Exclusive: Weak yen forces Japan to shrink historic military spending plan
A collapse in the yen is forcing Japan to scale back a historic five-year, 43.5-trillion-yen defence build-up aimed at helping to deter a Chinese invasion of Taiwan, according to eight people familiar with the matter. Since the plan was unveiled in December, the yen has lost 10% of its value against the dollar, forcing Tokyo to reduce its ambitious defence procurement plan, which was then-calculated to cost $320 billion, the sources said. Reuters interviewed three government officials with direct knowledge of defence procurement and five industry sources, who said Japan will begin cutting ba...