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Politics

Japan defense budget hits record $50bn on new jet

Cost of developing stealth fighter spelled out for first time

The X-2 demonstrator, Japan's attempt at a homegrown stealth fighter plane, takes a test flight. (Photo courtesy of the Ministry of Defense)

TOKYO -- Japan's government seeks to increase defense spending to an all-time high of about 5.3 trillion yen ($48.8 billion) for the year starting April, earmarking funds for the first time to develop a next-generation fighter jet.

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