Japan's ruling party is preparing to defy public anger and young rebels within its own ranks today by choosing the acknowledged lacklustre Foreign Minister, Mr Keizo Obuchi, as the next prime minister, surveys predicted yesterday.
The Liberal Democratic Party slumped to a record low in a public opinion poll in despair over the heavy backing it is giving Mr Obuchi, the least popular of the three candidates.
About 20 young LDP members backing Mr Obuchi's rivals met and some threatened to quit the party if he wins or to boycott a July 30th parliamentary session which confirms the new prime minister, Kyodo News said.
"The rift between public opinion and the LDP election is too big," said Mr Tadayoshi Iijima, one of the young LDP members calling for the Obuchi rivals to join forces.
The rebels, mostly from city seats which suffered heavily in July 12th upper house elections, would consider setting up a new party and hold a rally today to stop Mr Obuchi gaining power, he said.
Mr Obuchi heads the largest LDP faction and on the eve of the vote commanded a wide lead over his two rivals.
"I know what people say about me," Mr Obuchi said, addressing members of the LDP in an unprecedented televised husting by the three candidates for the top job. "I am said to be very, very ordinary. I am said to be mild and good in nature . . . but I want you to understand that I am a man who does what should be done," he said. "I want to launch major reforms with the hand of the devil and the heart of Buddha."
Mr Obuchi stands far ahead of his two rivals for the leadership of the party and the ensuing premiership - Health Minister, Mr Junichiro Koizumi, and political veteran, Mr Seiroku Kajiyama.
He came to prominence in 1989 when as chief cabinet secretary he announced the start of a new era after the death of Emperor Hirohito.
But he has served in the lower house of the Diet since he was first elected at the age of 26. He has been re-elected 12 times.
"The soft-spoken Obuchi has virtually no enemies in his party and is well-liked for his homespun style," said Mr John Neuffer, senior research fellow at the Mitsui Marine Research Institute.
His biggest handicaps, said Mr Neuffer, were his "dull-boy image" and lack of economic expertise at a time when Japan's economy is gripped by recession.
But support for the LDP plunged 8.0 percentage points in a month to a record low of 20.7 percent in July, according to a survey by the Yomiuri newspaper, citing disaffection with the party's faction-based choice for a new leader. Financial markets, which fear Mr Obuchi's declared lack of economic experience, dropped fast as rating agency Moody's Investors Service cast its own vote by threatening to downgrade the country's credit rating.
The Japanese yen tumbled against the dollar on the report, falling more than one yen in minutes. The yen hit a low of 142.10 yen, its worst rate for a month, before recovering slightly at 5 p.m. To win the LDP presidency, Mr Obuchi (61) must get a majority of votes from the party's 414 lawmakers and representatives.
Failure to get a majority will lead to an immediate second round with the lowest polling candidate dropping out.
The vote is to replace Mr Ryutaro Hashimoto who resigned after the LDP's humiliation in the upper house polls.
A man armed with a knife tried to force his way into the headquarters of the LDP on Thursday, but was apprehended by police, a party official said. No one was hurt in the incident.