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AP National Business

Japan Cabinet OKs record defense budget amid Taiwan concerns

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Published 4:06 AM

By MARI YAMAGUCHI
Associated Press

TOKYO (AP) — Japan’s Cabinet has approved a record 5.4 trillion yen ($47 billion) defense budget for fiscal 2022 that includes funding for research and development of a new fighter jet and other “game-changing” weapons as Japan bolsters its defense capabilities in response to China’s growing military might and its tensions with Taiwan. The 1.1% budget increase for the year beginning in April is the 10th consecutive spending increase and is in line with Japan’s pledge to the United States to strengthen its own defense capabilities to tackle security issues in the region. Separately, a news report says the Japanese and U.S. militaries have compiled a draft preparedness plan for a possible Taiwan emergency such as fighting between Chinese and Taiwanese forces.

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