Astroscale Holdings

アストロスケールホールディングス

TSE Growth ・ Ticker 186A ・ Listed

Updated Sep 30, 2026

Result on listing day

+50.7%

Offer price

850 yen

First traded price

1,281 yen

Selling 100 shares at the first traded price would have produced a gain of 43,100 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building): 2024-05-20 — 2024-05-24
Lottery result: To be announced
Listing date: 2024-06-05
Cash needed to apply for one lot (100 shares): about 85,000 yen
Offering size (at the offer price): 5 billion yen ・ 5,884,900 shares
Market capitalisation at listing: 96 billion yen
Lock-up: Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 代表取締役やベンチャーキャピタルなどの主要株主に180日間のロックアップが付されています(価格による解除条項の記載はありません)。
Company website: https://astroscale.com/ja/

Brokers you can apply through

You can only enter this lottery through a broker underwriting it. The joint lead underwriters are Mitsubishi UFJ Morgan Stanley Securities, Mizuho Securities, which receive the largest allocations.

三菱UFJモルガン・スタンレー証券みずほ証券 SMBC日興証券野村證券 SBI証券楽天証券マネックス証券松井証券東海東京証券岩井コスモ証券岡三証券東洋証券水戸証券あかつき証券アイザワ証券三菱UFJ eスマート証券岡三オンライン (no longer offers IPOs)

Broker pages are in Japanese. A comparison in English is on the brokers page.

What stands out

In its ADRAS-J mission it approached a piece of debris to about 15 m, which it announced as a world first for a private company
Revenue for the year to April 2026 was about 5.9 billion yen, roughly 2.4 times the previous year
It holds contracts with government bodies in several countries, including JAXA, Japan's Ministry of Defense, the US Space Force and the UK Space Agency

What could go wrong

It has made losses since its founding, including a net loss of about 6.7 billion yen for the year to April 2026
Much of its income depends on government projects and subsidies, so budget changes and launch or project delays can hit results
In June 2026 it issued convertible bonds totalling 26.3 billion yen; if they convert into shares, the value of each existing share may be diluted

About the company

A space start-up developing on-orbit services, such as removing space debris and extending the life of satellites, by approaching and working on objects in orbit.

How it makes money

It earns money by taking on research, development and demonstration missions for on-orbit services, commissioned by space agencies, defence bodies in several countries and private satellite operators. Almost all of its revenue comes from these contracts, and it also receives government subsidies on top. For the year to April 2026, revenue was about 5.9 billion yen, and 'project revenue', which adds the subsidies, was about 11.5 billion yen.

Where growth is meant to come from

With bases in Japan, the UK, the US, France and elsewhere, it aims to capture growing demand for space defence and to win more repeat contracts that reuse the same technology, targeting an operating profit as early as possible. For the year to April 2027 the company forecasts revenue of 7.0 to 9.0 billion yen and a net loss of 9.6 to 10.6 billion yen.

Read about this company in Japanese →

Figures are taken from the offering documents and public sources, and are checked against two independent sources before publication. Nothing here is investment advice. Shares can and do open below their offer price.