Prime Minister Shigeru Ishiba has nominated a former Mitsubishi Corp. executive to join the Bank of Japan’s board at the end of June, offering a new voice at the central bank as it navigates intensified uncertainty as U.S. President Donald Trump’s tariff campaign continues to evolve.
The government tapped the 66-year-old Kazuyuki Masu as Ishiba’s second selection for one of nine seats on the BOJ board, according to a document released to reporters in parliament in Tokyo on Thursday. Masu would replace Toyoaki Nakamura, a former Hitachi executive, whose five-year term ends on June 30.
The nomination comes after Trump’s volatile back and forth on tariffs, creating risks for Japan’s already modest economic recovery. BOJ Gov. Kazuo Ueda has been intent on normalizing policy settings after ending the world’s last negative rate policy in March 2024. BOJ watchers are now questioning if Ueda will be able to raise interest rates again this year. Ahead of the tariff announcements, some had forecast a hike as soon as the next policy decision on May 1.
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