Japan’s Prime Minister Shigeru Ishiba Resigns After Election Losses, Ruling Party to Choose New Leader Soon

New Delhi (India) September 8: Shigeru Ishiba is the former prime minister of Japan. He resigned on Sunday after criticism for consecutive electoral defeats. His resignation puts the ruling Liberal Democratic Party in an unstable position. They require an immediate leadership election.

Ishiba says,“I have decided to resign from my position as president of the Liberal Democratic Party. I have told Secretary-General Moriyama to carry out the procedures for a presidential election.I would like him to begin the process of selecting a new president” regarding his resignation.

Only 11 months in Office

The 68-year-old leader had assumed office in October of last year. He had been defying calls to resign for weeks. He claims that doing so will leave a lack of political leadership at a time when Japan is dealing with "big challenges". This comes at a time of rising prices, US tariffs, adjustments to its rice policy and increasing regional tensions.

However, after consecutive electoral setbacks, Ishiba's standing declined. His ruling coalition lost majorities in both houses of parliament.

LDP Prepares for Emergency Leadership Vote

His resignation was interpreted as a de facto no-confidence resolution against him. It was made just one day before the LDP was scheduled to vote on whether to hold an early leadership election.

The LDP is planning an emergency leadership election. The potential candidates include Shinjiro Koizumi. He is Ishiba's farm minister and a rising star in the party. It also includes Sanae Takaichi. He is a party veteran who has been critical of the Bank of Japan's rate hikes. In the LDP run-off last year, Ishiba defeated Takaichi by a tiny amount.

Coalition Loses Confidence in Both Houses of Parliament

The stability of Ishiba's government was impacted when his ruling coalition failed to win a majority in the upper chamber. It has 248 seats in the July parliamentary election.

This comes after a lower house election setback. The coalition led by the LDP had similarly failed to win a majority.

Ishiba met with former Prime Minister Yoshihide Suga and Agriculture Minister Shinjiro Koizumi before Monday's party voting. They may have proposed the resignation move.

The LDP called for a "complete overhaul" of the party last week. This is after deciding to measure the defeat in the legislative elections. 

Final Act: US-Japan Trade Deal Signed

Ishiba's final significant action as prime minister was to finalize a trade agreement with the US. Trump's 25% tax on Japanese goods was lowered to 15% as part of the deal in exchange for $550 billion in Japanese investments.

In a private letter to Trump, he invited him to Japan. He also expressed confidence for a "golden era" in the partnership.