The Nikkei average jumped 1.48 percent to 54,341.23, ending above 54,000 for the first time amid hopes that a bigger majority for Takaichi will help her implement her agenda of more proactive fiscal spending.
The broader Topix index settled 1.26 percent higher at 3,644.16. The yen fell to its weakest level in a year-and-a-half and Japan's five-year government bond auction drew the weakest demand since August as investors weighed the possibility of a snap election.
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