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EXCLUSIVE: Industry ministry to seek 1.4 t. yen in FY 2022 budget

  • August 23, 2021
  • , Jiji Press , 11:01 p.m.
  • English Press

Tokyo, Aug. 23 (Jiji Press)–Japan’s industry ministry is expected to make a budget request of 1,402.6 billion yen for fiscal 2022, putting emphasis on measures to help realize decarbonization, Jiji Press learned Monday.


The combined amount in the general and special accounts will represent an increase of 11.1 pct from the fiscal 2021 initial budget.


The ministry hopes to secure funds to promote electric vehicles and renewable energy toward the target of a carbon-neutral society, as well as to support reconstruction after the March 2011 earthquake and tsunami and the disposal of radioactive water at Tokyo Electric Power Company Holdings Inc.’s <9501> Fukushima No. 1 nuclear power plant, hit by a triple meltdown following the tsunami.


The government aims to limit all new vehicles sold in Japan to electrified vehicles, including hybrid vehicles, by 2035.


The ministry hopes to earmark 33.5 billion yen, double the amount in the fiscal 2021 initial budget, for subsidies for purchases of electric and other vehicles.


Also planned is spending of 400 million yen to help automotive parts makers shift to new businesses, as many of the existing vehicle parts will become unnecessary as gasoline vehicle sales are terminated.


The ministry plans to set aside 650 million yen for subsidies to train engineers for offshore wind power generation, which is considered a trump card to spread renewable energy. It also wants to utilize 250 million yen to support related surveys.


Regarding the planned release of treated radioactive water at the Fukushima plant into the ocean, the ministry will ask for 18.1 billion yen for facilities and equipment needed to analyze radioactive material in the water.


It will seek 151.4 billion yen for postdisaster reconstruction-related measures, including those to dispel reputational damage and increase nonresident populations in the areas affected by the 2011 disaster.

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