TOKYO: Japanese Prime Minister Fumio Kishida, who has vowed to substantially increase his nation's defence spending, said on Tuesday there are no numerical targets for the outlay.
The issue is expected to be a focus of public attention leading up to the election for Japan's less powerful upper house of parliament on Jul 10. Campaigning starts on Wednesday. "We never had talks with numerical targets in our minds ... What I've been proposing is to build the necessary defence capability in five years, while keeping a close eye on what's happening in other countries," Kishida said.
The yen's slide in recent weeks to 20-year lows against the dollar, boosting the cost of imported goods, will put upward pressure on procurement costs.
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