The yen’s collapse this year to a nearly four-decade low is undermining Japan’s plans for its largest military buildup in postwar history. The government has slashed orders for aircraft, and officials warn that further cuts may be imminent. The government’s purchasing power has been drastically eroded by the yen’s diminishing value. “What we are achieving in terms of actual defense capabilities and our original target — the two are not lined up,” Satoshi Morimoto, a former Japanese defense minister, said in an interview. The value of the defense budget over five years “has effectively been reduced by 30 percent,” Mr. Morimoto said.

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Persons: ” Satoshi Morimoto, “, Mr, Morimoto Organizations: Japan Locations: Tokyo, North Korea, China, Taiwan