The Fort Worth Press - Unpopular Japan PM Kishida to step down

USD -
AED 3.672504
AFN 64.503991
ALL 81.046102
AMD 360.780113
ANG 1.789785
AOA 917.000367
ARS 1523.143125
AUD 1.422273
AWG 1.8025
AZN 1.70397
BAM 1.745704
BBD 2.012675
BDT 123.586379
BGN 1.747831
BHD 0.377114
BIF 2995.403222
BMD 1
BND 1.277279
BOB 11.766859
BRL 4.965204
BSD 0.999331
BTN 94.818583
BWP 13.766234
BYN 2.934172
BYR 19600
BZD 2.009729
CAD 1.40025
CDF 2316.000362
CHF 0.825078
CLF 0.025294
CLP 995.510396
CNY 6.67805
CNH 6.670604
COP 3150.41
CRC 456.018209
CUC 1
CUP 23.982684
CVE 98.420137
CZK 21.719504
DJF 177.944392
DKK 6.67165
DOP 61.293346
DZD 134.335699
EGP 55.079216
ERN 15
ETB 162.538225
EUR 0.89267
FJD 2.237204
FKP 0.74735
GBP 0.747692
GEL 2.590391
GGP 0.74735
GHS 11.586558
GIP 0.74735
GMD 74.000355
GNF 8843.664926
GTQ 7.638684
GYD 209.291739
HKD 7.84235
HNL 26.828223
HRK 6.728204
HTG 130.968001
HUF 327.370388
IDR 18093.85
ILS 3.10555
IMP 0.74735
INR 94.945504
IQD 1514.883742
IRR 1832375.000352
ISK 121.780386
JEP 0.74735
JMD 158.593297
JOD 0.70904
JPY 156.860385
KES 129.754095
KGS 87.448604
KHR 4082.652742
KMF 439.503794
KPW 899.999961
KRW 1323.525039
KWD 0.31069
KYD 0.832775
KZT 453.715357
LAK 22486.722899
LBP 89486.053465
LKR 331.81595
LRD 170.375329
LSL 16.556076
LTL 2.95274
LVL 0.60489
LYD 6.399786
MAD 9.815504
MDL 18.037221
MGA 4519.123488
MKD 54.987281
MMK 2100.348965
MNT 3600.056668
MOP 8.073191
MRU 39.936627
MUR 47.160378
MVR 15.460378
MWK 1732.762083
MXN 18.668404
MYR 4.085304
MZN 63.903729
NAD 16.556076
NGN 1332.060377
NIO 36.774222
NOK 9.35739
NPR 151.709734
NZD 1.750854
OMR 0.38297
PAB 0.999241
PEN 3.431874
PGK 4.475387
PHP 63.618038
PKR 276.527424
PLN 3.92999
PYG 5779.443924
QAR 3.642612
RON 4.779804
RSD 105.321038
RUB 80.331771
RWF 1476.413621
SAR 3.751558
SBD 8.07458
SCR 13.982238
SDG 601.503676
SEK 9.931804
SGD 1.276904
SHP 0.7473
SLE 22.950371
SLL 20969.504398
SOS 571.07154
SRD 37.628038
STD 20697.981008
STN 21.868166
SVC 8.743696
SYP 13001.999685
SZL 16.555541
THB 33.770369
TJS 9.208462
TMT 3.51
TND 2.983978
TOP 2.40776
TRY 49.703804
TTD 6.789842
TWD 32.585804
TZS 2645.601821
UAH 45.239791
UGX 4402.195742
UYU 40.076762
UZS 11958.762887
VES 879.788904
VND 25842.5
VUV 118.928057
WST 2.764707
XAF 585.553409
XAG 0.018551
XAU 0.000250266221
XCD 2.70255
XCG 1.800955
XDR 0.707052
XOF 585.553409
XPF 106.448878
YER 236.103589
ZAR 16.57373
ZMK 9001.203584
ZMW 20.091043
ZWL 321.999592
SSP 5745.817056
MXV 2.106972
  • RIO

