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Noda Elected Japan's New Prime Minister

Yoshihiko Noda
Japan's parliament has elected former Finance Minister Yoshihiko Noda as the country's new prime minister.

He will be the sixth prime minister in five years for Japan, the world's third-biggest economy.

Both houses of parliament backed him as prime minister after the ruling Democratic Party of Japan elected him as party leader.

Noda, seen as a fiscal conservative, will face a host of daunting problems, including the post-tsunami recovery, a nuclear crisis, a sluggish economy, and the yen's surge.

He succeeds Naoto Kan, who officially resigned earlier today with his cabinet after just 15 months in office.

compiled from agency reports