The Nikkei stock index's rise to an all-time high is unlikely to help buoy Japanese Prime Minister Fumio Kishida's government, which has been mired in political funds and other scandals, as the public considers the bullish market as unrelated to his policies.
Yoshitaka Ikeda became the first lawmaker arrested in the latest political fundraising scandal involving the Japanese ruling Liberal Democratic Party's largest faction, further blurring Prime Minister Fumio Kishida's political fate.
Japanese Prime Minister Fumio Kishida has been compelled to rely more on former Prime Minister Taro Aso, called a "kingmaker" by critics, to maintain his administration amid a political fundraising scandal involving his Liberal Democratic Party.
The largest faction of the ruling Liberal Democratic Party is suspected of having misappropriated revenue from fundraising parties to support upper house election campaigns for years, a source familiar with the matter says.
Japanese Prime Minister Fumio Kishida is likely to retain his Liberal Democratic Party's two heavyweights, Toshimitsu Motegi and Taro Aso, at their current posts in a leadership reshuffle expected next week, party sources say.