The embattled Your Party is set to name a new leader as early as Friday to replace Yoshimi Watanabe, who Monday expressed his intention to resign as party chief amid a money scandal.
The party's policy research chief, Kenichi Mizuno, said Tuesday that an election is likely to be held during Friday's meeting of party members. Watanabe's resignation was approved at an executives' meeting Tuesday.
Regardless of who becomes the new leader, the minor opposition party's influence in politics is expected to be significantly diminished as it has been touting a scandal-free image.