The Fumio Kishida era in Japan that began nearly three years ago is coming to an end. The incumbent Prime Minister announced on Wednesday, August 14, that he was withdrawing from the race to lead his political party, the Liberal Democratic Party (PLD).

“In this presidential election [du parti]It is important to show people that PLD is changing. The most obvious first step to show that PLD will change is for me to step down. “I will not contest for the post of President in the next election,” he said. The LDP’s, Fumio Kishida said at a press conference.

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“Politics is possible only with the faith of the people, and I have taken this heavy decision with the firm belief that we will move forward with political reform.”He added.

Falling popularity rating

Fumio Kishida, 67, has been in office since October 2021, and his popularity has been greatly weakened by inflation hitting Japanese households and political-financial scandals plaguing the PLD. His government’s approval rating has stagnated at around 25% this year, according to an NHK poll.

The world’s fourth-largest economy is struggling to get back on track after the Covid-19 pandemic, with industrial production down 0.7% in the first quarter. In November 2023, Mr. As Kishida tried to reduce inflationary pressure, he announced a stimulus package worth more than 17 trillion yen at the time (about 106 billion euros). The Japanese, who have seen prices stagnate for years, have struggled with their upswing since Russia’s invasion of Ukraine in 2022, raising energy costs.

Despite some recovery in recent weeks, the yen has fallen sharply against the dollar, making it one of the world’s worst-performing currencies over the past year. While this is mostly good news for Japanese exporters, it also makes imports more expensive and stokes inflation.

Fumio Kishida, who oversaw improved relations with South Korea, could theoretically rule until the fall of 2025. But for months, his conservative right-wing party has been dogged by a scandal related to political funding. At the heart of the matter is alleged PLD payments to members, accused of exceeding ticket sales quotas for fundraisers.

A united spirit

Once he came to power, Mr. Kishida appeared to be the PLD’s compromise choice. Elected to the lower house in Hiroshima (West) since 1993, the official – like his father and grandfather before him – has developed a sense of consensus in the absence of concrete charisma.

As he leads only a small moderate parliamentary wing of the PLD, he has had to make promises to other, more powerful currents of his party, especially its ultranationalist faction controlled by his former mentor and ex-prime minister Shinzo Abe, to his assassination in 2022.

Fumio Kishida’s decision to leave the PLD’s leader and therefore the government opens a race for his successor that promises to be inconclusive. No leader is in sight to replace him. “I believe that in this election for president, those who believe they have what it takes will seriously raise their hands and engage in serious debate.”Fumio Kishida said.