Japan should strive for a new form of capitalism to reduce income disparity that has worsened under the coronavirus pandemic, says former foreign minister Fumio Kishida who hopes to become leader of the ruling party and next prime minister.

Kishida is the only Liberal Democratic Party (LDP) member to announce his candidacy in a leadership vote on September&nbsp;29, after Prime Minister Yoshihide Suga last Friday said he would step down. The winner of the vote is all but assured to be Japan's next prime minister.

Popular COVID-19 vaccination minister Taro Kono and former internal minister Sanae Takaichi have signalled their ambition to run.

Also see |&nbsp;<a href="https://www.wionews.com/photos/race-for-new-leader-begins-in-japan-as-struggling-pm-suga-steps-down-410458">Race for new leader begins in Japan as struggling PM Suga steps down</a>

Takaichi, 60, is expected to announce her candidacy later on Wednesday and if successful would become Japan's first female leader.

Kishida said the neo-liberalism and deregulation that Japan has embraced during the reform era of former prime minister Junichiro Koizumi in the early 2000s have widened the gap between the haves and have-nots in the society.

"Without distribution of wealth there won't be a rise in consumption and demand...there won't be further growth if distribution of wealth is lost," Kishida said at a presentation of his economic proposals in Tokyo on Wednesday.

Kishida repeated a call for an economic stimulus package worth "tens of trillions of yen" to combat the coronavirus pandemic. He said he would use fiscal spending for achieving economic stability while not giving up on fiscal consolidation.

He said the Bank of Japan should maintain its 2 per cent&nbsp;inflation target as "it is a global standard" and changing it would send a wrong message to markets, and would leave the sales tax untouched for the time being.

Kishida also called for setting up a 10 trillion yen ($90.7 billion) university fund to stimulate science and promotion of renewable energy, while retaining nuclear power technology, which he said should be considered as a clean energy option.

Takaichi to join race&nbsp;

Takaichi has the backing of former prime minister Shinzo Abe, local media said, and would base her challenge on policies to fend off China's technology threat and help strengthen an economy battered by the coronavirus pandemic.

Takaichi became the first female internal affairs minister in the second Abe administration in 2014.

But even as local media have said influential Abe has thrown his support behind Takaichi helping her obtain the 20 lawmaker backers needed to run in the leadership election, she has ranked poorly in popularity ratings, which could hamper her chances.

Grass-roots LDP members will vote in the leadership election along with the party's members of parliament, and whoever wins will lead the party to the lower house election that must be held by November&nbsp;28, making public appeal an important factor in choosing the new leader.

Takaichi has said she wanted to work on issues left unresolved by previous administrations, such as achieving 2 per cent&nbsp;inflation, and introducing legislation "that prevents the leakage of sensitive information to China".

She said an extra budget needed to be compiled as soon as possible to bolster Japan's medical system, which is under strain because of the pandemic.

A member of the party's most conservative wing, she often visits the Yasukuni Shrine, a memorial to Japan's war dead. Such visits by Japanese leaders infuriate old wartime foes such as China and South Korea.

She has also opposed allowing married couples to keep separate surnames, to the disappointment of promoters of women's rights.

Japan should strive for a new form of capitalism to reduce income disparity that has worsened under the coronavirus pandemic, says former foreign minister Fumio Kishida who hopes to become leader of the ruling party and next prime minister.

