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ispace, inc

Nihonbashi Honcho M-SQUARE 6F, 1-9-3, Nihonbashi Honcho, Chuo-ku, Tokyo Japan

103-0023

ispace U.S.

Colorado 12876 E Adam Aircraft Circle, Centennial,
CO 80112, United States
Denver, US

ispace Europe

5 Rue de l’Industrie 1811,
Luxembourg

ispace and SKY Perfect Sign MOU to Advance Commercial Communications Infrastructure for Japan’s Lunar Exploration Missions

TOKYO—July 16, 2026—ispace, inc. (ispace) (TOKYO: 9348), a global lunar exploration company, and SKY Perfect JSAT Corporation (SKY Perfect JSAT) have signed a memorandum of understanding (MOU) to jointly evaluate the use of SKY Perfect JSAT’s commercial near-Earth tracking network service, “JSAT Space Line”.

Under the MoU, the companies will exchange technical information and conduct system compatibility studies with the aim of establishing communications between JSAT Space Line ground stations and ULTRA, ispace’s next-generation lunar lander planned for Mission 3, currently planned for launch in 2028. The collaboration will also explore the feasibility of demonstration activities between the spacecraft and ground stations.

A computer-generated image of ispace’s ULTRA lunar lander.

Establishing stable, flexible, and resilient communications framework is a critical element of lunar mission operations. As lunar exploration activities continue to accelerate in the years ahead, ispace is seeking to expand its options for ground station services and mission support capabilities.

As part of this effort, ispace will explore the feasibility of leveraging JSAT Space Line’s ground station infrastructure to support communications for future lunar exploration missions. The study will also examine the potential use of the service as a backup to the European Space Operations Centre (ESOC) ground station network operated by the European Space Agency (ESA). By enhancing redundancy across key communications systems, including X-band downlinks, ispace aims to help establish a more reliable and resilient communications architecture for sustained lunar exploration activities.

The ground station infrastructure of JSAT Space Line has previously been utilized for signal measurements activities associated with Artemis II, NASA’s crewed lunar flyby mission, demonstrating its proven capability to support lunar exploration mission. As the only commercial company in Asia selected to support NASA’s Artemis II mission, and with proven experience in receiving signals from not only near-Earth space but also the broader cislunar domain, SKY Perfect JSAT will leverage this expertise to support Mission 3.

JSAT Space Line
(Left) Ground station facility (photo shown: Ibaraki Station)
(Right) JSAT Space Line operations center

Through this demonstration, the two companies will evaluate the demand for and value of domestic ground station services for lunar exploration missions, while working to build a communications infrastructure that will support Japan’s future lunar exploration activities. Through these efforts, they aim to contribute to the development of next-generation deep space communications infrastructure.

Statement of Takeshi Hakamada, Founder & CEO of ispace, inc.

“Communications infrastructure is one of the most critical elements of lunar exploration missions. Looking ahead to future missions, we believe it is essential to secure connectivity with multiple ground station service providers and establish an operational framework that is both flexible and highly resilient,” said Takeshi Hakamada, Founder & CEO of ispace. “Our collaboration with SKY Perfect JSAT toward Mission 3 is significant not only in validating the technical effectiveness of JSAT Space Line, but also in expanding the potential use of commercial ground station infrastructure in Japan for lunar exploration missions. We will continue advancing this collaboration as an initiative that contributes not only to future lunar exploration activities but also to strengthening the foundation of Japan’s space industry.”

Statement of Teruo Yamashita, Board Director, Managing Executive Officer of Unit President, Space Business Unit of SKY Perfect JSAT

“As space activities, including lunar exploration, continue to accelerate, we believe that the need for highly reliable communications infrastructure will only continue to grow. This initiative represents an important opportunity to evaluate the applicability of JSAT Space Line to lunar exploration missions. By collaborating with ispace, which is advancing lunar exploration missions, we also expect this effort to further expand the role that commercial communications infrastructure can play in supporting deep space activities. Building on the knowledge and ground station operational experience we have gained through its support for NASA’s Artemis II mission and other space communications initiatives, SKY Perfect JSAT will continue to support ispace’s mission 3, while contributing to the development of Japan’s deep space communications infrastructure.”

# # #

About ispace, inc. (https://ispace-inc.com)

ispace, a global lunar resource development company with the vision, “Expand our planet. Expand our future.”, specializes in designing and building lunar landers and rovers. ispace aims to extend the sphere of human life into space and create a sustainable world by providing high-frequency, low-cost transportation services to the Moon. The company has business entities in Japan, Luxembourg, and the United States with more than 300 employees worldwide. For more information, visit: www.ispace-inc.com and follow us on X: @ispace_inc.

