Yoshihide Suga, Japan's prime minister, has announced that he will not seek re-election as party leader this month, effectively ending his tenure.

Following Shinzo Abe's resignation, Mr Suga was appointed to the position a year ago.

Mr Suga's approval ratings have plunged to an all-time low as a result of the shocking disclosure.

Japan, which is still in a state of emergency, is currently dealing with the worst Covid wave it has ever seen.

The country has seen a delayed vaccination rollout, despite the fact that there have been more than 1.5 million viral cases.

The decision to hold the Olympics this year despite the worsening pandemic was also widely criticized.

According to an AFP story, "Today at the executive meeting, [Mr] Suga said he wants to focus his efforts on anti-coronavirus measures and will not run in the leadership election," according to the secretary general of Mr Suga's Liberal Democratic Party (LDP).

"To be honest, I'm taken aback. It's terribly unfortunate. He did his best, but after much thought, he came to this conclusion "he stated

The broad Topix stock index climbed quickly in response to the news, finishing up 1.6 percent after reaching its highest level in three decades.

Tokyo's stock markets have risen this week on expectations of a stronger administration ahead of the ruling party's leadership contest and a general election later this year.

On September 29, the ruling LDP will hold a presidential election. Because the LDP has a parliamentary majority, the winner of the leadership election is widely projected to become Japan's leader.

The 72-year-old, who comes from a strawberry farming family, was first elected to the Yokohama City Council in 1987, and then to Japan's Diet for the first time in 1996.

He was appointed senior deputy minister of internal affairs and communication by Prime Minister Junichiro Koizumi in 2005.

Shinzo Abe, Mr. Koizumi's successor, promoted him to minister with three cabinet posts the following year, which he retained until 2007.