Tokyo (Business Emerge), August 14: Japan’s political landscape is set to change as Prime Minister Fumio Kishida announced his decision to resign, marking the end of his three-year tenure. The announcement, driven by increasing public dissatisfaction over economic hardships and political controversies, has initiated the process to elect his successor.
The ruling Liberal Democratic Party (LDP) will organize a leadership contest in September to determine the new party president, who will also assume the role of Japan’s prime minister. Kishida’s decision comes in response to declining approval ratings, which began to fall shortly after he took office in 2021. His administration faced scrutiny following revelations about the LDP’s connections with the controversial Unification Church, as well as the exposure of a slush fund linked to unrecorded political donations during LDP fundraising events.
Kishida acknowledged the growing mistrust among the public and emphasized the importance of political reform. “Politics cannot function without public trust. I made this heavy decision thinking of the public, with the strong will to push political reform forward,” he stated during a press conference where he confirmed his decision not to seek re-election as LDP leader.
Adding to the public’s frustration was the failure of wages to keep up with rising living costs, even as Japan began to emerge from years of deflation. The economic strain, coupled with political scandals, eroded Kishida’s support base, making it challenging for him to maintain his position.
Koichi Nakano, a political science professor at Sophia University, commented on the situation, noting, “An LDP incumbent prime minister cannot run in the presidential race unless he’s assured of a victory. It’s like the grand champion yokozunas of sumo. You don’t just win, but you need to win with grace.”