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Axelspace Holdings Widens FY Net Loss Forecast to ¥3.65 Billion on Satellite Failure

Tue, Oct 06, 2026 17:00 JST Axelspace Holdings (4020.T) Space technology 中文

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.

Net loss forecast (revised)¥3.65 billion
Impairment loss (extraordinary)¥1.879 billion
Revenue forecast (revised)¥6.7 billion
Loss per share forecast (revised)¥54.72

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:

ItemPrevious forecastRevised 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.


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