Japan plans to significantly increase defense spending, with budget rumored to reach up to 80 trillion yen in the next five years

According to two sources, the Japanese government is considering a significant increase in defense spending over the next five years. The picture shows Japanese Prime Minister Takaichi Sanae. (AFP)

[Compiled by Xie Yizhe/Comprehensive Report] Foreign media "Reuters" reported that two sources revealed that the Japanese government is considering a significant increase in defense spending in the next five years, and is expected to increase the defense budget to nearly 1.8 times the current scale. This is part of Japanese Prime Minister Sanae Takaichi's plan to strengthen the country's military capabilities.

According to Reuters, if the plan is passed, the five-year defense construction expenditure starting from April 2027 is expected to reach 70 trillion yen (approximately NT$14.4 trillion) to 80 trillion yen (approximately NT$16.5 trillion), which is approximately 1.8 times the 43 trillion yen (approximately NT$8.8 trillion) planned in the current five-year plan. The current five-year defense plan will be implemented from fiscal year 2023.

The first source said the new spending is expected to be used to purchase a large number of drones and other equipment. The source added that the depreciation of the yen has pushed up the cost of defense equipment procurement.

A second source pointed out that the final budget may fall in the higher range of more than 70 trillion yen, but the source also questioned whether a budget of this size is sufficient considering the security situation in East Asia. The source added that the final figure still requires further consultation between the Japanese government and its ruling coalition partners.

Since the Japanese government will prepare a budget and revise three security-related documents before the end of the year, the final amount of the budget may still change. In addition, in response to sources claiming that Japan is considering a substantial increase in defense spending, the Japanese Ministry of Defense said it would not comment.