Veteran Japanese lawmaker Nikai Toshihiro says he will disband his faction in the main governing Liberal Democratic Party in the wake of a political fund scandal.

Nikai announced his decision after an emergency meeting with his faction members on Friday.

Some LDP factions, including Nikai's, were investigated for underreporting revenues from fundraising parties.

The LDP heavyweight said his faction corrected its political fund reports on Thursday, and people involved in the case now face criminal charges.

He also said he feels a deep responsibility as the leader of the faction, and apologized to the public and people who have supported him.

Nikai said the faction has achieved certain results by proposing and implementing policies to make Japan more resilient to disasters, promoting tourism, reviving regional communities and pursuing Pacifist diplomacy.

He added that he decided to disband the faction to help regain public trust in politics, and got the approval of the members.