Contents of this document
Briefing transcriptThird quarter of the fiscal year ending December 20267 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥30.7 100 million+83.7%
Operating profit¥-48.3 100 million
Ordinary income¥-37.3 100 million
Net income¥-38.1 100 million
Selling, general and administrative expenses¥40.4 100 million
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。
Net Sales48.4%
Total income33.0%
Total revenue (including ¥6.24 billion from the first tranche of the Space Strategy Fund, scheduled to be received in Q4)71.9%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Sales approximately 20% below the initial plan; full-year earnings forecast unchangedKey points of the Q&AKey questions raised by investors at the briefing and the company's answers
- Factors behind the sales shortfall against plan and measures to recover in the fourth quarter
- Details and probability of securing prospective projects
- Synspective OMNIA's delivery model, pricing, customers and timing of contribution
- Relationship between launch contracts for up to 63 satellites and the plan to produce 30 satellites annually
- Financial covenants under the ¥20 billion syndicated loan and financing policy
- Remaining Space Strategy Fund proceeds to be received and outlook for Phase 2
- Spillover risks from the shortened useful lives of satellites 4 and 5
- Changes in the investor base following TOPIX inclusion
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Increase in total revenue¥3.34 billion
Increase in data sales¥1.80 billion
Decrease in solutions¥100 million
Decrease in other revenue¥300 million
Increase in subsidy income¥1.94 billion
Increase in cost of sales¥1.98 billion
Increase in Depreciation Expense¥1.28 billion
Of which, impact of the shortened useful life of Unit 4¥550 million
Increase in satellite operation-related costs, etc.¥630 million
Increase in SG&A expenses¥1.09 billion
Expansion of operating losses¥1.67 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Percentage of revenue from government customersApproximately 96%
Proportion of government sales awarded or contractedApproximately 99%
Proportion of total planned sales awarded or contracted95％
Maximum planned support amount under Phase 2 of the Space Strategy Fund¥3.76 billion
Global South subsidy application amount¥220 million
Impact of increased depreciation expense due to the shortened useful life of Unit 4¥820 million
New initiatives
- Announcement of Synspective OMNIA
- Multi-launch contracts with Rocket Lab and Mitsubishi Heavy Industries
- Launch contract with Firefly Aerospace for up to 20 satellites
- Satellite data supply business with Airbus Defence and Space for the ESA Copernicus CCM
- Reseller agreements with 4 companies in South America
- UNDP satellite data and AI coastal monitoring project for Jamaica
- ¥20 billion syndicated loan agreement
Key KPIsA metric the company considers important as a management benchmark.
Order backlog
¥1,205.6 100 million
EBITDA
¥-0.4 100 million
Cash and deposits
¥119.4 100 million
Undrawn borrowing capacity
¥200.2 100 million
Liquidity
¥319.6 100 million
Number of satellites in operation
10 satellites
Orders received and order backlog
Order backlog¥120.56 billion (up ¥95.60 billion from the end of the previous fiscal year)
| Item | Details |
|---|---|
| Document type | Briefing transcript |
| Fiscal Period Covered | Third quarter of the fiscal year ending December 2026 |
| Net Sales | ¥30.7 100 million (YoY +83.7%) |
| Operating profit | ¥-48.3 100 million |
| Ordinary income | ¥-37.3 100 million |
| Net income | ¥-38.1 100 million |
| Selling, general and administrative expenses | ¥40.4 100 million |
| Progress against full-year forecast | Net Sales 48.4% / Total income 33.0% / Total revenue (including ¥6.24 billion from the first tranche of the Space Strategy Fund, scheduled to be received in Q4) 71.9% |
| Self-assessment against the plan | Sales approximately 20% below the initial plan; full-year earnings forecast unchanged |
| Breakdown of Factors Affecting the Change | Increase in total revenue ¥3.34 billion / Increase in data sales ¥1.80 billion / Decrease in solutions ¥100 million / Decrease in other revenue ¥300 million / Increase in subsidy income ¥1.94 billion / Increase in cost of sales ¥1.98 billion / Increase in Depreciation Expense ¥1.28 billion / Of which, impact of the shortened useful life of Unit 4 ¥550 million / Increase in satellite operation-related costs, etc. ¥630 million / Increase in SG&A expenses ¥1.09 billion / Expansion of operating losses ¥1.67 billion |
| Key KPIs | Order backlog ¥1,205.6 100 million / EBITDA ¥-0.4 100 million / Cash and deposits ¥119.4 100 million / Undrawn borrowing capacity ¥200.2 100 million / Liquidity ¥319.6 100 million / Number of satellites in operation 10 satellites |
| Assumptions Underlying the Business Outlook | Percentage of revenue from government customers Approximately 96% / Proportion of government sales awarded or contracted Approximately 99% / Proportion of total planned sales awarded or contracted 95％ / Maximum planned support amount under Phase 2 of the Space Strategy Fund ¥3.76 billion / Global South subsidy application amount ¥220 million / Impact of increased depreciation expense due to the shortened useful life of Unit 4 ¥820 million |
| Orders received and order backlog | Order backlog ¥120.56 billion (up ¥95.60 billion from the end of the previous fiscal year) |
| Key points of the Q&A | Factors behind the sales shortfall against plan and measures to recover in the fourth quarter, Details and probability of securing prospective projects, Synspective OMNIA's delivery model, pricing, customers and timing of contribution, Relationship between launch contracts for up to 63 satellites and the plan to produce 30 satellites annually, Financial covenants under the ¥20 billion syndicated loan and financing policy, Remaining Space Strategy Fund proceeds to be received and outlook for Phase 2, Spillover risks from the shortened useful lives of satellites 4 and 5, Changes in the investor base following TOPIX inclusion |
| New initiatives | Announcement of Synspective OMNIA, Multi-launch contracts with Rocket Lab and Mitsubishi Heavy Industries, Launch contract with Firefly Aerospace for up to 20 satellites, Satellite data supply business with Airbus Defence and Space for the ESA Copernicus CCM, Reseller agreements with 4 companies in South America, UNDP satellite data and AI coastal monitoring project for Jamaica, ¥20 billion syndicated loan agreement |
Items this document does not state (16)
Gross Profit MarginOperating profit marginResults for the three months of the current quarterFull-year earnings forecastSegment resultsUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresMarket Size / Share
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.