Japan will compile a fourth extra budget for the first time in more than 60 years to support an economy under threat from a yen near postwar highs and Thai floods that have disrupted production.
Prime Minister Yoshihiko Noda ordered the compilation of the budget Thursday, Finance Minister Jun Azumi told reporters in Tokyo. The package will be drafted this month and won't require the sale of deficit-covering bonds, he said.
The government has already allocated ¥18 trillion ($232 billion) in three reconstruction packages to help the economy recover from March's historic disasters.
Companies from Toyota Motor Corp. to Sony Corp. have been contending with a surging yen against the dollar that threatens to crimp profits as well as flooding in Thailand that forced factory closures.
"We want the supplementary budget to support Japan's economy and companies," Azumi said.
Reports in recent weeks have indicated the rebound from the March catastrophe is waning — exports slid in October and the unemployment rate advanced, with data Wednesday showing manufacturers planned to cut output in November.
Noda last month won parliamentary approval for his ¥12.1 trillion stimulus package, which also included ¥2 trillion worth of measures to help companies cope with the stronger currency. Two earlier stimulus packages totaled ¥6 trillion.
Toyota lost about 190,000 units of production globally from Oct. 10 through Nov. 19 because of the floods in Thailand, the company said. About 30 electrical parts are still in "critical" supply, it said.