TOKYO — The Japanese Cabinet on Friday approved a record 8.7 trillion yen ($55 billion) defense budget for 2025 as Japan accelerates building up its strike-back capability with long-range cruise missiles and starts deploying Tomahawks to fortify itself ...

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 defence to tackle regional threats.

Populations are aging rapidly in much of the rich world, forcing governments to spend increasing amounts on pensions.