logo
‘Japanese first' party rises as Ishiba fights for political survival

‘Japanese first' party rises as Ishiba fights for political survival

Malay Mail20-07-2025
TOKYO, July 20 — Japanese Prime Minister Shigeru Ishiba faces a reckoning from voters on Sunday with upper house elections that could end his premiership and see a right-wing populist party make inroads.
With many Japanese hurt by rising prices, especially for rice, opinion polls suggest that Ishiba's governing coalition could lose its majority in the upper house.
This could be the final nail for Ishiba, having already been humiliatingly forced into a minority government after lower house elections in October.
'Ishiba may need to step down,' Toru Yoshida, a politics professor at Doshisha University, told AFP.
Japan could 'step into an unknown dimension of the ruling government being a minority in both the lower house and the upper house, which Japan has never experienced since World War II,' Yoshida said.
Ishiba's centre-right Liberal Democratic Party (LDP) has governed Japan almost continuously since 1955, albeit with frequent changes of leader.
Ishiba, 68, a self-avowed defence 'geek' and train enthusiast, reached the top of the greasy pole last September on his fifth attempt and immediately called elections.
But this backfired and the vote left the LDP and its small coalition partner Komeito needing support from opposition parties, stymying its legislative agenda.
'Energy prices have swung sharply in recent months, as the government has flip-flopped between removing aid for household energy bills and adding new supports,' said Stefan Angrick at Moody's Analytics.
Trumped
Out of 248 seats in the upper house, 125 are up for grabs on Sunday. The coalition needs 50 of these to keep a majority.
Not helping is lingering resentment about an LDP funding scandal, and US tariffs of 25 per cent due to bite from August 1 if there is no trade deal with the United States.
Japan's massive auto industry, which accounts for eight per cent of the country's jobs, is reeling from painful levies already in place.
Weak export data last week stoked fears that the world's fourth-largest economy could tip into a technical recession.
Despite Ishiba securing an early meeting with US President Donald Trump in February, and sending his trade envoy to Washington seven times, there has been no accord.
Trump last week poured cold water on the prospects of an agreement, saying Japan won't 'open up their country'.
'We will not easily compromise,' Ishiba said earlier this month.
Ishiba's apparently maximalist strategy of insisting all tariffs are cut to zero – although this could change post-election – has also drawn criticism.
'How well his government is able to handle negotiations over US tariffs is extremely important, as it's important for the LDP to increase trust among the public,' Masahisa Endo, politics professor at Waseda University, told AFP.
'Japanese first'
The last time the LDP and Komeito failed to win a majority in the upper house was in 2010, having already fallen below the threshold in 2007.
That was followed by a rare change of government in 2009, when the now-defunct Democratic Party of Japan governed for a rocky three years.
Today the opposition is fragmented, and chances are slim that the parties can form an alternative government.
One making inroads is the 'Japanese-first' Sanseito, which opinion poll suggest could win more than 10 upper house seats, up from two now.
The party wants 'stricter rules and limits' on immigration, opposes 'globalism' and 'radical' gender policies, and wants a re-think on decarbonisation and vaccines.
Last week it was forced to deny any links to Moscow – which has backed populist parties elsewhere – after a candidate was interviewed by Russian state media.
'They put into words what I had been thinking about but couldn't put into words for many years,' one voter told AFP at a Sanseito rally. — AFP
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

YouTube generation propels Japan's anti-foreigner politics into mainstream
YouTube generation propels Japan's anti-foreigner politics into mainstream

