TOKYO, March 14 (Xinhua) -- Japan's lower house on Thursday approved the nomination of Haruhiko Kuroda, current Asian Development Bank President, for the position of the next Bank of Japan governor.
The lower house also approved the nomination of two deputy governors, Gakushuin University professor Kikuo Iwata and current BOJ Executive Director Hiroshi Nakaso.
The new leadership will take over next Wednesday after current BOJ Governor Masaaki Shirakawa resigns on Tuesday, when his two deputies' five-year terms end, instead of his own term-expiration date, which falls on April 8.
The ongoing Diet process will only allow Kuroda to serve the remainder of Shirakawa's term.
Kuroda will have to undergo another Diet confirmation process in order to continue for a five-year term.