Japanese Prime Minister Fumio Kishida has announced that he will not seek re-election in the ruling Liberal Democratic Party's leadership contest next month, as reported by NHK News. During a news conference on Wednesday, Kishida emphasized the importance of showing the public that the Liberal Democratic Party (LDP) is capable of change. He stated that a transparent, open election with free debate is crucial, and stepping back from the race is a clear signal of the party’s commitment to renewal.

Kishida praised his administration's achievements, highlighting efforts to boost wages and investment, which he credited with ending 30 years of deflation. He also pointed to the government's transformation of its energy policy to address the rising electricity demand and the implementation of large-scale measures to counter the declining birthrate. Additionally, Kishida noted that his administration had significantly bolstered Japan's defense capabilities. He expressed pride in these accomplishments and voiced his support for a new leader to take the party forward.

The decision comes in the wake of a political funding scandal within the LDP, which involved allegations of unreported political funds raised through the sale of tickets for party events, affecting over 80 LDP lawmakers. The scandal, which emerged late last year, has led to a sharp decline in approval ratings for Kishida's Cabinet, dropping to the 20 percent range.

Kishida's choice to step down has drawn mixed reactions from Japanese lawmakers. One senior LDP member told NHK that they had repeatedly urged Kishida to run in the election, arguing that it is irresponsible to leave unresolved issues behind. Despite stepping down, Kishida stated that he will continue to serve as a "rank-and-file" member of the LDP, though he declined to endorse any specific candidate for the next party leader and prime minister.

Several potential candidates have emerged for the LDP leadership race. Former Defense Minister Shigeru Ishiba has expressed his intention to run, while Digital Minister Taro Kono has informed LDP Vice President Taro Aso of his plans to enter the race. Other potential contenders include LDP Secretary General Toshimitu Motegi, Economic Security Minister Sanae Takaichi, former Environment Minister Shinjiro Koizumi, and former Economic Security Minister Takayuki Kobayashi. Kishida, who assumed the role of Prime Minister in October 2021, made his announcement following local election losses earlier in the year, which weakened his political influence and fueled calls within the LDP for fresh leadership ahead of the next general election.