Japan’s Prime Minister, Fumio Kishida, has announced he will not be seeking a second term in office and will instead step down from office next month following a series of political scandals and economic turmoil that fueled calls for him to resign.
Kishida made the announcement in a press conference on Wednesday, saying it is necessary to present the ruling Liberal Democratic Party (LDP) as a “changed party.”
“Transparent and open elections and a free and vigorous debate are more important than ever. The most obvious first step, to show that the LDP will change, is for me to step aside,” he said.
“I have made the heavy decision with a strong desire to move forward with political reform, because the people’s trust is what makes politics work.”
The party which has ruled for many decades have been embroiled in several controversies including allegations that two of its most influential factions failed to properly declare their income and expenditure and, in some instances, allegedly rerouting political funds to lawmakers as kickbacks.
During his nearly three years in office, Kishida vowed to take anti-corruption measures and institute party reforms, including dissolving factions and taking disciplinary action against any corrupt lawmakers but concerns about Japan’s economy, including the weakening of the Yen against the US dollar, have also undermined confidence in Kishida’s economic policies.
He had previously denied he would step down as party leader despite public criticism and sinking ratings.