Japan should strive for a new form of capitalism to reduce income disparity that has worsened under the coronavirus pandemic, says former foreign minister Fumio Kishida who hopes to become leader of the ruling party and next prime minister. Kishida is the only Liberal Democratic Party (LDP) member to announce his candidacy in a leadership vote on September 29, after Prime Minister Yoshihide Suga last Friday said he would step down. The winner of the vote is all but assured to be Japan's next prime minister. Popular COVID-19 vaccination minister Taro Kono and former internal minister Sanae Takaichi have signalled their ambition to run. Also see | Race for new leader begins in Japan as struggling PM Suga steps down Takaichi, 60, is expected to announce her candidacy later on Wednesday and if successful would become Japan's first female leader. Kishida said the neo-liberalism and deregulation that Japan has embraced during the reform era of former prime minister Junichiro Koizumi in the early 2000s have widened the gap between the haves and have-nots in the society. "Without distribution of wealth there won't be a rise in consumption and demand...there won't be further growth if distribution of wealth is lost," Kishida said at a presentation of his economic proposals in Tokyo on Wednesday. Kishida repeated a call for an economic stimulus package worth "tens of trillions of yen" to combat the coronavirus pandemic. He said he would use fiscal spending for achieving economic stability while not giving up on fiscal consolidation. He said the Bank of Japan should maintain its 2 per cent inflation target as "it is a global standard" and changing it would send a wrong message to markets, and would leave the sales tax untouched for the time being. Kishida also called for setting up a 10 trillion yen ($90.7 billion) university fund to stimulate science and promotion of renewable energy, while retaining nuclear power technology, which he said should be considered as a clean energy option. Takaichi to join race Takaichi has the backing of former prime minister Shinzo Abe, local media said, and would base her challenge on policies to fend off China's technology threat and help strengthen an economy battered by the coronavirus pandemic. Takaichi became the first female internal affairs minister in the second Abe administration in 2014. But even as local media have said influential Abe has thrown his support behind Takaichi helping her obtain the 20 lawmaker backers needed to run in the leadership election, she has ranked poorly in popularity ratings, which could hamper her chances. Grass-roots LDP members will vote in the leadership election along with the party's members of parliament, and whoever wins will lead the party to the lower house election that must be held by November 28, making public appeal an important factor in choosing the new leader. Takaichi has said she wanted to work on issues left unresolved by previous administrations, such as achieving 2 per cent inflation, and introducing legislation "that prevents the leakage of sensitive information to China". She said an extra budget needed to be compiled as soon as possible to bolster Japan's medical system, which is under strain because of the pandemic. A member of the party's most conservative wing, she often visits the Yasukuni Shrine, a memorial to Japan's war dead. Such visits by Japanese leaders infuriate old wartime foes such as China and South Korea. She has also opposed allowing married couples to keep separate surnames, to the disappointment of promoters of women's rights.

Japan PM contender Kishida says new form of capitalism needed to end disparity, recover from pandemic

Japanese Chief Cabinet Secretary Yoshihide Suga was being expected to turn out people's favourite in the upcoming elections to replace former Prime Minister Shinzo Abe, and the opinion polls are now supporting that assumption.

According to a poll published by a local daily newspaper on Thursday, Suga is the frontrunner in the election race, as around 44 per cent survey-takers said they would like to see Suga replacing Abe.

The longest-serving Prime Minister, Shinzo Abe, had to step down from his post last month confirming the rumours doing rounds about&nbsp;his ill-health.

<a href="https://www.wionews.com/world/abes-longtime-aid-yoshihide-suga-to-run-for-leadership-race-324791">Also read:&nbsp;Abe's longtime aid Yoshihide Suga to run for leadership race</a>

The elections for the post of Liberal Democratic Party’s (LDP) head are scheduled for Setember 14. Suga will be competing against former defence minister Shigeru Ishiba and ex-foreign minister Fumio Kishida. However, political experts are predicting Suga's win. The prediction has been supported by the poll as 36 per cent said they would like to see the former Defence Minister Shigeru Ishiba replacing Abe, whereas 44 per cent supported Suga.

September 08 was the last day for leaders to file their nomination, and the leaders are now allowed to start campaigning for the race.

The poll was conducted by the&nbsp;Social Survey Research Centre and was published in a local daily newspaper&nbsp; Mainichi Shimbun.

The poll has come few days after Suga hinted pushing for snap elections and said he is hopeful about <a href="https://www.wionews.com/world/japans-suga-hopeful-about-tokyo-olympic-games-amid-falling-economy-325911">Tokyo Olympic Games</a>.&nbsp;”We’d like to contain the pandemic and make this happen,” he said. ”There are various, extraordinary merits for Japan to host the Games.”

Japanese Chief Cabinet Secretary Yoshihide Suga was being expected to turn out people's favourite in the upcoming elections to replace former Prime Minister Shinzo Abe, and the opinion polls are now supporting that assumption.

Japanese Chief Cabinet Secretary Yoshihide Suga was being expected to turn out people's favourite in the upcoming elections to replace former Prime Minister Shinzo Abe, and the opinion polls are now supporting that assumption. According to a poll published by a local daily newspaper on Thursday, Suga is the frontrunner in the election race, as around 44 per cent survey-takers said they would like to see Suga replacing Abe. The longest-serving Prime Minister, Shinzo Abe, had to step down from his post last month confirming the rumours doing rounds about his ill-health. Also read: Abe's longtime aid Yoshihide Suga to run for leadership race The elections for the post of Liberal Democratic Party’s (LDP) head are scheduled for Setember 14. Suga will be competing against former defence minister Shigeru Ishiba and ex-foreign minister Fumio Kishida. However, political experts are predicting Suga's win. The prediction has been supported by the poll as 36 per cent said they would like to see the former Defence Minister Shigeru Ishiba replacing Abe, whereas 44 per cent supported Suga. September 08 was the last day for leaders to file their nomination, and the leaders are now allowed to start campaigning for the race. The poll was conducted by the Social Survey Research Centre and was published in a local daily newspaper Mainichi Shimbun. The poll has come few days after Suga hinted pushing for snap elections and said he is hopeful about Tokyo Olympic Games. ”We’d like to contain the pandemic and make this happen,” he said. ”There are various, extraordinary merits for Japan to host the Games.”

