The political landscape of the world's second largest economy has been redrawn.
The Conservative LDP has been in power ever since the post-war recovery in Japan, a period of over 50 years. It formed a so-called "iron triangle" consisting of itself, the bureaucracy and Japanese business. Defeated LDP president and PM, Taro Aso, said he would step down as party leader. Among the criticisms levelled at the LDP was that it was "sluggish" to respond to the economic crisis.
Japan has a bicameral Parliament (i.e. two houses). e.g. US -> House of Representatives, House of Councillors (upper house), UK -> House of Commons, House of Lords. (one house to represent aristocracy, one house to represent commoners - concept was the aristocrats are wealthier and wiser than the commoners).
Together they are known as the National Diet of Japan.
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