Prime Minister Shigeru Ishiba's Liberal Democratic Party has ruled for almost all of Japan's postwar period. But it lost its parliamentary majority at Sunday's national election. Could smaller parties be key for Japan's future government?
Japan 's ruling coalition has lost its parliamentary majority at Sunday's national election , raising uncertainty over the make-up of the next government and the outlook for the world's fourth-largest economy.
The party promised to clean up its finances ahead of the election but allowed most of more than 40 members who failed to record political donations to stand for the party.His predecessor, Fumio Kishida, quit after his support fell due to anger over a cost-of-living crunch and the scandal involving unrecorded donations to members.
Yoshihiko Noda, leader of Japan's CDPJ, said his party would work with other opposition parties for a change of government.The outcome may force parties into fractious power-sharing deals to rule, potentially ushering in political instability as the country faces economic headwinds and a tense security situation in East Asia.
For Mr Ishiba, potential additional partners include the Democratic Party of the People , which calls for lower taxes, and the conservative Japan Innovation Party. Problems could arise if Mr Ishiba chooses a partner that favours maintaining near-zero interest rates, when the central bank wants to raise them."Without a strong government, it would be more difficult for the BOJ to raise rates and keep the weak yen under control," said Masafumi Fujihara, associate professor of politics at Yamanashi University.
National Election Shigeru Ishiba Liberal Democratic Party (LDP) Constitutional Democratic Party Of Japan (CDPJ) Yoshihiko Noda Democratic Party Of The People (DPP) Yuichiro Tamaki Innovation Party Nobuyuki Baba Japanese
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