New Straits Times

time3 hours ago

  • New Straits Times

YouTube generation propels Japan's anti-foreigner politics into mainstream

YUTA Kato is increasingly annoyed by foreigners ignorant of Japan's social etiquette, whether that involves blocking the streets near his work in Tokyo's upscale Ginza district or distracting commuters by playing loud videos on their phones. The 38-year-old hairdresser is among a growing number of Japanese voters drawn to the right-wing Sanseito party, whose warnings about foreigners helped it establish a strong foothold in an upper house election recently. "It is not about discrimination, it's just like, why don't they notice?" said Kato, who, like many Sanseito supporters, obtains his information from YouTube and other social media sites, a space the party has utilised to amplify its "Japanese First" message. Japan's foreign-born residents account for just three per cent of the total population, a fraction of the corresponding proportion in the United States and Europe, but record numbers of tourists in recent years have made foreigners more visible in major cities. While Sanseito largely avoids identifying specific immigrant groups, Romeo Marcantuoni, a Tokyo-based academic who has studied the party, said it tapped latent concerns ranging from badly-behaved tourists to conspiracy theories about sneaking Chinese influence. Kato said he believed the Chinese, the biggest cohort of foreign residents in Japan and among the largest visitor groups, were quietly taking over the country. Chinese are also often the focal point for anti-immigrant rhetoric propagated online. Sanseito leader Sohei Kamiya and other party lawmakers and candidates have raised concerns about Chinese buying up land and resources in Japan. One of the party's policies listed on its website is to "stop the silent invasion of Japan by foreign forces". The party did not immediately respond to a request for comment and Kamiya has previously denied criticism that it is xenophobic. Sanseito is most popular among 18 to 39-year-olds, with men favouring the party more than women, according to a poll conducted by public broadcaster NHK, a trend increasingly seen among support for right-wing parties in democracies worldwide. In contrast, support for Ishiba's ruling Liberal Democratic Party (LDP), which lost its majority in the election, was deepest among those aged over 70 with no clear gender divide, the NHK poll showed. Sanseito's presence online had given them visibility among younger voters that the LDP had struggled to reach, Kato said. The party's official YouTube channel has three times as many followers as the LDP's, with engagement in their content far higher than other parties, a study by Asahi newspaper found. "They are the party of YouTube," said Jeffrey Hall, a lecturer at Kanda University of International Studies who has authored a book on right-wing politics in Japan. YouTube did not respond to emails seeking comment on Sanseito's use of the platform. On its community guidelines page, YouTube says it closely monitors content and removes videos it deems to promote "harmful or dangerous behaviour." Birthed during the Covid-19 pandemic when they spread conspiracy theories about vaccinations, Sanseito has broadened its appeal with its tough immigration policies and pledges to help households struggling with rising prices. It also wants to scrap Japan's pacifist constitution and restore the Emperor's authority, fringe ideas promoted by other right-wing groups that regularly drive around Japan's cities in black trucks blaring imperial-era military songs. While that megaphone politics has long been largely ignored by the Japanese, Sanseito has set its sights on emulating the successes of other far-right groups in Europe, such as Germany's AfD and Britain's Reform UK. At a rally held outside Tokyo's bustling Shimbashi train station recently, crowds clapped and cheered some of Sanseito's newly elected lawmakers. "They're going to get things done," said Eriko Harada, 47, a housewife wearing a kimono and a headband emblazoned with the words "Samurai Spirit", who said she voted for the first time this year. Sanseito's rise has sparked a backlash by those who fear the party is normalising xenophobia. The rally attracted dozens of protesters who tried to drown out the speakers. "It is people falling for lies and displacing their frustrations — economic hardship, political alienation — onto others," said Miroko Kato, a 42-year-old haiku poet among the protestors.

Ringgit retreats as investors watch for US central bank policy updates
Ringgit retreats as investors watch for US central bank policy updates

