Axelspace Holdings Corporation (listed on the TSE Growth market) announced that it had revised down its full-year forecast for the fiscal year ending May 2027 and expects to post a net loss of ¥3.65 billion. The malfunction affecting a small satellite has delayed its business plans and resulted in contract cancellations, while an impairment loss will be recorded as an extraordinary loss.
Axelspace Holdings Corporation, listed on the TSE Growth market, revised down its consolidated full-year forecast for the fiscal year ending May 2027. It expects revenue to decline from its previous forecast and projects a net loss of ¥3.65 billion.
Under the new forecast, revenue is expected to be ¥6.7 billion, operating loss ¥2.3 billion and net loss ¥3.65 billion, all worse than the previous forecast. Results for the previous fiscal year were revenue of ¥2.508 billion, an operating loss of ¥3.822 billion and a net loss of ¥4.057 billion.
The company cited delays to its business plans resulting from a communications-system malfunction involving the GRUS-3 small satellite, as well as the receipt of written notice terminating a contract for an on-orbit demonstration service for which a contract had already been signed. It also expects to record an extraordinary loss of ¥1.879 billion as an impairment loss on fixed assets relating to 4 malfunctioning small satellites.
The document contains no specific discussion of future developments, and lists the key points of the revised disclosure and the impact of the malfunction.