Recognition of non-operating income (government subsidy income and insurance proceeds)
Synspective Inc. (the Company)
The technology development theme "Accelerating the Construction of Commercial Satellite Constellations" under the Space Strategy Fund, and some of the procured artificial satellite components
Government subsidy: selection as an eligible recipient and receipt of a grant award decision under the Space Strategy Fund promoted by JAXA. Insurance proceeds: damage identified in some of the procured artificial satellite components.
¥2,178 million in government subsidy income (non-operating income) and ¥30 million in insurance proceeds (non-operating income)
The consolidated accounting period for the second quarter of the fiscal year ending December 2026 (1 April 2026 to 30 June 2026)
The government subsidy income is already reflected in the consolidated full-year earnings forecast for the fiscal year ending December 2026 and will have no impact. The insurance proceeds are not reflected in the earnings forecast, but their impact on earnings is expected to be immaterial. If an event occurs requiring revision of the earnings forecast, the Company will disclose it promptly.
Related procedures
National Research and Development Agency, Japan Aerospace Exploration Agency (JAXA)
The Company will recognize the government subsidy income and insurance proceeds as non-operating income during the consolidated accounting period for the second quarter of the fiscal year ending December 2026. If an event occurs requiring revision of the earnings forecast, the Company will disclose it promptly.
| Item | Details |
|---|---|
| Event name | Recognition of non-operating income (government subsidy income and insurance proceeds) |
| Date recognized / date notice received | Government subsidy: 6 March 2025 (grant award decision date). Insurance proceeds: Not disclosed (the date on which the component damage was identified is not provided) |
| Subject Entity | Synspective Inc. (the Company) |
| Target Locations / Products | The technology development theme "Accelerating the Construction of Commercial Satellite Constellations" under the Space Strategy Fund, and some of the procured artificial satellite components |
| Cause | Government subsidy: selection as an eligible recipient and receipt of a grant award decision under the Space Strategy Fund promoted by JAXA. Insurance proceeds: damage identified in some of the procured artificial satellite components. |
| Amount of Impact on Business Performance | ¥2,178 million in government subsidy income (non-operating income) and ¥30 million in insurance proceeds (non-operating income) |
| Accounting period in which recognized | The consolidated accounting period for the second quarter of the fiscal year ending December 2026 (1 April 2026 to 30 June 2026) |
| Impact on Earnings Forecast | The government subsidy income is already reflected in the consolidated full-year earnings forecast for the fiscal year ending December 2026 and will have no impact. The insurance proceeds are not reflected in the earnings forecast, but their impact on earnings is expected to be immaterial. If an event occurs requiring revision of the earnings forecast, the Company will disclose it promptly. |
| Court or authority | National Research and Development Agency, Japan Aerospace Exploration Agency (JAXA) |
| Outlook | The Company will recognize the government subsidy income and insurance proceeds as non-operating income during the consolidated accounting period for the second quarter of the fiscal year ending December 2026. If an event occurs requiring revision of the earnings forecast, the Company will disclose it promptly. |
| Planned follow-up disclosure | If an event occurs requiring revision of the earnings forecast, the Company will disclose it promptly. |
Items this document does not state (14)
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.The government subsidy income will be recognized because the Company was selected as an eligible recipient and received a grant award decision under the technology development theme "Accelerating the Construction of Commercial Satellite Constellations" under the Space Strategy Fund promoted by JAXA. The insurance proceeds will be recognized because damage was identified in some of the procured artificial satellite components and the Company will receive insurance proceeds under a pre-launch insurance policy.