In a desperate bid to keep its members united and stave off the party's collapse, Ishin no To (Japan Innovation Party) on Tuesday rushed to elect Secretary-General Yorihisa Matsuno as its new president in an emergency meeting of its Diet members.

The move came a day after Ishin no To President Kenji Eda expressed his intention to resign following the shock defeat in Sunday's referendum in Osaka on the party's proposal to merge the Osaka municipal and prefectural governments — which voters narrowly rejected.

The merger cause was almost Ishin no To's entire reason to exist. Osaka Mayor Toru Hashimoto, Ishin co-founder and supreme adviser, has expressed his intention to retire as politician.