Japanese PM stays on to tackle high inflation and US tariffs despite a key election loss
Ishiba's ruling Liberal Democratic Party and its junior coalition partner Komeito were short three seats to maintain a majority in the 248-seat upper house in Sunday's vote. The coalition is now a minority in both houses of the Diet, or parliament, though the LDP is still the leading party.
Ishiba said he takes the result seriously but that his priority is to avoid creating a political vacuum and to tackle impending challenges, including the Aug. 1 deadline for a tariff deal with the U.S.
The prime minister said he hopes to reach a mutually beneficial deal and meet U.S. President Donald Trump.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
11 minutes ago
- The Hill
South Korea, US militaries will stage large-scale drills this month to address North Korean threats
SEOUL, South Korea (AP) — South Korea and the United States will launch their annual large-scale military exercise this month to bolster readiness against North Korean threats, the allies said Thursday, in a move likely to irritate Pyongyang amid a prolonged stalemate in diplomacy. Ulchi Freedom Shield, the second of two large-scale exercises held annually in South Korea, following another set of drills in March, typically involves thousands of troops in computer-simulated command post training and combined field exercises. The Aug. 18-28 exercise may trigger an angry reaction from North Korea, which calls the joint drills invasion rehearsals and often uses them as a pretext to dial up military demonstrations and weapons tests aimed at advancing its nuclear program. Doubling down on its nuclear ambitions, North Korea has repeatedly rejected Washington and Seoul's calls to resume diplomacy aimed at winding down its weapons program, which derailed in 2019. The North has now made Russia the priority of its foreign policy, sending thousands of troops and large amounts of military equipment to support Moscow's war in Ukraine. About 18,000 South Korean troops will take part in this year's Ulchi Freedom Shield exercise, South Korea's Joint Chiefs of Staff spokesperson, Col. Lee Sung Joon, said during a joint briefing with U.S. Forces Korea, which did not disclose the number of participating U.S. troops. Both Col. Lee and U.S. Forces Korea public affairs director Col. Ryan Donald downplayed speculation that South Korea's new liberal government, led by President Lee Jae Myung, sought to downsize the exercise to create momentum for dialogue with Pyongyang, saying its scale is similar to previous years. However, Col. Lee said about half of the exercise's originally planned 40 field training programs were postponed to September due to heat concerns. The threat posed by North Korea's growing nuclear and missile programs will be a key focus of the exercise, which will also incorporate lessons from recent conflicts, including Russia's war in Ukraine and the clash between Israel and Iran, Col. Lee and Col. Donald said. The exercise will also address threats from drones, GPS jamming and cyberattacks, they said.
CNBC
12 minutes ago
- CNBC
Sony hikes annual profit forecast by 4%, citing smaller trade war impact
Sony raised its full-year operating profit forecast Thursday by 4% to 1.33 trillion yen ($9.01 billion), citing a diminished impact from U.S. President Donald Trump's trade war. In May, Sony forecast a profit of 1.28 trillion yen, factoring in a 100 billion yen hit from the tariffs. The Japanese conglomerate has transformed from a maker of household electronics such as the Walkman to an entertainment behemoth spanning games, movies, music and chips. Sony reported a 36.5% rise in operating profit to 340 billion yen for the April-June quarter, beating an estimate of 288 billion yen from eight analysts surveyed by LSEG.
Yahoo
41 minutes ago
- Yahoo
Japanese population sees record drop in 2024
The population of Japanese nationals fell by a record amount -- more than 900,000 people -- in 2024, official data showed, as the country battles to reverse its perennially low birth rates. While many developed countries are struggling with low birth rates, the problem is particularly acute in Japan where the population has been declining for years. Prime Minister Shigeru Ishiba has called the situation a "quiet emergency", pledging family-friendly measures like more flexible working hours and free day care to try and reverse the trend. Last year, the number of Japanese fell by 908,574, or 0.75 percent, to 120.65 million. The decline -- for a 16th straight year -- was the largest drop since the survey began in 1968, the internal affairs ministry said Wednesday. Foreign resident totals, however, were at their highest since records began in 2013. There were 3.67 million foreigners as of January 1, 2025, representing nearly three percent of the whole population in Japan, which was more than 124.3 million as of that date. The overall population of the country declined by 0.44 percent from 2023. The latest figures come as the government struggles to raise stubbornly low birth rates, while frustration over inflation and other concerns among some voters prompted the rise of a new opposition party with a slogan of "Japanese First". The anti-immigrant party has falsely claimed foreigners enjoy more welfare benefits than Japanese nationals. By age, Japanese nationals aged 65 and over accounted for nearly 30 percent of the population, while the age group between 15 and 64 made up 60 percent, both minor increases from the previous year. Japan has the world's second-oldest population after tiny Monaco, according to the World Bank. The number of births in Japan last year fell below 700,000 for the first time on record, health ministry data released in June said. The fast-ageing nation welcomed 686,061 newborns in 2024 -- 41,227 fewer than in 2023, the data showed. It was the lowest figure since records began in 1899. kh/aph/sco
