Koriki Jojima replaces Jun Azumi in the key post, while the foreign and defence ministers kept their jobs.

BBC: Japan PM Yoshihiko Noda names new ministers

Jun Azumi, a former journalist, takes up the important role of finance minister for the world's third-largest economy.

CNN: Japan's new PM pledges to rebuild

Traders will definitely try the will and resolve of Mr. Azumi in the future, you can count on that.

FORBES: Yen Pin

Finance Minister Jun Azumi said the BoJ "took more action than we anticipated".

BBC: Bank of Japan increases asset purchase programme

My guess is that Noda feels that he is capable of being his own finance minister, and Azumi will simply act as his agent.

FORBES: Of Sumo and Japanese Government Finances

This would outline the upcoming difficulty for Mr. Azumi trying to replicate the success of Philipp Hildebrand, chairman of the Swiss National Bank (SNB).

FORBES: Yen Pin

The Japanese finance minister Jun Azumi, assured Mr Geithner during his visit to Tokyo last week, that it will reduce oil imports from Iran.

BBC: Iran oil sanctions divide Asia's four largest economies

Japanese Finance Minister Jun Azumi hinted to reporters that the government might intervene in the currency markets in an attempt to halt the yen's rise.

WSJ: European Elections Hit Asian Markets

Azumi, 49, has no background in finance or other ministerial-level experience.

FORBES: Of Sumo and Japanese Government Finances

"We are watching the markets with a sense of caution and will take decisive action if needed, " said Japanese Finance Minister Jun Azumi at a regular press conference.

WSJ: Hopes of Easing Lift Asia Markets