Japan will pay about $1 billion for the joint development of the next-generation interceptor missile with the United States.
Japan will shoulder $1 billion to $1.2 billion, one-third of the estimated total cost of $3 billion, in the next nine years, according to the Yomiuri Shimbun.
The next-generation interceptor missile - joint research for which has been carried out since 1999 - is an advanced version of the Standard Missile 3 and will be carried on Aegis-equipped destroyers. With a development deadline of 2014, the Japanese and the United States governments plan to begin production in 2015.
Japan will develop the nose cone, which protects the sensor from heat caused by air friction, and a two-stage starter motor, while the United States will be responsible for a kinetic warhead that targets an incoming missile and destroys it, and a device that detects infrared rays to identify and track targets, UPI reports.