Japanese Prime Minister Shigeru Ishiba denied reports that he would resign after a crushing defeat in the high house election.
The 68-year-old said media reports that he had decided to resign were completely baseless.
Ishiba chose not to resign immediately after the election to prevent political instability ahead of August 1 to reach a trade agreement with the US, said a source close to the prime minister.
Ishiba and Trump announced a trade agreement on Tuesday lowering Japanese car import rates and exempting Tokyo from the obligation to impose new levies on other items.
Ishiba will announce his resignation next month, Japan's media reports earlier.
If he does resign, his departure less than a year after taking office will trigger a succession within the ruling Liberal Democratic Party as the party faces challenges from new political parties, especially from the far right, who stole his support.
Among them was the extreme far-right "Japanese First" Sanseito who jumped in the vote on Sunday, increasing its representative in the 248-member upper house to 14 from one.
The party has attracted voters with promises to curb immigration, cut taxes, and provide financial assistance to households that are squeezed by price increases.
Ishiba beat Sanae Takaichi, a hardline conservative, in last year's party leadership lap.
Anyone who replaces him as chairman of the LDP must rule without a majority in the two parliamentary assemblies after the government's defeat in the lower house elections in October.
The main priority of each new leader is to secure support from enough opposition party lawmakers to win the inauguration as prime ministers.
A leader who will come will most likely not immediately hold elections, but delay strengthening the party's appeal before getting a mandate from voters.
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