Japan to boost military spending by five percent

Japan plans to boost military spending by five percent over the next five years, a move aimed at improving its defense system and maritime surveillance.

The announcement was made on Tuesday after the cabinet of Japanese Prime Minister Shinzo Abe adopted a new national security strategy and revised defense plans.

The agreement comes as Japan and China are at odds over a group of islands in the East China Sea.

The islands, known as the Diaoyus in Chinese and the Senkakus in Japanese, are believed to be sitting atop large deposits of natural gas. In 2012, Japan nationalized the islands despite China’s objections.

Tensions further escalated between the two countries after China declared last month an Air Defense Identification Zone (ADIZ) over the East China Sea – including the contested archipelago.

The prime minister and his cabinet agreed that 24.7 trillion yen ($240 billion) would be spent on drones, submarines, fighter jets, and amphibious vehicles between 2014 and 2019. They also agreed on a strategic shift to the south and west.

Japan’s current military spending is 23.5 trillion yen.

The new equipment includes three drones, 52 amphibious vehicles, 17 Osprey hybrid choppers, five submarines, two destroyers equipped with the Aegis anti-missile system, 28 F-35 fighter jets, and a new stealth plane.