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Japan PM vows to restore stability after losing majority
Business Standard
|October 29, 2024
Ruling coalition fell short of required number in the lower house for the first time since 2009
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Japanese Prime Minister Shigeru Ishiba promised Monday to restore political stability in a bid to maintain power, after his ruling coalition failed to win a majority in the lower house for the first time since 2009.
"We have to humbly listen to the voices of criticism," Ishiba, who took the job only four weeks ago after winning a leadership vote in his Liberal Democratic Party (LDP), said at a press briefing in Tokyo. "I want to take responsibility by protecting people's daily lives, and protecting Japan."
Ishiba's comments indicate he intends to continue as prime minister and seek to form an administration even after his gamble on an early election failed. While the LDP still won the most votes in the election, his ruling coalition dropped 78 seats, falling short of the 233 needed for a majority.
Yen slumps in the aftermath
This story is from the October 29, 2024 edition of Business Standard.
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