CHIBA -- Junichiro Koizumi, the No. 2 man in the Liberal Democratic Party faction led by Prime Minister Yoshiro Mori, suggested Tuesday he may be ready to run in a party race to choose a new leader to succeed Mori.

"I want to explore ways to respond to the people's expectations by demonstrating resolve to restart the party from scratch," Koizumi said at a meeting in Matsudo, Chiba Prefecture.

Koizumi, a former health and welfare minister, has been mentioned as a potential candidate in the LDP presidential election, whose timing has yet to be officially set but could be held as early as April.