The Liberal Party of Japan was a conservative political party in Japan which was founded in 1945. The party underwent several iterations due to its idealistic name; however, many early "Liberal" parties practiced conservative policies.
The party was founded by former Seiyukai Party members, with Ichiro Hatoyama and Shigeru Yoshida leading the party. In 1946-1947 and 1948-1954, Yoshida served as Prime Minister. The Liberals were a center-right party advocating for a market-oriented economy, limited government intervention, and a strong defense, and they had their roots in the conservative elements of the prewar establishment. Academics, critics, and businesspeople were among the party's main supporters. This party merged into the Democratic Liberal Party in 1948, but the Democratic Liberals merged with the Japan Democratic Party in 1950 to reconstitute the "Liberal Party."
The 1950-1955 Liberal Party was split between the Hatoyama Liberal Party and the Yoshida Liberal Party, as Yoshida and Hatoyama argued after Hatoyama was unable to return to being leader of the revived Liberal Party. The Liberals were pro-American, and Yoshida was less conservative than his national conservative Japan Progressive Party counterparts. The party was backed by business interests, conservative voters, and moderate voters. In 1955, the party merged with the Japan Democratic Party to form the Liberal Democratic Party of Japan.
In 1998, the last incarnation of the party was formed, formed from remnants of the New Frontier Party. The party joined the opposition led by the Democratic Party of Japan and also including Komeito, the Social Democratic Party of Japan, the Japanese Communist Party. In 1999, the party formed a coalition with the LDP, and the party returned to the opposition after Komeito joined the government. In 2003, the party merged with the DPJ, but it was re-founded as the People's Life Party in 2012.
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