In the afternoon, Junichiro Koizumi was appointed as the Prime Minister from both the House of Representatives and the House of Councillors. He is the 87th Prime Minister of Japan (the 56th person) since Hirobumi Ito in 1885. After his appointment Prime Minister Koizumi formed his Cabinet, including members of the private sector, five women and young members of the Diet. On the evening of the same day at the Imperial Palace he was appointed Prime Minister and the appointment of the Ministers of State of the Koizumi Cabinet was attested.

During the night, the Prime Minister convened his first Cabinet meeting. In a statement issued after the meeting, he stated, " In order to restore the faith of the people in politics, I am resolved to make this Cabinet the "Ceaseless Reform Cabinet," based on my view that "without structural reform there can be no economic recovery." I will advance political structural reform while at the same time leaving no sacred areas exempt from reforms in Japan's social and economic structures, thereby gaining the trust of both the people of our nation and the market in them."

Prime Minister Koizumi also said, "In implementing reform, I intend to put into practice "politics of trust," that consider both the benefits of policies and their shortfalls from the viewpoint of the people of our nation, without prejudice or reserve, and without regard for vested interests or institutional theories. This process will be fully open to public review as I seek the broad understanding of the people."