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Former Chief Cabinet Secretary Yasuo Fukuda (C) speaks to reporters at his office in Tokyo September 14, 2007. [Agencies]

The LDP decided on Thursday to accept candidacies on Saturday and hold the election on September 23 to pick a new president to replace Shinzo Abe, who expressed his intention to resign on Wednesday.

Aso, also former foreign minister, made clear Friday his decision to run in the election, while Fukuda officially announce his candidacy early Saturday morning.

It is currently a general estimate of Japanese media that Fukuda enjoys obvious advantage in the duel with Aso, the LDP's No. 2, since 8 out of all 9 LDP factions have decided to extend support for the former.

The acceptance of application for candidacy concluded 11:30 am, and the two candidates will hold a joint news conference at 2 pm to expound policy respectively.

Topics to dominate the election include extension of the anti-terrorism law and revivification of the LDP after its historical defeat in the House of Councilors election on July 29.