About SKY Perfect JSAT (https://www.skyperfectjsat.space/en)

Positioning itself as “Space Business Pioneers”, SKY Perfect JSAT operates two core businesses: Space and Media. In its Space Business, the company provides satellite communications services through its geostationary satellite fleet while expanding into new domains, including Earth observation data services through its own low Earth orbit (LEO) satellite constellation and solutions for national security and other mission-critical applications. In its Media Business, SKY Perfect JSAT operates the “SKY PerfecTV!” multi-channel pay TV platform, media solutions services, optical alliance businesses including fiber retransmission services, and global IP businesses. In April 2026, SKY Perfect JSAT integrated its holding company and operating company structure, accelerating its efforts to create new value and drive further growth as an integrated space and media company.

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20260716 JSAT MOU

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ispace-U.S. Update on Contract with Draper   

DENVER—July 15, 2026—ispace technologies U.S., (ispace-U.S.) an American lunar exploration company and subsidiary of ispace, inc. (ispace) (TOKYO: 9348), and Draper, a non-profit research, development and manufacturing company, today announced that Draper has mutually agreed with NASA to end the Commercial Lunar Payload Services (CLPS) task order CP-12.

Since July 2022, ispace-U.S. served as a subcontractor to Draper to provide a lunar lander transportation service for NASA’s CLPS task order CP-12. Following the agreement with NASA on the primary contract, Draper and ispace-U.S. expects the mutual termination of the subcontract between the two companies.

In April 2026, NASA announced its plan to launch the next Commercial Lunar Payload Services program (CLPS 2.0). Under the new framework, NASA is expected to increase the task order award cadence, resulting in more frequent lunar landings. ispace-U.S. plans to collaborate with NASA and propose to the CLPS 2.0 requirements, continuing to pursue its mission and the growth of the lunar economy.

ispace and ispace-U.S. are developing lunar landers and lunar infrastructure with a vision to create the cislunar economy. ispace was the first commercial company to launch a fully privately funded mission to the Moon in December 2022. The company is now manufacturing and assembling its next generation ULTRA lunar lander to support future missions for government and private customers. Its next lunar landing mission is scheduled for 2028.

Statement of Elizabeth Kryst, CEO of ispace-U.S.

“ispace-U.S. remains dedicated to providing high-quality, high-frequency and low-cost transportation services to the lunar surface for the American market. The company’s spaceflight heritage and Colorado-based assembly, integration and testing position us uniquely to meet the needs of our customers. This reflects a long-term strategy to engage with U.S. government, industry and commercial partners across the lunar exploration ecosystem to provide best in class services,” said Elizbeth Kryst, CEO of ispace-U.S.

136 KB PDF

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ispace Accelerates Growth in the “Lunar Infrastructure Market”

ispace secures payload capacity on SpaceX’s Starship scheduled for launch as early as 2030

TOKYO—July 8, 2026—ispace, inc. (ispace) (TOKYO: 9348), a global lunar exploration company, today announced that it will commence a new service, providing a lunar transportation service that will launch aboard SpaceX’s Starship spacecraft. This will be in addition to ispace’s existing lunar transportation services utilizing its ULTRA lunar landers. As the world returns its attention to the Moon and enters a new era of lunar exploration, ispace is evolving to become a “Lunar Access Integrator,” capable of providing unified services for the “integration, transportation and operation” of lunar payloads.

In preparation for the new business offering, ispace has secured 500 kilograms of payload capacity on Starship, scheduled for launch as early as 2030. ispace is offering global customers with relatively small payload delivery needs, weighing 500 kilograms or less, a comprehensive service to integrate, transport and operate their payloads on the Moon.

A visual explaining the end-to-end services provided by ispace as a “Lunar Access Integrator” (illustration)

As part of the integration process, ispace will assess each customer’s payload requirements and implement the quality control necessary for lunar transportation. ispace will then integrate multiple payloads into the dedicated “Mobile Cargo System” in development by the company and provide services, including interface coordination with Starship as part of the system. Upon landing on the Moon, ispace aims to provide operational support through the “Mobile Cargo System” to ensure the smooth deployment of payloads onto the lunar surface, their movement across the lunar surface, and access to other infrastructure.

Through the service and capturing the spirit of its motto “We Go Beyond,” ispace will go beyond transporting payloads to the Moon, evolving its business model into a “Lunar Access Integrator.” The company will connect Earth and the lunar surface end-to-end and offer a comprehensive package that includes the “integration, transportation and operation” of customer payloads. As the mission cadence and demand increases, ispace will proactively explore the utilization of the “Mobile Cargo System” to accommodate multiple units, expand capacity to handle ton-class customer payloads exceeding 500 kg, and enable lunar surface transportation over longer distances from lunar landing sites.

Since becoming the first Japanese space start-up to sign a contract for a Falcon 9 launch in 2018, ispace has now signed a total of three launches to date. ispace’s HAKUTO-R Mission 1 and Mission 2 launched aboard Falcon 9 rockets in 2022 and 2025.

With key business and manufacturing hubs in Japan, the U.S., and Europe, ispace recently established an entity in the Kingdom of Saudi Arabia and has formed a global customer acquisition team spanning multiple continents, separating it from competitors as a unique global company with reach around the world. The launch provides an opportunity for customers with payloads under 500kg to work with ispace and SpaceX for access to the lunar surface.

