Japan will provide approximately $10 billion in financial support to help Southeast Asian nations weather soaring oil prices that threaten production of petroleum-derived goods. Prime Minister Sanae Takaichi announced the initiative Wednesday at a regional forum including Thailand, Vietnam, the Philippines and Malaysia.

The pledge targets disruptions stemming from the Middle East war, which has driven crude prices higher and squeezed a region that manufactures essential oil-based products ranging from plastics to medical equipment. Takaichi said the aid equals roughly a year's worth of Southeast Asian oil imports.

The move also addresses Japan's own vulnerabilities. The country holds one of the world's largest strategic petroleum reserves — 254 days of domestic demand — and began releasing those stocks last month. Still, Japan faces a naphtha shortage that recently prompted Toto to suspend prefabricated bathroom orders. Takaichi warned that fuel disruptions would hinder imports of hemodialysis equipment, surgical gloves and other medical supplies Japan relies on from Asian partners.

The support aims to protect both regional manufacturing and Japan's supply chains. "In order to protect the lives and livelihoods of its citizens," Takaichi said, Japan is helping Asian neighbors maintain production.