Japan Parliament

Japan PM Ishiba open to more stimulus but rules out sales tax cut

Speaking in parliament, Ishiba said the government "won't hesitate to take additional measures" to ease the pain on the economy from higher US tariffs

Japan presses US for swift tariff talks amid rising business losses

The talks come as Japan continues to push for exemptions from US tariffs, including a 25 per cent duty on global auto imports that began in early April

MP CM Mohan Yadav calls Japan trip 'extremely pleasant, successful'

Madhya Pradesh Chief Minister Mohan Yadav on Saturday returned to India after his four-day trip to Japan ahead of the state's investor summit. Taking to social media platform X, Yadav said the four-day Japan visit was "extremely pleasant and successful". This Japan visit will create new dimensions of investment in Madhya Pradesh and the relations between the two countries will become stronger with the participation of Japan as a partner country in the 'Global Investors Summit' to be held in Bhopal in February, he wrote. During his journey, which was primarily aimed at attracting investment for the upcoming Global Investors Summit (GIS) scheduled for February 24-25 in Bhopal, Yadav engaged with leading industrialists and pitched the state's potential, inviting them to invest in Madhya Pradesh. Upon his arrival in Tokyo on Tuesday, he received a warm welcome from the Indian community, who honoured him with traditional gestures. Yadav engaged in crucial meetings with the "Friends of

Japan cabinet okays record defence budget of $55 bn amidst regional threat

The Japanese Cabinet on Friday approved a record 8.7 trillion yen ($55 billion) defence budget for 2025 as Japan accelerates building up its strike-back capability with long-range cruise missiles and starts deploying Tomahawks to fortify itself against growing threats from China, North Korea and Russia. The Cabinet-endorsed draft defence budget marks the third year of Japan's ongoing five-year military buildup under the national security strategy adopted in 2022. The defense spending is part of the more than 115 trillion yen ($730 billion) national budget bill also a record that requires parliamentary approval by March to be enacted. Japan is preparing to deploy US-made Tomahawks late in the fiscal year 2025 as part of its ongoing effort to acquire strike-back capability with long-range missiles that can hit distant targets. The budget allocates 940 billion yen ($6 billion) for the so-called standoff defence system that also includes long-range missiles, satellite constellation and

Japan to unveil record $735 bn budget with ramped-up defence spending

The increase from the current fiscal year's initial annual budget of ¥112.6 trillion is around 2.6 per cent, largely in line with the government's forecast for overall inflation in this fiscal year

Japan's budget to hit record, but with reduced new bond issuance: Report

Tax revenue is projected to rise 8.8 trillion yen from this year's initial estimate to a record 78.4 trillion yen, thanks in part to a recovery in corporate profits, according to the draft

Japan's reelected PM Ishiba vows to step up reform against funds misuse

Japan's Prime Minister Shigeru Ishiba pledged to take tougher measures against misuse of political funds after he was reelected by parliament Monday following a major loss in the polls last month by his governing coalition. Ishiba's Liberal Democratic Party and its junior partner Komeito together lost a majority in the 465-seat Lower House, the more powerful of Japan's two-house parliament, in the October 27 election. The defeat was blamed on voter outrage over financial misconduct by his party. We must remind ourselves of the basics that politics is for the people, as we tackle political and party reforms," Ishiba said. He said that in response to the poor election results, "We must be able to have empathy for the pain, sorrow and anger of the people. A special parliamentary session convened Monday to pick a new leader in a vote required within 30 days of a general election. Ishiba beat top opposition leader Yoshihiko Noda 221-160 in the first runoff in 30 years. In his second ...

Japan PM Ishiba survives parliament vote as protectionist Trump looms large

Former Prime Minister Yoshihiko Noda, the head of the opposition Constitutional Democratic Party, the biggest party after the LDP, is also expected to be among the candidates put forward as premier

Ruling LDP loses lower house majority exacerbating challenges for new PM

Support from smaller parties, such as the Democratic Party for the People (DPP) or the Japan Innovation Party (JIP), who won 28 and 38 seats respectively, could now be key for the LDP

Asian shares rise as yen dips after Japan's ruling party loses majority

Asian shares rose on Monday as the yen dipped in the midst of political uncertainty after Japan's ruling party lost its majority in Parliament's lower house in weekend elections. In currency trading, the US dollar rose to 153.76 Japanese yen from 152.24 yen. It was trading at 140-yen levels last month. The euro cost USD 1.0796, down form USD 1.0803. The weak yen is a boon for Japan's giant exporters like Toyota Motor Corp., whose stock gained 3.7 per cent in Tokyo trading. Nintendo Co. gained 2.6 per cent, while Sony Corp. rose nearly 2.0 per cent. Japan's ruling Liberal Democratic Party is still the top party, but several members failed to win reelection in Sunday's vote after a scandal involving unreported campaign funding. All told, the ruling coalition with junior partner Komeito secured 215 seats, down sharply from the majority of 279 it previously held, according to Japanese media. A change of government is not expected but the LDP may need a third coalition partner. Tokyo .

