TOKYO - Japanese Prime Minister Fumio Kishida's touted vision of a "new form of capitalism" when he took office last year is turning out to be much more similar to the Abenomics policy under former premier Shinzo Abe.

An annual government policy blueprint last week - the first under Mr Kishida's administration - made grandstanding pledges to "dramatically strengthen defence capabilities within five years" while emphasising active investment in digital and green transformation and in human capital.