Reiwa Shinsengumi leader Taro Yamamoto said Thursday that he would?step down as head of the Japanese opposition party and retire from politics, citing health issues and a speeding scandal.

Reiwa Shinsengumi will change its name and hold a leadership election on July 31.

Speaking at a news conference in Tokyo, the 51-year-old said that his speeding scandal was ¡°inexcusable.¡±

¡°I¡¯ve decided to call it quits on my efforts to become a Diet member,¡± he said.

Asked why the party will change its name, Yamamoto said he did not want to stand in the way of the party as ¡°a relic of the past.¡±

Earlier this month, Yamamoto said that he had received a summary order for a ?90,000 fine ($556) and a 90-day suspension of his driver¡¯s license after he was caught driving a rental car at 149 kilometers per hour on an expressway in southwestern Japan in October last year, far exceeding the speed limit of 80 kph.

In January, Yamamoto resigned from the House of Councilors, saying that he was ¡°one step away from multiple myeloma.¡±