Astroscale Holdings (186A)

Astroscale Holdings (186A, Tokyo Stock Exchange) is the pioneer of on-orbit servicing: spacecraft that remove debris, inspect satellites, extend their lives, and refuel them. In ETFpedia it represents the Global Space Technology concept as its orbital-sustainability specialist, holding JAXA’s roughly 13.2 billion yen ADRAS-J2 contract and growing full-year fiscal 2026 revenue 141.8% as its operating loss nearly halved.

Ticker186A
ExchangeTSE
SectorSpace · On-Orbit Servicing & Debris Removal
CountryJapan
Related indexAkros Global Space Technology Index (AGSPCT)
WikidataQ60753705
Last updated2026-06-15
Financial snapshotas of2026-06-15

Next event:Q1 FY2027 results (three months ended Jul 31, 2026), confirmed · First-quarter FY2027 results per Astroscale's IR calendar; the 8th annual general meeting is held July 30, 2026 and the annual securities report is due July 29, 2026. (source)

Latest reported quarter:FY2026 full-year (year ended Apr 30, 2026) (reported2026-06-12)

In its first full year as a listed company Astroscale grew business revenue 89.0% year over year to 11,506 million yen, of which recognized revenue was 5,940 million yen, up 141.8%. It stayed loss-making but improved sharply: the operating loss narrowed to 9,975 million yen from 18,755 million, and the net loss attributable to owners fell to 6,697 million yen from 21,551 million, beating the company's own May 18 revised forecast on every line. The equity ratio rose to 25.1% from 18.2% and no dividend was paid.

Business revenue (FY)¥11,506M+89.0%YoY · Revenue plus government subsidy and other project income
Revenue (FY)¥5,940M+141.8%YoY
Operating loss (FY)¥(9,975)M · Narrowed from ¥(18,755)M in FY2025
Net loss (FY)¥(6,697)M · Attributable to owners; narrowed from ¥(21,551)M
Equity ratio25.1% · Up from 18.2%; as of Apr 30, 2026, before the June 2026 financing

Primary source

Guidance:Full-year FY2027 (year ending Apr 30, 2027), issued June 12, 2026

Business revenue¥12.5B–17.0B
Revenue¥7.0B–9.0B
Operating loss¥(9.0)B–(9.9)B
Net loss¥(9.6)B–(10.6)B

Range because Astroscale manages annually; business revenue grows a further 8.6–47.7% while losses widen on mission investment. FY2026 actuals beat the May 18 revised forecast on every line.

Guidance source

Recent & upcoming events

  • · FY2026 full-year results.Reported full-year business revenue of ¥11,506M (+89.0%) and revenue of ¥5,940M (+141.8%), narrowed the operating loss to ¥9,975M (from ¥18,755M) and the net loss to ¥6,697M (from ¥21,551M), and lifted the equity ratio to 25.1%; guided FY2027 to business revenue of ¥12.5B–17.0B against a wider ¥9.6B–10.6B net loss. (source)
  • · Completed ~¥30.6B growth financing.Payment completed for zero-coupon convertible bonds (~¥10B), new shares (~¥4.3B), and Series 1 unsecured convertible bonds (~¥16.3B) raised to fund on-orbit servicing growth. (source)
  • · Capital alliance with SKY Perfect JSAT and 9M results.Announced a strategic capital alliance with SKY Perfect JSAT covering satellite inspection, repair, and life extension, alongside nine-month results showing business revenue up 125.1%. (source)
  • · Revised FY2026 forecast.Lifted full-year business-revenue forecast to ¥11.3B and narrowed the projected net loss to ¥6.9B on roughly ¥3.8B of FX gains, while keeping a ¥10.1B operating-loss forecast. (source)

Full-year FY2026 figures are the consolidated IFRS results disclosed June 12, 2026 (year ended Apr 30, 2026); comparatives are FY2025. The 25.1% equity ratio is as of Apr 30, before the ¥30.6B financing completed June 5, 2026.

