Japan's largest opposition party leader Ichiro Ozawa said Wednesday that he will stay as president of the Democratic Party of Japan (DPJ), withdrawing his resignation on Sunday.

The veteran politician said in a meeting with his party's lawmakers that he would "gamble his political life on the next lower house election" and fight to gain a victory.

Ozawa offered to quit the top post to "take responsibility for causing confusion within the party" on November 4. He has been under criticism for not immediately rejecting a proposal from Prime Minister Yasuo Fukuda to form a ruling coalition with the governing Liberal Democratic Party last week.

The party's executives have been urging the 65-year-old politician who led the party to a landmark victory in July's parliament election to stay as the party's head.

(Xinhua News Agency November 7, 2007)