Japan announced Thursday that it will nominate its top currency official, Takehiko Nakao, to head the Asian Development Bank as Haruhiko Kuroda prepares to step down to lead the Bank of Japan.
Nakao has "extensive experience in international finance and development," Finance Minister Taro Aso said in a statement in Tokyo. The vice finance minister is "the most qualified candidate," he said.
Aso didn't say who would replace Nakao. The previous two appointments resulted from promoting the head of the ministry's International Bureau, who is currently Tatsuo Yamasaki, 55.