Embattled Japanese Prime Minister Shigeru Ishiba will resign to avoid a split within his ruling party, Japanese media reported on Sunday, pitching the world's fourth-largest economy into fresh political uncertainty.

A spokesperson for the Prime Minister's Office did not immediately have a comment when contacted by Reuters, but the government said Ishiba would hold a press conference at 6 p.m. (0900 GMT).

Since he came to power in September last year, Ishiba's coalition has lost its majorities in elections for both houses of parliament amid voter anger over rising living costs.

He had refused calls from within his Liberal Democratic Party to step down and take responsibility for the upper house loss in July.

Concern over political uncertainty led to a sell-off in the yen and Japanese go

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