Ishikawa Seisakusho surged in the afternoon session. Bloomberg reported that the Takaichi administration was considering raising defense spending to 3.5% of GDP, prompting buying in related stocks.
Ishikawa Seisakusho surged in the afternoon session. Bloomberg reported that Japan was considering setting a new medium-term target to raise defense spending to 3.5% of GDP, bringing it into line with NATO and its US allies.
According to several people familiar with the matter, defense officials reportedly indicated in discussions with the US side that they intended to substantially increase defense spending.
Following the reports, defense-related small- and mid-cap stocks in Japan became more active, with Hosoya Pyrotechnics and Howa Industries among those surging. Tokyo Keiki turned positive.
Investors were focusing on opportunities in defense-related stocks, and attention is turning to developments ahead.