Japanese leader Ishiba announces resignation after electoral defeats

Japanese Prime Minister Shigeru Ishiba announced Sunday that he would resign after less than a year in the role, following two crushing parliamentary defeats that cost the long-governing ruling party its coalition majority in both legislative chambers.

He said he made the decision upon the conclusion of tariff negotiations with the United States, which he had repeatedly called a “national crisis,” arguing that they needed to be handled under his administration.

The two nations signed a memorandum of understanding last week, and a U.S. executive order was also issued, outlining the investments that Japan plans to make in the U.S. in exchange for lower tariff rates.

After those steps, Ishiba said, he believed it was “the appropriate moment … to step aside and pass the baton to the next leader.”

“I felt that this matter had reached a significant milestone,” Ishiba said during a news conference Sunday. “I have consistently said that one should not cling to office, and that the right decision should be made at the appropriate time after fulfilling one’s responsibilities.”

Ishiba said he is stepping down as party leader, and therefore as leader of the country. His Liberal Democratic Party will now decide when to hold an election to select his successor.

His resignation exacerbates an unusual period of political uncertainty in Japan, one of the world’s most stable democracies and a major U.S. security ally where the ruling LDP has remained in power almost uninterrupted for nearly seven decades.

Ishiba took power in October promising to tackle rising prices and to reform his party, which had been struggling after a fundraising scandal.

But shortly after taking the helm, the party lost its absolute majority in the more powerful lower house of parliament for the first time in 15 years.

The loss significantly weakened Ishiba’s standing, but then came the blow of the July upper house election loss, leaving the party without a coalition majority in either chamber of parliament after governing almost continuously since 1955.

Ishiba had resisted calls for his resignation. But momentum began to build within some parts of the party to push for his ouster. The LDP had been set to decide on Monday whether to hold a special election to potentially remove Ishiba.

The instability comes as Japan deals with an unpredictable U.S. president in the trade negotiations and increasing security threats from China.

Ishiba said he regretted that he could not restore trust in politics, particularly regarding the role of money - a reference to the fundraising scandal that had embroiled his party. He said he is concerned about the party’s future in the absence of true reform.

“Our Liberal Democratic Party must take responsibility and draw a clear line,” Ishiba said. “The LDP must never be a party that acts only for immediate gain or for self-interest.”

Ishiba apologized to the nation for his decision to resign, saying he would spend his remaining days as prime minister focusing on issues voters care about.

“To the people of Japan, I deeply apologize for having to resign in this manner. I am truly sorry,” Ishiba said.