Japan's Cabinet approved on Friday a record 8.7-trillion-yen ($55-billion) defense budget for 2025 as the country accelerates building up its strike-back capability and starts deploying Tomahawks to fortify itself against growing threats from China,

Japanese Prime Minister Shigeru Ishiba's cabinet on Friday approved a record $730 billion budget for the next fiscal year, while limiting new bond issuance to the lowest in 17 years on the back of record tax revenue.

Japan's government on Friday approved a record budget for the next fiscal year, ramping up spending on social welfare as the population ages, and defense to tackle regional threats. The $730 billion budget for the year from April 2025,