Announcement • Jul 27
Axelspace Corporation Terminates Commercial Operations Of Microsatellite GRUS-1E Axelspace Holdings Corporation announced that a malfunction occurred in the attitude control system of the microsatellite 'GRUS-1E,' which was launched on March 22, 2021 and is operated by Axelspace Corporation, a consolidated subsidiary of the company. As the company determined that maintaining stable service operations is no longer feasible, the company decided to terminate the commercial operations of the 'GRUS-1E'. On the night of July 18, 2026, a malfunction occurred in the attitude control system of 'GRUS-1E.' Axelspace Corporation conducted investigations to identify the cause while simultaneously attempting system restoration. The investigation confirmed that the reaction wheels used for attitude control had failed, making it extremely difficult to restore three-axis attitude control. The 'GRUS-1' series was originally equipped with four reaction wheels and designed with redundancy to continue operations in the event of a single wheel failure. However, telemetry data indicates that two of the four reaction wheels likely failed. Consequently, the company determined that it is no longer feasible to continue stable commercial operations and decided to terminate commercial operations for 'GRUS-1E.' The company will now proceed with the decommissioning process. Regarding 'GRUS-1E,' an impairment loss was already recognized in the fiscal year ended May 2024; therefore, no extraordinary loss will be recorded in connection with this matter. Among the five-satellite constellation operating under the AxelGlobe business, the remaining four satellites (excluding 'GRUS-1E') are operating normally and continue to provide imagery data. The impact of this incident on financial results and position is considered immaterial, and there is no change to consolidated financial forecasts for the fiscal year ended May 2027, which were announced on July 14, 2026. Additionally, there are currently no changes to satellite manufacturing and launch plans. Should any further disclosable matters arise, updates will be provided. Announcement • Jul 25
Axelspace Holdings Corporation Announces Retirement of Makiko Hamada as Director, Effective August 26, 2026 Axelspace Holdings Corporation announced that Makiko Hamada is scheduled to retire as Director upon the conclusion of the 7th Annual General Meeting of Shareholders to be held on August 26, 2026, due to the expiration of her term of office. Announcement • Jul 15
Axelspace Holdings Corporation, Annual General Meeting, Aug 26, 2026 Axelspace Holdings Corporation, Annual General Meeting, Aug 26, 2026. Announcement • Jul 08
Axelspace Corporation Launches Seven Grus-3 Earth Observation Microsatellites and Receives First Signals Axelspace Corporation announced that the seven GRUS-3 next-generation Earth observation microsatellites were successfully launched and that the first radio signals were successfully received. GRUS-3 was integrated via Exolaunch and launched aboard a SpaceX Falcon 9 rocket from Vandenberg Space Force Base in California, USA, on July 7, 2026 at 07:12 (UTC) during the Transporter-17 rideshare mission. The satellites were successfully put into their intended orbit. Axelspace received the first radio signals from all the seven satellites in orbit. The satellites are currently operating normally. Axelspace is working toward completing the critical operation of the GRUS-3 microsatellite to ensure proper functioning in orbit, in preparation for future services based on Earth observation data acquired by them. The development of a versatile satellite bus system for GRUS-3 is based on results obtained through the following projects subsidized by NEDO (New Energy and Industrial Technology Development Organization): “Development and Demonstration of General-Purpose CubeSat and Microsatellite Buses” (Fiscal Year 2023-2026) *This project was supported by the Ministry of Economy, Trade and Industry (Fiscal Year 2021-2022). Announcement • Jun 16
