Reducing Financial Risk from Missed Missions Through Monthly Insurance
First written in FY2024. 3 of 5 entries say "Restated". Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026RestatedAnnual report
「As of the date of filing, the company had not entered into insurance contracts for Mission 3 and subsequent missions. In addition, because the terms of lunar mission insurance had not yet been established as of the date of filing and involved uncertainty, the company might be unable to obtain insurance on its desired economic terms, might be unable to obtain coverage broad enough to fully cover its losses, or might see its earnings pressured by high premiums.」
The company continued to describe the absence of insurance contracts for Mission 3 and subsequent missions, as well as uncertainty regarding coverage scope, premiums and the terms of obtaining coverage. - FY2026-H1RestatedAnnual report
「As of the date of filing, the company had not entered into insurance contracts for Mission 3 and subsequent missions. In addition, because the terms of lunar mission insurance had not yet been established and involved uncertainty, the company might be unable to obtain insurance on its desired economic terms, might be unable to obtain coverage broad enough to fully cover its losses, or might see its earnings pressured by high premiums.」
The company continued to describe the absence of insurance contracts for Mission 3 and subsequent missions, as well as uncertainty regarding the undeveloped insurance product, coverage scope and premiums. - FY2025WorsenedAnnual report
「The company had also taken out lunar mission insurance for Mission 2 with Mitsui Sumitomo Insurance Company, Limited. The insurance coverage period ran from the rocket launch until completion of confirmation of the lander’s orbital control to an approximately 100-kilometer-altitude circular lunar orbit, and the insured amount was approximately ¥2.1 billion. However, the failure to complete the Mission 2 lunar landing occurred outside the insurance coverage period, so no insurance proceeds are expected.」
The failure to achieve a landing for Mission 2 was outside the insurance coverage period, making clear the circumstances in which insurance proceeds could not be received. The company also stated that it had not entered into insurance contracts for Mission 3 and subsequent missions as of the date of filing. - FY2025-H1RestatedAnnual report
「The company recognizes risk reduction through insurance as one means of ensuring financial soundness and is considering using insurance for Mission 2 and subsequent missions.」
The company reiterated its policy of considering the use of insurance as a measure to reduce financial risk for Mission 2 and subsequent missions. - FY2024First statedAnnual report
「The company has selected SpaceX’s Falcon 9, which has conducted more than 350 launches in total and has an extremely reliable track record, with a historical launch success rate of approximately 99%. To mitigate financial risk in the event of a problem, it plans to obtain lunar mission insurance from a third-party non-life insurer for all missions. For Mission 1, it had entered into a non-life insurance contract with Mitsui Sumitomo Insurance Company, Limited.」
Based on its receipt of insurance proceeds for Mission 1, the company positioned lunar mission insurance covering all missions as a measure to reduce financial risk. However, it stated that no contract had been concluded for Mission 2 as of the date of filing.