Prime Minister Sanae Takaichi’s Liberal Democratic Party secured a postwar record 316 seats in the February 2026 general election after dissolving the House of Representatives in January, giving the LDP-JIP coalition a two-thirds supermajority. This outcome, combined with the short interval since the last vote and the absence of a no-confidence trigger, has produced strong trader consensus against another dissolution before year-end. Recent Diet proceedings have focused on consumption-tax measures, cabinet reshuffles scheduled for September, and issue-by-issue cooperation in the Upper House rather than early elections. While approval ratings have moderated to the mid-50s amid cost-of-living pressures, no major legislative impasse or coalition fracture has emerged. Only an abrupt loss of LDP internal support, a severe scandal, or an unforeseen constitutional crisis could realistically reopen the possibility of dissolution within the remaining months of 2026.