1: Japan's Prime Minister Shigeru Ishiba resigned on Sunday amid political turmoil within his party.
2: "With Japan having signed the trade agreement and the president having signed the executive order, we have passed a key hurdle," Ishiba said. "I would like to pass the baton to the next generation."
Japanese Prime Minister Shigeru Ishiba announced his resignation on Sunday in a televised press conference, stating that his Liberal Democratic Party (LDP) should hold an emergency leadership race.
The resignation comes the light of growing calls from within his party to take responsibility for the loss of majority in the upper house in July this year.
The Prime Minister had earlier resisted resignation, stating that he would continue at his job as the trade deal with the United States was in the making.
The Japan-US trade deal was reached last week, under which Japan pledged $550 billion of investments in return for lower tariffs from the United States.
"With Japan having signed the trade agreement and the president having signed the executive order, we have passed a key hurdle," Reuters quoted Ishiba. "I would like to pass the baton to the next generation."
Ishiba, the former finance minister who came to power last September, also lost majority in the lower house in October, 2024.
The resignation also comes against the backdrop of LDP lawmakers scheduling to vote on Monday to decide whether to hold an extraordinary leadership election, a virtual no-confidence motion against him if passed.
During Sunday's press conference, Ishiba stated that there was no need for Monday’s decision, AP reported.
Earlier in the day, Japan's NHK public television reported that the PM could resign to avoid a split within his ruling party. The decision also comes after the Ishiba's meeting with Japan’s former prime minister Yoshihide Suga and agricultural minister Shinjiro Koizumi on Saturday evening, the latter could now replace Ishiba as Japan's prime minister.
Another candidate is Sanae Takaichi. An LDP veteran, she has held various portfolios, including economic security and internal affairs minister. In 2024, she lost elections to Ishiba in the party leadership race in a run-off vote. If elected, she would become Japan's first female Prime Minister.
