Asia
Market Chatter: Japan Draws International Interest in Retired Military Gear After Exports Rule Change
Japan is drawing foreign interest in its retired defense gear after a landmark relaxation of export rules, Nikkei Asia reported Thursday, citing chief cabinet secretary Minoru Kihara, Prime Minister Sanae Takaichi's top spokesperson.On Tuesday, Takaichi's cabinet and the National Security Council approved amendments to the government's "three principles on transfer of defense equipment and technology," permitting lethal weapon exports for the first time since World War II, the news daily said.Kihara, in a Nikkei Asia interview, said that while Japan remains dedicated to its peaceful principles, transferring such equipment will help strengthen regional deterrence and response capabilities.Previously restricted to five non-combat areas-rescue, transport, warning, surveillance, and minesweeping-the revised policy now allows exports of military hardware, including missiles and destroyers, the publication said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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