The emergence of rockets with the capability of transporting large-scale payloads to the Moon is expected to accelerate deployment of lunar infrastructure, including power, communications, construction, data, and mobility. The establishment of this core infrastructure on the lunar surface will reduce barriers hindering subsequent infrastructure projects, leading to a rapid expansion in the transport of relatively small lunar payloads for purposes such as technology validation, exploration, and business development.

ispace is currently developing and preparing for three lunar landing missions in 2028, 2029, and 2030, respectively, using the ispace-developed ULTRA Lander. Today’s announcement involves an expansion of the company’s business portfolio beyond the ULTRA Lander to include lunar transport services utilizing ispace’s “Mobile Cargo System” aboard SpaceX’s Starship. This will enable the company to broadly address the expected global growth in demand for lunar payloads.

While transport via Starship and the “Mobile Cargo System” enables high-capacity shipments and relatively low cost, transport via the ULTRA Lander enables high-value-added, tailored solutions to specific customer requirements, such as timing, location, environment, and other characteristics. By combining ULTRA’s customized transport with Starship’s high-capacity transport to offer the optimal solution for each customer, ispace aims to stimulate latent demand for small lunar payloads and drive an accelerated increase in that demand.

Statement of Takeshi Hakamada, Founder & CEO of ispace, inc.
“We are very pleased to be able to offer the new Lunar Access Integration service utilizing Starship’s payload space through our collaboration with SpaceX. High-capacity, relatively low-cost lunar transport, such as that provided by Starship, is essential to realizing the sustainable lunar economy that ispace aims to create,” said Takeshi Hakamda, Founder & CEO of ispace. “As a ‘Lunar Access Integrator,’ ispace aims to combine high-value-added lunar transport using its own landers with high-capacity transport opportunities utilizing Starship, serving as a gateway for customers around the world to access the Moon and carry out their missions.”

Statement of Stephanie Bednarek, Vice President of Commercial Sales, SpaceX
“Having previously flown multiple ispace missions to the Moon aboard Falcon 9, we’re excited to expand this relationship to Starship. Their integration services provide a valuable pathway for smaller payloads to secure a ride to the Moon today, and we look forward to supporting ispace and their customers as they help expand access the lunar surface.”

About ispace, inc. (https://ispace-inc.com)
ispace, a global lunar resource development company with the vision, “Expand our planet. Expand our future.”, specializes in designing and building lunar landers and rovers. ispace aims to extend the sphere of human life into space and create a sustainable world by providing high-frequency, low-cost transportation services to the Moon. The company has business entities in Japan, Luxembourg, and the United States with more than 300 employees worldwide. For more information, visit: www.ispace-inc.com and follow us on X: @ispace_inc.

2 MB PDF

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ispace Announces Reappointment of Board Members

TOKYO—June 26, 2026—ispace, inc. (ispace) (TOKYO: 9348), a global lunar exploration company, today announced that 7 members of its Board of Directors and two auditors were reappointed at the 16th Ordinary General Meeting of Shareholders held on June 26, 2026. In addition, Founder & CEO Takeshi Hakamada was reappointed as Representative Director at the Board of Directors meeting held later in the day.

An image of ispace’s Board of Directors.

Reappointed members of the Board of Directors are:

Representative DirectorTakeshi Hakamada, Founder & CEO
DirectorJumpei Nozaki, CFO & Executive Business Director
External DirectorTohru Akaura, General Partner & Co-Founder, Incubate Fund KK
External DirectorKoichi Kawana, Director, Chairman, RENOVA, Inc.
External DirectorKazuko Nakada, Representative Director, actuali inc.
External DirectorKojiro Hatada, President and CEO, Innovative Space Carrier Inc.
External DirectorTakashi Makino, Executive Director, IHI Corporation

Two individuals were reappointed to auditor positions.

Full Time AuditorYuji Inoue, ispace, inc.
External AuditorYoshihide Todoroki, Representative Director, Todoroki Certified Public Accountants

In addition, Ayasa Naito, Tanabe General Law Office, will continue to serve as an external auditor and Shinichiro Mori, Mori & Partners Law Office, will serve as an alternate external auditor.

Statement of Takeshi Hakamada, Founder & CEO of ispace, inc.
“Having been reappointed as CEO at this shareholders’ meeting, I am acutely aware of the weight of my responsibilities. In 2026, the space industry is experiencing a very strong forward momentum. In addition to the bold lunar landing mission policy announced by NASA at its Ignition event in March, concrete plans for lunar activities are also progressing in Japan through the Basic Plan on Space Policy and the Space Strategy Fund. As we enter an era of high-frequency lunar transportation infrastructure, our management team and employees will work together with a singular drive to create innovative value and achieve sustainable growth. We will move forward to meet the expectations of all our stakeholders, including our shareholders. We thank you and ask for your continued support.”

