Japan’s Ishiba: Election was a harsh judgment on LDP government

apanese Prime Minister Shigeru Ishiba on Monday apologized to the ruling Liberal Democratic Party (LDP) for the election loss, adding that he will continue to govern in coalition with Komeito.

Key quotes

Apologizes to the LDP party for election loss.

Most important thing for Japan is political stability as it faces several challenges.

Will continue to govern in coalition with Komeito.

Will strive to reach a deal with the US on tariffs while protecting national interest.

Want to speak with President Trump at the earliest date possible to seek a solution on trade.

Will seek cooperation of other parties to tackle rising prices.

Will not expand formal government coalition.

Not currently considering personnel changes.

Need to stay in office to deal with tariff talks, rising prices and economic issues.

Market reaction

At the time of writing, the USD/JPY pair is trading 0.25% lower on the day to trade at 148.44.