Japanese Prime Minister Ishiba says he will stay in office despite election defeat

Japanese Prime Minister Shigeru Ishiba said on Monday he would stay in office to deal with challenges such as rising prices and high US tariffs, after his leftist coalition suffered a crushing defeat in upper house elections.

After Sunday's election, Ishiba's ruling Liberal Democratic Party and its junior coalition partner Komeito are three seats short of retaining a majority in the 248-seat upper house of parliament.

The coalition is now in the minority in both the lower and upper houses of parliament, although the LDP remains the leading party.

Ishiba said he takes the result seriously, but that his priority is to avoid creating a political vacuum and to deal with current challenges, including the August 1 deadline for a tariff agreement with the United States.

"Although I painfully feel my serious responsibility regarding the election results, I believe that I must also fulfill my responsibility for the country and the people and not let politics hinder or lead them astray. Challenges such as the global situation and natural disasters will not wait for a better political situation," he said.

The Prime Minister said he hopes to reach a mutually beneficial agreement with US President Donald Trump and will meet with him.

Yesterday's election for the upper house of parliament was held after Ishiba's coalition lost its majority in October's lower house elections, battered by past corruption scandals, and his unpopular government has since been forced to make concessions to the opposition to push legislation through parliament.

It was unable to stop rising prices, including for rice, Japan's staple, and falling wages.

Trump added salt to Ishiba's wound by complaining about the lack of progress in trade negotiations and the lack of sales of American cars and American rice in Japan despite the country's lack of domestic supplies of that product.

Trump's announced 25 percent tariff on Japanese goods, set to take effect on August 1, represents another blow to Ishiba.