Kishida steps down as party leader, and Japan is set to have a new PM

The leader of the ruling Liberal Democratic Party (LDP), Fumio Kishida, Japan's prime minister, has decided not to run for reelection because the party needed a "new start."

After the party chooses a new leader in September, the 67-year-old LDP veteran is expected to resign as prime minister. Rising living expenses, a weakening yen, and a corruption investigation involving Mr. Kishida's party have all contributed to a decline in support for the prime minister since 2021. Last month, his approval rating fell to 15.5%, the lowest level for a prime minister in over a decade.

Mr. Kishida stated that it was imperative to demonstrate to the public in the approaching presidential election that the Liberal Democratic Party will be changing during a news conference on Wednesday to announce his decision.

Within the party, there have been skeptics about Mr. Kishida's ability to guide the LDP to victory in the upcoming general election, scheduled for 2025. Since 1955, the party has had nearly constant power. LDP leaders were nonetheless taken aback by Mr. Kishida's declaration. A high-ranking official told NHK that he had attempted to convince Mr. Kishida to stand for public office, but the prime minister objected, calling it "irresponsible."

A party member from Mr. Kishida's camp referred to the decision as "extremely regrettable and unfortunate," noting that although the PM had a strong track record in domestic politics, defense policy, and foreign policy, he was compelled to [stand down] because of the conflict between politics and money.