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TOKYO -- Japan's five-year, 43 trillion yen defense buildup risks being undermined by a weak yen that has cut roughly 30% off the dollar value of this spending in the past 18 months.
When the government made the plan in December 2022 to spend the 43 trillion yen through fiscal 2027, that amount translated to nearly $400 billion. Back then, the assumed exchange rate was 108 yen per dollar.
