The Prague Post - Japan PM hangs on after election debacle

EUR -
AED 4.23959
AFN 73.310068
ALL 95.900584
AMD 433.624966
ANG 2.066497
AOA 1058.597338
ARS 1603.777961
AUD 1.671235
AWG 2.077945
AZN 1.964239
BAM 1.956815
BBD 2.319924
BDT 141.333324
BGN 1.97325
BHD 0.435917
BIF 3422.501489
BMD 1.154414
BND 1.483538
BOB 7.959129
BRL 5.954816
BSD 1.151808
BTN 107.290663
BWP 15.802267
BYN 3.41303
BYR 22626.512719
BZD 2.316522
CAD 1.606898
CDF 2650.534376
CHF 0.921326
CLF 0.02681
CLP 1058.597489
CNY 7.948836
CNH 7.94571
COP 4227.994784
CRC 535.9711
CUC 1.154414
CUP 30.591969
CVE 110.322236
CZK 24.510172
DJF 205.108188
DKK 7.472885
DOP 69.625217
DZD 153.609032
EGP 62.602023
ERN 17.316209
ETB 179.858637
FJD 2.60182
FKP 0.872043
GBP 0.872165
GEL 3.099593
GGP 0.872043
GHS 12.66457
GIP 0.872043
GMD 85.426442
GNF 10104.023192
GTQ 8.811571
GYD 241.075071
HKD 9.047661
HNL 30.597079
HRK 7.53723
HTG 151.173846
HUF 385.365873
IDR 19610.029161
ILS 3.619722
IMP 0.872043
INR 106.992811
IQD 1508.982866
IRR 1522816.254665
ISK 144.4164
JEP 0.872043
JMD 181.593425
JOD 0.818525
JPY 184.256585
KES 149.84279
KGS 100.952112
KHR 4606.270046
KMF 492.934587
KPW 1038.955167
KRW 1742.530218
KWD 0.357106
KYD 0.959898
KZT 545.81317
LAK 25362.927345
LBP 103322.399474
LKR 363.414837
LRD 211.359654
LSL 19.573179
LTL 3.408684
LVL 0.698293
LYD 7.365885
MAD 10.821514
MDL 20.267041
MGA 4815.456563
MKD 61.671996
MMK 2423.952342
MNT 4131.380505
MOP 9.298924
MRU 45.757748
MUR 54.188078
MVR 17.847555
MWK 1997.218864
MXN 20.60259
MYR 4.653419
MZN 73.824597
NAD 19.572754
NGN 1591.648082
NIO 42.38107
NOK 11.249997
NPR 171.662829
NZD 2.023214
OMR 0.443924
PAB 1.151798
PEN 3.984967
PGK 4.982499
PHP 69.743338
PKR 321.38873
PLN 4.278085
PYG 7450.930113
QAR 4.199779
RON 5.097546
RSD 117.487414
RUB 92.536392
RWF 1682.258189
SAR 4.333957
SBD 9.28007
SCR 16.653351
SDG 693.802426
SEK 10.889748
SGD 1.484039
SHP 0.866109
SLE 28.455867
SLL 24207.495072
SOS 658.238646
SRD 43.118536
STD 23894.037272
STN 24.512292
SVC 10.078229
SYP 128.496955
SZL 19.565235
THB 37.63678
TJS 11.040228
TMT 4.051993
TND 3.395662
TOP 2.779551
TRY 51.477723
TTD 7.814156
TWD 36.889068
TZS 3001.476447
UAH 50.445734
UGX 4321.241876
USD 1.154414
UYU 46.644199
UZS 13994.260274
VES 546.488577
VND 30409.571329
VUV 137.780298
WST 3.202183
XAF 656.291802
XAG 0.015806
XAU 0.000247
XCD 3.119862
XCG 2.075877
XDR 0.816216
XOF 656.303178
XPF 119.331742
YER 275.500692
ZAR 19.575283
ZMK 10391.115992
ZMW 22.258741
ZWL 371.720809
  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSD

    0.1100

    22.26

    +0.49%

  • NGG

    1.1500

    87.99

    +1.31%

  • BCE

    -0.9300

    24.45

    -3.8%

  • GSK

    0.7000

    56.69

    +1.23%

  • BTI

    0.3900

    58.28

    +0.67%

  • CMSC

    0.0500

    22.04

    +0.23%

  • AZN

    2.7600

    203.49

    +1.36%

  • RELX

    0.3600

    33.59

    +1.07%

  • JRI

    0.0900

    12.61

    +0.71%

  • BCC

    -1.8800

    73.2

    -2.57%

  • VOD

    0.0800

    15.21

    +0.53%

  • RYCEF

    0.9000

    15.99

    +5.63%

  • RIO

    -0.3600

    94.45

    -0.38%

  • BP

    0.9500

    47.12

    +2.02%

Japan PM hangs on after election debacle
Japan PM hangs on after election debacle / Photo: Franck ROBICHON - POOL/AFP

Japan PM hangs on after election debacle

Japanese Prime Minister Shigeru Ishiba was clinging on Monday even after his coalition disastrously lost its upper house majority in elections, as painful new US tariffs loom.

Text size:

The Liberal Democratic Party (LDP), which has governed almost continuously since 1955, and its partner Komeito had to win 50 seats in Sunday's vote but they fell three short, national broadcaster NHK reported.

Voters angry at inflation turned to other parties on Sunday, notably the "Japanese first" Sanseito, which made strong gains with its "anti-globalist" drive echoing the agenda of populist parties elsewhere.

The election debacle comes only months after Ishiba's coalition was forced into a minority government in the more powerful lower house, in the LDP's worst result in 15 years.

But asked late Sunday if he intended to remain in office, Ishiba told local media: "That's right."

He told another channel that "the deadline of (US) tariffs is coming on August 1. Until then we have to do our best with our body and soul."

Ishiba is expected to inform a meeting of senior LDP figures on Monday that he will stay in office, Jiji Press reported.

If Ishiba does go, it was unclear who might step up to replace him now that the government needs opposition support in both chambers to pass legislation.

"Ishiba may be replaced by someone else, but it's not clear who will be the successor," Hidehiro Yamamoto, politics and sociology professor at the University of Tsukuba, told AFP.

- 'Japanese first' -

In the election 125 seats in the 248-seat upper house were contested in the election.

The coalition needed 50 of those up for grabs but NHK and others said they only won 47, with the LDP winning 39 and Komeito eight, giving them 122 deputies.

Second-placed was the Constitutional Democratic Party of Japan (CDP) which won 22 of those being contested followed by the Democratic Party For the People (DPP) with 17.

The right-wing Sanseito party won 14 seats.

Sanseito wants "stricter rules and limits" on immigration, opposes "radical" gender policies, and wants a rethink on decarbonisation and vaccines.

Last week, it was forced to deny any links to Moscow -- which has backed populist parties elsewhere -- after a candidate was interviewed by Russian state media.

The opposition is fragmented, and chances are slim that the parties can form an alternative government.

But pressure will grow on the coalition to cut or abolish consumption tax, something which Ishiba has opposed in view of Japan's colossal national debts of over 200 percent of gross domestic product.

After years of stagnant or falling prices, consumers in the world's fourth-largest economy have been squeezed by inflation since Russia's 2022 invasion of Ukraine.

- Trump tariffs -

In particular, the price of rice has doubled, squeezing many household budgets despite government handouts.

Voter Hisayo Kojima -- one of legions of older people in Japan's falling and ageing population -- said outside a voting station on Sunday that her pension "is being cut shorter and shorter".

Not helping is lingering resentment about an LDP funding scandal, and US tariffs of 25 percent due to bite from August 1 if there is no trade deal with the United States.

Japanese imports are already subject to a 10 percent tariff, while the auto industry, which accounts for eight percent of jobs, is reeling from a 25 percent levy.

Despite Ishiba securing an early meeting with US President Donald Trump in February, and sending his trade envoy to Washington seven times, there has been no trade accord.

US Treasury Secretary Scott Bessent said Friday after meeting Ishiba in Tokyo that a "mutually beneficial trade agreement... remains within the realm of possibility."

A.Slezak--TPP