About ispace, inc. (https://ispace-inc.com)
ispace, a global lunar resource development company with the vision, “Expand our planet. Expand our future.”, specializes in designing and building lunar landers and rovers. ispace aims to extend the sphere of human life into space and create a sustainable world by providing high-frequency, low-cost transportation services to the Moon. The company has business entities in Japan, Luxembourg, and the United States with approximately 300 employees worldwide. For more information, visit: www.ispace-inc.com and follow us on X: @ispace_inc.

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ispace-U.S. Announces New Executive Vice President of Business Development

Bretton Alexander Brings Deep Space Ties and Extensive Industry Network

DENVER—June 2, 2026— ispace-U.S., a subsidiary of ispace, inc. (ispace) (TOKYO: 9348), a global lunar exploration company, today announced Bretton Alexander will join ispace-U.S. as its new Executive Vice President of Business Development, bringing his deep ties to the space industry and an established network to the company’s U.S. entity.

Bretton Alexander, Executive Vice President of Business Development with Elizabeth Kryst, CEO of ispace-U.S.

With a more than 30-year career in the space industry, Mr. Alexander brings extensive experience to ispace-U.S. He held positions at Blue Origin in key business and government sales roles, Firefly Aerospace as Chief Revenue Officer and as President of the Commercial Spaceflight Federation.

Prior to that, Mr. Alexander also served in government as a senior policy analyst at the White House Office of Science and Technology Policy, serving under Presidents Bill Clinton and George W. Bush. He also served in advisory roles to both NASA and the FAA and was the Executive Director for the Google Lunar X PRIZE. He holds a Bachelor and Master of Science in Aerospace Engineering from the University of Virginia.

ispace-U.S. is an American lunar exploration company based in Englewood, Colo. The company provides transportation services to the lunar surface and lunar orbit as well as infrastructure capabilities for government, academic, and commercial customers.

With NASA’s recent announcement of IGNITION and its plans to develop a Moon Base as a central component of the agency’s Artemis program, ispace-U.S. is positioning itself to acquire future Commercial Lunar Payload Service (CLPS) task orders from NASA as well as private payload service contracts to support the operations near the lunar South Pole. Based on its proven spaceflight heritage; extensive mission control operations; and assembly, integration, and testing (AIT) experience, ispace and ispace-U.S. intend to lead the development of a vibrant cislunar economy that connects the Earth and the Moon.

Statement of Elizabeth Kryst, CEO of ispace-U.S.

“I am very excited to welcome Brett Alexander to ispace-U.S. and look forward to the leadership that he will provide our business development teams. Brett’s track record and experience in the space industry and specifically his focus on lunar exploration make him uniquely qualified to deliver world class lunar payload acquisitions and customer service for any organization going to the Moon,” said Elizabeth Kryst, CEO of ispace-U.S. 

Statement of Bretton Alexander, Executive Vice President, Business Development, ispace-U.S.

“As the world just witnessed with Artemis II, the Moon is within our reach. I’m thrilled to bring customer focus to ispace, a company whose vision, talent, and accomplishments are helping power the emerging cislunar economy.”

About ispace-U.S.

ispace-U.S. is an American lunar exploration company providing transportation and infrastructure capabilities from Earth to lunar orbit and the surface of the Moon for government and commercial customers. ispace believes that the utilization of lunar resources is the catalyst for enabling human permanence and economic opportunity on and around the Moon and is committed to achieving this goal.

For more information, follow us on LinkedIn and X: @ispace_us_inc

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Asian Legal Business Selects ispace as a Finalist for “Japan Law Awards 2026”

A first for ispace’s Legal Team & Japanese Space Start-ups

TOKYO—May 28, 2026—ispace, inc. (ispace) (TOKYO: 9348), a global lunar exploration company, today announced that it was selected as a finalist in the “Technology, Media and Telecommunications In-House Team of the Year” category at the “JAPAN LAW AWARDS 2026” organized by “Asian Legal Business (ALB),” operated by the Thomson Reuters Group.

The awards recognize corporate legal departments and law firms with outstanding achievements in Japan and enjoys a high profile within the legal industry both domestically and internationally. Notably, ispace is the first Japanese space startup to be selected as a finalist for this award.

As part of the selection, ispace’s Legal and Compliance Department was recognized for strengthening its global collaboration framework and successfully concluding numerous complex contracts, including multiple payload service agreements. Specifically, the legal team strengthened the company’s global export control systems and advanced its multinational collaboration framework to manage and utilize sensitive aerospace information and advanced technologies while complying with the law.

ispace’s legal and compliance function plays a critical role in supporting the organization’s business growth while maintaining compliance with various national regulations, guiding multinational technical collaboration, and executing global commercial contracts. ispace’s legal team is a small and relatively new, but the global team has worked closely together to adapt to requirements of the evolving space industry. The selection recognizes the team’s efforts and achievements.

Statement of Ryota Kaneko, General Counsel, ispace, inc.

