Japanese PM Kishida to Step Down Amid Scandals and Rising Living Costs

Japan's Prime Minister Fumio Kishida announced Wednesday he will step down next month, citing political scandals and rising living costs that have tarnished his tenure. 'Politics cannot function without public trust,' he stated during a press conference where he revealed his decision not to seek re-election as the ruling Liberal Democratic Party (LDP) leader.

'I made this heavy decision thinking of the public, with the strong will to push political reform forward.' The LDP will hold a contest in September to elect his successor, who will also become the next prime minister.

Kishida's approval ratings suffered due to his party's affiliations with the controversial Unification Church and the emergence of an unrecorded political donations slush fund. He also faced criticism as wages lagged behind rising living costs. Experts believe his successor must address these issues effectively to restore public trust.

(With inputs from agencies.)