The government announced Tuesday it has set up a panel to revise defense policy, tapping a businessman as chairman to head the team of experts on national security.

According to Chief Cabinet Secretary Hirofumi Hirano, the group will consist of defense experts and academics, including Kyoto University's Hiroshi Nakanishi and Keio University's Yoshihide Soeya.

The group will be headed by Shigetaka Sato, chairman and chief executive officer of Keihan Electric Railway Co.