Prime Minister Shinzo Abe to Resign

The media is reporting that Prime Minister Shinzo Abe is going to will resign his post:

Japan’s Prime Minister Shinzo Abe has told executives of his ruling coalition he intends to resign, Japanese media reported on Wednesday.

A spokesman for the Abe’s office could not immediately comment on the report.

On Sunday, Abe had indicated that he would step down if he failed to extend a Japanese naval mission supporting U.S.-led operations in Afghanistan, and opposition parties had been preparing to grill him on the topic in parliament on Wednesday afternoon.

Opposition parties can delay legislation after winning won control of parliament’s upper house in a July election

Abe’s ruling Liberal Democratic Party suffered a drubbing in the July election, and his support ratings have floundered amid a row over pensions and a series of financial scandals involving cabinet ministers.

Financial market players have been worried about the possibility of political instability and a policy vacuum.

The man who is most likely to take Abe’s place is manga-loving LDP secretary-general Taro Aso.

Update
A few reactions to the resignation….

• Politicians criticize Abe over abrupt resignation – Mainichi
• Abe’s resignation ・first thoughts – Observing Japan
• Prime Minister Abe Resigns – Trans-Pacific Radio
• Breaking news: Abe to resign – Ampontan
• The Long Sayonara – Richard Lloyd Parry

And the video of Abe’s resignation speech: