Japan to Request Record ¥8.8 Trillion Defense Budget Amid U.S. Pentagon Discontent, Fighter Jet Plans, Mitsubishi Stock Drop

Japan's Defense Ministry plans to request a record budget of 8.8 trillion yen for the upcoming fiscal year, aiming to boost its defense spending amid growing regional security concerns. This move comes as Japan seeks to increase its defense capabilities, including investments in next-generation fighter jets. However, the U.S. Department of Defense has expressed strong dissatisfaction with Japan's current defense spending levels, noting that Japan lags behind other allies such as European countries and South Korea in terms of defense expenditure. The heightened focus on defense budgets is part of a broader trend in Europe and Asia, where defense industries are expected to maintain export momentum amid ongoing geopolitical tensions. Following reports of U.S. discontent, shares of Mitsubishi Heavy Industries, a key player in Japan's defense sector, experienced a decline.