Axelspace Holdings Corporation Announces Relocation of Development Center in Tokyo Axelspace Holdings Corporation announced that its Board of Directors resolved at a meeting held June 16, 2026 to relocate the development center as described below. Axelspace Holdings Corporation announced the new address as Shinkiba, Koto-ku, Tokyo, Japan. Axelspace Holdings Corporation announced the relocation schedule as mid-October 2026 (planned). Axelspace Holdings Corporation announced that at the development center, environmental testing functions that have previously been conducted at separate locations will be consolidated. Axelspace Holdings Corporation announced that by integrating design, manufacturing, and testing operations within a single site, the Axelspace Group aims to accelerate satellite development cycles and enhance quality consistency for mass production in collaboration with its manufacturing partners, thereby establishing a framework for the continuous delivery of highly competitive satellites. Axelspace Holdings Corporation announced that by providing optimal environments tailored to the respective functions of the headquarters and development and manufacturing operations, the Group aims to create a workplace where diverse talent can thrive and maximize their potential. Axelspace Holdings Corporation announced that as a group committed to contributing to the development of the space industry, the Group will continue to strengthen its business foundation and pursue sustainable growth. Announcement • May 20
Axelspace Corporation Announces Launch Of Seven Grus-3 Earth Observation Microsatellites Axelspace Corporation, a developer and operator of microsatellites dedicated to realizing its vision of “Space within Your Reach,” announced that GRUS-3, a set of seven next-generation Earth observation microsatellites, is scheduled to be launched no earlier than July 2026. The seven GRUS-3 microsatellites will launch aboard the Transporter-17 rideshare mission via Exolaunch, a global leader in launch mission management, satellite integration, and deployment services, from Vandenberg Space Force Base in California, USA. We currently operate five optical Earth observation microsatellites, GRUS-1, under our Earth observation data service, AxelGlobe. With the launch of its successor, GRUS-3, it will expand its satellite constellation to more than 10 satellites. GRUS-3 will capture images of the Earth’s surface at the same location once per day for locations north of 25 degrees latitude from an orbit at an altitude of 585 km. It features a spatial resolution (GSD) of 2.2 meters, with each satellite having an effective swath of 28.3 km and a maximum capture length of 1,356 km. A combined daily capture capacity is 2,300,000 km² across seven satellites. GRUS-3 is newly equipped with the “coastal blue” spectral band, which is effective for capturing information beneath the water surface. In addition to acquiring true color imagery and data for analyzing vegetation health, as with GRUS-1, GRUS-3 can also observe shallow coastal features such as seabed topography and seagrass beds. By combining the enhanced observation frequency and performance of GRUS-3 with its satellite attitude control technology—enabling tasking (on-demand imaging of designated areas)—we will meet growing demand across a wide range of fields, environment and security, in addition to precision agriculture, forest monitoring, and map creation. Announcement • May 09
Axelspace Holdings Corporation to Report Fiscal Year 2026 Results on Jul 14, 2026 Axelspace Holdings Corporation announced that they will report fiscal year 2026 results on Jul 14, 2026 Announcement • Apr 16
Axelspace Holdings Corporation Reports Impairment Loss on Fixed Assets for the Third Quarter of the Fiscal Year Ending May 2026 Axelspace Holdings Corporation reported an impairment loss on fixed assets for the third quarter of the fiscal year ending May 2026. For the period, the company reported an impairment loss of JPY 37 million. Announcement • Apr 15
Axelspace Holdings Corporation Revises Consolidated Earnings Guidance for the Fiscal Year Ending May 31, 2026 Axelspace Holdings Corporation revised consolidated earnings guidance for the fiscal year ending May 31, 2026. For the period, the company now expects Revenue to be JPY 2,500 million, Operating loss to be JPY 3,800 million, Net Loss Attributable to Owners of Parent to be JPY 4,000 million and Net Loss per Share to be JPY 64.97 per share against previous guidance of Revenue to be JPY 3,646 million, Operating loss to be JPY 3,999 million, Net Loss Attributable to Owners of Parent to be JPY 3,879 million and Net Loss per Share to be JPY 63.04 per share Regarding revenue, the forecast has been revised downward from the previous forecast. This revision is primarily due to a decrease in the revenue forecast resulting from reduced cost of sales in major projects within the AxelLiner