Japan's Ruling Party Poised For Landslide In Snap Elections

By Scott Neuman

Published December 14, 2014 at 8:07 AM CST

Japanese Prime Minister Shinzo Abe, leader of the Liberal Democratic Party, smiles as he places a red rosette on the name of his Liberal Democratic Party's winning candidate during ballot counting.

Exit polls show the ruling Liberal Democratic Party of Japan's Prime Minister Shinzo Abe is heading for a landslide victory in elections for the lower house.

The LDP and its junior coalition partner, the Buddhist-backed Komeito party, were projected to secure 300 of the 475-seat House of Representatives in an election billed as a touchstone for Abe's rule, according to Kyodo news service.

Abe called the snap elections in hopes of shoring up his two-year tenure and pushing forward with a difficult political and economic overhaul plan, known as Abenomics.

The Associated Press notes: "Share prices have risen and many companies have reported record profits, but the recovery has faltered in recent months, with the country returning to recession after a sales tax hike chilled demand among consumers and businesses."

Finance Minister Taro Aso, himself a former prime minister, said the vote "shows that voters gave the Abe administration a positive evaluation over the past two years.

"Abenomics is still halfway through, and I feel a strong sense of responsibility to push it further," Aso said.

The victory "virtually [ensures] Abe's re-election as prime minister later this month, and as LDP president next fall, keeping him in power for another three years," Kyodo says.