Japan's former defence minister Shigeru Ishiba is set to become Japan's next prime minister, after winning the ruling Liberal Democratic Party's leadership election on Friday, Sep. 27.

The 67-year-old former banker will succeed incumbent Prime Minister Fumio Kishida, Kyodo News and Nikkei reported.

He won the runoff with 215 votes, defeating economic security minister Sanae Takaichi who secured 194 votes, according to The Japan Times.

Ishiba is known as the late former Prime Minister Shinzo Abe's longtime political rival.

This is his fifth bid to become Japan's Prime Minister.

He will be sworn in as Japan's 102nd Prime Minister on Oct. 1, the same day Kishida will officially be stepping down as Prime Minister.

Top image via Shigeru Ishiba/Facebook.