Democratic Party of Japan heavyweight Ichiro Ozawa suggested Thursday he might run for the party presidency when the vote is taken Saturday, after the resignation of Katsuya Okada over the DPJ's huge setback in Sunday's general election.

Seiji Maehara, a younger lawmaker who is the DPJ's "shadow Cabinet" defense minister, declared Thursday he will run as a candidate, while former DPJ leader Naoto Kan has said he may also enter the race.

The DPJ decided Thursday afternoon at a joint meeting of its Diet members from both chambers that the party's Diet members would elect a new leader. The vote will be held in Tokyo on Saturday, when Okada will formally resign from his post.