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

USD -
AED 3.672995
AFN 67.732769
ALL 92.653778
AMD 386.383589
ANG 1.793612
AOA 912.489626
ARS 998.485306
AUD 1.539255
AWG 1.7975
AZN 1.639783
BAM 1.846296
BBD 2.009412
BDT 118.926471
BGN 1.853145
BHD 0.376896
BIF 2939.110734
BMD 1
BND 1.337959
BOB 6.877118
BRL 5.762794
BSD 0.995167
BTN 83.976834
BWP 13.577578
BYN 3.256459
BYR 19600
BZD 2.006013
CAD 1.402175
CDF 2870.000394
CHF 0.883198
CLF 0.035282
CLP 973.905977
CNY 7.239598
CNH 7.23997
COP 4397
CRC 506.839358
CUC 1
CUP 26.5
CVE 104.091342
CZK 23.94155
DJF 177.218297
DKK 7.0615
DOP 59.963561
DZD 133.378146
EGP 49.512403
ERN 15
ETB 123.19576
EUR 0.94666
FJD 2.270702
FKP 0.789317
GBP 0.79144
GEL 2.725022
GGP 0.789317
GHS 15.87354
GIP 0.789317
GMD 70.999724
GNF 8576.337427
GTQ 7.688967
GYD 208.211005
HKD 7.78349
HNL 25.139006
HRK 7.133259
HTG 130.736045
HUF 385.378976
IDR 15864.55
ILS 3.742695
IMP 0.789317
INR 84.42775
IQD 1303.760903
IRR 42092.503293
ISK 137.55014
JEP 0.789317
JMD 157.953365
JOD 0.7093
JPY 154.091011
KES 129.505074
KGS 86.494512
KHR 4021.485684
KMF 464.749692
KPW 899.999621
KRW 1392.530218
KWD 0.307496
KYD 0.829306
KZT 496.568521
LAK 21864.232378
LBP 89121.220417
LKR 289.952894
LRD 182.618875
LSL 18.023902
LTL 2.95274
LVL 0.60489
LYD 4.860688
MAD 9.964411
MDL 18.083469
MGA 4652.040932
MKD 58.271967
MMK 3247.960992
MNT 3397.999946
MOP 7.979723
MRU 39.679603
MUR 46.280006
MVR 15.460348
MWK 1725.746004
MXN 20.271039
MYR 4.472982
MZN 63.924936
NAD 18.023902
NGN 1667.790364
NIO 36.627616
NOK 11.039365
NPR 134.362934
NZD 1.699813
OMR 0.385022
PAB 0.995176
PEN 3.78284
PGK 4.003549
PHP 58.921029
PKR 276.467168
PLN 4.100931
PYG 7756.899506
QAR 3.629532
RON 4.7114
RSD 110.74098
RUB 100.455221
RWF 1367.129236
SAR 3.754156
SBD 8.36952
SCR 13.619172
SDG 601.495038
SEK 10.970275
SGD 1.339745
SHP 0.789317
SLE 22.650037
SLL 20969.504736
SOS 568.77183
SRD 35.405023
STD 20697.981008
SVC 8.708417
SYP 2512.529858
SZL 18.017219
THB 34.589515
TJS 10.589063
TMT 3.5
TND 3.145538
TOP 2.342103
TRY 34.575145
TTD 6.756285
TWD 32.4265
TZS 2653.981982
UAH 41.216346
UGX 3654.265512
UYU 42.678725
UZS 12750.752849
VES 45.734176
VND 25405
VUV 118.722009
WST 2.791591
XAF 619.22752
XAG 0.031965
XAU 0.00038
XCD 2.70255
XDR 0.757089
XOF 619.224597
XPF 112.582719
YER 249.850093
ZAR 18.074725
ZMK 9001.19797
ZMW 27.443206
ZWL 321.999592
  • CMSC

    0.0540

    24.624

    +0.22%

  • RYCEF

    0.0800

    6.93

    +1.15%

  • JRI

    0.1300

    13.23

    +0.98%

  • NGG

    0.1500

    62.9

    +0.24%

  • CMSD

    -0.0500

    24.39

    -0.21%

  • RBGPF

    59.7500

    59.75

    +100%

  • RIO

    1.1400

    62.12

    +1.84%

  • BCE

    0.4100

    27.23

    +1.51%

  • BCC

    1.4500

    141.54

    +1.02%

  • SCS

    -0.0300

    13.2

    -0.23%

  • RELX

    0.5900

    45.04

    +1.31%

  • GSK

    0.3400

    33.69

    +1.01%

  • AZN

    0.1600

    63.39

    +0.25%

  • BTI

    0.2900

    36.68

    +0.79%

  • BP

    0.4400

    29.42

    +1.5%

  • VOD

    0.1500

    8.92

    +1.68%

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