Japan's MUFG Bank, two others lead $290 mln Sierra Space fundraising -Nikkei
26/09/2023 07:08
TOKYO, Sept 26 (Reuters) - MUFG Bank is among three
Japanese firms leading a $290-million fundraising round for U.S.
spaceship company Sierra Space, spearheading a commercial
"spaceport" project in the southwestern region of Oita, the
Nikkei daily said on Tuesday.
Despite recent setbacks for national space missions,
Japanese companies aiming to foray into space are increasingly
deepening ties with private companies, from American giants such
as SpaceX to home-grown startups.
MUFG Bank, insurer Tokio Marine & Nichido Fire and trading
house Kanematsu together invested several tens of billions of
yen in Sierra, gaining a stake in the unlisted company that was
now probably valued in excess of $5 billion, the paper said.
A spokesperson of Tokio Marine & Nichido Fire, a unit of
Tokio Marine Holdings 8766.T , confirmed that the three
companies formed a strategic partnership with Sierra, but
declined to elaborate on their investments.
Spokespersons for Mitsubishi UFJ Financial Group's 8306.T
MUFG Bank and Kanematsu Corp 8020.T declined to comment.
Earlier, CNBC said the deal included "significant
participation from prior investors and insiders" of Sierra, in
addition to the Japanese firms.
Sierra Space, spun off in 20221 from billionaire-owned
Sierra Nevada Corp, is among a handful of space industry players
attempting to build a private space station that NASA hopes will
replace the two decade-old International Space Station by 2030.
Sierra signed a partnership in December with Kanematsu,
Japan Airlines 9201.T and the Oita prefectural government to
turn a regional airport into Asia's first "horizontal
spaceport".
The Oita project took a hit this year from the bankruptcy of
another U.S. space company Virgin Orbit VORB.O , which had
partnered with airline ANA Holdings 9202.T .
MUFG Bank, one of Japan's three biggest, has invested in
domestic space startups such as orbital debris-removal firm
Astroscale.
Tokio Marine's rival Mitsui Sumitomo Insurance said it
provided the world's first "lunar insurance" to ispace inc's
9348.T moon landing mission, which failed in April.
The vigorous commercial projects stand in contrast with the
Japan Aerospace Exploration Agency's (JAXA) unsuccessful space
missions since last year.
But its SLIM lander launched this month would make Japan the
fifth in the world to put a spacecraft on the moon if the early
2024 mission succeeds.
($1=148.8700 yen)
(Reporting by Kantaro Komiya; Editing by Clarence Fernandez)
((Kantaro.Komiya@thomsonreuters.com; Twitter: @kantarokomiya;))