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Edition: U.S. Article Comments (1) Slideshow Video Save Email Print Reprints Most Popular Most Shared BP sees progress on new oil containment system 2:50am EDT Tired Gay succumbs to Dix in 200 meters 03 Jul 2010 Germans shell-shocked by oracle octopus 06 Jul 2010 Japan PM's party at risk of setback in Sunday vote 10 Jul 2010 Spain grab World Cup with extra-time goal | Video 11 Jul 2010 Uganda bombings kill 64 as World Cup fans targeted 3:30am EDT German fans want revenge grilling of oracle octopus 08 Jul 2010 Federal Reserve worry list gets longer 11 Jul 2010 White House: Republicans could win control of House 11 Jul 2010 U.S. troops face Afghan enemy too young to kill 11 Jul 2010 Tired Gay succumbs to Dix in 200 meters 03 Jul 2010 Uganda bombings kill 64 as World Cup fans targeted 3:30am EDT Germans shell-shocked by oracle octopus 06 Jul 2010 Spain grab World Cup with extra-time goal | Video 11 Jul 2010 Fidel Castro makes first appearance in four years 10 Jul 2010 Rising sea drives Panama islanders to mainland 1:09am EDT Uruguay's Forlan named player of World Cup 11 Jul 2010 German fans want revenge grilling of oracle octopus 08 Jul 2010 Pandora founder pursues bigger piece of radio pie 09 Jul 2010 BP sees progress on new oil containment system 2:50am EDT Japan faces policy gridlock as ruling party reels Digg This Tweet This Share on LinkedIn Share on Facebook Factboxes Japan ruling party's possible coalition partners Sun, Jul 11 2010 Japan ruling party "shadow shogun" in the spotlight Sun, Jul 11 2010 Five facts about Japanese PM Naoto Kan Sun, Jul 11 2010 Policies at stake after government loses election 12:42am EDT Related News Japan markets may face some pressure after vote Sun, Jul 11 2010 Snap Analysis: Voters punish Japan's DPJ; policy deadlock ahead Sun, Jul 11 2010 Related Topics World » Japan » Related Video Exit poll setback for Japan PM Sun, Jul 11 2010 1 / 4 Election officers count votes at a ballot counting center for the upper house election in Tokyo July 11, 2010. Credit: Reuters/Yuriko Nakao By Linda Sieg TOKYO | Mon Jul 12, 2010 12:42am EDT TOKYO (Reuters) - Japan faced political gridlock after the ruling party's thrashing in an election on Sunday, which could thwart efforts to curb a huge public debt and get the economy in shape, and put Prime Minister Naoto Kan's job at risk. Voters dealt Kan's Democratic Party of Japan (DPJ) a stinging rebuke, depriving it and a tiny ally of an upper house majority less than a year after the DPJ swept to power promising change. The DPJ won just 44 seats, far short of Kan's goal of 54, and its partner the People's New Party got none, media said. The main opposition Liberal Democratic Party (LDP) won 51 seats. The Democrats still control the more powerful lower house. But they need help from other parties to push bills through the upper house as they struggle to end decades of stagnation in the world's No.2 economy and to cut the massive public debt. "We're likely to have lost another two years stuck in parliamentary gridlock rather than action," said Jesper Koll, director of equity research at JP Morgan Securities Japan. Japan's economy is recovering but analysts wonder for how long. Japanese manufacturing confidence edged up in July to its best in 2- years, but the pace of gain slowed, a Reuters poll showed, in a sign companies may be wary of a slowing growth. The election results also leave Kan vulnerable to a challenge from inside his own party, though he said he would stay in his job. Kan, in office just one month, is already the fifth prime minister in three years. MARKETS BLASE, POTENTIAL PARTNERS COOL Markets have taken the election outcome in their stride, for now. The Nikkei share average inched up after a weak start, the yen eased a tad against the dollar, and Japanese government bond futures edged higher. The DPJ won power in a historic landslide only last year, ousting the long-dominant conservative Liberal Democrats with promises to cut waste and focus spending on consumers. But public backing nosedived due to funding scandals, chaotic policymaking and mishandling of a feud over a U.S. airbase in southern Japan. Public support for the DPJ rebounded when Kan took over last month, but it tumbled as soon as he floated a rise in the 5 percent sales tax, and then appeared to dither. Many voters accept the need for an eventual sales tax rise given a public debt already about twice the size of the $5 trillion economy, but the Democrats failed to convince voters they had a coherent plan to cure the country's economic ills. Kan now faces a possible challenge from party critics including powerbroker Ichiro Ozawa -- a critic of his sales tax hike proposal -- ahead of a September party leadership vote. Analysts noted, though, that Ozawa's clout had not been bolstered by the election, since many candidates he supported had lost. The premier said early on Monday that the Democrats would ask opposition parties to cooperate on a policy-by-policy basis rather than invite them into a formal coalition right away. Two potential partners, the Your Party - which favors small government and market-friendly reforms -- and the Buddhist-backed New Komeito, rejected the idea of joining the government anyway. "Forming a coalition is like getting married. It has become clear that the Democrats are all talk and no action and I cannot marry a person like that," Your Party leader Yoshimi Watanabe told a morning TV talk show. LDP leader Sadakazu Tanigaki also said his party was willing to talk about policies but ruled out any "grand coalition" -- although analysts speculated that might be the only way forward. The government's most urgent task will be to draft budget guidelines for fiscal 2011012 from April 2011, and market players will be watching to see if they can hold the line on borrowing. But even if they enact a budget, related bills needed to implement it would likely get stuck in the upper house. "Voters were not trying to create political confusion, but that is the result," said independent political analyst Hirotaka Futatsuki, adding calls for a snap lower house election would likely grow. No lower house poll need be held until 2013. Analysts have said opposition parties would drive hard policy bargains with the Democrats in return for any support, raising hopes among some experts that a deal with the Your Party would foster the deregulation many see as vital for growth. (Additional reporting by Kiyoshi Takenaka, Yoko Nishikawa, Shinichi Saoshiro and Leika Kihara, editing by Jonathan Thatcher) World Japan Comments See All Comments (1) | Post Comment Jul 12, 2010 1:03am EDT I wonder how many American spies are in Japan? BubbaTheGreat Report As Abusive See All Comments (1) Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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