Decision and Details
Board of DirectorsChange to a new launch insurance contract covering 9 small SAR satellites (excess-deductible structure)
The change is intended to significantly reduce insurance premium costs, direct the resulting savings toward growth investment for the early construction of the satellite constellation, and improve capital efficiency. It is also intended to fully cover failures from the second onward and thereby reasonably eliminate the critical financial and business continuity risks arising from multiple failures.
The impact on the full-year earnings forecast for December 2026 is minor
| Item | Details |
|---|---|
| Matter Covered | Change to a new launch insurance contract covering 9 small SAR satellites (excess-deductible structure) |
| Decision-Making Body | Board of Directors |
| Decision Date | 17 September 2026 (date of the resolution at the Board of Directors meeting held today) |
| Period Covered | Launch period for the 9 covered satellites (specific period: Not disclosed) |
| Quantity / scale | 9 covered satellites (Satellite No. 13 and 8 pre-identified satellites); plans to build a satellite constellation of more than 30 satellites |
| Impact on Business Performance | The impact on the full-year earnings forecast for December 2026 is minor |
| Reason | The change is intended to significantly reduce insurance premium costs, direct the resulting savings toward growth investment for the early construction of the satellite constellation, and improve capital efficiency. It is also intended to fully cover failures from the second onward and thereby reasonably eliminate the critical financial and business continuity risks arising from multiple failures. |
| Related previous disclosures | The Securities Report for the Eighth Fiscal Year filed on 26 March 2026; the full-year earnings forecast for December 2026 disclosed on 13 February 2026 |
| Future plans | The policy is to flexibly select and optimize fully covered contracts, excess-deductible contracts and other arrangements according to the diversification of launch operators and the reliability levels of each rocket. If any matter requiring disclosure arises, it will be disclosed promptly. |
Items this document does not state (3)
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 change is intended to reduce insurance premium costs, on the premise that launch operators with high success rates have been selected based on their performance over the past several years, and to direct the resulting savings toward growth investment for the early construction of the satellite constellation, thereby improving capital efficiency. It is also intended to limit financial and business continuity risks from multiple failures by providing full coverage for failures from the second onward.