The Cabinet of Japanese Prime Minister Fumio Kishida said it is closely watching the outcome of South Korea's presidential election on Wednesday, calling the country an important neighbor.

The response came from Chief Cabinet Secretary Hirokazu Matsuno, when asked about Tokyo's position regarding the incoming administration in Seoul amid frayed bilateral ties.

Matsuno said Tokyo plans to continue requesting that Seoul respond appropriately to efforts seeking to restore two-way relations that soured amid colonial-era disputes, although no decision has been made regarding a leaders' summit.

While Seoul has said it will seek a resolution through bilateral efforts, Tokyo argues that reparation issues were settled in the two sides' 1965 treaty normalizing ties, as well as the 2015 settlement regarding wartime sexual slavery.

Japanese media outlets forecast the election outcome to determine the future of not only Seoul-Tokyo ties, but also inter-Korean relations.