Democratic Party of Japan President Ichiro Ozawa declared Thursday that he would resign if the opposition camp fails to win a majority in the Upper House election July 29.

Ozawa told reporters Thursday morning that the ideal scenario would be for the DPJ to win a majority on its own, but the bottom line is that all the opposition parties band together.

"This is the greatest opportunity and the last chance" for the DPJ to seize control, Ozawa said. "And if I cannot achieve (an opposition Upper House majority), it will be pointless for me to remain the leader."