Ispace's board resolved on July 29, 2026 to sign a launch services agreement with Mitsubishi Heavy Industries for Mission 3, the Tokyo-listed lunar transport company said. The deal commits Mitsubishi Heavy's H3 rocket to carry ispace's next lunar lander, ULTRA, on a launch currently scheduled for 2028.
Ispace did not disclose the contract's value, citing a confidentiality agreement with Mitsubishi Heavy. The company said it will book the associated expense only when the rocket launches in 2028, meaning the deal has no effect on its full-year consolidated earnings forecast for the year ending March 2027.
ULTRA is ispace's newest lander design, developed with support from a Ministry of Economy, Trade and Industry SBIR subsidy. The company's first two lunar missions each aimed for a soft landing on the Moon and demonstrated stable arrival at lunar orbit, according to the notice. Mitsubishi Heavy, which has long taken part in Japan's space development, is currently developing and manufacturing the H3, described in the filing as the next-generation large core rocket meant to replace the H-IIA and H-IIB launch vehicles.
Beyond the launch itself, the two companies said they intend to explore cooperation on future lunar infrastructure and related technology, extending their relationship past a single transport contract. Neither company gave a timeline for when, or whether, that broader cooperation would be formalised.