    -0.3300

    97.04

    -0.34%

  • CMSC

    -0.0400

    20.67

    -0.19%

  • RELX

    0.0000

    33.41

    0%

  • RBGPF

    0.0000

    67.95

    0%

  • BCE

    -0.0700

    21.99

    -0.32%

  • BCC

    -0.0300

    75.66

    -0.04%

  • GSK

    0.8600

    51.08

    +1.68%

  • JRI

    -0.0300

    11.52

    -0.26%

  • NGG

    -0.1200

    76.68

    -0.16%

  • CMSD

    0.0900

    20.54

    +0.44%

  • BTI

    -0.0800

    55.75

    -0.14%

  • AZN

    2.0200

    168.1

    +1.2%

  • BP

    -1.4200

    43.16

    -3.29%

  • RYCEF

    0.4600

    19.7

    +2.34%

  • VOD

    0.0700

    17.02

    +0.41%

Unpopular Japan PM Kishida to step down
Unpopular Japan PM Kishida to step down / Photo: © JIJI Press/AFP/File

Unpopular Japan PM Kishida to step down

Japan's unpopular Prime Minister Fumio Kishida is set to quit after announcing on Wednesday he will not seek re-election as party chief.

Text size:

The ruling Liberal Democratic Party, which has governed almost uninterrupted since 1945, is due to hold a leadership contest next month, with the winner to become prime minister.

"In this (party) presidential election, it is necessary to show the people that the LDP is changing and the party is a new LDP," Kishida told reporters in Tokyo.

"For this, transparent and open elections and free and vigorous debate are important. The most obvious first step to show that the LDP will change is for me to step aside," he said.

Kishida, 67, in office since October 2021, has seen his and his party's poll ratings slide sharply in response to rising prices hitting Japanese incomes and several scandals.

In November, Kishida announced a stimulus package worth 17 trillion yen (more than $100 billion at the time) as he tried to ease the pressure from inflation and rescue his premiership.

But this failed to make him any less unpopular, both among voters in the world's fourth-largest economy and within his own party.

Along with inflation -- for Japanese voters an unfamiliar and unwelcome phenomenon -- growth has spluttered, shrinking 0.7 percent in the first quarter.

Despite some recovery in recent weeks, the yen has been one of the world's worst-performing currencies, making life easier for exporters but pushing up import prices.

- Early exit -

Kishida could in theory have governed until 2025, and there had been speculation he might call a snap election to shore up his position.

But NHK reported that growing voices inside the LDP believed it would fare badly in elections under Kishida. In April, the party lost three by-elections.

Kishida, who last year escaped a pipe-bomb attack unscathed, has also faced severe criticism over a major kickbacks scandal linked to fundraising parties.

Kishida decided to jump because he knew he would lose the leadership battle, said Koichi Nakano, political science professor at Sophia University.

"He has failed to close ranks within the LDP," Nakano told AFP.

But he added: "For an LDP leader, staying in power for three years is longer than the average."

Before Wednesday, several figures were mooted in local media as possible challengers to Kishida including digital minister Taro Kono and economic security minister Sanae Takaichi.

The Yomiuri Shimbun daily reported that some LDP members have high hopes for Shigeru Ishiba, former party number two, and Shinjiro Koizumi, former environment minister and son of ex-premier Junichiro Koizumi.

- Muscular defence -

Kishida has sided decisively with Ukraine since Russia's invasion, welcoming President Volodymyr Zelensky to a G7 summit in Hiroshima and visiting Kyiv.

Under Kishida, Japan also pledged to double its defence spending to the NATO standard of two percent of GDP by 2027.

Encouraged by the United States as the two countries seek to confront an increasingly assertive China, this marked a major change for Japan from decades of strict pacifism.

US President Joe Biden hosted Kishida at the White House in April when the two countries announced a "new era" in cooperation.

Japan and the Philippines in July signed a defence pact allowing for the deployment of troops on each other's territory.

On climate, Kishida promised at COP 28 in December that Japan would build no new coal power stations that were "unabated", or lacked measures to reduce emissions.

Critics said that the necessary technologies, such as "co-firing" coal with ammonia or capturing and storing emissions, were unproven on a large scale.

C.M.Harper--TFWP