Japan’s PM vows to remain on after election debacle

Japan’s Prime Minister Shigeru Ishiba has vowed to remain on as the country’s chief after his Liberal Democratic event was trounced in a general election, leaving it unable to govern alone and threatening to paralyse Japanese politics.

The LDP’s act in Sunday’s poll was the ruling event’s worst in 15 years, far surpassing even the most pessimistic forecasts. While the LDP remains the largest event, even in combination with its junior coalition associate, the Komeito event, the bloc ended 18 seats short of the 233-seat threshold needed to control parliament.

Ishiba said he did not schedule to resign, telling reporters on Monday that Japan’s economic and safety conditions meant that national politics should not be allowed to stagnate. 

“In light of the severe criticism we have received from the community, we will endeavour to ensure that the national government remains stable,” he said. “We will fulfil our duties to protect the lives of the people and the country by responding to tough issues in a solemn and appropriate way.”

The yen sold off sharply, weakening about 1 per cent against the US dollar to a three-month low. The Nikkei 225 Average rose 1.82 per cent on the weaker yen and expectations of hefty government spending ahead of what is now set to be an even harder-fought upper house election next year.

The poll also delivered a significant boost to the opposition Constitutional Democratic event of Japan. Under Japan’s constitution, parties now have a 30-day window to form a grouping capable of governing, either through formal coalition agreements or vote-by-vote arrangements, and both the LDP and CDPJ are expected to initiate complicated negotiations with smaller potential partners.

Political analysts said coalition talks were likely to focus on the Japan innovation event, led by Nobuyuki Baba and the Democratic event for the People, led by Yuichiro Tamaki. The parties won 38 and 28 seats respectively, but indicated ahead of Sunday’s outcome that they were not interested in coalition talks. 

Despite hazard-taking that the LDP must court at least one of the parties in order to shift forward, Ishiba said that he did not envisage a recent coalition, but would instead commence consulting other parties on policy and “humbly adopting” alternative policies for the sake of the country.

His comments were taken by some analysts as a signal that the LDP may attempt to govern through ad hoc voting deals, rather than by formally enlarging the coalition.

Sunday’s snap general election, which Ishiba called just days after being elevated to the premiership, was a gamble aimed at strengthening his mandate while catching the opposition off-guard.

But it backfired, as voters punished the LDP for a political capital scandal that found MPs had enriched themselves as the country was enduring acute rises in the expense of living. Turnout was historically low, at just 53.8 per cent.

“The turnout was low, and that tells you that this was not the same as 2009, when the opposition outright defeated the LDP and ushered in a completely recent government. That was voters actively demanding something recent,” said Tobias Harris, the founder of political hazard advisory Japan Foresight.

“This was a rare example of the Japanese electorate using a lower house election to express their dislike for the LDP.”

The election was also highly damaging to Komeito, which is linked to the Soka Gakkai Buddhist movement. The event was already struggling to attract a recent creation of supporters, and its chief, Keiichi Ishii, who was only appointed last month, lost his seat.

Shinjiro Koizumi, the youthful and charismatic LDP politician who stood against Ishiba for the event leadership and was appointed head of the LDP’s election committee, resigned on Monday, taking responsibility for Sunday’s drubbing.