Japan's largest opposition party, the Centrist Reform Alliance, is expected to lose a significant number of its deputies in the House of Representatives in today's elections. This means that from now on the political future of the two co-chairs of the party becomes quite uncertain, Kyodo reported, citing exit polls.
The alliance was established in January after the merger of the two opposition parties, the Constitutional Democratic Party (KDP) and the "Komeito" (Pure Politics Party), BTA recalls. The formation of the single party came about after "Komeito" ended its 26-year alliance with the ruling Liberal Democratic Party.
Although the opposition as a whole is suffering a heavy defeat, things are not the same with the right-wing populist formation "Senseito", which is projected to increase its number of deputies by more than two-thirds.
The "Senseito" party, known for its anti-globalization and anti-immigrant rhetoric under the slogan "Japanese first", has recently significantly increased its popularity in the election races.
"Team Mirai", or "Team of the Future", a formation that fights for technological reforms in Japan's political system, will have a deputy in the House for the first time, exit polls show.
The coalition of Japanese Prime Minister Sanae Takaichi is on track to win a convincing victory in Japan's public broadcaster said on Tuesday that a snap parliamentary election would pave the way for the government to implement its plans for tax cuts that have rattled financial markets and for a defense spending boost aimed at countering China.
Takaichi's Liberal Democratic Party (LDP) and its coalition partner, the Japan Restoration Party ("Nippon Ishin"), are set to win the election. could win up to 366 of the 465 seats in the more powerful House of Representatives (lower house) of the Japanese parliament, giving them a two-thirds majority to push through their legislative agenda, according to Japanese public television.
The Liberal Democratic Party (LDP) itself had already secured the 233 seats needed for a majority about 90 minutes after the polls closed. Takaichi's party is expected to win up to 328 seats, which would be its best result in history.
Japan's first female prime minister called the snap election to capitalize on her high popularity after being elected leader of the ruling party late last year.
Voters were drawn to her straightforward, hard-working image, but her nationalist stance and emphasis on security have strained relations between Japan and China, and her promises to cut taxes have rattled financial markets.
Some voters had to brave the snow to cast their ballots, with record snowfall in some parts of the country hampering travel and forcing a number of polling stations to close before 8 p.m. local time (1 p.m. Eastern time).
Today's snap election is just the third in Japan's post-war history to be produced in February, with elections usually held in the warmer months of the year.
Takaichi's campaign promise to temporarily freeze the 8 percent sales tax on groceries to help households cope with rising living costs has spooked investors, who are concerned about how the country with the highest public debt among advanced economies will finance the plan.
The Liberal Democratic Party (LDP), which has governed for most of Japan's post-war history, lost control of both houses in elections held nearly a year and a half ago under Takaichi's predecessor as LDP chairman Shigeru Ishiba.
Takaichi says he draws inspiration from Britain's Iron Lady Margaret Thatcher. She has amassed a large following on social media and is particularly popular among young voters, as polls show.