Japan Targets ¥370 Trillion Growth Strategy as Data Centers and Rare Earths Become National Priorities

Highlights

• Japan's ¥370 trillion public-private investment plan covers 17 strategic sectors including data centers, AI, and critical minerals through fiscal 2040.
• Rare earth magnets, gallium, and germanium represent smaller but strategically sensitive dependencies compared to copper in AI data-center mineral demand.
• Processing capacity—not just mining access—is the real geopolitical battlefield, as mineral deposits without refining leave China dependence intact.
• Japan's ¥32.7 trillion allocation through 2035 targets cloud infrastructure, data centers, and storage batteries combined.
• Investors should track commissioned megawatts and binding supply agreements rather than headline investment targets.