Japan’s Financial Services Agency has requested ¥40.3 billion for fiscal 2027, or Reiwa 9, which runs from April 2027 to March 2028. The request is ¥13.4 billion above the previous year and includes ¥20.0 billion for personnel, ¥15.5 billion for operating expenses and ¥4.8 billion allocated centrally through the Digital Agency. The agency plans 32 additional positions, including 13 assigned to newly emerging financial services and a dedicated team to monitor crypto service providers. Other planned teams will strengthen oversight of electronic payment instrument operators, improve digitally enabled payment systems and address risks linked to technologies such as AI. The request also includes ¥4.8 billion for growth investment, including on-chain finance, and ¥6.4 billion for financial-system confidence and user protection, including cybersecurity and AI market monitoring.