Japan's Largest Protests in Decades Escalate as PM Takaichi Pushes Rearmament Agenda

Anti-war demonstrations described as Japan's largest in decades have spread across Tokyo, Osaka, Kyoto, and Fukuoka, intensifying resistance to Prime Minister Sanae Takaichi's push to dismantle the country's post-war pacifist framework. Since taking office in October 2025, Takaichi has aggressively pursued constitutional revision of Article 9 and, on 21 April, lifted Japan's long-standing ban on lethal arms exports. The growing public backlash raises significant policy execution risk for the Japan 225, with defence and security-linked sectors positioned as potential near-term beneficiaries, while broader Japanese equities face headwinds from political instability and possible regional tensions.