The rocket is planned to be built by the mid-2030s.
Japan and the United States intend to spend three billion dollars to develop a new missile to intercept hypersonic weapons.
Tokyo will allocate one billion, Kyodo news agency reports, citing the Pentagon's missile defense department.
The missile is scheduled to be built by the mid-2030s. It will become the second U.S.-Japanese development in the missile field after the SM-3 Block2A missile, which is designed to intercept ballistic missiles. The U.S. and Japanese leaders agreed on the new development in August 2023.
The new missile will have to intercept the warhead during the planning phase in the air, when it separates after launch and heads toward the target. To improve detection and tracking capabilities, the United States will create a system using a constellation of small, high-precision satellites.
The new missile will be deployed on US warships and Japanese Navy destroyers, which are equipped with the Aegis anti-missile system (Aegis).
Earlier it was reported that Biden's words could worsen relations with Japan and India.