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Japan's ousted ruling party names new leader; conservatives set to take over

Japan's ousted ruling party named a new leader to replace Prime Minister Yoshihiko Noda as its chief. The move comes ahead of a vote in parliament to install a new government led by the conservative party that governed Japan for most of the post-WWII era.

The Democratic Party of Japan's new chief is Banri Kaieda, a former trade minister. He vowed Tuesday to keep the party from collapsing after its stinging defeat in nationwide elections Dec. 16 won the conservative Liberal Democratic Party, headed by Shinzo Abe.

Abe, who led Japan from 2006-2007, was to be formally installed as prime minister on Wednesday.

The LDP governed Japan for decades after it was founded in 1955, but has been the top opposition party since 2009 elections won by the DPJ.