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In Japan’s race to replace Kishida, ex-defence chief Shigeru Ishiba throws hat into ring
- Japanese Prime Minister Fumio Kishida will step down next month, ending a three-year term as leader of the world’s fourth-largest economy
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– Shigeru Ishiba, a former defence minister, said on Saturday he would run in the ruling Liberal Democratic Party (LDP) leadership election on September 27 that will pick a successor to Prime Minister Fumio Kishida.
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Kishida will step down next month, ending a three-year term as leader of the world’s fourth-largest economy.
In a recent interview, Ishiba endorsed the Bank of Japan’s policy of gradually raising interest rates, saying the normalisation of ultra-loose monetary policy could push down prices and boost industrial competitiveness.
Earlier this month, Kishida – who took office in October 2021 – said he was bowing out of the race to pave the way for a new leader to form a united LDP to make a fresh start to regain public trust, badly hurt by the party’s extensive corruption scandal, causing his support ratings to dip below 20 per cent.
Within days of the prime minister’s declaration, local media has speculated about nearly a dozen possible candidates.
Before Ishiba declared his bid, former Economic Security Minister Takayuki Kobayashi, 49, was the first to announce his candidacy.
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