The Japanese government is considering a significant increase in defense spending over the next five years, with plans to raise the total defense budget for fiscal 2027 through 2031 to 60 trillion yen (about 376 billion U.S. dollars) when it revises the three key security documents, Japanese media reported Friday, citing sources. According to the report, spending focus will include large-scale procurement of drones, ammunition and missiles.
Japan's current three security documents, formulated at the end of 2022, call for increasing the country's total defense spending over the five years from fiscal 2023 to 2027 to about 43 trillion yen. The government of Prime Minister Sanae Takaichi plans to revise the three documents by the end of this year.
Japan's defense budget has hit record highs for consecutive years, raising concerns across the country. Japanese citizens have held repeated rallies this year to protest the government's military buildup and oppose continued increases in defense spending as well as the resulting heavier burden on the public.
Japan plans to raise defense spending to 60 tln yen over next 5 years
The registration center for the 2026 APEC CEO Summit in Shenzhen, south China's Guangdong Province, has entered its peak period as representatives from APEC economies arrive ahead of the Nov 17-18 event.
Organizers have streamlined the process, allowing attendees to complete document verification and collect their credentials and event materials in about five minutes.
More than 2,000 participants are expected, including representatives from businesses, trade associations, government departments and media outlets. All 21 APEC economies will be represented, alongside companies from 13 non-APEC economies including the UK, France, Germany and Switzerland.
Representatives from 115 Fortune Global 500 companies will attend, according to China Council for the Promotion of International Trade (CCPIT). U.S. companies make up the largest group among participating companies from economies other than China.
The summit is a high-level gathering for APEC economy leaders and business representatives to discuss open cooperation and regional economic development.
Under the theme "To Prosper and Win the Future Together," this year's edition will focus on cooperation in emerging fields such as the digital economy, AI, and green and low-carbon development.
APEC CEO Summit registration enters peak period
