InfraOrbitThe capital behind space.
InfraOrbit register · 2015 to 2026

Japan space financing

22 space financings involving Japan since 2015, and 4 investment and M&A deals, each with its terms and primary sources.

Randeep Bubbra | Lawyer | Making space financeable

22Financings on file
US$1.1bnFunded volume (US$ eq.)
4Investments and M&A
US$133mLargest financing
Dated records

Japan space financing, by year.

2015: 1 financing (1 bonds)1201516: 0 financings1617: 0 financings1718: 0 financings1819: 1 financing (1 government and other)11920: 0 financings2021: 0 financings2122: 3 financings (3 bank and acquisition loans)32223: 3 financings (3 bank and acquisition loans)32324: 3 financings (3 bank and acquisition loans)32425: 5 financings (5 bank and acquisition loans)52526: 6 financings (2 convertibles, 4 bank and acquisition loans)626
BondsConvertiblesBank and acquisition loansGovernment and other

One square per financing, by date of signing, pricing or announcement. Volume in US$bn at approximate annual average rates; 2026 runs to 27 Oct 2026.

Show the figures
YearBondsConvertiblesBank and acquisition loansGovernment and otherTotal
20151 · US$83m–––1 · US$83m
2016––––0 · US$0m
2017––––0 · US$0m
2018––––0 · US$0m
2019–––1 · US$5m1 · US$5m
2020––––0 · US$0m
2021––––0 · US$0m
2022––3 · US$99m–3 · US$99m
2023––3 · US$79m–3 · US$79m
2024––3 · US$159m–3 · US$159m
2025––5 · US$183m–5 · US$183m
2026–2 · US$175m4 · US$308m–6 · US$483m

Largest financing

Synspective ¥20bn syndicated term loan (2026), 18 Sep 2026.

By type

TypeFinancingsFunded (US$)
Bank facility18US$828m
Convertible2US$175m
Bond1US$83m
Government finance1US$5m

Banks and lenders named

Mizuho (7), SMBC Group (7), MUFG (6), Sumitomo Mitsui Trust Bank (5), Resona Bank (5), Shizuoka Bank (5), Shoko Chukin Bank (4), Aozora Bank (3).

Counts are financings on file where the bank or lender is named. All lenders.

Financings

DateFinancingTypeAmount
28 Sep 2026SKY Perfect JSAT ¥17bn syndicated sustainability-linked loanBank facilityJPY 17bn
18 Sep 2026Synspective ¥20bn syndicated term loan (2026)Bank facilityJPY 20bn
9 Sep 2026ispace ¥3bn Shizuoka Bank loan (2026)Bank facilityJPY 3bn
20 May 2026Astroscale ¥10bn zero-coupon euro-yen convertible bonds due 2029ConvertibleJPY 10bn
20 May 2026Astroscale ¥16.3bn No. 1 unsecured convertible bonds placed with HulicConvertibleJPY 16.3bn
30 Jan 2026iQPS ¥6.2bn syndicated term loanBank facilityJPY 6.2bn
23 May 2025ispace ¥10bn Sumitomo Mitsui Banking Corporation loan (2025)Bank facilityJPY 10bn
15 May 2025ispace ¥5bn Mizuho Bank loan (2025)Bank facilityJPY 5bn
31 Mar 2025Astroscale ¥3bn commitment line from Resona Bank (2025)Bank facilityJPY 3bn
26 Mar 2025ispace ¥1.4bn Sumitomo Mitsui Trust Bank term loan (2025)Bank facilityJPY 1.4bn
20 Feb 2025Synspective ¥8.1bn syndicated term loan (2025)Bank facilityJPY 8.1bn
31 Jul 2024ispace ¥10bn syndicated loan (2024)Bank facilityJPY 10bn
24 Apr 2024ispace ¥7bn Sumitomo Mitsui Banking Corporation bridge and term loans (2024)Bank facilityJPY 7bn
15 Mar 2024Astroscale ¥7bn loan and credit facility from MUFG Bank (2024)Bank facilityJPY 7bn
24 Oct 2023iQPS ¥5bn syndicated loan with SMRJ guaranteeBank facilityJPY 5bn
30 Aug 2023ispace ¥3bn Sumitomo Mitsui Banking Corporation loan (2023)Bank facilityJPY 3bn
27 Apr 2023Astroscale ¥3bn revolving credit line from MUFG Bank (2023)Bank facilityJPY 3bn
30 Sep 2022Astroscale ¥5bn term loan from MUFG Bank (2022)Bank facilityJPY 5bn
29 Jul 2022ispace ¥5bn syndicated loan (2022)Bank facilityJPY 5bn
31 Jan 2022Astroscale Japan ¥3bn loan from MUFG and Japan Finance Corporation (2022)Bank facilityJPY 3bn
17 Jul 2019Axelspace ¥550m Japan Finance Corporation loan (2019)Government financeJPY 550m
18 Jun 2015SKY Perfect JSAT Holdings ¥10bn 0.927% bond due 2025BondJPY 10bn

Investments and M&A

DateDealTypeValue
5 Jun 2026Hulic and SKY Perfect JSAT ¥4.3bn share placement in AstroscaleStrategic investmentJPY 4.3bn
23 May 2025Astroscale ¥11.7bn international share offeringEquity raiseJPY 11.7bn
5 Jun 2024Astroscale IPO on Tokyo Growth MarketIPOJPY 18.84bn
12 Apr 2023ispace IPO on Tokyo Growth MarketIPOJPY 6.73bn

Totals are US$ equivalents of funded deals at approximate annual average rates; programme-level and conditional commitments are listed but left out. Records come from public, primary sources. How the register is built.

Randeep Bubbra
InfraOrbit Weekly

The week in space finance, read from the filings.

Deals, terms and the clauses behind them, for the people financing satellite operators, launch and space infrastructure. By Randeep Bubbra.

Working on a financing like this? Book 20 minutes with Randeep to see how it compares.

Newsletters

Weekly, one email. Work email only. Unsubscribe any time. Privacy.