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Japan's 5-year defense budget to hit record $264bn

Tokyo to beef up mid-term plan through 2027 with eye on China, Indo-Pacific

Tokyo is planning to increase military spending as it strengthens ties with U.S. and keeps an eye on China's expansionary ways.   © AFP/Jiji

TOKYO -- The Japanese government is planning to set aside its biggest five-year defense budget from fiscal year 2023 to top 30 trillion yen ($264 billion) for the first time, Nikkei has learned.

The budget will be part of the government's Midterm Defense Program, which Tokyo is aiming to revise by the end of 2022. This is part of Japan's strategy to lay the groundwork for stronger relations with the U.S. in the face of China's military expansion.

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