Japan defense budget hits new high in FY 2018 amid N. Korea threats

The government on Friday approved a record draft defense budget for fiscal 2018 totaling 5.19 trillion yen ($46 billion) as it seeks to introduce a new missile defense system and new cruise missiles amid the growing North Korean threat.The size of the draft budget is up 1.3 percent on year, including outlays linked to hosting U.S. military bases, and hits a record high for the fourth consecutive year under Prime Minister Shinzo Abe's government, which has beefed up Japan's defense capacities amid concerns over North Korea as well as China's maritime assertiveness.Around 730 million yen was …READ FULL ARTICLE