July 2026
Largest SpaceTech Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Mitsubishi, IHI, SKY Perfect JSAT Corp, Synspective and Astroscale.
 | Mitsubishi Corp. is Japan’s largest general trading house, or sogo shosha, a type of conglomerate unique to Japan. Its core role is that of a trading intermediary in a variety of industrial sectors, including resources businesses like energy and metals as well as non-resources businesses, both industrial ones like automotive and non-industrial ones like food, healthcare, and retail. In addition to acting as a trading intermediary (including midstream processing functions to convert inputs into final products), Mitsubishi also participates in upstream production businesses and downstream distribution businesses. | $27 | +46% | $100B | $125B | 1.0x | 12.2x | ||
| IHI Corp produces power systems and plants, large steel structures, marine machinery, aerospace engines, and other industrial solutions. The company operates its business through four segments. The Aviation, Space, and Defense segment covers aero engines, rocket systems, space utilization, and defense equipment. The Industrial System and General-purpose Machinery segment includes turbochargers, compressors, logistics systems, and industrial machinery. The Resources, Energy, Environment segment focuses on nuclear power, carbon solutions, and related equipment. The Social Infrastructure segment involves bridges, transportation systems, shield systems, construction materials, and urban development. | $16 | +7% | $17B | $19B | 1.9x | 11.2x | ||
| SKY Perfect JSAT Corp is a Japan-based company engaged in providing broadcasting and communication services. The company consists of two operating divisions, which are Media Business and Space Business. The Media Business offers platform services such as customer management activities to broadcasting and streaming businesses and Fiber optic alliance, and others. While Space Business offers telecommunication business, space intelligence business, and others. | $14 | +56% | $4B | $3.7B | 4.6x | 11.6x | ||
| Synspective Inc is engaged in development and operation of small SAR satellites and provider of SAR data and satellite solution. | $7 | +10% | $910M | $846M | 54.7x | 142.8x | ||
| Astroscale Holdings Inc is developing new and scalable solutions across the spectrum of on-orbit servicing, including life extension, in-space situational awareness, end of life, and active debris removal, to create sustainable space systems and mitigate the growing and hazardous buildup of debris in space. | $6 | +39% | $836M | $839M | 55.5x | (7.7x) | ||
| ShinMaywa Industries Ltd manufactures a wide range of products, including parking systems, aircrafts, trucks, and other industrial systems. The company has four operating segments: aircraft, special-purpose truck, industrial machinery and environmental systems, and parking systems. The special-purpose truck segment generates roughly half of total sales and focuses on distributing dump trucks, lifters, compactors, and forestry machinery. The aircraft segment sells amphibian aircraft (capable of open-sea landing and takeoff) and aircraft parts to other manufacturers. Sales to customers located in Japan constitute about three fourths of total revenue. | $12 | -- | $796M | $875M | 0.5x | 6.2x | ||
| Systems Engineering Consultants Co Ltd provides real-time software solutions. It develops real-time software with four business fields: mobile network, internet, social infrastructure system, and space advanced system. Its software offerings include Rtrilo (Ari Trilo), Rtino (Altino), RTMSafety (RTM Safety), airCube (air cube), airLook (EALOK) and airSmartG (Air Smart G). | $17 | +6% | $178M | $158M | 2.2x | 12.1x | ||
| Median | $14 | +24% | $910M | $875M | 2.2x | 11.6x |
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