Japan Innovation Party to finalize coalition deal with LDP: media

TOKYO, Oct. 19 (Xinhua) -- The Japan Innovation Party on Sunday agreed to grant its party leaders full authority to decide on entering a coalition government with the ruling Liberal Democratic Party (LDP), local media reported.

The party will hold an emergency executive session on Monday to formally finalize its stance, Kyodo News reported.

The agreement will effectively pave the way for LDP President Sanae Takaichi to secure victory in an upcoming prime ministerial designation vote.

Japan's public broadcaster NHK reported that the LDP has largely accepted several conditions previously put forward by the Japan Innovation Party.

Following the signing of the agreement, Takaichi is expected to win the prime ministerial designation election scheduled for Oct. 21. She is likely to become Japan's next prime minister.

Japan's prime minister is chosen through a vote in both chambers of the Diet, or parliament. A candidate who wins a simple majority in the first round is declared elected. If no candidate reaches that threshold, a runoff is held between the top two contenders, with the one receiving more votes declared the winner. ■