Will Japan’s new arms export rules spark a high-end defence boom?

On April 21, Japanese Prime Minister Sanae Takaichi announced that her cabinet had amended the Three Principles on Transfer of Defence Equipment and Technology and the accompanying implementation guidelines that had constituted Japan’s framework for controlling military hardware and technology exports since 2014. “In an increasingly severe security environment, no single country can now protect its own peace and security alone, and partner countries that support each other in terms of defence equipment are necessary,” Takaichi said on social media the same day. Despite its technological prowess, the country has accounted for a trivial share of global arms exports, while…