Japan PM Ishiba will resign to avoid party split, media report Yuka ObayashiSeptember 7, 2025 at 12:29 AM 0 By Yuka Obayashi TOKYO (Reuters) Embattled Japanese Prime Minister Shigeru Ishiba will resign to avoid a split within his ruling party, Japanese media reported on Sunday, pitching the world's ...
- - Japan PM Ishiba will resign to avoid party split, media report
Yuka ObayashiSeptember 7, 2025 at 12:29 AM
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By Yuka Obayashi
TOKYO (Reuters) -Embattled Japanese Prime Minister Shigeru Ishiba will resign to avoid a split within his ruling party, Japanese media reported on Sunday, pitching the world's fourth-largest economy into fresh political uncertainty.
A spokesperson for the Prime Minister's Office did not immediately have a comment when contacted by Reuters, but the government said Ishiba would hold a press conference at 6 p.m. (0900 GMT).
Since he came to power in September last year, Ishiba's coalition has lost its majorities in elections for both houses of parliament amid voter anger over rising living costs.
He had refused calls from within his Liberal Democratic Party to step down and take responsibility for the upper house loss in July.
Concern over political uncertainty led to a sell-off in the yen and Japanese government bonds last week, with the yield on the 30-year bond hitting a record high on Wednesday.
Speculation over Ishiba's fate increased when the LDP scheduled a vote for Monday on whether to hold an extraordinary leadership election.
While the policy paralysis could add pain for an economy hit by U.S. tariffs, markets are focusing more on the chance of Ishiba being replaced by an advocate of looser fiscal and monetary policy, such as Sanae Takaichi, who has criticised the Bank of Japan's interest rate hikes.
Ishiba narrowly defeated Takaichi in the LDP leadership run-off.
If Ishiba resigns, his last act as premier will have been to finalise details of a trade deal with the United States last week, under which Japan pledged $550 billion of investments in return for lower tariffs from U.S. President Donald Trump on Japan's key autos sector.
(Reporting by Yuka Obayashi; Writing by John Geddie; Editing by William Mallard)
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