Osaka Mayor Toru Hashimoto and Osaka Gov. Ichiro Matsui once again ventured into national politics Thursday, announcing their new national party and saying it would be Osaka-focused.

"In order to revive the Japanese economy as a whole it's important that Osaka become the country's second engine of growth and prosperity, and that's the reason for the new party," Hashimoto said Thursday evening.

The new party will be called Osaka Ishin no Kai, with Osaka spelled in hiragana. The core leadership will include Hashimoto, Matsui and about a dozen Osaka-area Diet members who broke away from Ishin no To (Japan Innovation Party).