Thank you for reading Observing Japan. This post is available to paid subscribers.
If you are looking for timely, forward-looking analysis of the stories in Japans’s politics and policymaking that move markets, I have launched a new service through my business, Japan Foresight LLC. For more information about Japan Foresight’s services or for information on how to sign up for a trial or schedule a briefing, please visit our website or reach out to me.
This Week in Japanese Politics will be distributed to paid subscribers tomorrow.
I joined CNBC Asia’s Squawk Box Asia earlier this week to discuss the LDP election.
There has not been much opinion polling since Prime Minister Kishida Fumio announced that he would not seek reelection as leader of the Liberal Democratic Party (LDP), but a new Nikkei Shimbun poll suggests that Kishida’s exit has fundamentally reshaped the LDP’s prospects even before the leadership field has taken shape.
In a flash poll conducted 21-22 August, Nikkei found that when asked which party they will vote for in the next general election, the LDP was favored by 39 percent of respondents, a nine-point increase compared with July. At the same time, the Constitutional Democratic Party (CDP) fell two points to 11 percent. The results were similar in overall party approval. The LDP gained four points to 36 percent, the CDP fell two, and, perhaps more importantly, the share of LDP supporters surpassed the share of independents (34 percent).
It is possible that this bump is a bit of a halo effect from Kishida’s exit, which 78 percent of respondents said was the appropriate decision. After all, only 29 percent said that they think that the change in LDP leadership will restore public trust in the party. Still, the impending replacement of Kishida has opened up the possibility that the party, after picking a new leader, can a snap election and still retain a healthy majority, a prospect that seemed remote if Kishida stayed in the race.
Whether the LDP is able to achieve this outcome will depend on how its leadership election unfolds. Here, the Nikkei poll has some striking findings about the public’s — and LDP supporters’ preferences.
Keep reading with a 7-day free trial
Subscribe to Observing Japan to keep reading this post and get 7 days of free access to the full post archives.