Japan to Boost Military Spending in 2017 Fiscal Year to Record $46Bln

Japan’s government plans to boost military spending in the next fiscal year, starting in April, to a record 5.1 trillion yen (roughly $46.4 billion).

TOKYO (Sputnik) — Spending on air defense capabilities will be one of priorities in the aftermath of North Korea’s frequent ballistic missile launches, Japan’s Mainichi daily newspaper said Friday.

The money will be spent specifically on providing Japan’s self-defense forces with missiles capable of taking on ballistic missiles, as well as with spy submarines.

The government’s budget plan will also ramp up the security of the Senkaku islands in the South China Sea. They are referred to as the Diaoyudao Islands in China, which claims them for itself.

Japan has been ratcheting up its defense spending for five consecutive years amid rising security threat from North Korea and China’s assertive policy in the region. Tokyo spent 5.05 trillion yen in the ongoing fiscal year.