“We are deeply honored to have been selected as a finalist for the internationally prestigious ALB Japan Award 2026. While the space industry is seeing accelerated technological innovation and international collaboration, it is also an area that requires appropriate legal regulations and export controls. Encouraged by this selection and guided by our long-standing principle of ‘being an enabler of business,’ our global team will continue to work together to support the sustainable development of the space industry and the realization of ispace’s mission.”


About ispace, inc. (https://ispace-inc.com)

ispace, a global lunar resource development company with the vision, “Expand our planet. Expand our future.”, specializes in designing and building lunar landers and rovers. ispace aims to extend the sphere of human life into space and create a sustainable world by providing high-frequency, low-cost transportation services to the Moon. The company has business entities in Japan, Luxembourg, and the United States with more than 300 employees worldwide. For more information, visit: www.ispace-inc.com and follow us on X: @ispace_inc.

78 KB · ENGLISH PDF

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JAL Group Launches “ARGO PROJECT,” the World’s First Lunar Transport Service by an Airline

JALUX and ispace Sign 2028 Payload Service Agreement to Deliver Cultural Artifacts

TOKYO—May 26, 2026—ispace, inc. (ispace) (TOKYO: 9348), a global lunar exploration company, and JALUX Inc. (JALUX), the trading company of Japan Airlines (JAL), today announced that the two companies have signed a payload service agreement (PSA) for ispace’s next lunar landing mission, Mission 3, currently scheduled for 2028.

Under the agreement, Japan Airlines Co., Ltd. (JAL) and JALUX, will begin selling payload transport capacity to private companies and local governments on May 27, 2026, for delivery to the lunar surface.

A concept image of the Möbius Ark, lunar transportation container.  ispace’s ULTRA lunar lander scheduled for Mission 3.

In November 2025, ispace and three JAL Group companies (JAL, JALUX, and JAL Engineering) signed a memorandum of understanding (MOU) to explore collaboration in the fields of lunar transportation and operations. Today’s PSA marks the first step in the concrete implementation of that collaboration. Utilizing the payload transport capacity, the JAL Group is launching the “ARGO PROJECT,” an initiative to pass on Earth’s culture on the Moon for future generations, utilizing ispace lunar landers.

The ARGO Project

Officially named “The ARGO Trans-Lunar Heritage Project,” and embodying the concept of “The Ark Relaying for Generations Onward,” this project is inspired by the constellation Argo Navis, which represents a great sailing ship. It aims to pass on precious cultural heritage and human activities to future generations.

In the rapidly changing world, there is a constant risk that precious cultural artifacts and ways of life could be suddenly lost. The lunar environment offers a location to protect and preserve these valuable cultural assets until the day they are opened by future generations.

JAL and JALUX serve as the project’s two main organizers. JALUX will be responsible for the dedicated lunar transport container, “Möbius Ark,” including soliciting items for inclusion and developing the dedicated container. The transportation container design measures approximately 20 cm × 20 cm × 10 cm, features internal compartments, and uses materials capable of withstanding the lunar environment to protect the contents.

JAL will collaborate with local governments and companies throughout Japan to collect items that reflect modern culture, such as regional specialties and products representative of local businesses. ispace will serve as the transporter of the specialized container carrying the cultural artifacts to the Moon’s surface.

This marks the JAL Group’s first venture of this kind, and the Möbius Ark container will be photographed once it reaches the lunar surface.

For business inquiries, please contact JALUX Inc., Space Business Team at sbiz@jalux.com.

Building on more than 70 years of history in air transportation, the JAL Group is supporting the development of a new transportation network to the Moon. Together with partner companies and local governments, the goal is a society where space transportation becomes more accessible through missions like this to pass on culture to future generations.

# # #

About JALUX Inc. (https://www.jalux.com/en/profile/)

JALUX is a trading company within the JAL Group that operates a wide range of businesses, including aviation and airports, lifestyle services, retail, and food.

In addition to strengths in the aviation and airport sectors—such as the aircraft parts business and overseas airport operations—JALUX is actively engaged in a wide range of businesses closely tied to people’s daily lives. Driven by a spirit of innovation, JALUX is also expanding into next-generation frontiers, including the rapidly growing space industry, continuously creating new value for a changing world.

About ispace, inc. (https://ispace-inc.com)

ispace, a global lunar resource development company with the vision, “Expand our planet. Expand our future.”, specializes in designing and building lunar landers and rovers. ispace aims to extend the sphere of human life into space and create a sustainable world by providing high-frequency, low-cost transportation services to the Moon. The company has business entities in Japan, Luxembourg, and the United States with more than 300 employees worldwide. For more information, visit: www.ispace-inc.com and follow us on X: @ispace_inc.

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ispace Reports Full Year Financial Results for the Fiscal Year Ending March 2026

With lunar transportation evolving from one-off experiments to an era of high-frequency infrastructure, ispace aims to further enhance mission quality and development efficiency with the new lander “ULTRA” while strengthening a competitive advantage

TOKYO—May 15, 2026—ispace, inc. (ispace) (TOKYO: 9348), a global lunar exploration company, today announced its full year financial results for the fiscal year ending March 2026.

