MOSCOW, August 30 (RIA Novosti) - With voting over in Japan's general election, exit polls suggest that the opposition has secured an overwhelming victory over the conservative party, which has held power for most of the past 50 years.

National TV channels have projected a majority of 300 seats in the 480-seat lower house of parliament for the center-left Democratic Party of Japan led by Yukio Hatoyama, the grandson of former premier Ichiro Hatoyama.

Japan has been hard-hit by the global economic slowdown, with unemployment at a record high, sparking dissatisfaction with Prime Minister Taro Aso's Liberal Democratic Party.

Hatoyama has pledged a range of ambitious healthcare and education spending schemes, but analysts have warned the plans could further escalate the national debt.

Polling stations closed at 20:00 Tokyo time (11:00 GMT) on Sunday.