Japan to boost funding to private sector to spur space industry

Japan decided Tuesday to boost funding to private companies and universities via the government-backed Japan Aerospace Exploration Agency in a bid to stimulate the space industry.

The decision, part of revisions to the basic plan on Japan’s space policy, came after the ruling Liberal Democratic Party suggested in late March that the government create a 1 trillion yen ($7.2 billion) fund over 10 years, citing examples in the United States and Europe.

With increased funding, JAXA will invest in startups and companies in other industries and assist the development of advanced technologies and hum...