Results for this period
Third quarter1 January 2026–30 September 2026ConsolidatedJapanese GAAPThe width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Revenue and subsidy income increased following the commencement of data deliveries under the Ministry of Defense's satellite constellation project and the recognition of subsidy income from the Space Strategy Fund. Depreciation expense for the observation satellites, project operating expenses, research and development expenses, personnel expenses, outsourced service fees and sales commissions increased, while a change in the estimated useful lives of 2 observation satellites increased the loss by ¥854 million.
Material events and other matters relating to the going concern assumption are disclosed. Although the company has identified events or circumstances that raise significant doubt due to continuing operating losses, it has determined that there are no significant concerns regarding liquidity for at least 1 year and that no material uncertainty exists regarding the going concern assumption. No applicable matters are included in the notes.
| Item | Details |
|---|---|
| Fiscal Period Classification | Third quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 January 2026–30 September 2026 |
| Net Sales | ¥3,072 million (YoY +83.7%) |
| Operating profit | ¥-4,835 million |
| Ordinary income | ¥-3,737 million |
| Profit attributable to owners of the parent | ¥-3,814 million |
| Net income per share | -¥28.75 |
| Equity ratio | End of the current fiscal period 66.8 / End of previous period 76.2 |
| Total assets | ¥52,027 million |
| Net assets | ¥35,820 million |
| Cash and cash equivalents at end of period | ¥11,943,898 thousand |
| Full-year earnings forecast | Net Sales ¥6,353 million (YoY +167.3%) / Operating profit ¥-5,467 million / Ordinary income ¥3,010 million / Net income ¥2,624 million |
| Revision to Earnings Forecast | No |
| Annual Dividend Forecast | ¥0 → ¥0（0.0%） |
| Orders received and order backlog | Order backlog ¥120,565,449 thousand |
| Depreciation and amortization | ¥2,764,193 thousand |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of fixed assets ¥144 thousand, Other ¥0 thousand / Extraordinary loss Loss on disposal of fixed assets ¥2,877 thousand |
| Disclosure regarding the going concern assumption | Material events and other matters relating to the going concern assumption are disclosed. Although the company has identified events or circumstances that raise significant doubt due to continuing operating losses, it has determined that there are no significant concerns regarding liquidity for at least 1 year and that no material uncertainty exists regarding the going concern assumption. No applicable matters are included in the notes. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate Yes / Restatement No |
| Changes in the scope of consolidation | New 1 / Name of newly included company Synspective Europe GmbH / Excluded 0 / Excluded Company Name Not disclosed |
| Material subsequent events | A multi-launch contract was signed with Firefly Aerospace on 10 November 2026. The plan calls for up to 10 dedicated launches by 2030, placing up to 20 satellites into orbit. There is no impact on the full-year earnings forecast. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable No / Subject person Not disclosed |
| Issued Shares at Period-End | 134,537,000 |
| Treasury Shares at Period-End | 50 |
| Factors Behind Changes in Business Performance | Revenue and subsidy income increased following the commencement of data deliveries under the Ministry of Defense's satellite constellation project and the recognition of subsidy income from the Space Strategy Fund. Depreciation expense for the observation satellites, project operating expenses, research and development expenses, personnel expenses, outsourced service fees and sales commissions increased, while a change in the estimated useful lives of 2 observation satellites increased the loss by ¥854 million. |
Items this document does not state (10)
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.Revenue and subsidy income increased following the commencement of data deliveries under the Ministry of Defense's satellite constellation project and the recognition of subsidy income from the Space Strategy Fund. At the same time, depreciation expense for the observation satellites, operating expenses for the project, research and development expenses for next-generation satellites, personnel expenses, outsourced service fees and sales commissions increased. In addition, a change in the estimated useful lives of 2 observation satellites increased the operating loss and other losses by ¥854 million.