Japan Coalition Member Says Election Likely in Fall After LDP’s Vote

(Bloomberg) -- Japan is likely to hold a general election in the fall after the ruling Liberal Democratic Party concludes its leadership vote in September, according to a top official in a coalition party.

Most Read from Bloomberg

• One of the Most Infamous Trades on Wall Street Is Roaring Back

• Stock Rally Takes a Breather Before Inflation Data: Markets Wrap

• These Are the Best Countries for Wealthy Expats

• ‘Oppenheimer’ Wins Seven Oscars Including Best Picture, Director

Voters often pay more attention to the ruling LDP during its leadership election, and support tends to be high immediately after the event, said Keiichi Ishii, secretary general of the LDP’s junior coalition partner Komeito. He made the comments in an interview recorded last week and broadcast Sunday on a TV Tokyo outlet.

While Prime Minister Fumio Kishida has tried to cool speculation about a general election, his LDP has been rocked by a slush fund scandal that has eroded support for his government and spurred talk that his days as premier may be numbered. Should the slide in popularity continue, the LDP could seek to replace him in conjunction with its leadership vote.

Read more: Japan’s PM Kishida Apologizes, Vows Reform in Ethics Panel

The approval rating for Kishida’s government fell 4.4 percentage points to a fresh low of 20.1% in a Kyodo News survey published Sunday. The premier apologized for the political finance scandal, pledging to reform regulations, in an unprecedented parliamentary ethics hearing broadcast live on television in late February.

No general election need be held until 2025 and opposition parties have failed to capitalize on Kishida’s woes, with their support rates mostly limited to single figures. This means the LDP and Komeito are almost certain to retain power when the vote is held.

--With assistance from Mayumi Negishi.

(Updates with new poll results in the fourth paragraph.)

Most Read from Bloomberg Businessweek

• Academics Question ESG Studies That Helped Fuel Investing Boom

• Luxury Postnatal Retreats Draw Affluent Parents Around the US

• How Apple Sank About $1 Billion a Year Into a Car It Never Built

• The Battle to Unseat the Aeron, the World’s Most Coveted Office Chair

• How Microsoft’s Bing Helps Maintain Beijing’s Great Firewall

©2024 Bloomberg L.P.