Worth reading
58In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
37.9
% (year-on-year change in net sales)Wording
Avoiding a definitive answer
How definitive the wording is.Results for this period
Third quarter1 April 2025 to 31 December 2025ConsolidatedJapanese GAAPNet Sales2,743¥ millionYear on year +37.9%Progress 80.7%
Operating profit-6,948¥ million
Ordinary income-6,240¥ million
Net income attributable to owners of the parent-6,246¥ million
The 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.
Net income per share△53.76円
Financial position at period-end
Total assets50,818¥ million
of which net assets 16,845 ¥ millionEquity ratio 32.9%vs. prior year-end +7.5pt
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.
Outlook and shareholder returns
Full-year earnings forecast
Project revenue¥6,000 million (YoY +20.7%)
Net Sales¥3,400 million
Operating profit¥-10,000 million
Ordinary income¥-7,200 million
Net income¥-7,200 million
Revision to Earnings ForecastNet Sales Not disclosed → ¥3,400 million / Operating profit Not disclosed → ¥-10,000 million / Ordinary income Not disclosed → ¥-7,200 million / Net income Not disclosed → ¥-7,200 million
Annual Dividend Forecast¥0 → ¥0（0.0%）
Factors Behind Changes in Business Performance
ミッション開発の進捗、宇宙戦略基金への採択、ペイロードサービス契約などを記載。継続的な営業損失等については、多額の先行研究開発投資と長期の開発期間を理由として説明。
Disclosure regarding the going concern assumption
継続企業の前提に関する重要事象等の記載あり。ただし、対応策を実施しているため、継続企業の前提に関する重要な不確実性は認められないと判断。なお、継続企業の前提に関する注記は該当事項なし。
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 0 / Excluded 0 / Company name None
Material subsequent eventsNo applicable items
Impairment loss0千円（当期計上なし、対象資産なし）
Breakdown of extraordinary income (loss)Extraordinary income None / Extraordinary loss 固定資産除却損 1,416千円
Depreciation and amortization¥164,830 thousand
Orders received and order backlog40 USD million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for institutional investors and securities analysts)
Issued Shares at Period-End146,180,263株
Treasury Shares at Period-End55株
| Item | Details |
|---|---|
| Fiscal Period Classification | Third quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025 to 31 December 2025 |
| Net Sales | ¥2,743 million (YoY +37.9%) |
| Operating profit | ¥-6,948 million |
| Ordinary income | ¥-6,240 million |
| Profit attributable to owners of the parent | ¥-6,246 million |
| Net income per share | △53.76円 |
| Equity ratio | End of the current fiscal period 32.9 / End of previous period 25.4 |
| Total assets | ¥50,818 million |
| Net assets | ¥16,845 million |
| Full-year earnings forecast | Project revenue ¥6,000 million (YoY +20.7%) / Net Sales ¥3,400 million / Operating profit ¥-10,000 million / Ordinary income ¥-7,200 million / Net income ¥-7,200 million |
| Revision to Earnings Forecast | Net Sales Not disclosed → ¥3,400 million / Operating profit Not disclosed → ¥-10,000 million / Ordinary income Not disclosed → ¥-7,200 million / Net income Not disclosed → ¥-7,200 million |
| Annual Dividend Forecast | ¥0 → ¥0（0.0%） |
| Orders received and order backlog | 40 USD million |
| Depreciation and amortization | ¥164,830 thousand |
| Impairment loss | 0千円（当期計上なし、対象資産なし） |
| Breakdown of extraordinary income (loss) | Extraordinary income None / Extraordinary loss 固定資産除却損 1,416千円 |
| Disclosure regarding the going concern assumption | 継続企業の前提に関する重要事象等の記載あり。ただし、対応策を実施しているため、継続企業の前提に関する重要な不確実性は認められないと判断。なお、継続企業の前提に関する注記は該当事項なし。 |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 0 / Excluded 0 / Company name None |
| Material subsequent events | No applicable items |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for institutional investors and securities analysts) |
| Issued Shares at Period-End | 146,180,263株 |
| Treasury Shares at Period-End | 55株 |
| Factors Behind Changes in Business Performance | ミッション開発の進捗、宇宙戦略基金への採択、ペイロードサービス契約などを記載。継続的な営業損失等については、多額の先行研究開発投資と長期の開発期間を理由として説明。 |
Items this document does not state (10)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodPayout ratioShareholder Return PolicySegment revenueSegment profitRegional sales
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.会社は、多額の先行研究開発投資と長期の開発期間により、開発投資を補う収益が生じておらず、継続的な営業損失と営業キャッシュ・フローのマイナスが発生していると説明しています。売上高や損益の前年同期比の変動については、ミッション開発の進捗、宇宙戦略基金への採択、ペイロードサービス契約などを記載していますが、増減額への直接的な分解は示していません。
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.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.