Worth reading
66In focus
Scored from 2 of 5 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
306
¥100 million (amount raised for strategic growth funding)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateInvestment amount by sectorField Expansion of production facilities / Amount 40 Hundreds of millions of yen, Field Maintenance and expansion of existing facilities / Amount 30 Hundreds of millions of yen, Field Manufacturing of life-extension service satellites / Amount 70 Hundreds of millions of yen
Key initiatives
01Formulation of the growth strategy
02Growth Financing
03Organizational Strengthening
04Winning ongoing-order projects
Plan assumptionsForeign exchange assumptions US$1 = ¥140, €1 = ¥150, £1 = ¥175
Non-financial targetsIndicator name Relations with defense agencies and governments / Target value Become a trusted partner of defense agencies and governments / Timing ~2027, Indicator name In-space services / Target value Make in-orbit services commonplace / Timing 2030, Indicator name Space economy / Target value Realize a circular space economy / Timing 2035, Indicator name Responsive space system demonstrator / Target value Prototype satellite scheduled for completion / Timing March 2028, Indicator name Responsive space system demonstrator / Target value Aim for a launch in or after the fiscal year ending April 2029 / Timing Fiscal year ending April 2029 onward, Indicator name Defense-related satellites / Target value Aim to win orders for multiple satellites / Timing Not disclosed
Size of the Target MarketMarket In-orbit services market / Dimensions US$18.2 billion / Period Covered Cumulative market size from 2023 to 2033 / Source Northern Sky Research In-Orbit Services Report（NSR IOSM）7th edition, Market Global government space-related spending / Dimensions 2024: US$62 billion / Growth rate 2023–2024: +6.9%; 2016–2024: +5.9% (CAGR) / Source Novaspace Government Space Programs, Market Global defense space-related spending / Dimensions 2024: US$73 billion / Growth rate 2023–2024: +23.7%; 2016–2024: +16.2% (CAGR) / Source Novaspace Government Space Programs, Market Operational geostationary satellites / Dimensions 590 satellites in total / Source Not disclosed
Risks identified by the company
Changes in, or adverse outcomes from, mission development or operations
Changes in customers' plans or needs
Competition
Changes in the legal and regulatory environment
Uncertainty inherent in an emerging market
The details and timing of potential projects do not reflect facts that have been determined and involve uncertainty
The accuracy or completeness of third-party information has not been independently verified
| Item | Details |
|---|---|
| Plan name | Medium- to Long-Term Growth Strategy |
| Plan period | The latter half of the 2020s to 2035 |
| Progress against the plan | Annual update |
| Investment amount by sector | Field Expansion of production facilities / Amount 40 Hundreds of millions of yen, Field Maintenance and expansion of existing facilities / Amount 30 Hundreds of millions of yen, Field Manufacturing of life-extension service satellites / Amount 70 Hundreds of millions of yen |
| Non-financial targets | Indicator name Relations with defense agencies and governments / Target value Become a trusted partner of defense agencies and governments / Timing ~2027, Indicator name In-space services / Target value Make in-orbit services commonplace / Timing 2030, Indicator name Space economy / Target value Realize a circular space economy / Timing 2035, Indicator name Responsive space system demonstrator / Target value Prototype satellite scheduled for completion / Timing March 2028, Indicator name Responsive space system demonstrator / Target value Aim for a launch in or after the fiscal year ending April 2029 / Timing Fiscal year ending April 2029 onward, Indicator name Defense-related satellites / Target value Aim to win orders for multiple satellites / Timing Not disclosed |
| Plan assumptions | Foreign exchange assumptions US$1 = ¥140, €1 = ¥150, £1 = ¥175 |
| Key initiatives | Formulation of the growth strategy, Growth Financing, Organizational Strengthening, Winning ongoing-order projects |
| Size of the Target Market | Market In-orbit services market / Dimensions US$18.2 billion / Period Covered Cumulative market size from 2023 to 2033 / Source Northern Sky Research In-Orbit Services Report（NSR IOSM）7th edition, Market Global government space-related spending / Dimensions 2024: US$62 billion / Growth rate 2023–2024: +6.9%; 2016–2024: +5.9% (CAGR) / Source Novaspace Government Space Programs, Market Global defense space-related spending / Dimensions 2024: US$73 billion / Growth rate 2023–2024: +23.7%; 2016–2024: +16.2% (CAGR) / Source Novaspace Government Space Programs, Market Operational geostationary satellites / Dimensions 590 satellites in total / Source Not disclosed |
| Risks identified | Changes in, or adverse outcomes from, mission development or operations, Changes in customers' plans or needs, Competition, Changes in the legal and regulatory environment, Uncertainty inherent in an emerging market, The details and timing of potential projects do not reflect facts that have been determined and involve uncertainty, The accuracy or completeness of third-party information has not been independently verified |
| Publication date | 29 July 2026 |
Items this document does not state (15)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planSegment targetResults under the previous planReason for revision or withdrawalDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To secure medium- to long-term growth funding in anticipation of entering the phase of winning ongoing-order projects, establish the foundation for entering that phase, and improve profitability.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.