Worth reading
76Important
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
2550
¥ million (year-on-year increase in total revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationSecond quarter of the fiscal year ending December 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,691 million+27.4%
Operating profit¥-3,350 million
Ordinary income¥-1,372 million
Net income¥-1,417 million interim net loss attributable to owners of the parent
Selling, general and administrative expenses¥2,634 million
Full-year earnings forecast
Total income
¥16,052 million
Net Sales
¥6,353 million
Operating profit
¥-5,467 million
Ordinary income
¥3,010 million
Profit attributable to owners of the parent
¥2,624 million
EBITDA
¥8,399 million
Satellites in operation at period-end
10 satellites
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Total income24.4%
Net Sales26.6%
EBITDA10.3%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
In line with expectationsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Data salesUp ¥750 million year on year
- SolutionsDown ¥90 million year on year
- Other salesDown ¥300 million year on year
- Subsidy IncomeUp ¥2.18 billion year on year
- DepreciationUp ¥480 million year on year
- Costs related to satellite operations and other activitiesUp ¥380 million year on year
- Personnel expensesUp ¥70 million year on year
- Research and development costsUp ¥30 million year on year
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Percentage of revenue from government customersApproximately 94%
- Percentage of government revenue awarded or under contractApproximately 96% (90% of total sales)
- Amount of Ministry of Defense satellite constellation project revenue recognized from April 2026 to March 20279 months of the ¥7.41 billion total
- Sales CommissionsApproximately ¥300 million
- Impact of the shortened useful life of Satellite 4 in FY2026 December¥820 million
New initiatives
- Expand the Yamato Technology Center to support a maximum annual production capacity of 30 satellites
- Establish Synspective Europe GmbH in Germany
- Enter into a multi-year strategic partnership with e-GEOS
- Expand the strategic partnership with KSAT
- Cooperate in a joint study under the Japan–Thailand Memorandum of Cooperation on low Earth orbit satellite constellations
- Replace components on Satellite 4 and fine-tune its operations
Key KPIsA metric the company considers important as a management benchmark.
- Total income¥3,918 millionYear on year against the same period last year+186.5%
- Order backlog¥121,714 millionYear on year against the same period last year+387.6% vs. the previous fiscal year-end
- EBITDA¥867 millionYear on year against the same period last year+¥1,830 million
- Cash and deposits¥16,209 millionYear on year against the same period last year△¥8,332 million vs. the previous fiscal year-end
- Satellites in operation at quarter-end6 satellitesYear on year against the same period last year+2 satellites vs. the previous fiscal year-end
Market Size / Share
- Approximately ¥39.9 trillion (2023)DetailsMarket for satellite data and related products
- Approximately ¥100 trillion (forecast for 2030)DetailsMarket for satellite data and related products
Orders received and order backlog
Order backlog¥1,217.1 hundred million
Number of employees
Number of Employees263 people consolidated, as of the end of June 2026
Hiring planPlans to increase headcount by approximately 60–70 people year on year
Capital expenditures
¥757 million factory capital expenditures, amount recognized during the fiscal year; investment amount
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Net Sales | ¥1,691 million (YoY +27.4%) |
| Operating profit | ¥-3,350 million |
| Ordinary income | ¥-1,372 million |
| Net income | ¥-1,417 million (interim net loss attributable to owners of the parent) |
| Selling, general and administrative expenses | ¥2,634 million |
| Full-year earnings forecast | Total income ¥16,052 million / Net Sales ¥6,353 million / Operating profit ¥-5,467 million / Ordinary income ¥3,010 million / Profit attributable to owners of the parent ¥2,624 million / EBITDA ¥8,399 million / Satellites in operation at period-end 10 satellites |
| Progress against full-year forecast | Total income 24.4% / Net Sales 26.6% / EBITDA 10.3% / Operating profit Not disclosed / Ordinary income Not disclosed / Net income Not disclosed |
| Self-assessment against the plan | In line with expectations |
| Breakdown of Factors Affecting the Change | Factors Data sales / Amount Up ¥750 million year on year, Factors Solutions / Amount Down ¥90 million year on year, Factors Other sales / Amount Down ¥300 million year on year, Factors Subsidy Income / Amount Up ¥2.18 billion year on year, Factors Depreciation / Amount Up ¥480 million year on year, Factors Costs related to satellite operations and other activities / Amount Up ¥380 million year on year, Factors Personnel expenses / Amount Up ¥70 million year on year, Factors Research and development costs / Amount Up ¥30 million year on year |
| Key KPIs | Indicator name Total income / Value ¥3,918 million / Year on year against the same period last year +186.5%, Indicator name Order backlog / Value ¥121,714 million / Year on year against the same period last year +387.6% vs. the previous fiscal year-end, Indicator name EBITDA / Value ¥867 million / Year on year against the same period last year +¥1,830 million, Indicator name Cash and deposits / Value ¥16,209 million / Year on year against the same period last year △¥8,332 million vs. the previous fiscal year-end, Indicator name Satellites in operation at quarter-end / Value 6 satellites / Year on year against the same period last year +2 satellites vs. the previous fiscal year-end |
| Number of employees | Number of Employees 263 people (consolidated, as of the end of June 2026) / Change during the period Not disclosed / Hiring plan Plans to increase headcount by approximately 60–70 people year on year |
| Assumptions Underlying the Business Outlook | Item Percentage of revenue from government customers / Value Approximately 94%, Item Percentage of government revenue awarded or under contract / Value Approximately 96% (90% of total sales), Item Amount of Ministry of Defense satellite constellation project revenue recognized from April 2026 to March 2027 / Value 9 months of the ¥7.41 billion total, Item Sales Commissions / Value Approximately ¥300 million, Item Impact of the shortened useful life of Satellite 4 in FY2026 December / Value ¥820 million |
| Capital expenditures | ¥757 million (factory capital expenditures, amount recognized during the fiscal year; investment amount) |
| Orders received and order backlog | Order backlog ¥1,217.1 hundred million |
| Market Size / Share | Market Size Approximately ¥39.9 trillion (2023) / Details Market for satellite data and related products, Market Size Approximately ¥100 trillion (forecast for 2030) / Details Market for satellite data and related products |
| New initiatives | Expand the Yamato Technology Center to support a maximum annual production capacity of 30 satellites, Establish Synspective Europe GmbH in Germany, Enter into a multi-year strategic partnership with e-GEOS, Expand the strategic partnership with KSAT, Cooperate in a joint study under the Japan–Thailand Memorandum of Cooperation on low Earth orbit satellite constellations, Replace components on Satellite 4 and fine-tune its operations |
Items this document does not state (13)
Gross Profit MarginOperating profit marginResults for the three months of the current quarterSegment resultsUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesKey points of the Q&A
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 main factors were the recognition of sales from the Ministry of Defense satellite constellation project, higher grant income, including funding from the Space Strategy Fund, and the accelerated recognition of depreciation expense resulting from the shortened useful life of Satellite 4. The full-year forecast was left unchanged because the policy is to absorb the increase in depreciation expense through a review of selling, general and administrative expenses in the second half and efficiency improvements in certain investment projects.
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.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.