Worth reading
34Immaterial
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
1
Years (postponement of the planned Mission3 launch)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedThis document does not state the plan name, plan period, or numerical targets.
Key initiatives
01Positioning as Japan's leading company in lunar development
02Capturing global demand generated by partnerships originating in Japan
03Maintaining a leading position in lunar transportation technology
04A financial support structure through Team Japan
05Increasing revenue from payload services, followed by establishing data services using data accumulated from multiple missions
Plan assumptionsThe assumed unit price is US$1.5 million/kg, with the possibility of some reduction going forward, The lunar market expands in line with third-party forecasts, The factors considered in setting the business objectives develop as currently assumed, The number of data service customers increases at a rate comparable to the market growth rate assumed by the company, A vision in which the lunar population reaches 1,000 residents and the number of annual visitors reaches 10,000 in the 2040s
Size of the Target MarketMarket Lunar transportation market / Scale Approximately ¥0.2 trillion per year (2026–2030) / Source PwC, 2nd Edition Lunar Market Study, “Market Opportunities for Infrastructure Development Leading to the Creation of a Lunar Economic Zone” (February 2026), Market Lunar transportation market / Scale Approximately ¥8.0 trillion per year (2046–2050, projected lunar transportation market) / Source Company estimate based on PwC's 2nd Edition Lunar Market Study, Market NASA MOON BASE investment / Scale ¥4.8 trillion (through 2036) / Source NASA, “Building the Moon Base” (March 2026), Market Public and private investment by the Japanese government in lunar exploration and low-Earth-orbit technologies / Scale ¥5.6 trillion (expected through 2040) / Source Cabinet Secretariat materials
Risks identified by the company
The lunar market does not expand in line with third-party forecasts
The factors considered in setting the business objectives do not develop as currently assumed
Events beyond the company's control
Uncertainties in development, including uncertainties on the lander side, uncertainties attributable to customer payloads, and interface coordination
Sales success rate, including uncertainty regarding demand and sales capabilities
Internal payload weight
Inability to secure the personnel required to provide data services as assumed
Reason for revision or withdrawal
The company had initially agreed with the Ministry of Economy, Trade and Industry and the SBIR Secretariat to launch Mission3 in 2027. However, as of 26 June 2026, its internal development plan indicates that the launch is expected to take place in 2028. The company is currently coordinating this change with the relevant government agencies and the SBIR Secretariat. Ultimately, the plan change will be formally approved after permission is obtained from the Minister of Economy, Trade and Industry.
| Item | Details |
|---|---|
| Progress against the plan | Partially revised |
| Plan assumptions | The assumed unit price is US$1.5 million/kg, with the possibility of some reduction going forward, The lunar market expands in line with third-party forecasts, The factors considered in setting the business objectives develop as currently assumed, The number of data service customers increases at a rate comparable to the market growth rate assumed by the company, A vision in which the lunar population reaches 1,000 residents and the number of annual visitors reaches 10,000 in the 2040s |
| Key initiatives | Positioning as Japan's leading company in lunar development, Capturing global demand generated by partnerships originating in Japan, Maintaining a leading position in lunar transportation technology, A financial support structure through Team Japan, Increasing revenue from payload services, followed by establishing data services using data accumulated from multiple missions |
| Reason for revision or withdrawal | The company had initially agreed with the Ministry of Economy, Trade and Industry and the SBIR Secretariat to launch Mission3 in 2027. However, as of 26 June 2026, its internal development plan indicates that the launch is expected to take place in 2028. The company is currently coordinating this change with the relevant government agencies and the SBIR Secretariat. Ultimately, the plan change will be formally approved after permission is obtained from the Minister of Economy, Trade and Industry. |
| Size of the Target Market | Market Lunar transportation market / Scale Approximately ¥0.2 trillion per year (2026–2030) / Source PwC, 2nd Edition Lunar Market Study, “Market Opportunities for Infrastructure Development Leading to the Creation of a Lunar Economic Zone” (February 2026), Market Lunar transportation market / Scale Approximately ¥8.0 trillion per year (2046–2050, projected lunar transportation market) / Source Company estimate based on PwC's 2nd Edition Lunar Market Study, Market NASA MOON BASE investment / Scale ¥4.8 trillion (through 2036) / Source NASA, “Building the Moon Base” (March 2026), Market Public and private investment by the Japanese government in lunar exploration and low-Earth-orbit technologies / Scale ¥5.6 trillion (expected through 2040) / Source Cabinet Secretariat materials |
| Risks identified | The lunar market does not expand in line with third-party forecasts, The factors considered in setting the business objectives do not develop as currently assumed, Events beyond the company's control, Uncertainties in development, including uncertainties on the lander side, uncertainties attributable to customer payloads, and interface coordination, Sales success rate, including uncertainty regarding demand and sales capabilities, Internal payload weight, Inability to secure the personnel required to provide data services as assumed |
| Publication date | 26 June 2026 |
Items this document does not state (18)
Plan namePlan periodSales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSegment targetNon-financial targetsResults under the previous planDate of board resolution
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 company had initially agreed with the Ministry of Economy, Trade and Industry and the SBIR Secretariat to launch Mission3 in 2027. However, based on its internal development plan as of 26 June 2026, it expects the launch to take place in 2028. The company explained that it is coordinating with the relevant government agencies and the SBIR Secretariat, and that permission from the Minister of Economy, Trade and Industry is required for the plan change to be formally approved.
How to read this page
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.