Abe announces his resignation

On Friday, Japanese Prime Minister Shinzo Abe announced his intention to step down at a nationally televised press conference, citing his declining health, Report says, citing  Kyodo.

"I will not be able to make proper judgments due to illness," Abe was quoted by an LDP executive as telling party members on his reason for the decision. He said senior party officials to pick his successor quickly.

Abe will not name an acting prime minister but serve until the next leader is chosen. According to sources familiar with the matter, the LDP will decide next Tuesday on how to hold a leadership election, with parliamentarians and representatives of local chapters likely casting ballots.