Japan’s Komeito party to leave ruling coalition with LDP under Takaichi
Japan’s Komeito party has decided to exit the ruling coalition led by the Liberal Democratic Party (LDP), NHK reported on Friday, marking a historic break in an alliance that has governed the country for all but three years since 1999.
Komeito leader Tetsuo Saito informed newly elected LDP chief Sanae Takaichi of the decision to end their 26-year partnership during a meeting on Friday. The move could complicate Takaichi’s path to becoming Japan’s next prime minister, as her appointment requires parliamentary support from the coalition partner, News.Az reports, citing Reuters.
The LDP currently holds 296 of 713 seats across both houses of parliament, while Komeito controls 45 seats. It remains unclear whether Komeito will continue to support the LDP in parliamentary votes, a factor that may influence Takaichi’s chances in the upcoming approval vote expected later this month.
Takaichi’s recent election as LDP leader had initially boosted markets, as investors anticipated continued fiscal stimulus under her support of former Prime Minister Shinzo Abe’s “Abenomics” policies. Komeito’s departure could now trigger a reversal of the so-called “Takaichi trade,” which had driven optimism around near-term stimulus measures, sending stocks higher and weakening the yen.
The center-right coalition has dominated Japan’s government since 1999, except for the 2009–2012 period, when the Democratic Party held power.
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