The long-awaited presidential election of the Liberal Democratic Party will be held no later than April 27, the party's No. 2 man said Wednesday after speaking with Prime Minister Yoshiro Mori.

A specific date was not set, but the election is expected to be held around April 23, with the new Cabinet expected to be formed as early as April 26.

LDP Secretary General Makoto Koga said Mori, who concurrently serves as LDP president, agreed to increase the voting power of the LDP's local chapters. This will be done by giving each chapter three votes instead of one.