Japan's leading tobacco company got a big boost Thursday from government plans to finance the reconstruction of areas hit by a devastating earthquake and tsunami in March.

Shares in Japan Tobacco Incorporated — the world's third largest publicly traded cigarette company — were up as much as 9 percent on news the government will sell its majority stake in the company to help finance the rebuilding.

The government said late Wednesday it also plans to raise billions of dollars by selling off its stake in a number of energy companies.

The plan, negotiated between government officials and the ruling Democratic Party of Japan, also calls for $120 billion in temporary tax increases. It remains unclear whether it will be approved by Japan's divided parliament.