Axelspace Holdings (402A) on Oct. 6 cut its forecast for the year ending May 2027 and now expects a net loss attributable to owners of the parent of ¥3.65 billion, versus ¥240 million previously, as it books a ¥1.879 billion impairment on four GRUS-3 satellites with permanent communication faults.
The Tokyo Growth-listed company revised the forecast for the fiscal year from June 1, 2026 to May 31, 2027, which it had published on July 14, 2026:
| Item | Previous forecast | Revised forecast |
|---|---|---|
| Revenue | ¥9.0 billion | ¥6.7 billion |
| Total revenue (non-GAAP) | ¥10.21 billion | ¥7.91 billion |
| Operating loss | ¥800 million | ¥2.3 billion |
| Ordinary loss | ¥150 million | ¥1.7 billion |
| Net loss attributable to parent | ¥240 million | ¥3.65 billion |
| Loss per share | ¥3.60 | ¥54.72 |
Revenue was cut 25.56% and total revenue 22.53%. Total revenue is a non-GAAP measure that adds subsidy income from government-affiliated bodies to sales.
Four of the seven GRUS-3 small satellites launched by subsidiary Axelspace on July 7 (Japan time) developed faults in their high-speed communication systems. The company said on Sept. 29 that restoring the systems and starting planned commercial operations would be difficult. Further investigation found the fault to be permanent, ruling out the planned commercial operation of the four satellites through image-data downloads over the high-speed link. The company is booking a ¥1.879 billion impairment loss in its AxelGlobe business as an extraordinary loss in the first quarter of the fiscal year.
Axelspace has also received a written notice regarding termination of its in-orbit demonstration service contract with Pale Blue, announced Dec. 16, 2025, and began talks with the company on Oct. 6.
By segment, AxelGlobe revenue is now forecast at ¥4.24 billion, down from ¥6.08 billion, as image delivery is expected to be delayed. AxelLiner revenue was cut to ¥2.46 billion from ¥2.92 billion, with its segment loss widening to ¥1.24 billion from ¥770 million. The company said the revision reflects the maximum impact it can currently estimate.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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