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Reuters
Reuters
Business
By Tim Kelly

Japan to hike annual defence budget by a quarter to buy Tomahawks and other weapons

Japan World War Two China Missile
FILE PHOTO: The Uzushio-class submarine of the Japan Maritime Self-Defense Force (JMSDF) sails during the International Fleet Review to commemorate the 70th anniversary of the foundation of JMSDF, at Sagami Bay, off Yokosuka, south of Tokyo, Japan November 6, 2022. REUTERS/Issei Kato/Pool/File Photo

Japan on Friday said it will hike defence spending by more than a quarter next year including $1.6 billion to buy U.S.-made Tomahawk cruise missiles that will be part of its biggest military build-up since World War Two.

The 26.3% increase to a record 6.82 trillion yen ($51.7 billion) for the year starting April 1 will allow Japan to more than triple spending on munitions it wants to deter regional rivals China and North Korea as Russia's attack on Ukraine spurs regional tensions.

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