Close race to select Japan's next leader

Japan's ruling Democratic Party has formally kicked off a leadership race to decide the country's next prime minister. This comes just one day after Prime Minister Naoto Kan announced his resignation from the party leadership. Five men have declared their candidacy for the ruling party's top spot. Naoto Kan's successor will become Japan's sixth prime minister in five years. Public opinion polls show that the favorite candidate is former Foreign Minister Seiji Maehara. But Trade Minister Banri Kaieda has emerged as a strong contender as he was said to be backed by veteran party power broker, Ichiro Ozawa. Other candidates include Finance Minister, Yoshihiko Noda, former Transport Minister, Sumio Mabuchi, and Agriculture Minister, Michihiko Kano. Members of parliament will vote on Monday to choose the new leader, who is also likely to become prime minister.