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Free AccessTokyo Gov Koike Wins Re-Election, Nat'l Opposition Candidate Comes Third
Tokyo Governor Yuriko Koike (independent, supported by the LDP, Komeito, DPFP and Tomin First) secured victory in Sunday's gubernatorial election, beating her closest rivals Shinji Ishimaru (independent, without the endorsement of any political party) and Renho Saito (usually referred to mononymously as "Renho"; independent, supported by the CDPJ, JCP and SDP) by a comfortable margin.
- Koike, whose gubernatorial bid was supported by the ruling Liberal Democratic Party (LDP), garnered 43.4% of the vote. Ex-Akitakata Mayor Shinji Ishimaru came second with 24.6% to the surprise of most observers. National opposition suffered a setback as its candidate Renho Saito came third with 18.9% of the vote.
- The election was initially expected to be a two-way race between two former TV anchors Koike and Renho, but Ishimaru managed to boost his profile through a proactive election campaign in social media. Kyodo News reported that he managed to attract the support of voters disappointed with the political funding scandal.
- The result is significant from the fiscal perspective, due to the sheer size of Tokyo. Kyodo reports that "the governor of Japan's capital (...) controls an annual budget of more than 16 trillion yen ($100 billion), nearly equivalent to the national spending of Sweden or the Czech Republic."
- Politically, the results provide some reprieve to embattled PM Kishida after the approval ratings of his administration tanked on the back of a series of scandals. On the other hand, the disappointing showing from Renho may result in renewed calls for a change in the leadership of the main opposition Constitutional Democratic Party of Japan (CDPJ). Both parties are expected to hold leadership elections this September.
To read the full story
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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.