The fiscal year ending March 2026 included two distinct halves, the first half marked by the “Challenge of Mission 2.” While a soft lunar landing was not achieved, after action reviews were able to clearly identify the challenges facing the lander and gain new insights and experience. The second half of the fiscal year was a year of “laying the groundwork for our next leap forward” for the company, marked by the completion of a third-party allotment and public offering raising approximately 18 billion yen, selection for the second phase of the Space Strategy Fund and securing funding from the European Space Agency (ESA), the announcement of the new “ULTRA” model resulting from the integration of the Japanese and U.S. landers, and the rescheduling of ispace-U.S.’ first mission.

During the fiscal year, government-led lunar policies made significant progress both domestically and internationally. At the “IGNITION” event hosted by NASA at the end of March, a bold plan was announced to carry out 21 lunar landing missions by 2028, with a budget of 10 billion U.S. dollars (approximately 1.5 trillion yen). In Japan as well, efforts to materialize lunar activities were advanced through the Basic Space Plan and the Space Strategy Fund, with lunar transportation shifting from one-off experiments to an era of high-frequency infrastructure development.

On the business front, through proactive and ongoing discussions, payload service agreements were formally signed with South Korea’s UEL and the University of Leicester in the UK. In Japan, a memorandum of understanding was reached with the Shimizu Corp., to build cislunar architecture, centered on exploring the construction of a lunar data center—a key component of future infrastructure. Moving forward, company experts will closely monitor market trends and developments, drive the development of ULTRA, and work to establish lunar landing technology at a commercial level.

On the financial front, the report presents “project revenue”—which combines accounting revenue with grant income included in non-operating income—as a metric reflecting the company’s intrinsic strength. For the fiscal year ending March 2026, while revenue decreased due to development delays in the ispace-U.S. mission, an increase in grant income accompanying the progress of the Japan mission resulted in a year-on-year increase of 18 percent to 5.9 billion yen. For the fiscal year ending March 2027, we project “project revenue” to reach 9 billion yen, a 50 percent year-over-year increase, driven by SBIR grants and funds from the Space Strategy Fund received in conjunction with the development progress of Missions 3 and 4. Furthermore, following last year’s capital increase, cash and deposits as well as net assets remained at stable levels as of the end of March 2026.

Statement of Jumpei Nozaki, CFO & Executive Business Director of ispace

“We view the lander integration, engine changes, and schedule adjustments for the ispace-U.S. mission announced in March as wise management measures that, while entailing short-term challenges, will yield significant long-term benefits. We believe that our new lander, ‘ULTRA,’ will enable us to fully meet the needs of customers seeking high quality and development efficiency, and that it will also contribute to NASA’s efforts to accelerate lunar development through bold investments. We are entering an era where lunar transportation will become high-frequency infrastructure to develop the Moon. Amid this major trend, we will continue to build our business with flexibility and boldness,” said Jumpei Nozaki, CFO & Executive Business Director, ispace, inc.

For details, please refer to the Full Year Financial Results for the Fiscal Year Ending March 2026 [Japanese GAAP] (Consolidated) document released today on ispace’s IR site. Additionally, the financial results presentation materials, recorded financial results briefing, and transcript of the financial results briefing will be available on the site.

IR site: https://ir.ispace-inc.com/jpn/news/

Overview

  1. Financial Results for the Fiscal Year Ending March 2026

Income Statement

  • Project Revenue: 5,890 million yen
    This represents an 18% increase compared to the previous fiscal year, primarily due to an increase in SBIR grant revenue from Mission 3.
  • Net sales: 3,307 million yen
    This represents a 26% decrease compared to the previous fiscal year, primarily due to delays in engine development for Mission 5.
  • Gross profit: -2,853 million yen
    Profit fell short of the forecast due to the recognition of new losses related to the engine change and schedule revisions announced in March 2026, which were reflected in cost of sales. Additionally, the impact of the lander model integration at the U.S. subsidiary is expected to be recorded as a 3.6 billion yen expense in the Q1 financial results for the fiscal year ending March 2027.
  • Net Profit/loss: -8,152 million yen
    Despite the decline in profit, the net loss narrowed compared to the previous fiscal year due to an increase in subsidy revenue.

Full Year Financial Results for the Fiscal Year Ending March 2026

Balance Sheet

  • Cash and Deposits: 29,690 million yen
    Increased compared to the end of the previous fiscal year due to bank borrowings and a capital increase during the period.
  • Total Advance Payments: 9,507 million yen
    Increased compared to the end of the previous fiscal year, primarily due to the procurement of materials for New Mission 3 and New Mission 5.
  • Interest Bearing Debt: 29,443 million yen
    Increased compared to the end of the previous fiscal year due to borrowing in May 2025 (total of 15.0 billion yen).
  • Net Assets: 15,173 million yen
    Increased compared to the end of the previous fiscal year due to a capital increase (18.2 billion yen) carried out in October–November 2025.

Full Year Financial Results for the Fiscal Year Ending March 2026

For the cash flow statement and other financial statements for the fiscal year ending March 2026, please refer to the full-year financial results materials.

