Japan's main opposition, the Democratic Party of Japan, has crushed the ruling conservative Liberal Democratic Party with an historic landslide victory. Results show the DPJ got more than 300 of the 480 seats in Japan's lower house of parliament. The LDP now holds about 100 seats, a third of its strength before the vote.

The victory by the Democratic Party of Japan ends a half-century of almost unbroken rule by the Liberal Democratic Party.

DPJ leader Yukio Hatoyama will become Japan's next prime minister.

Yukio Hatoyama, DPJ Leader, said, "We felt very strongly that we had to change the politics and knew this election was about a shift in power. We would like to thank everyone that has supported us to make this victory happen."

Incumbent prime minister and LDP leader Taro Aso says he will take responsibility for his party's loss.

Taro Aso, LDP Leader & Japanese Prime Minister, said, "We couldn't wipe away the discontent of the Japanese people. I will resign from the position of LDP leader."

In Tokyo, people cautiously welcome the historic moment.

Many have high hopes.

Still, many others are skeptical.

Yukio Hatoyama is considering the possibility of forming a coalition government.

The DPJ is expected to launch an official transition team after deciding on key posts, including Cabinet secretary, and then to complete appointments for the remaining posts.

(CCTV August 31, 2009)