Embattled Your Party on Friday formally appointed Secretary-General Keiichiro Asao as its new president after its image was tarnished by an ¥800 million money scandal involving founder Yoshimi Watanabe, who resigned.

Asao, who announced his candidacy Thursday, was endorsed by party members at an all-party meeting and replaced Watanabe without an election because nobody ran against him. Watanabe was not present at the meeting.

"Whether or not we can restore our party depends on if we can pursue what voters want us to do," Asao said after he was approved as party leader. "That is to push for reforms without any influence from vested interest groups."