Japan eyes elections, Koizumi demurs

Koizumi's approval rating nears 80 percent thanks to his platform of reform and economic revival

In this story: Stock market cheered Reform, Reform, Reform Keep his promises RELATED STORIES, SITES

By staff and wire reports

TOKYO, Japan -- Evidence that most Japan's voters want an election this year is being seen as a fresh sign that reformist Prime Minister Junichiro Koizumi might consider a snap poll.

Koizumi, buoyed by record support levels just days into his new job, on Monday denied he planned to use his popularity to call an early election for parliament's powerful Lower House.

But speculation persists that his ruling Liberal Democratic Party (LDP) might seize on his early popularity and attempt to boost its standing in the Lower House.

Lower House elections were held in June last year, and no election need be held until the summer of 2004, but the prime minister has the right to dissolve the chamber at any time.

A survey by the right-leaning Sankei Shimbun newspaper -- the fifth most popular newspaper in the nation -- showed 66.7 percent of voters said they wanted to see an election for the Lower House within the year, if not sooner.

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The conservative LDP lost its majority in a general election just last June and has stayed in power by virtue of its two coalition partners.

Mirroring a slew of public opinion polls over the past three days, the survey showed a record 80.9 percent of voters surveyed at the weekend approved of Koizumi's new government.

Stock market cheered

The stock market was also cheered, jumping more than two percent to its highest level this year by noon, with investors encouraged by a recovery in the U.S. Nasdaq and Japan's pledge on structural reforms.

Koizumi, 59, swept to power last week to become head of the LDP, and hence the nation, after his calls for reform of the ailing economy and a change in the party that has ruled for nearly half a century resonated with rank-and-file LDP members.

Ruling coalition lawmakers had been keen to replace the hugely unpopular Yoshiro Mori, whose public support slid to single-digit levels after a string of verbal gaffes and blunders, ahead of an Upper House election in July.

Reform, Reform, Reform

Almost 50 percent of the respondents said they favored an LDP-led coalition at the helm of the government.

Support for the LDP rose 10.9 percent from a February survey to 32.2 percent, while that for the opposition Democratic Party slipped six points to 11.9 percent.

In a separate survey by the Nihon Keizai Shimbun business daily, more than 90 percent of 90 company presidents said they wanted Koizumi to keep his promise to put priority on economic structural reforms rather than old-style pump-priming.

Keep his promises

Analysts and politicians, however, warned that Koizumi's popularity could fall as dramatically as it had surged if he failed to keep his promises of change. "I think about 20 to 30 percent is a bubble," said political commentator Nobuhiko Shima.

Chief Cabinet Secretary Yasuo Fukuda told a news conference that Koizumi's high ratings were in part a reaction to the record low's hit by his predecessor.

"The high support is an expression of hope," Fukuda said.

"The issue is whether, as time passes, this will turn into true trust. We must make every effort to realize that."

One clue to whether Koizumi's early popularity can translate into LDP electoral success will come in a closely watched poll for the Tokyo Metropolitan assembly, set for June 24.

Reuters contributed to this report.

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