Japan may accelerate around $1 billion of planned spending to upgrade its ballistic missile defenses in the wake of rocket tests suggesting North Korea is close to fielding a more potent medium-range missile, three government sources told Reuters.
The outlays, currently in a budget request for the year starting April, includes money to assess a new missile defense layer - either Lockheed Martin Corp's (LMT.N) Terminal High Altitude Area Defence (THAAD) system or Aegis Ashore, a land-based version of the ballistic missile defense system used by vessels in the Sea of Japan.
It also covers money to improve the range and accuracy of PAC-3 Patriot batteries, said the sources familiar with the proposal, who asked not to be identified because they are not authorized to talk to the media.
