Prime Minister Taro Aso welcomed Democratic President-elect Barack Obama's victory and vowed Wednesday to work with him to strengthen Japanese-U.S. relations, stressing in a statement that the two nations will cooperate to find solutions to various problems related to the global economy, terrorism and the environment.

"Japan and the U.S. share values of freedom, democracy, respect for fundamental human rights and the advancement of the market economy," Aso said in the statement. "The Japan-U.S. alliance is the standard of Japan's diplomacy and the foundation of peace and stability in the Asia-Pacific region."

Opposition parties, meanwhile, welcomed Obama and his Democratic Party's win.

Democratic Party of Japan Secretary General Yukio Hatoyama said Obama's victory reflects the American people's "hope for change" from the current administration of President George W. Bush.

"Japan has yet to realize a two-party system and a power change," Hatoyama said. "I am hoping the people of Japan will feel the need for change and view the U.S. as a model for a change in government power at a time when the public harbors deep dissatisfaction and anxiety" toward the government.