Political Turmoil Rocks Japan as Ruling Parties Lose Majority
Japan
Highlights
The ruling Liberal Democratic Party (LDP) and Komeito lost their majority in Japan’s October 27 Lower House election, fomenting uncertainty over the future of the Ishiba Cabinet amid a dramatic loss of political leverage for the LDP.
Voters punished the ruling parties for their inadequate response to political slush-fund scandals – a problem made worse by pre-election revelations that the LDP secretly funneled cash to candidates who were supposed to be cut off as punishment for their transgressions.
With the opposition Constitutional Democratic Party of Japan (CDPJ) also now theoretically within reach of forming a government, the LDP and CDPJ are in a dogfight to convince two parties with casting votes — the Democratic Party for the People (DPFP) and Japan Innovation Party (Ishin) — to support their candidate for prime minister in a Diet vote that must be held by November 26.
“It has absolutely missed the best timing for an IPO,” said Jin Lu, senior vice president of The Asia Group ...
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Political Turmoil Rocks Japan as Ruling Parties Lose Majority
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