Japan's defense ministry on Friday requested a record 5.32 trillion yen ($50.3 billion) budget to fund purchases of fighter jets and missile defense. The request for the year from April is 1.2 percent higher than last year's, marking an eighth straight increase. 

The funds are intended to pay for big-ticket items, including six F35-B fighters capable of vertical takeoffs, as well as the upgrade of two existing destroyers to serve as aircraft carriers.