Japanese Prime Minister Fumio Kishida has announced that his ruling Liberal Democratic Party will not run for president. [LDP] Next month – a decision to appoint a new leader of the world’s fourth largest economy.
Kishida, who has battled low approval ratings and a damaging financial scandal, said he would step down as LDP leader in September, telling reporters on Wednesday that the party needed “an open contest to encourage debate.”
His decision ends a three-year period marked by corruption, high living costs and record defense costs.
“In this presidential election, it is important to show people that the LDP is changing and that the party is the new LDP,” Kishida, 67, told a press conference at the prime minister’s office.
“For this, open and transparent elections and free and vigorous debate are important. My stepping down is the most obvious first step to show that the LDP will change.
Kishida’s decision will trigger a contest to replace him as party leader, with the winner certain to be approved as prime minister by the LDP-controlled parliament.
His successor will face growing international uncertainty, the election of a new US president and, at home, growing concerns about a cost-of-living crisis.
Among those named as potential successors are Shigeru Ishiba, a centrist former defense secretary, and Taro Kono, an active digital minister.
The LDP presidential race may also include female candidates, raising the possibility that Japan will have a female prime minister for the first time.
Both ultra-conservative Economic Security Minister Sane Takaichi and former Internal Affairs Minister Seiko Noda may decide to run against Kishida in the 2021 party leadership contest. Entry into the race requires the support of at least 20 legislators.
Foreign Minister Yoko Kamikawa has also been mentioned as a possible candidate.
Media reports said that Kishida came under pressure from figures in the LDP who believed that he could not lead the LDP party to electoral victories.
The party has struggled to deflect criticism over financial corruption, while inflation has seen support levels for his cabinet drop by around 25% this year, sometimes below 20%.
