Kishida launches new group within ruling LDP: Report

Japan's former Prime Minister Fumio Kishida has launched a new group within the ruling Liberal Democratic Party (LDP) in an apparent move to "maintain his influence" as Shigeru Ishiba leads a minority government in the country, local media reported on Sunday.

The Kishida-led group, which reportedly aims at promoting asset management in the country, held its inaugural meeting at the Diet building on Friday. It was attended by around 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.

Kishida, in his speech at the meeting, spotlighted his achievements during three years as prime minister and party president.

"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," Japan's leading daily 'The Japan Times' quoted Kishida as saying during the meeting.

The newspaper reported that participants at the meeting 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.

"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," the news report mentioned while detailing info revealed by a midranking LDP lawmaker.

Shigeru Ishiba, the leader of Japan's ruling Liberal Democratic Party (LDP), was elected as the country's Prime Minister in a parliamentary vote, last month, succeeding Kishida.

He was formally reelected on November 11 after a runoff vote in parliament - the first in three decades.

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