Kishida asked for the military budget increase during the meeting.
Reports show that the country will increase its military spending volume to $316 trillion in the next five years. Around $63,3 trillion per year is expected in the event of an increase.
Prime Minister Kishida was pushing for issuing government bonds to pay for an increase in defence spending in the coming years. He dismissed the idea as he will seek public support for his plan to rely instead on tax increases.
Regional steps and increasing naval activities of China and ignited tensions with North Korea are considered fundamental reasons for the military restructuring and rearmament steps.&nbsp;On the other hand, Japan is changing its weapon acquisition plans to more capable, longer-range systems.

Giant leap for Japanese defence budget

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.