Japan eyes around 43 tril. yen defense spending for next 5 years

Japanese Prime Minister Fumio Kishida aims to boost the country's defense budget to about 43 trillion yen ($318 billion) from fiscal 2023 to fiscal 2027, an over 50 percent increase from its current five-year spending plan, ministers said Monday.The figure is up from around 27.47 trillion yen that Japan had originally planned for five years through the fiscal year from April 2023, in view of the deteriorating regional security environment amid mounting security threats from China and North Korea.At the prime minister's office on Monday, Kishida held talks about the defense budget with Finan…READ FULL ARTICLE