Aug. 16, 2012, midnight
Japanese Prime Minister Yoshihiko NODA has promised to hold elections once a consumption tax bill passes through the House of Councillors. The opposition Liberal Democratic Party threatened to withdraw their support for the measure unless new elections are held. The support of the Liberal Democratic Party is important for the passage of the consumption tax increase, and they are expecting to parlay the new elections to gain a majority in the House of Representatives. A date for the election is forthcoming.