Japan's Chief Cabinet Secretary Hayashi Yoshimasa has announced that he will run for president of the country's main ruling Liberal Democratic Party.

Hayashi announced his decision at a news conference on Tuesday. It will be his second bid to become the party leader.

Hayashi said that although the current situation is very severe, he is determined to seek the LDP presidency. He offered a deep apology for the party's political funds scandal.

The top government spokesperson said he is mindful of how Prime Minister Kishida Fumio took responsibility as the head of an organization. Hayashi added he will take the prime minister's determination and mind to heart, as he tries to restore public trust in politics.

Hayashi noted he has served in Cabinet posts such as defense, agriculture and foreign minister, as well as worked on the party's tax and administrative reform policies.

He noted that next year will be his 30th as a lawmaker, and appealed for a chance to make use of all his experiences and achievements to serve the country.

Hayashi is the fourth person to enter the race after former Economic Security Minister Kobayashi Takayuki, former LDP Secretary-General Ishiba Shigeru and Digital Transformation Minister Kono Taro.

The new LDP president is expected to become Japan's next prime minister.