  1. Financial Forecast for Fiscal Year Ending March 2027
  • Project Revenue: 9,000 million yen
    For FY 2027/3, project revenue is expected to increase significantly driven by progress in lander development, including SBIR grant for Mission 3 and commencement of SSF for Mission 4. Net Sales are expected to remain at a same level as FY2026/3 driven primarily by Mission 3 and Mission 4.
  • Gross Profit: -6,000 million yen
    Gross profit/loss for FY 2027/3 is expected to decline. The primary reason is that our U.S. entity is expected to recognize an impairment loss related to the integration of the Lander model and engine changes (¥3.6 billion) as COGs in accordance with U.S. GAAP.
  • Operating Profit/Loss: -17,700 million yen
    In addition to an increase in R&D expenses due to the development of the lander for Mission 3, SG&A is expected to increase due to workforce expansion.
  • Net Profit/Loss: -13,000 million yen
    The SBIR grant for Mission 3 and the SSF for Mission 4 are expected to be recognized as non-operating income. Potential foreign exchange gains or losses are not reflected

Full Year Financial Results for the Fiscal Year Ending March 2026

About ispace, inc. (https://ispace-inc.com)

ispace, a global lunar resource development company with the vision, “Expand our planet. Expand our future.”, specializes in designing and building lunar landers and rovers. ispace aims to extend the sphere of human life into space and create a sustainable world by providing high-frequency, low-cost transportation services to the Moon. The company has business entities in Japan, Luxembourg, and the United States with more than 300 employees worldwide. For more information, visit: www.ispace-inc.com and follow us on X: @ispace_inc.

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ispace and University of Leicester Sign Payload Service Agreement for Lunar Raman Spectrometer Mission

TOKYO – May 13, 2026 – ispace, inc. (ispace) (TOKYO: 9348), a global lunar exploration company, and the University of Leicester (UoL) have signed a Payload Service Agreement (PSA) to deliver a Raman spectrometer payload to the lunar surface on a future ispace mission.

The payload is a Raman analytical spectroscopy instrument adapted from the original laser-based spectrometer developed for the ExoMars mission, and will be delivered by the University of Leicester, in collaboration with INTA (Madrid), the University of Aberdeen, RAL Space, and the University of Valladolid. The instrument will analyse the lunar surface to determine its molecular composition and identify resources that could support future human exploration missions. It is designed for integration with commercial small lunar landers and rovers that will explore the Moon’s surface in support of future space resource utilisation.

The Raman Spectrometer project is funded under the UK Space Agency (UKSA) Science and Exploration Bilateral Fund and represents a key step in advancing scientific instrumentation for in-situ lunar analysis.

Under the agreement, ispace will provide payload transportation services through its Japanese entity aboard a future mission using its newly introduced ULTRA lunar lander. The specific mission assignment has not yet been determined.

Building upon the heritage of lunar lander’s used for ispace’s two previous lunar missions, ULTRA is based on the outstanding technologies developed by its entities in Japan and the United States. The larger lander is expected to deliver even higher quality to meet growing customers’ demands in the fast-growing market.

To enable effective surface analysis, the Raman spectrometer must operate in very close proximity to, or in direct contact with, the lunar regolith. To achieve this, ispace and the University of Leicester are jointly developing a deployment mechanism that will allow the instrument to be positioned precisely on the lunar surface, supporting both lander- and rover-based operations.

Collaboration between ispace and the University of Leicester has been ongoing for several years. The partnership began with a Letter of Support in 2022, progressed to an Initial Payload Service Agreement (iPSA) in 2024, and has now advanced to a full Payload Service Agreement. The mission supports broader efforts to characterise lunar materials and enable future utilisation of space resources, contributing to the development of sustainable lunar exploration infrastructure.

Takeshi Hakamada, Founder & CEO of ispace “We are pleased to expand our collaboration with the University of Leicester through this Payload Service Agreement. By combining the University of Leicester’s expertise in Raman spectroscopy with ispace’s lunar transportation and surface mobility capabilities, we are helping lay the groundwork for future missions focused on understanding and utilising lunar resources.”

UK Space Minister Liz Lloyd said: “This agreement between ispace and the University of Leicester is a brilliant example of what UK space science can achieve when world-class academic expertise meets commercial ambition and I’m delighted to see it deepening our cooperation with Japan.

“By analysing the composition of the lunar surface – identifying resources like high value minerals, volatiles and water ice – this mission will lay the groundwork for sustainable lunar exploration, opening up economic opportunities and strengthening the UK’s role in this emerging market.”

Dr. Hannah Lerman, Planetary Group, School of Physics and Astronomy at the University of Leicester (PI of the UKSA Bilaterals programme with ispace)“We are very excited to see our collaboration with ispace progress with this latest agreement. ispace brings a fresh, dynamic approach to developing and launching space missions and we are thrilled to be part of their vision. This is a new model of space exploration that opens up a wide range of possibilities to demonstrate the capabilities of our technology developed at the University of Leicester. With human exploration missions so close to launch, this agreement is an important step in preparing for a future return to the moon.”

