Japanese Prime Minister Shigeru Ishiba resigned on Monday, triggering a likely long period of political uncertainty at a volatile time for the world's fourth-largest economy, Reuters reported, quoted by BTA.
After final details of a trade deal with the United States to reduce President Donald Trump's tariffs were settled, Ishiba, 68, told a news conference that he must take responsibility for a series of election losses. Since coming to power less than a year ago, the prime minister has suffered electoral losses for the ruling coalition in both houses of parliament amid voter discontent over rising living costs.
He instructed the Liberal Democratic Party, which has governed Japan for most of the postwar period, to hold an emergency leadership election and said he would stay in office until a successor could be found.
"With the signing of the trade agreement and the presidential decree, Japan has overcome a key challenge," Ishiba said. "I would like to pass the baton to the next generation," he added.
Ishiba had been under pressure to resign after losing an upper house election in July. The Liberal Democratic Party was due to vote tomorrow on whether to elect a new party leader.
Whoever becomes the party leader now could decide to call a snap election to give the party a mandate, analysts say.
Although Japan's opposition remains fragmented, the far-right and anti-immigration "Senseito" scored a strong showing in the upper house election in July, pushing ideas once considered unconventional into the political mainstream.
A Kyodo poll released today found that there was no need for a snap election.
Ishiba, an outsider who became party leader for the fifth time last September, has focused his short term on striking a trade deal with Japan's biggest trading partner, promising $550 billion in investment in exchange for lower U.S. tariffs.
Ishiba said he hoped the next prime minister would ensure the deal was implemented and Japan continued to make gains to address rising spending and public discontent over the issue.
He expressed concern about the security situation ahead of a summit between the leaders of China, North Korea and Russia in the military parade earlier this week.