TOKYO -- Japan's main opposition Centrist Reform Alliance (CRA) said Wednesday it will choose new leadership this Friday following the recent defeat in the House of Representatives election.

The CRA held a general meeting on the day of its lawmakers following its crushing defeat in Sunday's lower house election, while the party's co-leaders, Yoshihiko Noda and Tetsuo Saito, reiterated their resignations to take responsibility for the loss.

Junya Ogawa, former secretary of the Constitutional Democratic Party of Japan (CDPJ), and Takeshi Shina, the CDPJ's former acting policy chief, expressed their intentions to run in Friday's contest to lead the new party.

The centrist party was formed by the CDPJ and Komeito in January as a new opposition force to challenge the conservative coalition, led by the ruling Liberal Democratic Party leader and Prime Minister Sanae Takaichi.

In Sunday's race, the CRA ended up securing only 49 seats, sharply down from its pre-election strength of 167, becoming now the smallest main opposition party in the postwar era.