The following is an English version of the official Japanese announcement, which has been given to the Tokyo Stock Exchange and the media in Tokyo, Japan.
March 29, 2022
For Immediate Release
SPARX Group Co., Ltd.
President and Group CEO Shuhei Abe
(TSE1: 8739)
SPARX's Space Frontier Fund Invests in Synspective, a SAR satellite data and solutions provider - Realizing a "learning world" for a sustainable future -
TOKYO-March 29, 2022-SPARX Innovation for Future Co., Ltd. (SIF)-a subsidiary of SPARX Group Co., Ltd. (SPARX; TSE1: 8739)-today announced that its Space Frontier Fund, operating since June 2020, has invested in Synspective Inc., that develops and operates high-frequency, high-resolution SAR (Synthetic Aperture Radar) satellites to provide data analytics and solution services. The company aims to establish a constellation of 30 SAR satellites that enable wide-area, high-frequency earth observation and will use the new capital for the development, manufacturing, launch and operation of their SAR satellites, preparation of mass production facilities, development of satellite data solutions, and global expansion with the aim of further business growth..
Portfolio Company Outline
Synspective provides one-stop solutions using satellite observation data to steadily move the world forward. Applying the results of the ImPACT program (led by the Government of Japan, Cabinet Office), Synspective is building a constellation of 30 high-frequency, high-resolution SAR satellites to provide data and solutions to government and commercial outfits.
For more details on Synspective, visithttps://synspective.com/
Space Frontier Fund Overview
The Space Frontier Fund primarily seeks to support human resources and technology development in space-related industries, to foster Japanese space companies that are competitive on the world stage, and to contribute to technological innovation throughout Japan. Under SIF as its manager, the Fund began operations in June 2020 with an initial investment of JPY 9.2 billion from Toyota Motor Corporation, Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, and others.
SIF's homepage:https://sparxsif.com/en/
■ For inquiries related to this release, contact:
Public Relations, SPARX Group Co., Ltd.
Tel: +81-3-6711-9100 / Fax: +81-3-6711-9101pr_media@sparxgroup.com