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Japanese voters will head to the polls on Oct. 22.
Politics

Party of Hope could be the devil's advocate the LDP needs

Tokyo governor's new party may not be all bad for Abe after all

GAKU SHIMADA, Nikkei staff writer | Japan

TOKYO -- Although Japan's ruling Liberal Democratic Party considers the Kibo no To, or Party of Hope, a major threat ahead of a general election on Oct. 22, some have begun counting on the upstart party to voice controversial opinions that the LDP may not be ready to raise itself.

On Friday, Party of Hope chief and Tokyo Gov. Yuriko Koike announced that her party will pledge to create a tax on corporate internal reserves "in order to prompt a fluid movement of money." She claimed that the tax will encourage companies to spend more on capital investment, dividends and employee benefits instead of sitting on their cash.

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