The Liberal Democratic Party will hold its presidential election Sept. 21, with candidacy applications to be submitted Sept. 9, a party panel decided Wednesday.
Prime Minister Keizo Obuchi, who is currently serving out the remainder of the LDP presidency of his predecessor, Ryutaro Hashimoto, is expected to run in the race.
On Wednesday, the LDP panel approved the schedule proposed by Secretary General Yoshiro Mori. An extraordinary party convention is expected to be held around Sept. 22, when the results of the election are to be reported.
The schedule will be formally decided with approval of the party's decision-making Executive Council as early as Friday, party officials said.
Former Secretary General Koichi Kato is considered to be one of the strongest potential challengers to Obuchi in the race.
In addition, Taku Yamasaki, a former LDP policy affairs chief who launched a new party faction in December, has already expressed his intention of running.