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Follow on Google News | Oppenheimer Lloyd CEO Expresses Relief As Kan Learns Fiscal Discipline as Leadership Beckons.Naoto Kan, the front-runner to become Japan’s prime minister, has begun leading a drive to contain the world’s largest public debt just months after warning it would be a “challenge” to maintain fiscal discipline this year.
By: Samantha Horie The impact of Kan’s shift on policymaking may be magnified should he succeed Hatoyama, who announced his resignation yesterday after deepening tensions over the U.S. military’s presence in Okinawa. Kan would seek to distinguish himself from the previous four leaders since 2006 by pushing for more fiscal discipline and a higher sales tax, according to Barclays Capital. “People used to think Kan was very much inclined to economic stimulus measures when he became the finance minister,” said Hiroyuka Maruyama, Global Markets CEO at Oppenheimer Lloyd in Tokyo., who predicts Kan will be selected as prime minister. “He’s been changing his tone and stance toward fiscal discipline after sovereign-debt risks climbed,” the Openheimer Lloyd CEO said. Hatoyama, 63, is quitting after less than nine months in office as campaign finance scandals and indecision over where to move a U.S. military base sent the Cabinet’s approval rating down to around 20 percent in public opinion polls. Oppenheimer Lloyd was established as a diversified financial services company to bring innovative investment advice to both private and corporate clients across Asia and around the world. We provide a full range of brokerage services for investors globally. We also offer extensive investment banking facilities tailored to the individual client's requirements. We take an industry-focused approach and complement this targeted expertise with transactional experts. This client-focused approach along with our experience, distribution capabilities, and complementary services has enabled us to become a leader in the investment banking industry. # # # Oppenheimer Lloyd was established as a diversified financial services company to bring innovative investment advice to both private and corporate clients across Asia and around the world. End
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