Yoshihide Suga frontrunner in race to succeed Shinzo Abe: Poll

After Japan's former Primer Minister Shinzo Abe stepped down fro, his post due to his ill health, people have been guessing which Japanese leaders will be contesting the elections to replace Abe.

A day after former Foreign Minister&nbsp;Fumio Kishida announced his plans to run for elections, Japanese&nbsp;Chief Cabinet Secretary Yoshihide Suga, too, has formally announced his participation in the upcoming elections.

<a href="https://www.wionews.com/world/fumio-kishida-announces-candidacy-to-replace-japans-shinzo-abe-324437">Also read|&nbsp;Fumio Kishida announces candidacy to replace Japan's Shinzo Abe</a>

Suga had earlier declined rumours about running for elections. Abe's loyalist&nbsp;had last week emerged as a strong contender to succeed Abe. However, Suga politely declined the opportunity and instead said he would like to focus on uplifting the economy that has been hit due to the novel coronavirus. "We need to consider what we can do to prevent the economy from falling off a cliff," Suga had earlier said.

However, on Wednesday he announced that&nbsp;he has decided to stand for party leader to avoid a political vacuum during the coronavirus pandemic.

<a href="https://www.wionews.com/world/who-will-replace-abe-and-when-japan-pms-resignation-sparks-leadership-race-323707">Also read|&nbsp;Who will replace Abe and when: Japan PM's resignation sparks leadership race</a>

"In this time of national crisis, we cannot permit a political vacuum," Suga told a briefing. "I decided to run after giving very deep thought to what I can do, as a politician and as a member of Abe`s administration, to bring back as soon as possible the day when people can live without fear."

Abe's longtime aid has made it clear that, if elected, he would continue Abe's aggressive fiscal and monetary stimulus policies and singled out hard-hit rural areas.

Liberal Democratic Party (LDP) will now be hosting elections to replace him as its President on September 14. The candidates are required to register their names on September 08,&nbsp;and can start campaigning immediately after.&nbsp;The parliamentary vote for prime minister will be held on September 16.

After Japan's former Primer Minister Shinzo Abe stepped down fro, his post due to his ill health, people have been guessing which Japanese leaders will be contesting the elections to replace Abe.

After Japan's former Primer Minister Shinzo Abe stepped down fro, his post due to his ill health, people have been guessing which Japanese leaders will be contesting the elections to replace Abe. A day after former Foreign Minister Fumio Kishida announced his plans to run for elections, Japanese Chief Cabinet Secretary Yoshihide Suga, too, has formally announced his participation in the upcoming elections. Also read| Fumio Kishida announces candidacy to replace Japan's Shinzo Abe Suga had earlier declined rumours about running for elections. Abe's loyalist had last week emerged as a strong contender to succeed Abe. However, Suga politely declined the opportunity and instead said he would like to focus on uplifting the economy that has been hit due to the novel coronavirus. "We need to consider what we can do to prevent the economy from falling off a cliff," Suga had earlier said. However, on Wednesday he announced that he has decided to stand for party leader to avoid a political vacuum during the coronavirus pandemic. Also read| Who will replace Abe and when: Japan PM's resignation sparks leadership race "In this time of national crisis, we cannot permit a political vacuum," Suga told a briefing. "I decided to run after giving very deep thought to what I can do, as a politician and as a member of Abe`s administration, to bring back as soon as possible the day when people can live without fear." Abe's longtime aid has made it clear that, if elected, he would continue Abe's aggressive fiscal and monetary stimulus policies and singled out hard-hit rural areas. Liberal Democratic Party (LDP) will now be hosting elections to replace him as its President on September 14. The candidates are required to register their names on September 08, and can start campaigning immediately after. The parliamentary vote for prime minister will be held on September 16.

Abe's longtime aid Yoshihide Suga to run for leadership race

Following the Japanese Prime Minister Shinzo Abe's resignation last week,&nbsp;Former Japanese foreign minister Fumio Kishida has officially announced that he would run for&nbsp;the ruling Liberal Democratic Party (LDP) election.

Kishida is seen as one of the favourites of Abe and had earlier, too, expressed his intentions to run for the elections. However, he has not managed to gain attraction from the masses.

