Overview
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Axelspace Holdings Corporation

AxelSpace Holdings operates through its wholly-owned subsidiary, AxelSpace Corporation, in two core business segments: AxelLiner and AxelGlobe. The AxelLiner business provides end-to-end small satellite development, manufacturing, launch arrangement, and in-orbit operation services for external customers, leveraging over 17 years of accumulated expertise in small satellite engineering. The AxelGlobe business operates a proprietary constellation of optical Earth observation satellites (GRUS series), monetizing imagery data through direct sales and value-added analytics solutions targeting agriculture, land management, environmental monitoring, finance, and media sectors.

Market Cap
¥15.3B
US$97.4M
EV
¥16.4B
US$104M
Stock¥229▼-3.78%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
3.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-88.3%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Sep 30, 26GRUS-3 satellites: 4 of 7 units suffer communication failure, commercial operation deemed unfeasible, possible impairment loss
2Oct 1, 26GRUS-3 satellites: 4 of 7 units suffer communication failure, commercial operation deemed unfeasible, possible impairment loss
MC → EV Bridge
15.3BUS$97.4MMarket Cap4.51BUS$28.7M+ Debt3.40BUS$21.7M− Cash0.00BUS$0.00M− Inv. Sec.16.4BUS$104MEV
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Performance & Balance
Revenue 5Y (¥B)
1.31US$8.38M'23/52.11US$13.5M'24/51.59US$10.1M'25/52.51US$16.0M'26/5
EBITDA 5Y (¥B)
-2.18-US$13.9M'24/5-3.82-US$24.3M'26/5
Net Income 5Y (¥B)
-1.34-US$8.56M'23/5-3.17-US$20.2M'24/5-1.95-US$12.4M'25/5-4.06-US$25.9M'26/5
Capital Structure
48%
52%
EquityD/E 1.07xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
'23/55.14US$32.8M0.89US$5.66M'24/5'25/55.82US$37.1M5.27US$33.6M'26/5
Shareholders
Top 10 hold 31.1%
1
Rakuten Securities, Inc. (Joint Account)
4.96%
2
Tomoya NAKAMURA
4.35%
3
Takashi NAGASHIMA
3.39%
4
UntroD Nomura Crossover Impact Fund Investment Limited Partnership
3.20%
5
JPMorgan Securities Japan Co., Ltd.
3.16%
6
SpaceCompass Inc.
2.88%
7
Kepple Liquidity No. 1 Investment Limited Partnership
2.54%
8
SBI Ventures Three LLC
2.24%
9
SMBC Trust Bank Ltd. (Trustee for Specified Money Outside Trust)
2.20%
10
BNYM SA/NV FOR BNYM FOR BNYM GCM CLIENT ACCTS M ILM FE (Standing Proxy: MUFG Bank, Ltd.)
2.17%
Management
8 officers
Tomoya NAKAMURA
Representative Director
Apr 2007 Specially Appointed Researcher, Graduate School of Engineering, The University of Tokyo Aug 2008 Founded Axelspace Corporation; Representative Director (current) Mar 2020 Representative Director, the Company (current) Mar 2026 Director, Axelspace Defense & Intelligence Inc. (current)
1979-12-31
Daigo ORIHARA
Director
Apr 1996 Joined The Sanwa Bank, Ltd. (now MUFG Bank, Ltd.) May 1997 Joined Lucent Technologies Japan Ltd. Jul 2004 Joined UBS Securities Japan Ltd. (now UBS Securities Co., Ltd.) Jul 2008 Joined Industrial Growth Platform, Inc. (IGPI) May 2019 Joined Innofis Inc. Jul 2020 Representative Director and President, Innofis Inc. Apr 2023 Joined the Company Jun 2023 Executive Officer and General Manager, Administration Division, the Company Jun 2023 Executive Officer and General Manager, Administration Division, Axelspace Corporation Aug 2023 Director and General Manager, Administration Division, the Company Aug 2023 Director and General Manager, Administration Division, Axelspace Corporation Mar 2026 Director and General Manager, Sales & Business Development Division and General Manager, Administration Division, Axelspace Corporation Mar 2026 Director, Axelspace Defense & Intelligence Inc. (current) Jun 2026 Director and General Manager, Sales & Business Development Division and General Manager, Corporate Division, Axelspace Corporation Jun 2026 Director and General Manager, Corporate Planning Division and General Manager, Corporate Division, the Company Aug 2026 Director and General Manager, Sales & Business Development Division, Axelspace Corporation (current) Aug 2026 Director and General Manager, Corporate Planning Division, the Company (current)
1972-08-01
Tomihisa KAMATA
Outside Director
