TOKYO: Japan’s incoming prime minister Sanae Takaichi has approached an opposition party about expanding the governing coalition to secure a parliamentary majority.
The Liberal Democratic Party and its junior partner Komeito have held minority status in both parliamentary chambers since recent elections, complicating legislative passage.
Conservative leader Takaichi became LDP president on Saturday and is expected to become Japan’s first female prime minister next week, replacing Shigeru Ishiba.
Takaichi met Democratic Party for the People leader Yuichiro Tamaki the following day to discuss coalition expansion according to major Japanese newspapers.
Both politicians have previously advocated similar policies including aggressive fiscal spending, tax cuts for economic growth, and stricter foreign worker regulations.
Takaichi has expressed her desire to expand the existing coalition potentially before her official appointment as prime minister.
Her appointment boosted stock markets on Monday while bond yields increased amid concerns about spending impacts on public finances and inflation.
A closely watched 30-year government bond auction ultimately attracted solid demand despite initial investor concerns.
Takaichi’s appointment of former finance minister Shunichi Suzuki as LDP secretary general signaled market stability intentions to investors.
The LDP-Komeito coalition has governed Japan almost continuously since their partnership began in 1999.
Many Buddhist-backed Komeito members have expressed anxiety about Takaichi’s staunch conservative policies including visits to the Yasukuni war shrine.
Komeito chief Tetsuo Saito revealed his party’s concerns about the LDP’s recent political slush fund scandal following his meeting with Takaichi on Saturday.
He emphasized that coalition administration would be impossible without addressing these significant worries among party supporters.
Saito also cautioned against rapid coalition expansion without substantial policy coordination between parties.
He noted that forming a governing coalition requires both policy and ideological unity, describing this as a challenging task.
Senior officials from both coalition parties were scheduled to meet on Tuesday to discuss these matters. – AFP