{"text":[[{"start":7.84,"text":"Japan’s Prime Minister Sanae Takaichi is to call a snap general election, her coalition partner has said, as she seeks to convert her high public approval ratings into a parliamentary majority for her ruling Liberal Democratic Party."}],[{"start":24.09,"text":"Takaichi informed senior colleagues on Wednesday of her intention to dissolve the lower house of parliament soon after it reconvenes on January 23, according to Hirofumi Yoshimura, whose Japan Innovation Party governs in coalition with the LDP."}],[{"start":41.769999999999996,"text":"She is then expected to call the snap poll in February. No date has been set. Local media, citing senior LDP party members, said the most likely election dates were February 8 or 15."}],[{"start":58.06999999999999,"text":"Shunichi Suzuki, the LDP’s secretary-general, said Takaichi would give more details at a press conference on January 19."}],[{"start":68.85999999999999,"text":"Speaking to reporters shortly after meeting Takaichi, Yoshimura said the coalition between the LDP and JIP, which was formed in October, had not yet earned a public mandate in a general election. He said he and Takaichi discussed the prospect of a snap poll as a “chance for the new government to seek public trust”."}],[{"start":91.84999999999998,"text":"Takaichi took office late last year after winning an internal LDP leadership vote, becoming Japan’s first female prime minister."}],[{"start":101.48999999999998,"text":"The general election will be Japan’s second in less than 18 months. The LDP lost its majority in the lower house of parliament in 2024 under Takaichi’s predecessor, Shigeru Ishiba. The following year, its then-governing coalition lost its majority in the less powerful upper house."}],[{"start":null,"text":"
"}],[{"start":121.88999999999999,"text":"The LDP’s overall approval ratings are relatively low at about 35 per cent, according to numerous polls, but cabinet approval, which reflects the personal popularity of the PM, has ranged as high as 76 per cent."}],[{"start":138.26999999999998,"text":"Takaichi has been seen as a welcome agent of change in Japanese politics, particularly by younger voters who have recently been drawn to smaller, populist opposition parties."}],[{"start":149.86999999999998,"text":"Within her three months in office, Takaichi has hosted a high-stakes visit to Japan by US President Donald Trump. Shortly afterwards, remarks she made in parliament about Taiwan triggered a spat with China, on which she has refused to back down. Both events had enhanced the prime minister’s standing with voters, said political analysts."}],[{"start":173.61999999999998,"text":"Despite the promise of an election victory, Takaichi’s move is a big gamble, according to analysts. For several decades, the LDP governed in coalition with the Komeito party, and the two parties closely co-operated to fight for seats in tough constituencies."}],[{"start":191.45999999999998,"text":"That partnership dissolved last year, and without it estimates by local media show LDP candidates in many constituencies could find themselves with thousands fewer votes than in the past."}],[{"start":204.04999999999998,"text":"Speculation around Takaichi’s electoral plans has driven Japanese stocks to record highs this week, with investors betting that the prime minister’s popularity will boost the LDP to regain its majority and a public mandate for further fiscal stimulus for the economy."}],[{"start":222.54,"text":"Japan’s 10-year government bond yield, which moves inversely to the price, was up 0.09 percentage points to 2.18 per cent in the week to Wednesday."}],[{"start":233.64,"text":"“Markets are right to fear that giving [Takaichi] more political capital means more fiscal deficits and inflation pressures, hence the sell-off in the bond market and jump in equities,” said Raphaël Gallardo, chief economist at Carmignac."}],[{"start":251.48,"text":"The same bets on increased public spending and fiscal expansion have weighed on the yen in recent months. The Japanese currency touched an 18-month low of ¥159.45 per dollar on Wednesday, drawing a renewed warning from Japan’s finance minister that the government would not rule out any measures to respond to excessive moves in the exchange rate."}],[{"start":276.48,"text":"Additional reporting by Emily Herbert in London"}],[{"start":281.21000000000004,"text":"Data visualisation by Martin Stabe"}],[{"start":293.1,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1768440050_7856.mp3"}