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Japan setting up USD6.6nbn fund to boost space industry


Japan is setting up a JPY1tr (USD6.6bn) fund over ten years to boost its space industry, aiming to enhance the nation's capabilities in the increasingly competitive global space race. This initiative, supporting the Japan Aerospace Exploration Agency (JAXA), comes as geopolitical tensions extend to space endeavours. The fund is part of a broader effort, including a Space Basic Plan and Space Security Initiative, to position Japan as a key player in space technology and security. Global space competition is intensifying, with countries like the U.S. and China advancing lunar projects. Japan's commitment reflects this trend, with recent displays of space-focused innovations by companies like Toyota and Mitsubishi Heavy Industries. Despite challenges, such as rocket failures, Japan is keen on advancing space technologies, including sustainable projects like Kyoto University's wooden satellite.

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