Japan's ruling party braces for blow to comfortable majority in lower house

The results could weaken Ishiba's grip on power, possibly leading Japan into political uncertainty, though a change of government was not expected

Campaigning kicks off for Japan's parliamentary election on October 27

Official campaigning for Japan's October 27 parliamentary election began on Tuesday with new Prime Minister Shigeru Ishiba seeking a mandate for his policies and for reforms after the governing party's political funds scandal. More than 1,300 candidates were expected to enter the races for the 465-seat Lower House before registration closes later Tuesday. Ishiba called the snap election after he took office as prime minister on October 1. As customary for Liberal Democratic Party leaders over the past decade, he was to start his campaign in Fukushima to renew his pledge to support the area's recovery from the 2011 nuclear disaster. With the early election, Ishiba is seeking to secure a majority in the lower house, the more powerful of Japan's two parliamentary chambers, before the congratulatory mood fades. The move has been criticized as prioritizing an election rather than policies and for allowing little debate. A majority for the ruling coalition would be 233 seats between his

Japan's Shigeru Ishiba confirmed as prime minister, set to unveil cabinet

In his victory speech on Friday, he spoke about the need to beef up Japan's security after recent territorial incursions by Chinese and Russian military vessels

Japan PM Kishida steps down before likely successor Ishiba takes office

Japan's Prime Minister Fumio Kishida resigned with his Cabinet, paving the way for his likely successor Shigeru Ishiba to take office. Chief Cabinet Secretary Yoshimasa Hayashi announced that Kishida and his ministers stepped down at a Cabinet meeting on Tuesday. Ishiba was chosen as the governing Liberal Democratic Party's leader on Friday to replace Kishida, who announced in August his resignation at the end of his three-year term. Ishiba is assured to be prime minister later on Tuesday in a vote by parliament because it is dominated by his party's ruling coalition. Ishiba will then announce his new Cabinet later in the day. Kishida took office in 2021 but is leaving so his party can have a fresh leader after his government was dogged by scandals. On Monday, Ishiba said he planned to call a parliamentary election to be held on October 27 after he is formally chosen as prime minister. "I believe it is important to have the new administration get the public's judgement as soon a

Japan PM Fumio Kishida to step down in Sept as scandals grow

Japanese Prime Minister Fumio Kishida, in a surprise move Wednesday, announced he will not run in the upcoming party leadership vote in September, paving the way for Japan to have a new prime minister. Kishida was elected president of his governing Liberal Democratic Party in 2021 and his three-year term expires in September. His drop out of the race means a new leader who wins the party vote will succeed him as prime minister because the LDP controls both houses of parliament. Kishida, stung by his party's corruption scandals, has suffered dwindling support ratings that have dipped below 20%. He announced he will not run in the September vote, allowing for a fresh leader in an effort to show that his party is changing for the better. Kishida will support a new leader, he said. Local election losses earlier in the year eroded his clout, and LDP lawmakers have voiced the need for a fresh face ahead of the next general election. Since the corruption scandal broke, Kishida has remov

Women politicians' share rises in Japanese politics, but challenges remain

Eight years ago, Yuriko Koike became the first woman to lead Tokyo, beating her male predecessor. She won her third term as governor on Sunday, and one of her closest rivals was a woman. Multiple women competing for a top political office is still rare in Japan, which has a terrible global gender-equality ranking, but Koike's win highlights a gradual rise in powerful female officials and a society more open to gender balance in politics. That said, even if a woman eventually becomes prime minister, politics here is still overwhelmingly dominated by men, and experts see a huge effort needed for equal representation. There are growing expectations for women to play a greater role in politics, said parliamentarian Chinami Nishimura, a senior official with the main opposition Constitutional Democratic Party of Japan. In politics or parliament, which are still largely considered men's work, it is extremely meaningful for women to show their presence and have our voices heard. Nishimura,

Japan should let married women keep their surname, says business lobby

Japan is the only country that still enforces such a rule, according to Keidanren's research, and it has failed to budge despite multiple calls from a UN panel on discrimination against women

Trilateral talks: South Korea, Japan push China on SCS, Taiwan issues

Chinese and Japanese leaders were set to arrive in Seoul and meet with South Korea's president separately on Sunday, a day before they gather for their first trilateral meeting in more than four years. No major announcement is expected from Monday's trilateral South Korea-China-Japan meeting. But just resuming their highest-level, three-way talks is a good sign and suggests the three Asian neighbours are intent on improving their relations. A trilateral leaders' meeting was supposed to take place annually following their inaugural gathering in 2008. But the meeting has stalled since the last one in December 2019 in Chengdu, China because of the COVID-19 pandemic and complex ties among the three countries. After their arrivals in Seoul on Sunday, Chinese Premier Li Qiang and Japanese Prime Minister Fumio Kishida are to hold bilateral talks with South Korean President Yoon Suk Yeol to discuss ways to promote cooperation and other issues, according to South Korean officials. Li and ...

Japan PM Kishida unveils a framework for global regulation of generative AI

Japanese Prime Minister Fumio Kishida unveiled an international framework for regulation and use of generative AI on Thursday, adding to global efforts on governance for the rapidly advancing technology. Kishida made the announcement in a speech at the Paris-based Organization for Economic Cooperation and Development. Generative AI has the potential to be a vital tool to further enrich the world, Kishida said, according to a transcript of his speech provided in advance. But we must also confront the dark side of AI, such as the risk of disinformation." When Japan chaired the Group of Seven leading industrialized nations last year, it launched a Hiroshima AI process to draw up international guiding principles and a code of conduct for AI developers. Some 49 countries and regions have signed up to the voluntary framework, called the Hiroshima AI Process Friends Group, Kishida said, without naming any. They will work on implementing principles and code of conduct to address the risks

BOJ Guv Kazuo Ueda signals chance of rate hike if yen moves affect prices

The BOJ releases fresh quarterly growth and inflation forecasts at its next meeting in April 25-26. Its board also holds rate-setting meetings in June, July, October and December