In a shocking turn of events, Japan's Komeito political party is reportedly leaving the country's ruling coalition led by the Liberal Democratic Party (LDP), potentially derailing Sanae Takaichi's bid to become Japan's first female prime minister.
The LDP and Komeito have been political allies since 1999, but Komeito Chief Representative Tetsuo Saito expressed dissatisfaction with the LDP's handling of political funding issues, according to public broadcaster NHK. This could mark the end of this long-standing alliance, just days before an Oct. 15 parliamentary vote to select Japan's next prime minister.
Nikkei reported earlier that Komeito had reservations about the alliance and that Takaichi's appointment as Japan's next prime minister would be delayed. Jesper Koll, expert director at Monex Group, believes that Komeito has 'outlived its purpose' for the LDP and that the party has been losing supporters steadily for the past decade.
Takaichi, the first woman to lead the LDP, won the party leadership race on Oct. 4, following Prime Minister Shigeru Ishiba's resignation after the LDP lost its majority in both houses of parliament. Takaichi is widely seen as an apostle of 'Abenomics,' the economic strategy of the late prime minister Shinzo Abe, which advocated loose monetary policy, fiscal spending, and structural reforms.
The withdrawal of Komeito from the political alliance may seem damaging for Takaichi and the LDP, but Naka Matsuzawa, Chief Strategist at Nomura Securities, believes that Takaichi remains on course to become Japan's first female prime minister. The opposition parties are not united to vote for someone else, and her government will have to seek out different partners to pass bills.
The LDP and Komeito currently hold 215 seats in the 465-seat chamber, short of the 233 seats needed for a majority. Komeito's exit would leave the LDP with 191 seats, but it would still be the largest party in the Lower House. Saito confirmed that Komeito would not back Takaichi in the parliamentary vote on the next prime minister.
Takaichi's rise comes at a time of economic strain at home and tense relations abroad. She has called for a hardline stance towards China and favors revising Japan's pacifist constitution, especially Article 9, which renounced Japan's right to wage war. Her previous visits to the controversial Yasukuni Shrine, which honors Japan's war dead, including war criminals, have drawn criticism from China and South Korea.
But here's where it gets controversial: Takaichi's stance on China and constitutional revision could further strain Japan's relations with its neighbors and potentially lead to diplomatic tensions. And this is the part most people miss: Takaichi's appointment as prime minister could also impact the US-China relationship, as Japan is a key US ally in the region.
What do you think about Takaichi's bid for the premiership and the potential implications for Japan and its relations with other countries? Share your thoughts in the comments below.
