Japanese Prime Minister Shinzo Abe is set to win control of both houses of parliament, giving his Liberal Democratic Party-led coalition the strongest grip on power since 2007. Winning the election will be the easy part.
Prime Minister Shinzo Abe is riding a popularity wave unseen by six immediate predecessors as he pushes his Bank of Japan nominees through a divided parliament, raising the odds of the ruling party winning a July election.
Prime Minister Yukio Hatoyama said he will consider his political future and do “what’s best for the people of Japan” after polls showed four in five voters want him to step down six weeks before mid-term elections.
The Democratic Party of Japan came to power in 2009 pledging to restore vitality to a country burdened by deflation, an aging population and the world’s largest debt . Now, the party itself needs resuscitation.
One year after Japan’s most powerful earthquake ever, the nation’s top two political parties have record-low approval ratings, signaling widespread discontent at the government’s response to the disaster.
Yukio Hatoyama ’s resignation as prime minister is “very positive” for Japanese stocks because his replacement is likely to strengthen ties with the U.S. government, said Ryoji Musha , a strategist who predicted the global equities rally last year.