Ishiba, leader of the Liberal Democratic Party (LDP), has come under intense pressure since the ruling coalition’s defeat in upper house elections on Sunday.
It is the first time since 1955 that the ruling coalition does not have a majority in the upper and lower houses but LDP heavyweights have so far held off on calling publicly for his resignation.
The Mainichi Shimbun newspaper reported on Wednesday that Ishiba told close advisers that he planned to step down by late August. But later in the day Ishiba denied the report and told reporters that he had not discussed whether he would stay on or step down during the meeting.
If Ishiba does step down, it will trigger a leadership contest with behind-the-scenes manoeuvring among potential candidates anticipated. The new LDP leader could be elected around September.