Analysts shrugged off any speculation Tuesday that Yasuo Fukuda's election as prime minister will have a major impact on the stock market because his Cabinet's economic policies are likely to be virtually the same as his predecessor's.
Ever since the Democratic Party of Japan stripped the Liberal Democratic Party-New Komeito ruling coalition of its majority in the House of Councilors in July, Fukuda has spoken of the need to address the widening wealth gap and support rural areas hit hard by fiscal reforms under previous governments.
But analysts say this does not mean the new Cabinet will make a return to the blatant use of temporary measures, such as public works projects, to boost rural economies that have grown dependent on them.