TOKYO -- Japanese Prime Minister Fumio Kishida on Monday pledged to provide financial support to part-time workers, families with small children and pandemic-stricken businesses regardless of industry, following his party's victory in the previous day's lower house election.
With the vote out of the way, Kishida faces the tougher challenge of rejuvenating the pandemic-hit economy while also keeping COVID-19 under control, as he attempts to ensure his government's longevity. "I plan to implement policies with a sense of speed," the prime minister told reporters.
In a news conference, Kishida promised to include cash handouts and other subsidies in an economic stimulus package his government aims to hammer out by mid-November. He also said he would start discussions on resuming the Go To Travel campaign -- a domestic effort to prop up the battered tourism industry with discounts and vouchers, halted after COVID-19 cases rose.
On the virus management front, he said that "we will outline our COVID response early this month," adding that his administration will also work toward providing booster shots starting in December.
Kishida's Liberal Democratic Party secured not only a sole majority in Sunday's general election but also an absolute stable one, with 261 seats, making it easier for the LDP to pass bills through the house. Together with its junior partner Komeito, the ruling camp was able to win 293 out of the 465 seats that were up for grabs.
Kishida is expected to call a special parliamentary session on Nov. 10, where he is likely to be reelected as prime minister. Soon after establishing his second cabinet, he plans to submit a supplementary budget for fiscal 2021 worth several hundred billion dollars -- a spending plan he aims to pass within the year.
The prime minister's news conference touched on bigger themes and security as well. Under his "new capitalism" policy, Kishida aims to support investments in science and advanced technology and accelerate growth, while boosting wages to generate a cycle of growth and distribution.
Kishida also talked about revising the country's National Security Strategy, saying he will work quickly to "strengthen [Japan's] missile defense capabilities," along with areas like artificial intelligence and cybersecurity. Increasing the resilience of supply chains is another security priority, he said.
While his LDP managed to win an outright majority in the lower house, it also took some significant losses on Sunday. The party's secretary-general, Akira Amari, lost in his single-seat district and intends to resign from his No. 2 party post. Former LDP Secretary-General Nobuteru Ishihara, the son of ex-Tokyo Gov. Shintaro Ishihara, also lost in his single-seat constituency.
Regarding Amari's resignation, Kishida said, "I will hold discussions with him and will make a decision as soon as possible."
The LDP's main rival, the Constitutional Democratic Party, led a largely united opposition front, resulting in heated races in some districts. Nippon Ishin no Kai (Japan Innovation Party), a conservative or libertarian opposition group, had a stellar night -- more than tripling its seat count and overtaking Komeito as the third-largest party.
Hinting at prospects for working with the rising party, Kishida said, "We will continue to take a fair and just stance, taking into account the fact that we are both conservative forces."
Kishida plans to visit Glasgow for the United Nations' ongoing COP26 climate summit, saying, "I will uphold [Japan's goal] of carbon neutrality and will also demonstrate leadership to realize zero emissions for all of Asia."
On Monday, equity markets reacted positively to the LDP's comfortable victory. Some investors and analysts had warned the ruling party could face an uphill battle, but the result eased concerns about political uncertainty. In the Tokyo market, the blue-chip Nikkei Stock Average closed up over 700 points, or 2.6%, reaching its highest end point in over a month.
Kishida will not have much time to bask in the win, however -- a reality he seemed to acknowledge with his vow of "speed." An upper house election looms next summer.
Shunsuke Kobayashi, chief economist at Mizuho Securities in Tokyo, pointed out, "Maintaining his approval rating until next summer and keeping at least a majority will be a life-and-death condition for Kishida to establish a long-term government."