Ishihara announces new political party

TOKYO, Oct. 25 (UPI) -- The 80-year-old governor of Tokyo, Shintaro Ishihara, resigned Thursday and said he plans to help found a new Japanese political party.

Ishihara said the new party will compete with the Liberal Democratic Party, which has governed Japan for most of the past 56 years, and the Democratic Party. Sources said Ishihara might try to make common cause with the Japan Restoration Party.

"I'm thinking about returning to the Diet again with my comrades by forming a new party," Ishihara said, adding he plans to run in the next parliamentary election.