Japanese Prime Minister Fumio Kishida has announced that he will not seek re-election as leader of the ruling Liberal Democratic Party (LDP), signaling the need for a “new start” within the party. The 67-year-old, who has served as prime minister since 2021, is expected to step down after the party elects a new leader in September.

Mr. Kishida’s decision comes amid declining support due to a corruption scandal involving his party, rising living costs, and a weakening yen. His approval ratings plunged to 15.5% last month, marking the lowest for a prime minister in over a decade.

At a press conference on Wednesday, Mr. Kishida emphasized the importance of change within the LDP, stating, “In the upcoming presidential election, it’s necessary to show the people that the Liberal Democratic Party will change.” He added that stepping back would be the “first easy-to-understand step” towards this transformation.

There have been doubts within the LDP about Mr. Kishida’s ability to lead the party to victory in the next general election, scheduled for 2025. The LDP, which has held power almost continuously since 1955, was reportedly shocked by Mr. Kishida’s decision. A senior leader revealed that efforts were made to persuade him to run for re-election, but Mr. Kishida deemed it “irresponsible” to do so.

A member of Mr. Kishida’s faction expressed regret, noting that the prime minister had a strong record in foreign policy, defense, and domestic affairs but was compelled to step down due to issues related to politics and money.