SKY Perfect JSAT Corporation (Head Office: Minato-ku, Tokyo; Representative Director, President & CEO: Eiichi Yonekura; “SKY Perfect JSAT”) and Frontier Innovations Ltd. (Head Office: Chuo-ku, Tokyo; President & representative director: Tatsuhiko Nishimura; “Frontier Innovations”) are pleased to announce the signing of a Co-Creation Agreement to foster a space startup ecosystem. This agreement is in addition to SKY Perfect JSAT’s previously announced Limited Partnership investment in Frontier Innovations Fund I, and reflects both companies’ commitment to driving innovation in Japan’s space industry. Through this partnership, both companies will leverage their respective networks, expertise, and insights—not only to provide funding, but also to identify promising startups at an early phase, offer hands-on support in technology and business development, and foster the growth of a robust startup ecosystem from its formative stages.

From left: Teruo Yamashita, Board Director, Managing Executive Officer, Unit President of Space Business, SKY Perfect JSAT;
Tatsuhiko Nishimura, President & General Partner, Frontier Innovations;
Eiichi Yonekura, Representative Director, President & CEO, SKY Perfect JSAT.

  In recent years, Japan’s space industry has been recognized by the government as a key growth sector, with a national goal to double the market size from approximately 4 trillion yen to 8 trillion yen by the early 2030s*. To achieve this, there is a growing need for the expansion of space business through public-private partnerships and the creation of new space utilization models led by the private sector. Space startups are expected to serve as a driving force for innovation and enhanced international competitiveness; however, they face complex challenges including large initial investment amounts, significant technological risks, difficulty raising funds, and a shortage of specialized personnel.
※ “Space Industry Vision 2030” by the Cabinet Office of Japan

  SKY Perfect JSAT has been engaged in space business for 40 years and is positioning 2025 as a year of transformation toward further growth, and Frontier Innovations is a firm established by a team with extensive lead investment experience in space and deep-tech startups—including five publicly listed space companies—and operating Japan’s first fund anchored by an LP investment from JAXA(Japan Aerospace Exploration Agency). Both companies will further strengthen collaboration with space startup companies and contribute to the development of Japan’s space industry by building a sustainable space startup ecosystem.

                            Figure: Image of Agreement to Co-Create a Space Startup Ecosystem

※ “Space Industry Vision 2030” by the Ministry of Economy, Trade and Industry of Japan

■ Comments

Eiichi Yonekura, Representative Director, President & CEO, SKY Perfect JSAT
With 40 years of experience in space business and a proven track record of profitability, SKY Perfect JSAT strongly recognizes its responsibility and mission to contribute to the sustainable development of the space industry in Japan. This agreement with Frontier Innovations represents more than just financial support; it is part of a broader initiative to co-create new values with startups. Through our partnership, we aim to identify and nurture innovative ideas and technologies at an early stage, paving the way for the vibrant future for Japan’s space sector.

Teruo Yamashita, Board Director, Managing Executive Officer, Unit President of Space Business, SKY Perfect JSAT
The growth of space startups requires not only funding but also technical expertise and practical support to bring innovations to market. Leveraging 40 years of experience in satellite communications, SKY Perfect JSAT is committed to supporting the bold initiatives of these startups. Our agreement with Frontier Innovations marks an important step toward diversifying the space industry and strengthening its competitiveness. We are truly encouraged by the opportunity to collaborate with next-generation partners in fostering a sustainable and dynamic ecosystem.

Tatsuhiko Nishimura, President & General Partner, Frontier Innovations
Since my time at INCJ, Ltd (Innovation Network Corporation of Japan), a government-backed investment fund, I have worked closely with SKY Perfect JSAT as a co-investor and business partner through our investment and support for Institute for Q-shu Pioneers of Space, Inc., one of Japan’s first-generation space startups. Together, we have been committed to creating successful examples in the space startup sector.
Through this Co-Creation Agreement, we aim to leverage SKY Perfect JSAT’s deep expertise and resources as a space business leader to further enhance our support for portfolio companies, including space startups. We will continue working together to create more success stories and contribute to the development and growth of a globally competitive space and deep-tech ecosystem originating from Japan.

■ Company Overview

SKY Perfect JSAT
Recognized as “Space Business Pioneers,” SKY Perfect JSAT operates two core businesses: Space and Media.
In 2025, we celebrate the 40th anniversary of our Space Business. As one of Asia’s leading satellite communication providers, we offer a wide range of services, including in-flight internet connectivity and disaster-resilient backup networks. We are also advancing Universal NTN™, an innovative initiative aimed at realizing a society with no connectivity gaps. In the space intelligence business, we are developing our own high-resolution low Earth orbit (LEO) Earth observation satellite constellation. By leveraging a multi-orbit architecture that includes geostationary satellites, we are evolving into a comprehensive “Space Solutions Provider”, contributing to national security, environmental monitoring, disaster response, and infrastructure management.
In our Media Business, we provide broadcasting and distribution services through “SKY PerfecTV!”, media solutions utilizing our content and infrastructure, and fiber-optic retransmission services. We are also expanding into the global IP content market to further diversify our business.

Frontier Innovations
Frontier Innovations is an independent venture capital firm that makes lead, hands-on investments in seed and early-stage deep-tech startups. It was founded by a team from Innovation Network Corporation of Japan (INCJ), which has an extensive track record of lead investments in the space and deep-tech sectors, including five listed space startups.
Frontier Innovations operates the first fund to receive anchor LP investment from the Japan Aerospace Exploration Agency (JAXA), marking Japan's first fund to receive LP investment from a national research and development agency. The firm focuses on a wide range of advanced technology fields, including space, AI, robotics, climate tech, defense tech (security/economic security), hardware development, and core technologies. It promotes lead, hands-on investments in seed and early-stage companies across these areas.
Through these efforts, Frontier Innovations aims to create successful case studies of both space and non-space deep-tech startups, expanding ecosystems and fostering the creation of new industries.

■ Overview of SKY Perfect JSAT’s 10 Billion Yen Investment Allocation

■ Related Links
· February 4, 2025：SKY Perfect JSAT Supports Real Estate Transactions from Space: Business Partnership with JAXA Startup "Penetrator"
https://www.skyperfectjsat.space/en/news/penetrator_partnership

· February 4, 2025: SKY Perfect JSAT Forms Capital and Business Partnership with “ArkEdge Space” to Promote Micro-satellite Missions
https://www.skyperfectjsat.space/en/news/post_281