Fukuda Doctrine
Takeo Fukuda was an expert in economics. He took on the role of an ‘economic prime minister’ under Miki's administration from 1974 to 1976. During this time, he established the Ministerial Conference on Economic Measures, enabling cross-ministry and agency talks on finance, wage and labor issues.
Fukuda subsequently became the 67th prime minister of Japan, lasting for only one term from 1976 to 1978. However, he was not forced out of office before he had gotten two major diplomatic reforms executed. Under Fukuda cabinet, Japan conducted an omnidirectional peace diplomacy, and signed Japan-China Treaty of Peace and Friendship in 1978. He pushed forward Japan's pacifistic position while making an effort to strengthen relations with Asian countries.
2012 Japanese general election
The LDP had governed Japan for all but three years since 1955. However, in the 2009 election, the LDP suffered the worst defeat of a sitting government in modern Japanese history. Due to the characteristics of the Japanese election system, DPJ candidates won 308 seats in the House of Representatives (64.2% of seats), enabling Yukio Hatoyama to become prime minister. Since then, Japan has had two other prime ministers, Naoto Kan and Yoshihiko Noda. On 16 November, Noda dissolved parliament, thus allowing for a new election in a month's time. He cited the lack of funds to carry on the functions of government and the need for an emergency budget.