Tokyo-based satellite company Axelspace plans to go public with an IPO in June. This move is part of Japan’s growing private space industry, which is getting strong support from the government as it tries to keep up with China’s tech progress.
Axelspace hopes to grow a lot in the future, but the space sector still faces challenges like raising enough money and becoming profitable.
According to people who know about the plan, Tokyo-based satellite company Axelspace plans to sell its shares to the public by June.
This move is an important step forward for Japan’s growing private space industry.
The Tokyo Stock Exchange is likely to approve Axelspace’s plan to sell shares to the public (IPO) soon. If that happens, Axelspace will become the fifth space company in Japan to go public in the past few years.
This is happening even though Japan’s private space industry, worth about 4 trillion yen, is still facing challenges in making profits, with over 100 startups currently active.
With help from the government and concerns about China’s rising space power, these space companies are looking for more investment.
Axelspace might be valued similarly to other satellite companies that use radar, but its plan to go public was delayed because of technical problems and waiting for government subsidies.
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