Ex-PM Kishida Launches New Group in Ruling LDP

Jiji Press

13:00 JST, November 24, 2024

Tokyo (Jiji Press)—Former Japanese Prime Minister Fumio Kishida has launched a new group within the ruling Liberal Democratic Party, apparently hoping to maintain his influence as current Prime Minister Shigeru Ishiba leads a minority government.

The Kishida-led group, which aims to promote asset management in the country, held its inaugural meeting at the Diet building on Friday, attended by some 20 LDP lawmakers including former LDP Secretary-General Toshimitsu Motegi, as well as LDP Election Strategy Committee chief Seiji Kihara and others who belonged to a now-disbanded LDP faction that was led by Kishida.

Touting achievements of his three years at the helm of the government, Kishida said in a speech at the meeting, “We have begun to see encouraging signs of a new economic phase, including the highest wage increases in 33 years.”

“We must show the world our strong commitment to continuing efforts to make Japan a major asset management nation,” he said, calling again on his successor to maintain related policies.

The meeting’s participants also included lawmakers who belonged to an LDP faction once led by former Prime Minister Shinzo Abe and members of a faction led by former party Vice President Taro Aso.

They decided to submit a proposal to the government soon to raise the contribution limit under the iDeCo defined-contribution pension system for individuals.

Meanwhile, Kishida may have expected more LDP colleagues to join the new group. “I believe (more people) will join us soon,” he said.

Kishida announced his decision to dissolve his own LDP faction at the beginning of this year, in the wake of a high-profile political funds scandal involving LDP factions. He stepped down as prime minister on Oct. 1, and toured around the country to campaign for LDP candidates in the Oct. 27 general election.

At the same time, he has continued to dine with former members of his faction, asking them to recruit new LDP members to increase his allies, according to informed sources.

Kishida is keen to exert his influence, saying that he has a lot of unfinished projects, the sources said. Kishida is “seeking to consolidate his power through the new policy group,” a mid-ranking LDP lawmaker said.

Meanwhile, Chief Cabinet Secretary Yoshimasa Hayashi, who was a member of the Kishida faction, is expected by his former faction colleagues to become prime minister in the future. With their support, he came in fourth in the LDP leadership election in September.

Hayashi was not present at Friday’s meeting of the new Kishida-led group, nor was LDP policy chief Itsunori Onodera, who supported Hayashi in the leadership election.