Veteran lawmaker Yoichi Masuzoe on Monday issued what could be taken as an ultimatum to his ailing Liberal Democratic Party, saying that a failure to restructure will not only push the public to abandon it but may force its ranks to split as well.

In a speech at the Foreign Correspondents' Club of Japan in Tokyo, Masuzoe said he was "exploring both options" — reconstructing the LDP or creating a separate group.

Masuzoe said he has been in touch with others who share similar views, including Your Party chief Yoshimi Watanabe.