Word: ldp
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...decades Japan has effectively been a one-party state ruled by the Liberal Democratic Party (LDP). But last month's parliamentary elections changed the nation's political landscape?perhaps for good. Though the LDP kept control of the government, voters punished it for its failure to reform the economy by handing it a smaller mandate and by giving the opposition Democratic Party of Japan (DPJ) large gains in the Diet. Suddenly, pundits were holding forth about two-party democracy breaking out in Japan. Actually, they should have been talking about a three-party system...
...ELECTED. Junichiro Koizumi, 61, as president of Japan's ruling Liberal Democratic Party (LDP); in Tokyo. Having retained the party's presidency by a landslide, Koizumi will lead the LDP in coming elections for the lower house of the Diet, most likely in November...
...When details leaked out before the scheduled Tuesday evening release of his preliminary proposals, those grumblings turned into a revolt. On Tuesday morning, Liberal Democratic Party (LDP) heavyweights Mitsuo Horiuchi, Taro Aso and Taku Yamasaki vowed to intervene. While Koizumi briefed the emperor at the Imperial Palace that evening, the three leaders and other LDP bosses confronted Takenaka behind closed doors in the Diet building. Takenaka left the meeting looking visibly pale. "This was poor leadership from Koizumi," says Mamoru Yamazaki, chief economist at Barclays Capital Management. "Takenaka was accused by the leading politicians of the Diet, and the Prime...
...from complacent banks to profitless companies would be cut off, giving these companies no choice but to shut down and throw their workers out on the street. "Companies are going to go under and Japan offers no support for the unemployed," frets Minoru Morita, a prominent political analyst. Already, LDP politicians and Tokyo bankers are circulating a list of 51 companies presumed likely to meet with peril under the plan?including retailer Mitsukoshi, video gamemaker Sega and trading outfit Nissho Iwai, plus a slew of construction, heavy machinery and real estate companies. Goldman Sachs estimates that if all 51 companies...
...reason for the official silence is that Japan's ruling Liberal Democratic Party (LDP), in power almost continuously since 1955, is beholden to nationalistic groups such as the million-strong Shrine Association, which represents Japan's 80,000 Shinto shrines. This staunchly conservative organization, which opposes compensating sex slaves and other victims of Japan's aggression, continues to insist that Japan fought on foreign soil to liberate its neighbors from Western colonialism. Nearly half of the LDP members in Japan's parliament routinely attend Shrine Association events or accept its donations, according to Nobunao Tanaka, author of two books critical...