Ishiba's resignation will trigger a leadership race in his Liberal Democratic Party, with the winner facing a parliament vote to become prime minister.
Here is a list of lawmakers who might throw their hats in the ring:
Sanae Takaichi, 64:
A party veteran who has held a variety of roles, including economic security and internal affairs minister, she lost to Ishiba in the LDP leadership race in a run-off vote last year.
Takaichi stands out for her vocal opposition to the Bank of Japan's interest rate hikes and her calls to ramp up spending to boost the fragile economy.
Heir to a political dynasty with a hand in governing Japan for more than a century, Koizumi would become its youngest prime minister in the modern era.
Unlike Takaichi, who left government after her defeat in that contest, the Columbia University-educated Koizumi stayed close to Ishiba as his agriculture minister, overseeing a widely publicised attempt to curb soaring rice prices.
Yoshimasa Hayashi, 64:
He has held a variety of portfolios, including defence, foreign and agriculture minister, often being tapped as a pinch-hitter following an incumbent's resignation.
Hayashi ran for the LDP leadership race in 2012 and 2024. He has repeatedly called for respecting the BOJ's independence on monetary policy.
Yoshihiko Noda, 68:
As premier from 2011 to 2012, he worked with the LDP to push through legislation to double Japan's consumption tax to 10% to help curb bulging public debt - earning a reputation as a fiscal hawk. The consumption tax was raised to 10% in 2019 for most items.
Opposition - Democratic Party for the People
Tamaki's centre-right party is one of the fastest-growing in recent elections.
He supports boosting defence capabilities, stricter regulations for foreigners' land acquisition and constructing more nuclear power plants.
REUTERS
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