CANON ELECTRONICS, IHI AEROSPACE, Shimizu Corporation and DBJ announce reclassification of New Generation Small Rocket Development Planning Co. Ltd. as an operating company
CANON ELECTRONICS INC.
IHI AEROSPACE Co., Ltd.
Development Bank of Japan Inc.
TOKYO, July 2, 2018- CANON ELECTRONICS INC. (“CANON ELECTRONICS”), IHI AEROSPACE Co., Ltd. (“IHI AEROSPACE”), Shimizu Corporation and Development Bank of Japan Inc. (“DBJ”) announced today the collective decision to reclassify New Generation Small Rocket Development Planning Co. Ltd. (the Business Planning Company), established through joint investment by the four companies, as SPACE ONE Co., Ltd. (the Operating Company), along with an increase in capital.
Since the announcement of the Business Planning Company’s establishment in August 2017, the Business Planning Company and the aforementioned four companies have endeavored to determine the viability of the business in the development of small rockets. As a result, the four companies have concluded that there is ample opportunity for business development of an operating company and, having completed the necessary procedures for increasing capital, today announce the reclassification of the Business Planning Company as an Operating Company. In response to increasing demand worldwide for small satellite launch services, the four companies are accelerating plans for reclassification, with the aim of commercializing the Operating Company by 2021.
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