Japan defense spending plan takes 30% hit from weak yen

The devaluation of the yen led to an increase in the cost of foreign weapons, which reduced Japan's real military budget by 30%, Report informs referring to Nikkei Asia.

Over the past 18 months of devaluation of the national currency, the cost of the US-made F-35A fighter has increased from 11.6 billion to 14 billion yen, ships equipped with the Aegis air defense system have risen in price from 240 billion to 392 billion yen, and weapons produced in Japan have increased by price due to the presence of a high proportion of foreign components in them.

As a result of the yen devaluation, the government's five-year military spending plan of 43 trillion yen (about $400 billion) approved in December 2022 was reduced in real terms by 30% to about $272 billion.