Figures are as of 2026-06-15 and reflect the most recent public filings/IR releases; they are updated after each earnings report.

What does Astroscale do?

Astroscale builds the maintenance layer of the space economy. Founded in Tokyo in 2013 and operating subsidiaries in Japan, the UK, the US, France, and Israel, it develops spacecraft for four services: active debris removal, satellite inspection, life extension, and refueling. Its proof point is ADRAS-J, the JAXA-commissioned mission that performed the first commercial rendezvous and proximity operations around a large piece of debris, including controlled fly-around observations of a spent Japanese rocket stage at about 50 meters (JAXA). The follow-on ADRAS-J2 contract, worth approximately 13.2 billion yen under Phase II of JAXA’s Commercial Removal of Debris Demonstration, will use a robotic arm to capture and deorbit that same rocket body. The company also pursues UK debris-removal work, US refueling programs, and defense-related orders in Japan.

Why is Astroscale a Global Space Technology company?

The Global Space Technology theme exists to capture space franchises that have no US-listed equivalent, and Astroscale is the only listed pure-play in debris removal and on-orbit servicing anywhere. Its demand base is sovereign: Japan’s 1 trillion yen, 10-year Space Strategy Fund channels money into on-orbit services through JAXA (JAXA), and the more satellites the rest of the theme launches, the larger Astroscale’s addressable problem becomes. The strategy is attracting industry capital too: on May 19, 2026, Japan’s satellite operator SKY Perfect JSAT, itself a Global Space Technology constituent, took a stake as part of a strategic alliance covering inspection, repair, and life extension (Astroscale).

“Services such as life extension and refueling for geostationary satellites offer compelling opportunities to improve overall fleet efficiency.”

— Nobu Okada, Founder & CEO, Astroscale (SKY Perfect JSAT partnership release)

What did Astroscale report most recently?

For the fiscal year ended April 30, 2026 (disclosed June 12, 2026), business revenue grew 89.0% year over year to 11,506 million yen, of which recognized revenue was 5,940 million yen, up 141.8% (Astroscale IR). The losses narrowed sharply as missions scaled: the operating loss fell to 9,975 million yen from 18,755 million, and the net loss attributable to owners dropped to 6,697 million yen from 21,551 million, beating the company’s own May 18 revised forecast on every line, while the equity ratio rose to 25.1% from 18.2%. Funding had already arrived: Astroscale completed a roughly 30.6 billion yen package of zero-coupon convertible bonds, new shares, and Series 1 convertible bonds on June 5, 2026, including the SKY Perfect JSAT investment.

What is Astroscale’s guidance?

With fiscal 2026 closed, guidance now points to FY2027 (the year ending April 30, 2027). Astroscale, which manages on an annual basis, gave a range: business revenue of 12.5 to 17.0 billion yen and recognized revenue of 7.0 to 9.0 billion yen, both growing again, against a 9.0 to 9.9 billion yen operating loss and a wider 9.6 to 10.6 billion yen net loss as it keeps investing in missions (Astroscale IR). The next print is first-quarter FY2027 results on September 11, 2026, and the 8th annual general meeting falls on July 30, 2026 (Astroscale).

What are the risks for Astroscale?

  • Deep, sustained losses. Even after halving its FY2026 operating loss to 9,975 million yen, Astroscale guides to a wider 9.6 to 10.6 billion yen net loss in FY2027; the path to profitability runs through missions that have never been done commercially.
  • Mission and technology risk. ADRAS-J2’s robotic capture of an uncontrolled rocket stage is a first-of-its-kind operation; failure would impair both revenue and credibility.
  • Government dependence. JAXA, the UK, and defense customers anchor the backlog; subsidy timing already shifted revenue between periods in fiscal 2026.
  • Dilution. The June 2026 financing added convertible instruments on top of prior raises; further capital needs are likely before breakeven.

Related securities, concepts & terms

Related indices & ETFs

These references describe index-tracking relationships as a matter of fact and are not a recommendation to buy any product. Akros, as the index provider, may receive licensing fees from product sponsors. Review the product's prospectus before investing.

