TSE:9348
Tokyo-listed ispace is building commercial lunar landers, aiming to make transport to and business on the Moon routine.
A private path to the Moon
ispace, founded in 2010 and listed on the Tokyo Stock Exchange (9348) in 2023, is one of the world’s leading commercial lunar-exploration companies. Through its HAKUTO-R program it designs and operates lunar landers that carry customer payloads — government and commercial — to the Moon’s surface, a market it expects to grow as nations and companies eye lunar resources.
Hard problems, real progress
In 2025 ispace’s RESILIENCE lander (Mission 2) successfully reached lunar orbit before a hard landing on final descent — a reminder of how unforgiving lunar landing is, and how few organisations have attempted it at all. ispace continues to advance: Mission 3, debuting the larger APEX 1.0 lander and led by ispace-US, targets 2026.
Why it represents the next generation
ispace is among a small global set of private companies treating the Moon as a commercial destination. For Japan, it signals a shift from space-as-science to space-as-business, with a homegrown company competing at the frontier.
Why it matters for global partners and investors
- For the space industry, ispace is building commercial transport to the lunar surface for payloads and resources.
- For partners and investors, it offers exposure to an emerging cislunar economy via a listed Japanese company.
- The opportunity to watch is commercial lunar logistics as nations and firms target the Moon.
Frequently asked questions
What does ispace do?
ispace is a Japanese commercial space company, founded in 2010 and listed on the Tokyo Stock Exchange (9348). It builds and operates lunar landers that carry payloads to the Moon for government and commercial customers, under its HAKUTO-R program.
Has ispace landed on the Moon?
ispace’s RESILIENCE lander reached lunar orbit in 2025 but made a hard landing on final descent. The company is preparing Mission 3 with its larger APEX 1.0 lander, targeting 2026.
Why does ispace matter?
It is one of only a handful of private companies worldwide pursuing commercial lunar transport, marking Japan’s shift from space science toward a space business led by a homegrown company.
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This profile is part of Japonity’s next-generation Japanese companies series, spotlighting the startups and challengers redefining Japan’s new economy.
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