Abe's resignation has brought in the announcement of&nbsp;unexpected elections to replace him.&nbsp;Liberal Democratic Party (LDP) will now be hosting elections to replace him as its president, followed by a vote in parliament to elect a new Prime Minister for the country.

The party will be voting on September 14 and the candidates are required to register their names on September, and can start campaigning immediately after.&nbsp;An official announcement from the Liberal Democratic Party is expected either later Tuesday or Wednesday, but a decision on a limited vote that will exclude rank-and-file members has already been approved.

The&nbsp;parliamentary vote for prime minister will be held on September 16, according to local reports.

<a href="https://www.wionews.com/world/who-will-replace-abe-and-when-japan-pms-resignation-sparks-leadership-race-323707">Also read|&nbsp;Who will replace Abe and when: Japan PM's resignation sparks leadership race</a>

Shinzo Abe resigned last week after weeks of speculation and rumours around his ill-health. The former Prime Minister of Japan has been battling&nbsp;the disease of ulcerative colitis for years and his two recent hospital visits within a week had sparked rumours and concerns about his wellbeing.

“I cannot be prime minister if I cannot make the best decisions for the people. I have decided to step down from my post,” Abe said.

Earlier, last week,&nbsp;loyalist Yoshihide Suga, had&nbsp;emerged as a strong contender to succeed Abe as the prime minister. However, Suga politely declined the opportunity and said he doesn't want the job. Instead, he says, his focus is on uplifting the economy that has been hit due to the novel coronavirus. "We need to consider what we can do to prevent the economy from falling off a cliff," Suga said.

Other than him, former Defence Minister Shigeru Ishiba, is also expected to contest the elctions. He has been an Abe-critic for a very long time, and says he aimsto revive Japan's regional economies. Unlike Kishida, Ishiba is favoured by the public, but not by Parliament members.

Many more names such as Taro Aso, Taro Kono, Shinjiro Koizumi, Toshimitsu Motegi, Katsunobu Kato, Seiko Noda have come forward. However, no official announcements have been made on these names.

Following the Japanese Prime Minister Shinzo Abe's resignation last week, Former Japanese foreign minister Fumio Kishida has officially announced that he would run for the ruling Liberal Democratic Party (LDP) election.

Following the Japanese Prime Minister Shinzo Abe's resignation last week, Former Japanese foreign minister Fumio Kishida has officially announced that he would run for the ruling Liberal Democratic Party (LDP) election. Kishida is seen as one of the favourites of Abe and had earlier, too, expressed his intentions to run for the elections. However, he has not managed to gain attraction from the masses. Abe's resignation has brought in the announcement of unexpected elections to replace him. Liberal Democratic Party (LDP) will now be hosting elections to replace him as its president, followed by a vote in parliament to elect a new Prime Minister for the country. The party will be voting on September 14 and the candidates are required to register their names on September, and can start campaigning immediately after. An official announcement from the Liberal Democratic Party is expected either later Tuesday or Wednesday, but a decision on a limited vote that will exclude rank-and-file members has already been approved. The parliamentary vote for prime minister will be held on September 16, according to local reports. Also read| Who will replace Abe and when: Japan PM's resignation sparks leadership race Shinzo Abe resigned last week after weeks of speculation and rumours around his ill-health. The former Prime Minister of Japan has been battling the disease of ulcerative colitis for years and his two recent hospital visits within a week had sparked rumours and concerns about his wellbeing. “I cannot be prime minister if I cannot make the best decisions for the people. I have decided to step down from my post,” Abe said. Earlier, last week, loyalist Yoshihide Suga, had emerged as a strong contender to succeed Abe as the prime minister. However, Suga politely declined the opportunity and said he doesn't want the job. Instead, he says, his focus is on uplifting the economy that has been hit due to the novel coronavirus. "We need to consider what we can do to prevent the economy from falling off a cliff," Suga said. Other than him, former Defence Minister Shigeru Ishiba, is also expected to contest the elctions. He has been an Abe-critic for a very long time, and says he aimsto revive Japan's regional economies. Unlike Kishida, Ishiba is favoured by the public, but not by Parliament members. Many more names such as Taro Aso, Taro Kono, Shinjiro Koizumi, Toshimitsu Motegi, Katsunobu Kato, Seiko Noda have come forward. However, no official announcements have been made on these names.

Fumio Kishida announces candidacy to replace Japan's Shinzo Abe

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Japan PM contender Kishida says new form of capitalism needed to end disparity, recover from pandemic

Yoshihide Suga frontrunner in race to succeed Shinzo Abe: Poll

Abe's longtime aid Yoshihide Suga to run for leadership race

Fumio Kishida announces candidacy to replace Japan's Shinzo Abe