Japan's Prime Minister Shigeru Ishiba to Resign։ Reuters

Japanese Prime Minister Shigeru Ishiba has decided to leave the post of head of government. This is reported by Reuters, citing the Mainichi newspaper. For the first time since 1955, the ruling Liberal Democratic Party has lost control of both houses of parliament.

Pressure within the LDP and a drop in approval ratings below 23% have made his resignation inevitable.

Ishiba is expected to officially step down by the end of August, after the conclusion of $550 billion trade negotiations with the US.

The names of likely candidates are already circulating: Sanae Takaichi, an ultra-conservative who supports revising the constitution; Shinjiro Koizumi, a media reformer and son of a former prime minister; and Toshimitsu Motegi, an "old-school" diplomat.