Axelspace Holdings Corporation [402A.T]
TOKYO, Apr 14 (Pulse News Wire) – AxelSpace Holdings (402A.T) reported a revenue decrease of ¥967 million for the third quarter ending February 2026 compared to the same period last year. The decline was attributed to government contract manufacturing plans impacting sales.
However, the backlog of orders increased by ¥54.84 billion%, driven by ongoing development of satellites such as GRUS-3 scheduled for launch in May 2027 and high-resolution satellites set for May 2028. In the AxelGlobe division, the company secured three projects from the Second Phase of the Space Strategy Fund, advancing its mission to break traditional norms in space utilization. Additionally, the firm began service provision in April as per schedule for the Defense Ministry's constellation management project, which spans five years until March 2031.
Financially, the company recorded a lower net profit of ¥3.451 billion for the quarter, despite adjustments due to reduced selling expenses and general administrative costs. Total income, a Non-GAAP metric, stood at ¥1.454 billion, incorporating subsidies from governmental agencies. Looking ahead, AxelSpace revised its fiscal year 2026 earnings forecasts, projecting lower revenues but higher operating profits.
Key factors influencing these revisions included delays in high-value component deliveries and contract negotiations shifting to subsequent quarters.
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