Japan Open to Selling Stake in Telecom Company to Fund Defense Spending

The NHK reported that a senior politician from the ruling Liberal Democratic Party stated on Sunday that the government is open to selling its stake in NTT to help finance the country's defense spending. Akira Amari mentioned in an interview on Fuji TV that "selling NTT shares over the decades could ensure a stable funding source." The government privatized the company in 1985 but still holds a one-third stake in it. Amari leads a team within the Liberal Democratic Party tasked with exploring ways to fund the increase in Japan's defense spending without raising taxes. According to NHK, the team is expected to begin considering the sale of the government's stake in the company, which previously held a monopoly on communication services. Japanese Finance Minister Shunichi Suzuki declined to comment on Tuesday regarding the Liberal Democratic Party's plans to sell shares in NTT to raise funds for enhancing Japan's military capabilities.