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Prosecutors Expected To Press Charges Against LDP Officials Amid Fundraising Scandal
Tokyo prosecutors are preparing to press charges against the treasurers of three factions of the ruling Liberal Democratic Party (LDP) over alleged violations of political funding regulations in relation to the ongoing fundraising scandal, according to source reports circulated by Jiji Press and Kyodo News. The groups targeted by the prosecutors are the Abe, Nikai and Kishida factions.
- The issue may add to the troubles of PM Fumio Kishida, who said that he is aware of an "accumulation of errors" made by his faction which were being corrected, also noting that he was not aware of "something more than that".
- This comes as the approval rating of the Kishida Cabinet stabilises near all-time lows, ticking higher by 1.5pp to 18.6% in the latest Jiji opinion poll. Meanwhile, support for the LDP fell to 14.6%, the lowest since the survey began in 1960.
- A separate report ran by Mainichi noted that five senior Abe faction members are considering resigning from their executive positions in the group after losing their ministerial, parliamentary and party positions.
- Despite being the largest group within the LDP, the Abe faction has failed to elect a new leader after the death of Shinzo Abe and continues to be governed by a 15-member standing committee including the five senior officials.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.