Democratic Party President Kohei Otsuka offered up multiple options to drastically rejigger his party's organization — including the possible launch of a new party or a name change — during a meeting Tuesday, a party source said.

The options were discussed by a small number of party executives Monday and Tuesday. Otsuka told reporters that he will formally explain the proposals at a meeting of the Standing Officer Council on Wednesday, without offering further details.

Media reports have said that among the options is the "disbandment" of the party and immediate launch of a new party. But the party source, who spoke on condition of anonymity, said the draft options shown to party executives Tuesday did not include the word "disbandment." The source, however, did not deny that the options include the launch of a new party by DP members.