“The Japanese people have expressed their deep desire for the LDP to reflect and become a party that acts in accordance with the will of the people,” Ishiba told national broadcaster NHK.

The LDP and its much smaller coalition partner, Komeito, won a combined 215 seats, far short of the 233-seat majority needed to govern.

This is the first time that the LDP has lost its parliamentary majority since 2009. The party has ruled Japan almost continuously since 1955.

This result comes after a tumultuous few years for the PLD, marked by a cascade of scandals, widespread voter apathy and record approval ratings.

The party had recorded an approval rating below 20% earlier in the year, following a corruption scandal linked to political fundraising.

Ishiba pledged Monday to “enact fundamental reform regarding the issue of money and politics.”

“We must respond to the people’s criticism. This is how I will take responsibility for the loss of the elections,” he said.

He also promised to revitalize rural Japan and fight inflation.

Japan’s Parliament now has 30 days to meet and choose a prime minister. The chosen prime minister’s party or coalition will form the government and can do so even without a majority of seats.

Ishiba said there were no plans to expand his political coalition at this stage. This raises the likely possibility that he will retain his post as prime minister and his coalition will continue to rule Japan without a majority. But it also means that they will no longer have the power to legislate unilaterally.

Another possibility is for opposition parties to unite to form the government – ​​the largest party, the Constitutional Democratic Party (CDP), won 148 seats, up from 98.

But this is a more unlikely scenario, as Japan’s opposition parties have historically struggled to unite or convince voters that they are a viable option for governing.

The CDP had a popularity rating of only 6.6% before the dissolution of Parliament.