance minister as well as head of parliamentary affairs.

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(Reporting by Stanley White)

Factbox: Five facts about Japan finmin contender Noda