Japan’s Future Uncertain as Ruling Bloc Loses Majority for First Time in Over a Decade

October 28, 2024 TruthUSA

Prime Minister Shigeru Ishiba expressed that voters have given a ‘harsh verdict’ on the LDP.

Japan entered a state of political uncertainty following snap elections that resulted in the ruling coalition, led by new Prime Minister Shigeru Ishiba, losing its parliamentary majority for the first time in 15 years.

Ishiba’s Liberal Democratic Party (LDP) and its coalition partner, Komeito, secured 215 seats in the 465-seat lower house, falling short of the 233 required for a majority, as reported by public broadcaster NHK.

The main opposition party, the Constitutional Democratic Party of Japan (CDPJ), saw a significant increase by winning 148 seats, up from the previous 98.

The Democratic Party for the People (DPP) gained 28 seats, while the Japan Innovation Party, also known as Nippon Ishin no Kai, secured 38 seats, according to local news outlet Asahi Shimbun.

This outcome presents a major challenge for Ishiba, who now needs to find a third coalition partner to establish a majority.

Leaders of the DPP and the Japan Innovation Party have expressed their reluctance to join the LDP-led coalition. DPP leader Yuichiro Tamaki stated that his party is open to “policy-by-policy” cooperation instead.

Ishiba stated to NHK that voters had given a “harsh verdict” on the LDP and indicated a desire for the party to “reflect on our actions” and make necessary changes.

“We may face tough feedback from the public in the Upper House election, so we must take it seriously and establish the political reform headquarters immediately,” he mentioned.

The yen fell to a three-month low against the U.S. dollar on Monday, dropping by one percent to 153.88 per dollar in the Asia session following LDP’s failure to secure a majority.

Ishiba called for snap elections after being elected earlier this month to replace Fumio Kishida, who resigned due to public dissatisfaction with the government’s handling of rising inflation and a fundraising scandal.

The LDP has been the governing party of Japan for most of its post-war history, and the recent election outcome marked the party’s worst performance since briefly losing power in 2009 to the Democratic Party of Japan (DPJ), a predecessor of the CDPJ.

The DPJ’s handling of the 2011 earthquake and tsunami, which greatly impacted the Fukushima nuclear plant, led to the LDP winning the 2012 election under the leadership of the late Shinzo Abe. Abe, the longest-serving prime minister, was assassinated in 2022 following the end of his tenure in 2020.

Ishiba has previously criticized some of Abe’s policies. In a 2018 interview with Japan’s newspaper Mainichi Shimbun, he criticized the former prime minister’s tactics regarding the Northern Territories.

The Northern Territories are four islands off the coast of Hokkaido that were ceded to the Soviet Union—and subsequently inherited by Russia—after the war.

Abe aimed to promote joint economic activities on the islands with Russia, but Ishiba expressed skepticism that such efforts would lead to their return, which has long been a Japanese demand.

Ishiba pledged to stimulate consumption and increase household income through wage hikes upon his election on Oct. 1. He also advocated for the establishment of an Asian counterpart to NATO to counter China.

Chris Summers and Reuters contributed to this report.

Source link