Japan’s defense spending will jump 20% to a record 6.8 trillion yen ($55 billion) next year as the country prepares to deploy US-made Tomahawks and other long-range cruise missiles that can hit targets in China or North Korea under a more offensive security strategy, Report informs via the Associated Press.
The planned purchase of Tomahawks at 211.3 billion yen ($1.6 billion) is a centerpiece of Japan’s 2023 budget plan approved Friday by Prime Minister Fumio Kishida’s Cabinet and shows his government’s determination to rapidly arm itself with more strike capability under the new strategy.
Additionally, Japan will pay the United States 110 billion yen ($830 million) for equipment and software needed to launch Tomahawks, as well as fees for the technology transfer and staff training in the coming year, defense officials said.
The hefty budget plan, pending parliamentary approval, is the first installment of a five-year, 43-trillion-yen ($325-billion) military spending plan under the new defense buildup plan also announced last week. The new spending target follows the NATO standard and will eventually push Japan’s annual budget to about 10 trillion yen ($73 billion), the world’s third biggest after the United States and China.