Japan PM Kishida to step down in September

The news: Japan’s Prime Minister, Fumio Kishida, will not seek a second term in September, according to media reports.

The context: Kishida has led the long-ruling Liberal Democratic Party (LDP) for nearly three years. According to Kyodo News, which cited senior administration staff, he decided not to run again in order to take responsibility for the handling of a political funds issue.

Kishida’s public support has fallen amid a wide-ranging party slush-fund scandal, ongoing inflation and the yen’s slump.

Although his successor has yet to be announced, the new leader is virtually assured to become Japan’s next Prime Minister, given the LDP’s dominance in parliament.