TOKYO: A record 7,949.6 billion yen of defense spending has been earmarked in the Japanese government’s fiscal 2024 draft budget, up 16.5 percent from the initial budget for fiscal 2023.
The defense budget is set to hit an all-time high for the 10th consecutive year. The draft government budget for the year from April 2024 was adopted Friday.
Fiscal 2024 will mark the second year of Prime Minister KISHIDA Fumio’s initiative to thoroughly beef up the country’s defense capabilities.
Of the total, 1,247.7 billion yen will be allotted to missile defense equipment and 734 billion yen for long-range missiles, including those for the country’s counterstrike capabilities, to deal with military buildups by China and North Korea.
For missile defense, 373.1 billion yen will be used to build two Aegis destroyers, which are expected to be introduced in fiscal 2027 and fiscal 2028, respectively.
About 75.7 billion yen will be spent for Glide Phase Interceptor missiles for shooting down hypersonic weapons, which travel at speeds of Mach 5 or more. Japan is developing GPIs with the United States.
Of the funding for long-range missiles, 175.3 billion yen will be used for the development and acquisition of an updated version of the Type 12 surface-to-ship missile. The government has decided to move up the deployment of the revamped Type 12 missiles, with a firing range of more than 1,000 kilometers, to fiscal 2025 from fiscal 2026.
A total of 200 million yen will be used to refurbish two existing Aegis destroyers to equip them with US-made Tomahawk cruise missiles. Tokyo plans to move up the procurement of the Tomahawk missiles also by one year to fiscal 2025.
The government plans to establish a joint command centrally controlling the Air, Ground and Maritime Self-Defense Forces. With a staff of some 240, the joint command, to be set up at the Defense Ministry, will be headed by a commander, a position on par with the chiefs of staff at the Air, Ground and Maritime SDFs.
Tokyo will contribute 4.2 billion yen to an organization in charge of developing a next-generation fighter jet under a three-way joint project with Britain and Italy.
Also, the government will seek to curb costs, including by a revision of defense equipment manufacturing processes, in response to the yen’s depreciation and higher prices. As a result, the planned overall defense spending for fiscal 2024 is down by 276.4 billion yen from an earlier envisioned level, according to government officials.
JIJI Press