The coalition led by Japan's ruling Liberal Democratic Party (LDP) has lost its majority in parliament, its worst result in a decade, UNN reports citing the BBC.
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The LDP and its much smaller coalition partner Komeito together won 215 seats, less than the 233 seats needed for a majority. The party's new leader, Shigeru Ishiba, said there are no plans to expand the coalition at this stage.
Ishiba, who called the election just days before he was sworn in as prime minister, vowed to remain in office despite the LDP's loss of its parliamentary majority.
In his speech on Monday, he said that the party had received a "harsh sentence," adding that they would "humbly" accept it.
"The voters have given us a harsh verdict, and we must humbly accept this result," Ishiba told national broadcaster NHK.
"The Japanese people have expressed a strong desire for the LDP to think a little bit and become a party that acts in accordance with the will of the people," he said.
On the eve of the election, Japanese media reported that if the LDP loses its parliamentary majority, Ishiba may resign to take over, making him Japan's shortest-serving prime minister in the postwar period.
This is the first time the LDP has lost its parliamentary majority since 2009. Since its founding in 1955, the party has ruled the country almost uninterruptedly.
This result came after several tumultuous years for the LDP, which witnessed a "cascade" of scandals, widespread voter apathy, and record low approval ratings.
Earlier this year, the party's approval rating dropped below 20% following a scandal involving corruption in political fundraising.
On Monday, Isiba promised to "carry out a fundamental reform on the issue of money and politics.
"We need to respond to the people's criticism. This is how I will take responsibility for the election defeat," he said.
He also promised to revive rural Japan and tackle inflation.
Meanwhile, the largest opposition party, the Constitutional Democratic Party (CDP), has won a preliminary 148 seats, according to NHK.
However, opposition parties have failed to unite or convince voters that they are a viable option for governance. The approval rating of the CDP, which is the main opposition party, was only 6.6% before the dissolution of the parliament.
On Monday morning, the benchmark Nikkei 225 stock index was up about 1.5%, while the yen fell against the US dollar.
Japan's government has changed, Shigeru Ishiba is the new prime minister01.10.24, 12:44