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Abe's LDP Wins Japan Elections, Exit Polls Show

12/16/2012 9:57 AM ET

The Liberal Democratic Party (LDP), led by former Prime Minister Shinzo Abe, is poised for a landslide victory in Japan after Sunday's elections, reports said citing exit poll surveys.

Broadcaster NHK said that LDP has won majority seats in the 480-member lower house of Parliament.

Meanwhile, Nikkei reported that LDP may form a coalition government with junior partner New Komeito.

The ruling Democratic Party of Japan has 267 candidates in the running while the LDP has 338 contestants in the fray. The other smaller parties contesting the elections include the Japan Restoration Party with 172 candidates and the Tomorrow Party of Japan having 121 contestants.

Japan's lower house of parliament was dissolved by Prime Minister Yoshihiko Noda on November 16.

Abe has pledged to adopt a tougher stand with China on territorial disputes in the Pacific and supports more nuclear power generation in the country.

He has vowed to defeat deflation and advocates further quantitative easing by the Bank of Japan.

by RTT Staff Writer

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