Japan's FY 2026 defense budget at record 9 trillion yen

Japan's draft defense budget was set at a record 9.04 trillion yen ($58 billion) for fiscal 2026, the government said Friday, as the country faces increasing security challenges from China and North Korea.The figure, including outlays linked to hosting U.S. military bases, eclipses the then record 8.7 trillion yen in the initial budget for the current fiscal year to March 2026.Fiscal 2026 marks the fourth year of Japan's five-year 43-trillion-yen defense buildup plan.The Cabinet of Prime Minister Sanae Takaichi approved the same day a draft initial state budget for the year starting next Ap…READ FULL ARTICLE