Japanese PM Apologizes For Distributing Gifts To Members Of Parliament

Japanese Prime Minister Shigeru Ishiba (center) PHOTO via Wikimedia Commons

Japanese Prime Minister Shigeru Ishiba apologized for giving gifts to several lawmakers in power.

Ishiba's actions are considered to be able to undermine the level of trust in his government which is already low and risk delaying the ratification of the next fiscal year's budget.

Political uncertainty could cast doubt on Ishiba's leadership ahead of the election of the upper house set in July, and comes at a time when Japan's economy faces barriers to an escalating trade war echoed by US President Donald Trump.

"Market volatility is increasing due to uncertainty over US and European economic policies. Now, however, market participants may need to pay closer attention to domestic political developments," said Yusuke Matsumoto, senior market economist at Mizuho Securities.

While speaking in parliament, Ishiba said he used a "lockpocket" to distribute gifts to 15 lawmakers from the Liberal Democratic Party (LDP) before dinner with them on March 3 as "expression of appreciation" for their hard work to be selected.

Local media reported on Thursday that Ishiba handed over prize certificates worth 100,000 yen ($673) each to lawmakers.

When asked by reporters whether he would resign, Ishiba only said the gift did not violate any law, according to the Nikkei newspaper.

"My actions have created distrust and anger among many people, which I apologize profusely for," Ishiba told parliament on Friday in response to a question from a ruling party lawmaker.

Although Ishiba said the action was not illegal because it was a personal gift without political intent, it drew criticism even from within the LDP coalition partners and calls from several opposition parties for him to resign.

Japan will hold elections around July for the upper house, where a narrow majority of the ruling coalition could also be threatened if Ishiba could not restore public trust rocked by previous political issues over unregistered donations to lawmakers.