The Liberal Democratic Party and the Japan Innovation Party agreed on Wednesday to initiate policy discussions aimed at forming a coalition government, following the Komeito Party's withdrawal from the long-standing LDP–led alliance, according to The Kyodo News.

Sanae Takaichi, the new LDP president, held consecutive meetings on Wednesday with the leaders of three opposition parties in an effort to gain their backing in the upcoming vote to secure the next prime minister.

The Asahi Shimbun reported that the JIP, the third-largest political force in the lower house, would vote for Takaichi if an agreement is reached on policies between the two parties. JIP leader Hirofumi Yoshimura commented on talks with Takaichi on Wednesday.

Yoshimura, who is also the Osaka governor, quoted her as saying, "Let's work together to move Japan forward," adding she asked for the JIP's cooperation in the prime minister vote at the Diet. He said, "I was convinced by her passion."

A coalition between the LDP and JIP would hold 231 of the 465 seats in the lower house — just two shy of a majority — significantly increasing Takaichi's prospects of becoming Japan's first female prime minister.

Leaders of the opposition Constitutional Democratic Party of Japan, Japan Innovation Party, and Democratic Party for the People also met on Wednesday to discuss their stance on the vote.

However, Japanese media reported that they failed to reach common ground on basic policy issues and decided to continue discussions.

If the three opposition parties join forces, they would control 210 seats in the House of Representatives, surpassing the LDP's 196 seats. If they also unite behind a single candidate in the prime minister vote, a change of government could be just around the corner.

The Japanese government informed the Diet on Wednesday that an extraordinary parliamentary session, initially planned for this week to elect a new prime minister, will now begin on Oct 21.