Japan's parliament elected the ruling Liberal Democratic Party (LDP) leader Shigeru Ishiba as the country's 102rd prime minister on Tuesday, parliament announced. Ishiba, the winner of LDP presidential race last week, succeeded Fumio Kishida, who announced last month a decision to step down amid criticism over a political funds scandal involving the LDP. Ishiba is set to formally launch a new Cabinet after an attestation ceremony at the Imperial Palace later in the day. During LDP presidential campaign, the 67-year-old former defense minister has proposed the creation of an Asian version of the North Atlantic Treaty Organization (NATO) military alliance as part of efforts to enhance Japan's deterrence. Ishiba has also pledged to strive to revitalize regional economies. Ishiba, a veteran lawmaker, was born in Tokyo in 1957. He is known for his extensive knowledge of defense and security affairs. After graduating from Keio University, he worked for Mitsui Bank and entered the world of politics following death of his father Jiro, who served as the governor of Tottori Prefecture and the Minister of Home Affairs. Ishiba was first elected to the Lower House in 1986. He joined the Cabinet for the first time in 2002 as Defense Agency Director General. He then served as Defense Minister, as well as Agriculture, Forestry and Fisheries Minister. Source: Kuwait News Agency