Japanese Prime Minister Denies Resignation Rumors

Japanese Prime Minister Shigeru Ishiba has denied reports that he intends to resign from his post following an election defeat in the Upper House. The 68-year-old leader called the media reports "completely unfounded."

Resignation rumors circulated after the ruling coalition lost its majority in the Upper House. A source close to the Prime Minister stated that Ishiba decided not to resign immediately after the election in order to avoid political instability, ahead of the August 1 deadline for reaching a trade agreement with the United States.

Reports in the Mainichi and Yomiuri newspapers stated that Ishiba had expressed to close associates his intention to leave office at the end of August.

U.S. President Donald Trump announced an agreement with Japan on trade relations.