The world's biggest record label aims to make the album available by the end of the week, although the lineup of artists has yet to be finalized. Proceeds will go to the Japanese Red Cross, a spokesman for the group said on Monday.
"We are doing it only digitally because it is faster, and this will be a worldwide release. The plan is to have it available later this week," he added.
Key to the album's success will be finding more major acts willing to waive their royalties on the song appearing on the record.
Lady Gaga, also part of the Universal stable, may be one of the stars tapped to contribute to the album, having already raised money for the victims of Japan's recent natural disasters by selling a special wristband.
The March 11 earthquake and tsunami left at least 21,000 people dead or missing.
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