Shigeru Ishiba resigns as Japan PM: Who are the top contenders for the post?
Ishiba's resignation follows two national election losses that cost the LDP-led coalition its majorities in both houses of parliament.
After a turbulent year in office, Japanese Prime Minister Shigeru Ishiba announced his resignation, bringing an early end to a tenure defined by a series of defeats and resistance within his ruling Liberal Democratic Party (LDP).
While Ishiba's departure is believed to be associated with mounting internal pressure within the party, his exit raises a far more pressing question: What comes next for Japan's leadership and who will take the post?
Also Read | Japanese PM Shigeru Ishiba to step down. Here's why
Party vote cancelled?
The Liberal Democratic Party was set to hold a vote on Monday on whether to bring forward a leadership election by two years, in what looked increasingly likely to turn into a vote of no confidence in the premier, as local media surveys showed support for an early race gaining steam.
Ishiba said the vote would now be cancelled.
Ishiba's resignation follows two national election losses that cost the LDP-led coalition its majorities in both houses of parliament.
Markets are already on edge. With no clear successor and policy uncertainty looming, analysts warn of increased volatility when trading reopens Monday.
Who could be Japan's next Prime Minister?
With Ishiba out, the race to succeed him has officially begun, and the names of some potential PM candidates have started to float.
To enter the leadership race, LDP candidates must gather support from at least 20 fellow lawmakers. Whoever wins the party vote will then need to secure parliamentary backing to become Japan's next prime minister.
Also Read | Japanese town urges residents to limit smartphone use to two hours a day, faces backlash
Though the LDP no longer holds a majority in either chamber, it remains the largest bloc in the lower house, positioning its new leader as the frontrunner.
Sanae Takaichi
Potential candidates within the ruling party include Sanae Takaichi, a former internal affairs minister who finished second to Ishiba in an LDP leadership race last year. She favours stimulus measures and would likely prefer the Bank of Japan to take a more cautious view on interest rate hikes.
Shinjiro Koizumi
Agriculture Minister Shinjiro Koizumi, the son of a former prime minister, will also likely step into the fray and could give the LDP a fresher look that appeals to a younger generation. According to a Nikkei report, Koizumi met Ishiba on Saturday and urged him to step down.
Takayuki Kobayashi
Among other possible candidates, Takayuki Kobayashi, a former economic security minister, is on the right wing of the party and would be a possible rival to Takaichi in seeking support from that section of lawmakers.
Yoshimasa Hayashi
Yoshimasa Hayashi, the current chief cabinet secretary, as well as Katsunobu Kato, the finance minister, might also show interest in succeeding Ishiba.
