JAPAN: Japanese prime minister Junichiro Koizumi vowed yesterday to press ahead with postal reforms after a sweeping election victory and dismissed criticism that he has few other concrete plans on his policy agenda.
Despite his mandate, Mr Koizumi (63) reiterated yesterday his intention to step down next year and said his successor should also be reform-minded.
Mr Koizumi's Liberal Democratic Party (LDP) took 296 seats in the 480-seat lower house of parliament, the first time it has won a majority in 15 years, media reports said.
The final tally is due on Friday.
Coalition partner New Komeito took 31 seats, allowing the ruling bloc to dominate the chamber with majorities in all committees and override the upper house if need be. The alliance was reaffirmed yesterday after Mr Koizumi met New Komeito leader Takenori Kanzaki. The landslide vindicated the media-savvy Mr Koizumi's gamble to appeal directly for voters to back his plan to privatise Japan Post, a financial services giant that includes a savings bank and insurance business with a combined $3 trillion in assets.
"The election was carried out under difficult circumstances at first," Mr Koizumi told a news conference. "In the end, we got much more support from the people of Japan than expected."
Mr Koizumi will resubmit the postal reforms to the upper house during a special session of parliament expected to start on September 21st, and their passage seems likely.
Pressure to move ahead on other policy fronts will be intense, from both financial markets and voters, analysts said, but Mr Koizumi dismissed criticism that he lacks a concrete agenda.
"I intend to push forward policies on other issues of concern to the people, such as social insurance, in parallel with postal reform," he said, without giving details. - (Reuters)