(Photo : NHK)
Former PM Kishida's Bid to Retain Influence in LDP

• Former Prime Minister Fumio Kishida has formed a new faction within Japan's ruling Liberal Democratic Party (LDP).
• The group, led by Kishida, aims to promote asset management in Japan.
• Kishida's move is seen as an attempt to maintain his political influence and push his policy agenda.
• This development highlights the dynamic nature of Japan's political landscape and the strategic maneuvers politicians employ to maintain their influence.

In a significant political development in Japan, former Prime Minister Fumio Kishida has initiated a new faction within the ruling Liberal Democratic Party (LDP). This move, as reported by local media on Sunday, is seen as an attempt by Kishida to retain his political influence while Shigeru Ishiba heads a minority government.

The newly formed group, led by Kishida, is said to be focused on promoting asset management in Japan. The inaugural meeting of this group took place at the Diet building on Friday and was attended by approximately 20 LDP lawmakers. Notable attendees included former LDP Secretary-General Toshimitsu Motegi, LDP Election Strategy Committee chief Seiji Kihara, and others who were part of a now-defunct LDP faction led by Kishida.

During the meeting, Kishida highlighted his accomplishments during his three-year tenure as prime minister and party president. He was quoted by 'The Japan Times', a leading daily, as saying, 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.

Kishida's Influence and Unfinished Projects

The meeting also saw the participation of lawmakers who were part of an LDP faction once led by former Prime Minister Shinzo Abe and members of a faction led by former party Vice President Taro Aso. This indicates a broad spectrum of support for Kishida's new initiative within the party.

According to a mid-ranking LDP lawmaker, Kishida is eager to wield his influence, stating that he has numerous unfinished projects. Through this new policy group, Kishida is looking to consolidate his power within the party.

This development comes in the wake of Shigeru Ishiba's election as Japan's Prime Minister last month, succeeding Kishida. Ishiba was formally reelected on November 11 after a runoff vote in parliament - the first in three decades.

Historical Precedence and Future Implications

Kishida had stepped down at the end of his three-year term following a slush funds scandal that dented voter confidence in the ruling party. He was elected as Prime Minister on September 29, 2021, and had also dissolved the lower house for a general election.

This political maneuvering by Kishida is not unprecedented in the history of Japanese politics. In the past, political leaders have often formed factions within their parties to maintain their influence and push their policy agendas. For instance, former Prime Minister Shinzo Abe, who was part of the same LDP, had also formed a faction to consolidate his power and influence party policies.