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Japan's Shipbuilders Association plans to invest $2.3 billion to modernize the domestic shipbuilding industry, aiming for a total of $6.5 billion by 2035 through public contributions. This initiative, supported by a Memorandum of Understanding with the U.S. for enhanced collaboration, seeks to address Japan's declining market share in new ship orders, which has dropped to just over 10%. The investment will focus on upgrading shipyards and introducing advanced automation, as Japan aims to become a leader in zero-emission and autonomous shipbuilding by 2040.