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
-2800
百万円（売上高予想の前回予想比）Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Earnings presentationFiscal year ending March 2026, third quarter5 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,743 million+37.9%Q3累計実績
Operating profit¥-6,948 millionQ3累計実績
Ordinary income¥-6,240 millionQ3累計実績
Net income¥-6,246 millionQ3累計実績
Selling, general and administrative expenses¥6,281 millionQ3累計実績
Full-year earnings forecast
Project revenue
¥6,000 million
Net Sales
¥3,400 million
Gross profit
¥-1,400 million
Selling, General and Administrative Expenses
¥8,600 million
Operating profit (loss)
¥-10,000 million
Ordinary profit or loss
¥-7,200 million
Net income (loss) for the current fiscal year
¥-7,200 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 Sales80.7%
Selling, General and Administrative Expenses73.0%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Revenue forecast
Vs. Previous Forecast¥-2,800 million
Factors
- ミッション3の入金遅延に伴う前受金不足
- ミッション4のエンジン開発遅延・支出後ろ倒し
- ミッション2・5
- Other
営業損益予想
Vs. Previous Forecast¥1,500 million
Factors
- ミッション3・4の開発費支出の遅れ
- 一部開発費の後ろ倒し
最終損益予想
Vs. Previous Forecast¥1,100 million
Factors
- Revenue Decline
- 補助収入減少
- Funding Costs
- Decrease in selling, general and administrative expenses
- Foreign exchange gains, etc.
New initiatives
- サウジアラビア現地法人の設立
- JAXAとの電動ポンプを用いた月着陸用推進系の共同研究契約
- JAXAからのシスルナ経済圏に関する検討受託
- 栗田工業との水資源開発に関する戦略的パートナーシップ
- JALグループとの月面輸送・運航分野の協業検討
- ダイモンとのペイロード輸送ボックス共同検討
- 立命館大学等との宇宙戦略基金研究への採択
Key KPIsA metric the company considers important as a management benchmark.
- 総契約金額・獲得見込み収益¥583 100 million or more
- Potential demand¥972 100 million or more
- M3契約総額¥127 100 million
- M4契約総額¥58 100 million
Market Size / Share
サウジアラビア宇宙市場
$31.6Bn（2035年予測）
Market Growth Rate年平均12%
Number of employees
Change during the period前年同期比+31名
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Fiscal year ending March 2026, third quarter |
| Net Sales | 2,743 百万円（Q3累計実績） (YoY +37.9%) |
| Operating profit | -6,948 百万円（Q3累計実績） |
| Ordinary income | -6,240 百万円（Q3累計実績） |
| Net income | -6,246 百万円（Q3累計実績） |
| Selling, general and administrative expenses | 6,281 百万円（Q3累計実績） |
| Full-year earnings forecast | Project revenue ¥6,000 million / Net Sales ¥3,400 million / Gross profit ¥-1,400 million / Selling, General and Administrative Expenses ¥8,600 million / Operating profit (loss) ¥-10,000 million / Ordinary profit or loss ¥-7,200 million / Net income (loss) for the current fiscal year ¥-7,200 million |
| Progress against full-year forecast | Net Sales 80.7% / Selling, General and Administrative Expenses 73.0% |
| Breakdown of Factors Affecting the Change | Revenue forecast Vs. Previous Forecast ¥-2,800 million / Factors ミッション3の入金遅延に伴う前受金不足, ミッション4のエンジン開発遅延・支出後ろ倒し, ミッション2・5, Other / 営業損益予想 Vs. Previous Forecast ¥1,500 million / Factors ミッション3・4の開発費支出の遅れ, 一部開発費の後ろ倒し / 最終損益予想 Vs. Previous Forecast ¥1,100 million / Factors Revenue Decline, 補助収入減少, Funding Costs, Decrease in selling, general and administrative expenses, Foreign exchange gains, etc. |
| Key KPIs | Indicator name 総契約金額・獲得見込み収益 / Value ¥583 100 million or more / Year on year against the same period last year Not disclosed, Indicator name Potential demand / Value ¥972 100 million or more / Year on year against the same period last year Not disclosed, Indicator name M3契約総額 / Value ¥127 100 million / Year on year against the same period last year Not disclosed, Indicator name M4契約総額 / Value ¥58 100 million / Year on year against the same period last year Not disclosed |
| Number of employees | Number of Employees Not disclosed / Change during the period 前年同期比+31名 |
| Market Size / Share | サウジアラビア宇宙市場 $31.6Bn（2035年予測） / Market Growth Rate 年平均12% |
| New initiatives | サウジアラビア現地法人の設立, JAXAとの電動ポンプを用いた月着陸用推進系の共同研究契約, JAXAからのシスルナ経済圏に関する検討受託, 栗田工業との水資源開発に関する戦略的パートナーシップ, JALグループとの月面輸送・運航分野の協業検討, ダイモンとのペイロード輸送ボックス共同検討, 立命館大学等との宇宙戦略基金研究への採択 |
Items this document does not state (17)
Gross Profit MarginOperating profit marginResults for the three months of the current quarterSelf-assessment against the planSegment resultsUnit price and quantity metricsNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey 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.ミッション3・4で新エンジン開発が遅れ、顧客からの入金や開発支出が後ろ倒しとなり、締結済み契約の売上計上やSBIR補助金収入が翌期以降へ繰り越されるため。最終損益は、開発費・販管費の支出遅延と為替差益の影響により前回予想から改善する見込み。
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.