Japanese Prime Minister Shigeru Ishiba on Monday acknowledged voter dissatisfaction and pledged significant reforms within the ruling Liberal Democratic Party (LDP) after the party faced a historic defeat in snap elections amid a political funding scandal.

The snap elections, held Sunday, came just 26 days after the LDP and its coalition partner Komeito elected Ishiba as Japan’s 102nd prime minister.

In a major political shift, the LDP and Komeito won a combined 215 seats—191 for the LDP and 24 for Komeito—falling short of the 233 needed for a majority in the 465-seat lower house of parliament.

Calling the election results a “severe verdict from the voters,” Ishiba said during a news conference in Tokyo that he would lead a sweeping reform of the party, which has ruled Japan almost continuously since 1955.

Regarding the formation of a new government, Ishiba indicated that the LDP would engage in negotiations both within the party and with opposition groups to secure enough support to form a government.

He expressed a willingness to negotiate with opposition parties on specific policy issues, signaling that the LDP might seek outside support to establish the new Cabinet, which must be formed within a month of election day.

The election outcome marked a significant shift in Japanese politics, ending the LDP’s dominance since 2009.

The main opposition party, the Constitutional Democratic Party of Japan (CDPJ), gained 148 seats, making substantial progress. The Japan Innovation Party emerged as the third-largest party with 38 seats, followed by the Democratic Party for the People (DPP) with 28 seats. Smaller parties, including Reiwa Shinsengumi with nine seats and the Japanese Communist Party with eight, divided the remaining seats, while independents claimed 12 seats.

DPP leader Yuichiro Tamaki expressed openness to policy coordination with both the LDP and CDPJ.

When asked whether he should resign to take responsibility for the LDP’s historic loss, Ishiba said his focus would remain on addressing Japan’s security challenges and its sluggish economy, which has struggled for decades.

Shinjiro Koizumi, the LDP’s election strategy chief, after the election, taking responsibility for the defeat.

Ishiba, who took office on Oct. 1, called for snap elections at a time when the LDP was under public scrutiny over political funding scandals, coupled with economic challenges and stagnant wages.

The election saw more than 45,000 polling stations open nationwide for approximately 105 million eligible voters. Voter turnout is expected to be around 53%, 2.8% lower than in the previous election.

More than 1,300 candidates competed for the 465 seats, with 289 contested in single-seat constituencies and 176 through proportional representation.