Japanese business leaders welcomed Prime Minister Fumio Kishida's Cabinet reshuffle on Wednesday for its diversity, saying the new lineup includes more women, also urging him to push forward measures to contain rising prices.

Masakazu Tokura, chairman of the Japan Business Federation, the country's most powerful business lobby, also known as Keidanren, said in a statement that he has "high expectations" for the "diverse lineup."

Kishida's appointment of a record-tying five women as ministers is part of the government's efforts to promote women's empowerment in politics.