The Japanese Cabinet has approved a record 8.7 trillion yen ($55 billion) defense budget plan for 2025 as Japan accelerates building up its strike-back capability with long-range cruise missiles and starts deploying Tomahawks to further fortify the country against growing threat from China,

By Makiko Yamazaki TOKYO (Reuters) -Japanese Prime Minister Shigeru Ishiba's cabinet on Friday approved a record $730 billion budget for the next fiscal year, while limiting new bond issuance to the lowest in 17 years on the back of record tax revenue.

Japan's government on Friday approved a record budget for the next fiscal year, ramping up spending on social welfare, as the population ages, and defence to tackle regional threats.The 8.7 trillion yen approved Friday will help pay for measures to help attract recruits to Japan's Self-Defense Forces,

The Japanese government is expected to approve a record initial budget Friday for the next fiscal year that will ramp up spending on defense and support for regional economies.

Japanese Prime Minister Shigeru Ishiba’s cabinet on Friday approved a record $730 billion budget for the next fiscal year, while limiting new bond issuance

Japan is one of the world's oldest societies, and this year the proportion of its people aged 65 or over reached a record 29.3 percent

The Japanese Cabinet has given its go-ahead to increase the country's defence budget to 8.7 trillion yen ($55 billion) in 2025. Japan currently seeks to shield itself from threats emerging from rivals like North Korea and China.

Japan’s Cabinet has approved the country’s largest-ever defense budget for the coming fiscal year, in keeping with its plan for defense budget increases until 2027 — 8.7 trillion yen, or about $54.8 billion,