Japan's Ruling LDP Coalition Risks Losing Majority for First Time Since 2009

Oct 27, 2024, 02:35 AM

Japanese voters went to the polls on Sunday in one of the most tightly contested Lower House elections in years. The ruling Liberal Democratic Party (LDP) and its coalition partner Komeito, which have been in power for all but four years since 1955, face the possibility of losing their majority in the parliament for the first time since 2009, according to early exit polls and projections. The LDP may lose around 50 seats amid public discontent over a slush funds scandal and rising living costs. The voter turnout rate was 29.01% as of 6 p.m., slightly lower than the previous election. This election could result in the LDP's worst performance since 2009 and may impact Japan's defense policy and planned tax hikes opposed by many opposition parties. Early projections indicate that the ruling coalition may fall short of the 233 seats needed to maintain a majority in the 465-seat chamber. The outcome is seen as a critical test for Japan's ruling party and could bring uncertainty to the country's political landscape and financial markets if the coalition fails to secure a majority.