TOKYO, September 28, SPA -- Japan's ousted ruling party elected former Finance Minister Sadakazu Tanigaki as its new leader on Monday, The Associated Press reported. Tanigaki, 64, will replace as party chief former PrimeMinister Taro Aso, who led the Liberal Democratic Partyinto a crushing defeat in August elections against newPrime Minister Yukio Hatoyama's Democratic Party of Japan. The Liberal Democratic Party, which is conservative andpro-big business, had ruled since it was founded in 1955with just one short break. «I would like to do my best to win back voters'confidence,» Tanigaki said at the party's headquarters,after winning 300 of the 498 valid ballots cast by partylawmakers and rank-and-file members across the nation. «I will be at the forefront in reforming our party,»Tanigaki said. «I will make my utmost efforts so that ourparty can once again return to power.» In August, the Liberal Democrats lost 60 percent of theirseats and their majority in the more powerful lower houseof parliament. In the 242-member upper house, the partyonly has 85 seats. During the party election campaign, Tanigaki vowed hewould lead the party to victory in an upper house electionscheduled for next summer.--SPA www.spa.gov.sa/703906