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Japanese Prime Minister Fumio Kishida has announced that he will not resign.
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His decision follows a financial scandal involving lawmakers from his Liberal Democratic Party.
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The LDP has ruled Japan almost continuously since 1955.
Japan’s prime minister announced on Wednesday that he would resign after bowing to domestic political pressure.
Fumio Kishida announced his resignation at a press conference, saying he would not run for the leadership of his Liberal Democratic Party in the upcoming elections.
The decision means that a successor will be chosen to take over from him as prime minister, without holding a general election.
Kishida resigned under pressure from a series of scandals.
At the press conference, he said he hoped his departure would “make the public realize that the LDP has changed.” according to the Japanese news agency Kyodo.
He said he took personal responsibility for a financial scandal in which LDP lawmakers were accused of taking personal bribes from political funds.
Kishida’s party has been in power in Japan almost continuously since 1955.
In 2021, he became prime minister, succeeding his predecessor Yoshihide Suga.
Before that, Japan was led for eight years by Shinzo Abe, famous for his Abenomics approach to the Japanese economy.
Abe was murdered in July 2022 while speaking at a campaign rally.
Read the original article at Company Insider