Agricultural minister Shinjiro Koizumi has decided to run in the ruling Liberal Democratic Party's upcoming leadership race, sources said Friday.

Koizumi plans to inform his supporters in his electoral district about the decision on the weekend and hold a news conference next week to formally announce his bid to succeed outgoing LDP President Shigeru Ishiba, who is also the prime minister, people familiar with the matter said.

The 44-year-old would be the youngest of the five LDP members to vie for the party presidency, a list that also includes former economic security ministers Sanae Takaichi, 64, and Takayuki Kobayashi, 50, as well as former LDP Secretary-General Toshimitsu Motegi, 69, and incumbent Chief Cabinet Secretary Yoshimasa Hayashi, 64.