Japan's PM may dissolve parliament by Friday

TOKYO (AP) - Prime Minister Yoshihiko Noda said on Wednesday that he is ready to dissolve the parliament by Friday, bringing an election within weeks, if Japan's main opposition party agrees to key electoral reforms.

Mr Noda made the pledge during a heated parliamentary exchange with Liberal Democratic Party (LDP) chief Shinzo Abe. The LDP has been pushing Mr Noda to make good on a promise to call elections soon, but he has said lawmakers must first carry out reforms needed to make the vote constitutional.

The reforms he is requiring would include shrinking the size of the lower house of parliament. He said the legislature would also have to approve an urgently needed deficit financing bill.

"We have to achieve that (parliamentary shrinkage) as soon as possible. We must make a decision and set a deadline. I can dissolve parliament on Nov. 16. Let's do it," Mr Noda said.