Nov 1985 Director, Access Ltd. (now ACCESS Corporation) Feb 2009 Representative Director, President and Co-Chief Executive Officer (Co-CEO), ACCESS Corporation Oct 2009 Representative Director, President and Chief Executive Officer (CEO), ACCESS Corporation Mar 2012 Representative Director, Mynd Inc. Mar 2012 Representative Director, TomyK Ltd. (current) May 2012 Outside Director, Pluto Inc. (now Crossdoor Inc.) Jul 2012 Outside Director, H2L Inc. Oct 2012 Outside Director, SCHAFT Inc. Oct 2013 Outside Director, Genomedia Inc. Jan 2014 Outside Director, AgIC Inc. (now Elephantech Inc.) (current) Jan 2014 Representative Director & President, StartupBooster Inc. May 2014 Outside Director, Axelspace Corporation Jun 2014 Outside Director, Moff Corporation May 2016 Outside Director, Yukai Engineering Inc. May 2017 Outside Director, LPIXEL Inc. Jan 2019 Outside Director, Morpho, Inc. Aug 2019 Outside Director, MinD in a Device Inc. Mar 2020 Outside Director, the Company (current) Mar 2020 Representative Director, LPIXEL Inc. Aug 2021 Representative Director and CEO, LPIXEL Inc. May 2023 Representative Director, President and CEO, LPIXEL Inc. (current)
1961-05-01
Chiaki MUKAI
Outside Director
Apr 1977 Staff Member, Department of Surgery, School of Medicine, Keio University Aug 1985 Payload Specialist (Astronaut), National Space Development Agency of Japan (now Japan Aerospace Exploration Agency) Jun 1987 Research Fellow, Cardiovascular Physiology Laboratory, Space Biomedical Research Office, Johnson Space Center, National Aeronautics and Space Administration (NASA) Oct 2014 Vice Chair, Science Council of Japan Apr 2015 Vice President, Tokyo University of Science Jun 2015 Outside Director, Fujitsu Limited Apr 2016 Specially Appointed Vice President, Tokyo University of Science (current) Jan 2017 Chair, Scientific and Technical Subcommittee, UN Committee on the Peaceful Uses of Outer Space (COPUOS) Apr 2018 Special Adviser, Japan Aerospace Exploration Agency Mar 2019 Outside Director, Kao Corporation Nov 2022 Trustee, Keio University (current) Aug 2023 Special Adviser (part-time), Japan Aerospace Exploration Agency (current) Feb 2024 Advisor, TOPPAN Holdings Inc. Apr 2024 Executive Fellow, Kao Corporation (current) Jun 2024 Outside Director, TOPPAN Holdings Inc. (current) Aug 2024 Outside Director, the Company (current)
1952-05-06
Masanori SUGIYAMA
Outside Director
Jun 1991 Director, Tokuma Intelligence Network Co., Ltd. Jun 2000 Joined Index Corporation Mar 2004 Representative Director and President, Zappallas, Inc. Aug 2009 Director, Nikkatsu Corporation (current) Jun 2011 Representative Director and President, enish inc. Aug 2017 Director, akippa Inc. (current) Aug 2018 Director, ACSL Ltd. Aug 2019 Director, ROXX Inc. (current) Aug 2020 Director, KaizenPlatform, Inc. (current) Aug 2024 Outside Director, the Company (current)
1965-04-16
Yutaka SATO
Full-time Corporate Auditor
Apr 1988 Joined NEC Corporation Jul 1997 Planning Department, NEC Corporation Jan 2011 Corporate Auditor, Automotive Energy Supply Corporation (now AESC Japan Co., Ltd.) Jun 2013 Corporate Auditor, NEC TOKIN Corporation (now TOKIN Corporation) Feb 2014 Director, NEC SCHOTT Components Corporation (now SCHOTT Japan Corporation) Jun 2016 Director, NEC Lighting, Ltd. (now HOTARUX Corporation) Jun 2017 Director, Automotive Energy Supply Corporation (now AESC Japan Co., Ltd.) Mar 2018 Corporate Auditor, NEC Energy Devices, Ltd. (now AESC Japan Co., Ltd.) Apr 2019 Corporate Auditor, Innofis Inc. (current) Feb 2025 Outside Corporate Auditor, the Company (current)
1965-01-17
Emiko OBATA
Part-time Corporate Auditor
Apr 2002 Joined Legal Training and Research Institute of the Supreme Court of Japan Oct 2003 Joined Atsumi Sogo Law Office (now Atsumi & Sakai, Foreign Law Joint Enterprise) Jan 2017 Partner, Atsumi & Sakai, Foreign Law Joint Enterprise Dec 2019 Joined Hikari Sogo Law Office as Partner Oct 2021 Outside Corporate Auditor, White Essence Co., Ltd. Mar 2024 Outside Corporate Auditor, WOTA Corporation (current) Apr 2024 Joined Sparkle Law Office as Partner (current) Aug 2024 Outside Corporate Auditor, the Company (current)
1971-12-12
Seiji HARADA
Part-time Corporate Auditor
Nov 1984 Joined Tohmatsu & Aoki Audit Corporation (now Deloitte Touche Tohmatsu LLC), Tokyo Office, Audit Division Jun 1999 Partner, Deloitte Touche Tohmatsu LLC Jul 2012 Quality Control Department, Deloitte Touche Tohmatsu LLC Mar 2024 Head, Seiji Harada Certified Public Accountant Office (current) Aug 2024 Outside Corporate Auditor, the Company (current)
1958-10-01
Large Shareholding Reports
SBI SECURITIES Co., Ltd.
