Japan made history of its own on Tuesday by electing its first female prime minister, Sanae Takaichi, a self-declared admirer of the "Iron Lady."

Japan’s parliament elected ultraconservative Sanae Takaichi as the country’s first female prime minister on Tuesday, following her party’s last-minute coalition deal to secure a majority.

Takaichi takes over at a challenging economic moment as Japan grapples with rising cost-of-living and a frustrated public.