Fumio Kishida

Japan's Prime Minister Shigeru Ishiba vowed Monday to stay in office despite his gamble of snap elections backfiring, with the ruling party's worst result in 15 years.

Ishiba, 67, called Sunday's election days after taking office on Oct. 1, but voters angry at a slush fund scandal punished his Liberal Democratic Party (LDP), which has governed Japan almost non-stop since 1955.

Shigeru Ishiba became Japanese prime minister on Tuesday, seeking to restore the ruling party's popularity and tackle a demographic crisis, a lacklustre economy and fears over China's military build-up.

Stocks plunged in Tokyo on Monday after the yen surged in reaction to Shigeru Ishiba's election last week as the head of Japan's ruling party, which boosted expectations the Bank of Japan will continue hiking interest rates.

US President Joe Biden, in his final address to the UN General Assembly, emphasized the need for continued support for Ukraine in its defense against the Russian invasion, declaring that "Putin's war has failed at his core aim." Biden reiterated his commitment to helping Kyiv achieve a durable peace, while much of the conference centered on the tensions in West Asia.

Japan's new prime minister will be formally elected by parliament on Oct. 1 following next week's leadership contest, a ruling party official said on Wednesday.

Polls indicate that three frontrunners are emerging among the nine candidates to succeed Fumio Kishida as head of the Liberal Democratic Party (LDP) in the Sept. 27 internal vote.

Japan's leadership race kicked off on Thursday with a record nine candidates, including the surfing son of a former prime minister and an arch-nationalist, vying to be the first woman premier.

Japan's outgoing Prime Minister Fumio Kishida will head to Seoul on Sept. 6 for a two-day visit to meet South Korea's leader after the pair worked to significantly boost bilateral ties.

Japanese Prime Minister Fumio Kishida has announced that he will not seek re-election in the ruling Liberal Democratic Party's leadership contest next month, as reported by NHK News. During a news conference on Wednesday, Kishida emphasized the importance of showing the public that the Liberal Democratic Party (LDP) is capable of change.

Japan's Prime Minister Fumio Kishida speaks during a press conference at his office in Tokyo to announce he will not run in the upcoming party leadership vote in September, Wednesday, Aug. 14, 2024.

Japan's unpopular Prime Minister Fumio Kishida is set to quit after announcing on Wednesday he will not seek re-election as party chief.

Switzerland is hosting a two-day peace conference focusing on Ukraine at the luxurious alpine resort of Bürgenstock near Lucerne. The conference, titled the "Ukraine Peace Summit," is the first of its kind and will take place today and tomorrow.