Japan's ruling coalition has lost its majority in the upper house of parliament, but Prime Minister Shigeru Ishiba has said he has no plans to resign.

Voters went to vote on Sunday in a close election that was disappointing for the ruling Liberal Democratic Party and its partner Komeito, because of rising prices and the risk of US tariffs affecting the party.

After the vote, the Prime Minister said he had accepted the difficult outcome wholeheartedly, but his focus now was on trade negotiations.

After losing its majority in the country's powerful lower house last year, his coalition has now lost its majority in the upper house, a move that is expected to weaken the coalition government. 

The ruling coalition needed 50 seats to retain control of the 248-member upper house.

They won 47 seats, according to a report by state broadcaster NHK. Results for one more seat are yet to be announced.

Voting for about half of the seats in the upper house, whose members are elected for six-year terms, took place on Sunday.

The election results are being seen as a reflection of voter frustration, with rising living costs and trade talks with the United States playing a role.

Many people are extremely unhappy with inflation, especially the price of rice. This is coupled with the various scandals surrounding the LDP in recent years.

The last three LDP prime ministers had to resign within two months after losing their majority in the upper house, and analysts believe the same thing could happen this time too