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Summary
Japanese Democratic leader and the nation's next Prime Minister Yukio Hatoyama thanked supporters and voters live on national television for what he called a historic victory. I would like to thank the people of Japan today for their brave decision in demanding a change regime, Hatoyama said at a news conference. The win by the Democratic Party of Japan (DPJ) ended a half-century of almost unbroken rule by the Liberal Democratic Party (LDP) and breaks a deadlock in parliament, ushering in a government that has promised to focus spending on consumers, cut wasteful budget outlays and reduce the power of bureaucrats. Hatoyama, the wealthy grandson of a former prime minister, is expected to name a transition team on Monday to prepare to take power. Japans prime minister Taro Aso has resigned as party chief of LDP in the wake of the crushing defeat.