2026-10-02
2.41%
SBI Securities Co., Ltd.
2026-07-28
2.67%→2.44%
SBI Securities Co., Ltd.
2026-07-16
2.66%→2.67%
SBI Securities Co., Ltd.
2026-07-10
2.66%
Global Brain Corporation
2026-05-26
4.96%→3.91%
Global Brain Corporation
2026-05-13
5.12%→4.96%
Global Brain Corporation
2026-05-08
6.14%→5.12%
Global Brain Corporation
2026-04-23
7.18%→6.14%
Global Brain Corporation
2026-04-16
8.18%→7.18%
Global Brain Corporation
2026-03-06
9.26%→8.18%
Global Brain Corporation
2026-03-04
11.02%→9.26%
31 VENTURES-Global Brain-Growth I LLC
2025-12-18
5.08%→3.89%
31 VENTURES-Global Brain-Growth I LLC
2025-12-10
6.10%→5.08%
31 VENTURES-Global Brain-Growth I LLC
2025-12-03
7.15%→6.10%
31 VENTURES-Global Brain-Growth I LLC
2025-12-03
9.27%→8.19%
Correction filing (name/detail fix only) — ratio carried over from the original filing
31 VENTURES-Global Brain-Growth I LLC
2025-11-17
8.19%→7.15%
Global Brain Corporation
2025-11-14
12.04%→11.02%
31 VENTURES-Global Brain-Growth I LLC
2025-08-26
9.27%→8.19%
Global Brain Corporation
2025-08-20
12.04%
31 VENTURES-Global Brain-Growth I LLC
2025-08-20
9.27%
Tomoya NAKAMURA
2025-08-19
5.34%
Annual report (as of 2026-05-31): 4.35%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-15
Securities Registration Statement
TDnet
2026-10-15
Q1 Earnings Flash
FY ending May 2027
EDINET
2026-10-02
Large Shareholding Report
EDINET
2026-08-26
Annual Securities Report
Period: Jun 2025 – May 2026
TDnet
2026-08-05
株主総会招集通知
EDINET
2026-07-28
Large Shareholding Report
EDINET
2026-07-16
Large Shareholding Report
EDINET
2026-07-10
Large Shareholding Report
EDINET
2026-05-26
Large Shareholding Report
EDINET
2026-05-13
Large Shareholding Report
EDINET
2026-05-08
Large Shareholding Report
EDINET
2026-04-23
Large Shareholding Report
EDINET
2026-04-16
Large Shareholding Report
TDnet
2026-04-14
Q3 Earnings Flash
FY ending May 2026
EDINET
2026-03-06
Large Shareholding Report
EDINET
2026-03-04
Large Shareholding Report
EDINET
2026-01-14
Semi-Annual Securities Report
Period: Jun 2025 – May 2026
EDINET
2025-12-18
Large Shareholding Report
EDINET
2025-12-10
Large Shareholding Report
EDINET
2025-12-03
Large Shareholding Report
EDINETAmended
2025-12-03
Change Report
EDINET
2025-11-17
Large Shareholding Report
EDINET
2025-11-14
Large Shareholding Report
TDnet
2025-10-15
Q1 Earnings Flash
FY ending May 2026
EDINET
2025-08-27
Annual Securities Report
Period: Jun 2024 – May 2025
EDINET
2025-08-26
Large Shareholding Report
EDINET
2025-08-20
Large Shareholding Report
EDINET
2025-08-20
Large Shareholding Report
EDINET
2025-08-19
Large Shareholding Report
EDINETAmended
2025-08-04
Amended Securities Registration Statement
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