# # #

About ispace, inc. (https://ispace-inc.com)

ispace, a global lunar exploration company with the vision, “Expand our planet. Expand our future.”, specializes in designing and building lunar landers and rovers. ispace aims to extend the sphere of human life into space and create a sustainable world by providing high-frequency, low-cost transportation services to the Moon. The company has business entities in Japan, Luxembourg, and the United States with approximately 300 employees worldwide. For more information, visit: www.ispace-inc.com and follow us on X: @ispace_inc.

About the University of Leicester (https://le.ac.uk)

The University of Leicester is led by discovery and innovation – an international centre for excellence renowned for research, teaching and broadening access to higher education. It is among the Top 30 universities in the Times Higher Education (THE)’s Research Excellence Framework (REF) 2021 rankings with 89% of research assessed as world-leading or internationally excellent, with wide-ranging impacts on society, health, culture, and the environment. The University is home to more than 20,000 students and approximately 4,000 staff.

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ispace-EUROPE Welcomes Japanese Minister Yoshimasa Hayashi to Luxembourg Headquarters

  • Visit highlights growing cooperation between Japan and Luxembourg in lunar exploration and advanced space technologies

Luxembourg, May 11, 2026 – ispace-EUROPE S.A. (ispace-EUROPE), the Luxembourg-based subsidiary of ispace, inc. (ispace), welcomed a high-level Japanese delegation led by Minister Yoshimasa Hayashi, Minister for Internal Affairs and Communications of Japan and President of the Japan–Luxembourg Parliamentary Friendship League, to its Luxembourg headquarters on Monday, 4 May 2026.

The visit took place in the framework of the League and highlighted the growing relationship between Japan and Luxembourg in the fields of innovation, advanced technologies, and space exploration.

A photo of Japan’s delegation visiting with ispace executives at ispace-EUROPE facility. From left to right: Mamoru Nomura, Ambassador of Japan to Luxembourg; Kazuhiro Miyamoto, Member of the House of Councillors; Jumpei Nozaki, CFO, and Executive Business Director, ispace; Yoshimasa Hayashi, Minister of Internal Affairs and Communications; Shigeharu Aoyama, Member of the House of Representatives and Deputy Minister of the Environment; Julien-Alexandre Lamamy, CEO of ispace-EUROPE; and Charlotte Nassey, Senior Government Affairs & Policy Lead at ispace-EUROPE.

The delegation included Minister of Internal Affairs and Communications Yoshimasa Hayashi, members from the House of Representatives and the House of Councillors, and officials from the Ministry of Internal Affairs and Communications and the Embassy of Japan in Luxembourg, including H.E. Mr. Mamoru Nomura, Ambassador of Japan to Luxembourg.

The delegation was welcomed by Jumpei Nozaki, Executive Business Director & CFO of ispace, inc., Julien-Alexandre Lamamy, CEO of ispace-EUROPE, and Charlotte Nassey, Senior Government Affairs & Policy Lead at ispace-EUROPE.

During the visit, the delegation received an overview of ispace’s global lunar missions, including presentations on the company’s recently announced Lunar Connect services and the European-led MAGPIE lunar exploration mission.

The delegation also toured the engineering facilities at ispace-EUROPE’s Luxembourg office, where ispace-EUROPE engineers presented the development of the company’s rover systems, including explanations of rover structures, onboard software, and mission operations capabilities.

In the company’s Lunar Yard test facility, members of the delegation observed a live rover demonstration and experienced firsthand the simulated lunar environment used to support rover testing and development activities in Luxembourg.

ispace executives and employees were pleased to welcome the delegation to ispace-EUROPE.

“We were honored to have this valuable opportunity to show our European subsidiary to the delegation led by Minister of Internal Affairs and Communications Hayashi. Significant developments are currently underway in lunar development and satellite infrastructure in lunar orbit, and we hope this visit will help invigorate global cooperation between Japan and Europe,” said Jumpei Nozaki, CFO & Executive Business Director of ispace.

“We were honoured to welcome Minister Hayashi and the distinguished delegation to our Luxembourg headquarters,” said Julien-Alexandre Lamamy, CEO of ispace-EUROPE. “This visit reflects the strong and growing ties between Japan and Luxembourg, and highlights the importance of international collaboration in advancing lunar exploration and space innovation.”

As part of the global ispace group, ispace-EUROPE plays a central role in the development of lunar mobility systems and European lunar exploration initiatives.


About ispace-EUROPE

ispace-EUROPE, a lunar exploration and resource development company based in Luxembourg, focuses on the development of lunar rovers. It is responsible for the first-ever European designed, manufactured, and assembled lunar rover. With its world-class talent, robotics capabilities, and connections to the Luxembourg ecosystem, ispace-EUROPE is uniquely positioned to accelerate the creation of a lunar industry in Europe and serve the needs of the growing institutional and commercial customers.

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