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Takaichi Dissolves Lower House, Sets Feb. 8 Snap Election

The race unfolds with the LDP campaigning without longtime ally Komeito.

Overview

  • Takaichi confirmed she will dissolve the chamber on January 23, start official campaigning on January 27, and hold voting for all 465 seats on February 8.
  • She said she is seeking a voter mandate to advance higher spending, tax relief including a two-year halt to the 8% consumption tax on food, and a tougher security strategy.
  • Her cabinet retains strong approval despite weak LDP support, and she set the victory bar as the LDPJapan Innovation Party coalition winning at least 233 seats.
  • The Constitutional Democratic Party and Komeito formed the Centrist Reform Alliance, plan about 200 candidates, and Komeito will forgo single-seat runs after splitting from the LDP.
  • Markets rallied on the election plan and fiscal outlook, with the Nikkei reaching record highs and 10-year government bond yields hitting a 27-year peak, while opponents warn of possible budget delays.