Japanese Prime Minister Shigeru Ishiba’s conservative ruling party is braced for a blow to its comfortable majority in the lower house of parliament in elections which came amid public rage over financial scandals and discontent over a stagnant economy.

According to exit polls by public broadcaster NHK, Mr Ishiba’s Liberal Democratic Party (LDP) is certain to lose the majority in the 465-seat house, the more powerful of Japan’s two-chamber parliament.

It is still unclear if his ruling coalition with junior partner Komeito can retain a majority.

The results could weaken Mr Ishiba’s grip on power and if he cannot get his party’s policies through parliament, he may need to find a third partner.

Voters at polling booths
Voters cast their ballots at a polling station for Japan’s lower house election in Tokyo (Hiro Komae/AP)

Mr Ishiba told NHK: “The results so far have been extremely severe, and we take them very seriously.

“I believe the voters are telling us to reflect more (on the financial wrongdoing) and become a party that lives up to their expectations.”

He added that if his coalition loses a majority, the LDP will still lead a ruling coalition and tackle key policies and compile a planned supplementary budget while pursuing political reform further. He indicated the LDP is open to co-operating with opposition groups if that suits the public’s expectations.

Mr Ishiba took office on October 1, replacing his predecessor Fumio Kishida who resigned after failing to pacify the public over widespread slush fund practices among Liberal Democratic Party politicians.

Mr Ishiba immediately ordered a snap election in a bid to shore up support by using his outspoken, reformist image.

Voting took place across Japan on Sunday, with 1,344 candidates, including a record 314 women, running for office.

Mr Ishiba had set a goal of retaining 233 seats for the ruling coalition between the LDP and Buddhist-backed Komeito.

NHK exit polls indicate LDP alone is expected to win 153-219 seats, down sharply from 247, while Komeito is expected to win 21 to 35 seats.

As of early on Monday, LDP won 188 seats and Komei 24 for a total of 212 seats for the ruling coalition, while the Constitutional Democratic Party of Japan secured 146 seats, NHK said.

In his final speeches on Saturday in Tokyo, Mr Ishiba apologised over his party’s mishandling of funds and pledged “to restart as an equal, fair, humble and honest party”.

He said only the LDP’s ruling coalition can responsibly run Japan with its experience and dependable policies.

Once a popular politician known for his criticism of even his own party’s policies, Mr Ishiba has also seen support for his weeks-old cabinet plunge.

The biggest opposition party, the Constitutional Democratic Party of Japan, is led by centrist leader Yoshihiko Noda – who briefly served as prime minister during the LDP’s 2009-12 descent from power.

Yoshihiko Noda speaking into a mic, with one hand raised
Yoshihiko Noda is leader of opposition Constitutional Democratic Party (Kyodo News/AP)

Mr Noda’s party is expected to make significant gains. He has said Sunday’s election is a rare chance for a change of government, which will be the most effective political reform, though his party has trouble finding other opposition groups with which to co-operate.

At a Tokyo polling station early on Sunday, a number of voters said they are taking the corruption scandal and economic measures into account.

A 77-year-old man said his biggest concern is rising prices and wondered if the LDP should win despite the wrongdoings. Another resident in her 60s said she would vote in the hope of making a change.

Analysts suggest Mr Ishiba could fall short of reaching his seat target, though his LDP is expected to remain the top party in Japan’s parliament as voters are sceptical about the opposition’s ability and inexperience.

Losing a majority would mean Mr Ishiba would have difficulty establishing policies and could face calls from within his party for a replacement ahead of next summer’s election in the upper house, experts say.