Tokyo - Candidates for Japan's ruling Liberal Democratic Party (LDP) presidential race were ready to take their campaign to the streets Wednesday in a bid to succeed outgoing leader and Prime Minister Yasuo Fukuda.

LDP Secretary General Taro Aso, 67, was seen as the front runner among the five candidates. Aso served as Fukuda's right-hand man for about a month since the premier reshuffled his cabinet.

Aso's contenders are Economic and Fiscal Policy Minister Kaoru Yosano, 70, former defence ministers Yuriko Koike, 56, and Shigeru Ishiba, 51, and former LDP policy chief Nobuteru Ishihara, 51.

The candidates were expected to discuss their economic policies as Japan's economy stagnates and food and oil prices continue to rise.

Fukuda announced his surprise resignation on September 1 after a year of premiership.

The winner of the election for LDP party president is likely to assume Japan's premiership, because the party holds a majority in the more powerful lower chamber of Parliament, the House of Representatives.

In the election, the five candidates will vie for a majority of the 528 ballots - 387 ballots from Diet members and 141 from prefectural representatives. If no candidate wins an absolute majority, a runoff election will be held between the top two candidates. (dpa)