Politics Former PM Kishida forms new faction within ruling LDP

In case you were wondering what former PM Kishida has been doing since he resigned: he's been busy setting up his own LDP faction.

Kishida has formed a new group within the LDP to preserve his influence as current Prime Minister Shigeru Ishiba governs with a minority administration. The group focused on promoting asset management in Japan and held its inaugural meeting on Friday at the Diet building. Approximately 20 LDP lawmakers attended, including former LDP Secretary-General Toshimitsu Motegi, LDP Election Strategy Committee Chief Seiji Kihara, and other members of a now-defunct faction previously led by Kishida.

During the meeting, Kishida reflected on his three years as prime minister, highlighting signs of economic improvement, including the highest wage growth in 33 years. He emphasized the importance of demonstrating Japan's dedication to becoming a leading nation in asset management and urged his successor to continue supporting policies aligned with this goal.

Participants at the meeting also included lawmakers from factions formerly led by ex-Prime Minister Shinzo Abe and former LDP Vice President Taro Aso. The group agreed to propose raising the contribution limit for individuals to the iDeCo defined-contribution pension system soon.

Meanwhile, Kishida may have expected more LDP colleagues to join the new group. "I believe (more people) will join us soon," he said. [...] 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," a midranking LDP lawmaker said. Meanwhile, Chief Cabinet Secretary Yoshimasa Hayashi, a member of the Kishida faction, is expected by his former faction colleagues to become prime minister in the future. With their support, he came in fourth in the LDP leadership election in September.

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