Business, delays in contract formation timing at "AxelLiner Laboratory" (hereinafter referred to as "AL Lab"), and the cancellation of certain overseas projects in the AxelGlobe Business. For the commissioned research and development project from the New Energy and Industrial Technology Development Organization (NEDO), which is a key project in the AxelLiner Business, revenue is recognized based on the progress toward satisfaction of performance obligations using the cost-to-cost method. In this project, some high-cost components originally scheduled for delivery in the fiscal year ending May 2026 (current fiscal year) are now expected to be delivered in the fiscal year ending May 2027 (next fiscal year). As a result, the cost of sales is expected to decrease, leading to a reduction in the revenue forecast. However, since this change is due to a shift in delivery timing and does not affect the total contract value, revenue is expected to largely recover in the next fiscal year. In addition, within AL Lab of the AxelLiner Business, some projects that were expected to be formed and contracted in the current fiscal year are now anticipated to be postponed to the next fiscal year or later, resulting in a decrease in the revenue forecast. There is no change to the currently announced launch schedule for the AxelLiner Business. In the AxelGlobe Business, while domestic operations are progressing as expected--such as the commencement of the Ministry of Defense's "Satellite Constellation Project"--and are projected to exceed initial forecasts, the cancellation of certain overseas projects has led to a decrease in the overall revenue forecast. Reported Earnings • Apr 15
Third quarter 2026 earnings released: JP¥18.80 loss per share (vs JP¥20.37 loss in 3Q 2025) Third quarter 2026 results: JP¥18.80 loss per share. Revenue: JP¥403.0m (up 14% from 3Q 2025). Net loss: JP¥1.24b (loss widened 41% from 3Q 2025). Revenue is forecast to grow 43% p.a. on average during the next 3 years, compared to a 39% growth forecast for the Aerospace & Defense industry in Japan. Announcement • Apr 07
Axelspace Holdings Corporation to Report Q3, 2026 Results on Apr 14, 2026 Axelspace Holdings Corporation announced that they will report Q3, 2026 results on Apr 14, 2026 Announcement • Jan 16
Axelspace Holdings Corporation Announces Impairment Charges for the Second Quarter of the Fiscal Year Ending May 2026 Axelspace Holdings Corporation announced that at the Board of Directors meeting held on January 14, 2026, it was resolved to recognize an impairment loss on fixed assets (extraordinary loss) in the second quarter of the fiscal year ending May 2026, as detailed below. Details of Impairment Loss on Fixed Assets (Extraordinary Loss): Based on the "Accounting Standard for Impairment of Fixed Assets," the Company has carefully examined the future recoverability of its fixed assets, and in light of expected operating losses from upfront investments, has decided to recognize an impairment loss of ¥23 million. The principal breakdown of the impairment loss is ¥21 million in the "AxelLiner Business" segment. Reported Earnings • Jan 15
Second quarter 2026 earnings released: JP¥12.00 loss per share (vs JP¥20.37 loss in 2Q 2025) Second quarter 2026 results: JP¥12.00 loss per share (improved from JP¥20.37 loss in 2Q 2025). Revenue: JP¥256.0m (down 27% from 2Q 2025). Net loss: JP¥793.0m (loss narrowed 10% from 2Q 2025). Announcement • Nov 07
Axelspace Holdings Corporation to Report Q2, 2026 Results on Jan 14, 2026 Axelspace Holdings Corporation announced that they will report Q2, 2026 results on Jan 14, 2026 Reported Earnings • Oct 16
First quarter 2026 earnings released First quarter 2026 results: JP¥29.96 loss per share. Net loss: JP¥1.42b (flat on 1Q 2025). Reported Earnings • Sep 02
Full year 2025 earnings released: JP¥44.94 loss per share (vs JP¥85.71 loss in FY 2024) Full year 2025 results: JP¥44.94 loss per share (improved from JP¥85.71 loss in FY 2024). Revenue: JP¥1.59b (down 25% from FY 2024). Net loss: JP¥1.95b (loss narrowed 39% from FY 2024). Announcement • Aug 26
Axelspace Holdings Corporation to Report Q1, 2026 Results on Oct 15, 2025 Axelspace Holdings Corporation announced that they will report Q1, 2026 results on Oct 15, 2025 Board Change • Aug 12
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 4 experienced directors. No highly experienced directors. Auditor Kenichi Shimomura is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 
