Japan's main opposition Liberal Democratic Party's (LDP) leader and former Prime Minister Shinzo Abe smiles at the headquarters of LDP in Tokyo, Japan, Dec. 16, 2012. Japan's LDP won a majority in the general election held on Sunday, according to the exit polls conducted by Japanese broadcaster NHK. [Xinhua]

Japan's Liberal Democratic Party ( LDP) won by a landslide in Sunday's House of Representatives election as it solo secured 294 seats in the election.

The LDP's key ally, the New Komeito Party, got 31 seats, helping the two-party coalition gain 325 seats in the lower house.

The president of the LDP, ex-Prime Minister Shinzo Abe who is expected to reclaim the premiership soon, said his party's victory is due to failure of the Democratic Party of Japan (DPJ), which is ruling the country over the past three years.

"People thought they should put an end to the government of the DPJ. Therefore, people have to say no to the DPJ government," Abe said in a press conference.

He said Japanese people are watching closely to see if the LDP can really respond to their expectations. "So we should try to live up to the expectations," Abe added.

Candidates of the LDP celebrated on Sunday for their return to power with "banzai" shouting in many campaign offices across the country.

As for the top priority of the LDP, Abe said his party will combat the country's long-lasting deflation. "It is our campaign pledge."

"Economy is in a very dangerous situation and it comes a declining year on year. We need to change the situation," Abe said, adding his party will bring economic recovery back to Japan.

Abe also said he needs a new central banker who would agree with the LDP's introducing of inflation target after current central banker Masaaki Shirakawa stepped down in April so as to curb the country's chronic deflation.

In order to revise the country's pacifist constitution, Abe said it needs two thirds support both in the lower house and the upper house. Therefore, the LDP will seek cooperation with the Japan Restoration Party in the direction.

Although the DPJ lost the election, it still remains the largest party in the upper house. Abe said his party will also work to gain understanding of other parties in the upper house.

Meanwhile, the LDP and its ally agreed to form a coalition government as they have won the majority of seats in the election. The two parties said they will hold consultations after the election so as to coordinate their policies prior to the launch of the coalition.

Abe ruled out the possibility of cooperating with the DPJ in the new government, saying if the LDP cooperates with DPJ, it will be a betrayal of the people. However, he said the two parties may cooperate in certain fields such as taxation and social security reform.

On foreign policies, Abe said his party does not intend to heighten tension with China and it will seek to improve the bilateral relations with China as soon as possible.

He also said he will visit the United States after becoming the country's new prime minster in a bid to enhance the bilateral alliance.

Compared with the landslide win of the LDP, the DPJ led by Prime Ministers Yoshihiko Noda secured just 57 seats, suffering a big defeat in the election.

As a result, Noda quit the presidency of his party.

"The greatest responsibility of the great defeat falls on me as the leader of the party. I accepted the consequences thoroughly and I resign from the post as president of the Democratic Party of Japan," Noda said sadly with tears in his eyes.

Noda said it is regrettable that although he and his colleagues have worked hard during the three years in the government, they lost a lot of important comrades and colleagues.

Noda said his party will hold an assembly as soon as possible to choose a new leader, adding that the DPJ will once again get support from the public.