Frequently asked questions about Astroscale

What does Astroscale do?

Astroscale develops spacecraft that service other spacecraft: removing space debris, inspecting satellites in orbit, extending their lives, and refueling them. Its ADRAS-J mission for JAXA performed the first commercial close-approach observations of a large piece of debris, and JAXA awarded Astroscale Japan the roughly 13.2 billion yen ADRAS-J2 contract to actually capture and deorbit a spent rocket stage (JAXA). It also works on UK debris-removal and US refueling programs.

Why is Astroscale part of the Global Space Technology theme?

Astroscale is the theme's orbital-sustainability specialist and its clearest Japan leg. As launch cadence breaks records, debris removal and on-orbit servicing become structural needs, and Astroscale is the only listed pure-play on them. Japan is funding the sector through JAXA's 1 trillion yen Space Strategy Fund (JAXA), and Astroscale converts that into contracts: full-year FY2026 business revenue grew 89.0% year over year to 11,506 million yen, with recognized revenue up 141.8% (Astroscale).

What were Astroscale's latest results?

For the fiscal year ended April 30, 2026 (disclosed June 12, 2026), Astroscale reported business revenue of 11,506 million yen, up 89.0% year over year, including recognized revenue of 5,940 million yen, up 141.8%. It stayed loss-making but improved sharply: the operating loss narrowed to 9,975 million yen from 18,755 million, and the net loss attributable to owners fell to 6,697 million yen from 21,551 million, while the equity ratio rose to 25.1% from 18.2% (Astroscale IR).

When does Astroscale report its next results?

Astroscale's first-quarter FY2027 results (for the three months ended July 31, 2026) are scheduled for September 11, 2026, per the company's IR calendar; its 8th annual general meeting is held July 30, 2026 and the annual securities report is due July 29, 2026 (Astroscale IR calendar). The company most recently reported full-year FY2026 results on June 12, 2026.

Is Astroscale profitable?

No, but its losses are narrowing. For the fiscal year ended April 30, 2026 Astroscale reported a 9,975 million yen operating loss and a 6,697 million yen net loss on business revenue of 11,506 million yen, roughly half the prior year's losses (Astroscale IR). It still guides to wider losses in FY2027 (a net loss of 9.6 to 10.6 billion yen) as it invests ahead of an emerging market, and in June 2026 it completed a roughly 30.6 billion yen financing of convertible bonds and new shares, including an investment from SKY Perfect JSAT.

What is Astroscale's partnership with SKY Perfect JSAT?

On May 19, 2026, Astroscale and SKY Perfect JSAT, Japan's major satellite operator and a fellow Global Space Technology constituent, announced a strategic capital alliance. SKY Perfect JSAT invested in Astroscale as part of its broader financing, and the two will cooperate on on-orbit servicing led by Astroscale, including satellite inspection, repair, and life extension (Astroscale).

Sources & references

  1. Consolidated Financial Results for the Fiscal Year Ended April 30, 2026 (Under IFRS) · Astroscale Holdings Inc., 2026-06-12
  2. Consolidated Financial Results for the Nine Months Ended January 31, 2026 (Under IFRS) · Astroscale Holdings Inc., 2026-05-19
  3. Notice Concerning Revision of Consolidated Financial Forecasts for the Fiscal Year Ending April 30, 2026 · Astroscale Holdings Inc., 2026-05-18
  4. Astroscale and SKY Perfect JSAT Form Strategic Partnership to Advance Space Infrastructure Development · Astroscale Holdings Inc., 2026-05-19
  5. Astroscale Holdings Inc. · IR Calendar · Astroscale Holdings Inc., 2026-06-15
  6. JAXA concludes partnership-type contract for Phase II of its Commercial Removal of Debris Demonstration (CRD2) · Japan Aerospace Exploration Agency (JAXA), 2024-08-20
  7. Overview of the Space Strategy Fund (SSF) · Japan Aerospace Exploration Agency (JAXA), 2025-01-01