Malay Mail

time7 hours ago

  • Malay Mail

Ringgit retreats as investors watch for US central bank policy updates

KUALA LUMPUR, July 29 — The ringgit ended lower against the US dollar today as market traders await the outcome of the United States (US) Federal Open Market Committee (FOMC) meeting, said an economist. The two-day FOMC meeting, taking place from July 29 to 30 in Washington, is expected to provide key guidance on the US Federal Reserve's monetary policy direction. At 6 pm, the local note eased to 4.2320/2365 versus the greenback from yesterday's close of 4.2275/2345. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that in the meantime, the US labour market data will be the key focus tonight when the Job Openings and Labor Turnover Survey (JOLTS) will be published. 'Consensus estimates have pegged the number of jobs openings to decline to 7.55 million in June from 7.769 million in the prior month,' he told Bernama. Thus far, he said, the US Dollar Index (DXY) has risen to as high as 99.01 but later hovers around 98.816 points. At the close, the ringgit ended higher against major currencies. It rose against the Japanese yen to 2.8479/8511 from 2.8497/8546 at the close on Monday, appreciated versus the British pound to 5.6518/6578 from 5.6720/6814 last week, and edged higher against the euro to 4.8990/9042 from 4.9331/9412 previously. The ringgit was also mostly higher against regional peers. It was higher against the Indonesian rupiah at 257.8/258.2 from yesterday's 258.3/258.9, gained against the Singapore dollar to 3.2875/2913 from 3.2917/2974, improved against the Philippine peso to 7.38/7.39 from 7.39/7.41, but weakened versus the Thai baht to 13.0537/0740 from 13.0511/0787 previously. — Bernama

Bursa stays bullish for FY2025 as fund managers hold record cash levels, forecasts return of foreign funds, IPO boom
Bursa stays bullish for FY2025 as fund managers hold record cash levels, forecasts return of foreign funds, IPO boom

Malay Mail

time8 hours ago

  • Malay Mail

Bursa stays bullish for FY2025 as fund managers hold record cash levels, forecasts return of foreign funds, IPO boom

KUALA LUMPUR, July 29 — Bursa Malaysia Bhd is maintaining its pre-tax profit (PBT) target of between RM369 million and RM408 million for the financial year ending Dec 31, 2025 (FY2025). Its chief executive officer, Datuk Fad'l Mohamed, said the projection remains amid strong liquidity from the domestic market and stable economic growth. He pointed out that the target is part of Bursa Malaysia's headline key performance indicator for the year and sees its earnings would potentially come from its derivatives and non-trading revenues to remain strong in the second half of its FY2025. Fad'l added that Bursa Malaysia anticipates a double-digit growth in its non-trading revenues over the next three years. 'Local investors, in particular, are noteworthy. I understand that many fund managers are currently holding cash. Data indicates that as of May, fund managers are holding approximately 11.5 per cent cash, which is the highest level since January 2024. 'We hope to see a greater level of trading activities once that cash is deployed,' he told reporters after announcing Bursa Malaysia's financial performance results for the first half of 2025 today. Fad'l said a better performance for FY2025 would also be supported with favourable aspects such as the attractive valuation of FBM KLCI, which currently stood at a discount of 17 per cent to its 10-year mean. He added that Bursa Malaysia is on track to capture 60 initial public offerings (IPOs) throughout 2025, with RM40.2 billion in total IPO market capitalisation. He added that the preemptive move undertaken by Bank Negara Malaysia to reduce interest rates by 25 basis points would bring additional liquidity to the financial system, and the FBM KLCI would have an upside from its current level of 1,530. In the first half of 2025, Bursa Malaysia recorded 32 IPOs, comprising six in the main market, 23 in ACE and three in LEAP. Meanwhile, trading activities in Bursa Malaysia are expected to recover in the second half of 2025, supported by capital deployment from funds currently holding high levels of cash. 'A lot of it will be dependent on capital flows. And I think quite clearly, for us, we see that funds are already sitting on a lot of cash. So, they will want to deploy that cash,' said Fad'l. He added that Bursa Malaysia still holds to the annual average daily trading value (ADV) consensus of RM2.6 billion. Fad'l believes that foreign funds may return to the Malaysian market as current valuations present an attractive entry point and strategic imperatives begin to take shape. He added that towards the end of last year, the bourse operator saw some movements with foreign funds that were looking to find safe havens. 'There was a lot of uncertainty towards the end of last year, including the Asean markets, which recorded foreign outflows. I think right now would be a good time, given where valuations are, for foreign funds to come back,' Fad'l said. — Bernama

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store