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Latest Tokyo Brief coverage on Astroscale Holdings Inc., tracking filings, financial news, and market signals from Japan.
TSE:186A
Astroscale Holdings has extended its unsecured overdraft facility with Mizuho Bank to June 2029 at the same ¥3bn limit, but the deal requires the loss-making satellite-servicing company to keep at least ¥5bn in cash and near-cash assets on hand at all times.
Astroscale plans to cut stated capital by ¥2.13bn and drain its entire ¥5.60bn capital reserve to wipe out a ¥7.73bn accumulated deficit, an accounting shuffle that leaves shareholders' stakes and the company's net worth unchanged.
Astroscale's board wants inside directors to earn new stock awards over four years, not one, and can claw the shares back if misconduct triggers a restated audit.
Project revenue rose 89.0% to ¥11.51 billion and IFRS revenue climbed 141.8% to ¥5.94 billion in the year to April, while operating loss narrowed to ¥9.98 billion and net loss to ¥6.70 billion. Cash and equivalents fell to ¥10.02 billion from ¥21.30 billion, and the coming-year outlook is still a loss-making range rather than a clean turn to profit.