Japan's incoming PM Shigeru Ishiba willing to consider a snap election on Oct 27

Japan's incoming Prime MinisterShigeruIshibasuggested on Sunday (Sep29) thathe was willing to consider a snap election in the near future, on October 27.Ishiba, 67, won the Liberal Democratic Party's (LDP)leadership race last Friday, clinching a run-off win after a contest among an unprecedentedly large field of nine candidates.

His picksfor finance, defence and foreign minister, as well as the pivotal post of chief cabinet secretary, appear to draw on seasoned veterans from the LDP,as he prepares to form a government on Tuesday.

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In a televised interview, Ishibasuggested to call out the snap election. Citing LDP sources, state media later reported that Ishibawould dissolve the lower house of Parliament on October 9, with an election set for October 27.

A look at Ishiba's cabinet

A report by the news agency Reuters said that for his cabinet, Ishibais set to name former chief cabinet secretary Katsunobu Kato as finance minister and bring Gen Nakatani back as defence minister.

Former defence ministerTakeshi Iwaya will assume the foreign minister post while Yoshimasa Hayashi will remain as chief cabinet secretary, a key post that includes the role of top government spokesperson.

Ryosei Akazawa, the state minister of finance, will be minister of economic revitalisation, Reuters reported.

Also watch | Japan's Ishiba eyeing for snap elections in October

Absent, however, from picks so far reported in local media is Sanae Takaichi, the hardline conservative Ishibabeat by 215 votes to 194 on Friday in the closest leadership election in almost 70 years.

Takaichi's exclusion could make it difficult forIshibato manage a fractious ruling group roiled by scandals that have sapped its public support.

Ishiba speaks on Japan's monetary policy

During the interview on Sunday,Ishibasaid Japan's monetary policy must remain accommodative as a trend, signalling the need to keep borrowing costs low to underpin a fragile economic recovery.

It was not immediately clear whetherIshiba, who had been a vocal critic of the Bank of Japan's past aggressive monetary easing, was taking a more dovish line with his remarks.

(With inputs from agencies)