When Fumimaro Konoe returned to the premiership in mid-1940, he launched a bolder package of policy initiatives, including the declaration of the Greater East Asia Co-Prosperity Sphere and the creation of a one-party state.
In 1939, rightwing ideologue Kiichiro Hiranuma came to power, but he refrained from attempting to institute any major policy changes. However, he soon presided over a series of disasters, each of which clearly indicated that Japan’s military-led foreign policy had miscalculated fundamental realities.
From 1932-1934, Admiral Makoto Saito served as prime minister, ending political party rule but nevertheless trying to steer a relatively moderate path. In foreign policy, however, his administration continued to antagonize the West, including through Japan’s withdrawal from the League of Nations.
From 1926-1927, Reijiro Wakatsuki led Japan’s ruling party, but his tendency to shy away from confrontations helped put him in a weaker position than his predecessor. As the new Emperor Hirohito began his reign, a careless comment by the finance minister triggered a run on banks.
