We are very pleased to present a new paper published by the Poland Japan Foundation: Guns, Debt and Aging: Japan’s Security Strategy under Fiscal Constraint by Professor Boštjan Bertalanič. This study, just after the LDP’s big win in the recent election in Japan, examines Japan’s historic defense buildup under Prime Minister Sanae Takaichi at a moment when the country faces record public debt, rapid demographic decline, labor shortages, and a weak yen. The paper contributes to ongoing discussions on security, political economy, and demographic change.