A boy looks on as his mother casts her ballot for a general election at a polling station in Tokyo on Sunday. Prime Minister Sanae Takaichi is seen in (inset) — Reuters TOKYO, Feb 08 (Reuters): Japanese Prime Minister Sanae Takaichi's ruling coalition is set for a landslide victory in Sunday's lower house election, exit polls showed, a move that may rattle financial markets and accelerate a defence build-up aimed at countering China.
Takaichi's Liberal Democratic Party and coalition partner, the Japan Innovation Party, known as Ishin, could secure as many as 366 of the 465 seats in the chamber, a supermajority that would ease her legislative agenda, according to public broadcaster NHK.
The LDP alone is projected to win as many as 328 seats, which would be its best result since 1996, when the current electoral system was adopted.
Japan's first female prime minister, 64, called the rare winter snap election to capitalise on her buoyant personal approval ratings since she was elevated to lead the ruling LDP late last year.
Voters have been drawn to her straight-talking, hardworking image, but her nationalistic leanings and emphasis on security have strained ties with powerful neighbour China, while her promises of tax cuts have rattled financial markets.
Residents trudged through snow to cast their ballots with record snowfall in parts of the country snarling traffic and requiring some polling stations to close early.
It is only the third postwar election held in February, with elections typically called during milder months.
Outside a polling station in the town of Uonuma in the mountainous Niigata prefecture, teacher Kazushige Cho, 54, braved below-freezing temperatures and deep snow to cast his vote for Takaichi's Liberal Democratic Party.
"It feels like she's creating a sense of direction - like the whole country pulling together and moving forward. That really resonates with me," he said.
But Takaichi's election promise to suspend the 8% sales tax on food to help households cope with rising prices has spooked investors concerned about how the nation with the heaviest debt burden among advanced economies will fund the plan.
"Her plans for the cut in the consumption tax leave open big question marks about funding and how she's going to go about making the arithmetic add up," said Chris Scicluna, head of research at Daiwa Capital Markets Europe in London.
Niigata resident Mineko Mori, 74, padding through the snow with her dog, said she worried that Takaichi's tax cuts could saddle future generations with an even bigger burden.
But younger voters are among the most supportive of Takaichi, with one recent poll finding more than 90% of those under 30 favoured her.
The prime minister has sparked an unlikely youth-led craze called "sanakatsu", roughly translated as "Sanae-mania", with the products she uses, such as her handbag and the pink pen she scribbles notes with in parliament, in high demand.
On Thursday, Takaichi received the "total endorsement" of U.S. President Donald Trump.
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