立憲民政党
After Prime Minister Hamaguchi was forced out of office by the severe injuries incurred in an assassination attempt, Wakatsuki assumed the leadership of the "Rikken Minseitō", the successor to the "Kenseikai". He was elevated to the rank of baron ("danshaku") in the "kazoku" peerage system in April 1931. Wakatsuki once again became Prime Minister from 14 April 1931 to 13 December 1931. During Wakatsuki's second term, he failed to control the Imperial Japanese Army. He was unable either to prevent the Manchurian Incident from occurring, or to rein in the Army from further escalation of hostilities in China afterwards.