Liberal Party (自由党Jiyuto) is the name of five different political parties in different time periods in Japan.
They are:
Liberal Party of Japan (1881), founded by Itagaki Taisuke in October 1881. The party stood for popular rights and espoused the philosophy of Jean-Jacques Rousseau. The main objective of the party in the beginning was the establishment of a constitution. The party was an offspring of the aikokusha.
Liberal Party, founded by Hatoyama Ichiro in 1945. In 1946, Yoshida Shigeru formed the first Liberal cabinet after Hatoyama purged. From 1948 to 1950, the Liberal Party merged with a part of the Japan Democratic Party to form the Democratic Liberal Party. Then, in 1955, it merged with the Democratic Party again to form the Liberal Democratic Party.
The Liberal Democratic Party (LDP), also known as Jiyū Minshutō (自由民主党, or the abbreviation Jimin-tō 自民党) is a center-right conservative party and the largest political party in Japan, as of 2005.
It is not to be confused with the now-defunct LiberalParty (1998), which in November 2003 merged with the main opposition party, the Democratic Party of Japan.
For the majority of the 1960s, the LDP (and Japan) were led by Eisaku Sato, beginning with the hosting of the Olympics in Tokyo in 1964, and ending in 1972 with Japanese neutrality in the Vietnam War and with the beginning of the Miracle Economy.