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Synspective Inc.
(290A)
Synspective Inc. (290A) vs. iShares MSCI Japan ETF (EWJ)
Synspective Inc. Business Overview & Revenue Model
Synspective Inc. Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 2.38B | 2.32B | 1.39B | 492.41M |
| Gross Profit | 7.77M | 214.52M | 816.34M | 357.88M |
| EBITDA | -2.53B | -2.23B | -1.34B | -6.18B |
| Net Income | -371.16M | -3.59B | -1.52B | -6.27B |
Balance Sheet | ||||
| Total Assets | 49.37B | 28.20B | 11.31B | 9.89B |
| Cash, Cash Equivalents and Short-Term Investments | 24.54B | 14.24B | 4.47B | 6.60B |
| Total Debt | 9.38B | 7.29B | 3.03B | 501.00M |
| Total Liabilities | 10.58B | 8.32B | 3.44B | 1.80B |
| Stockholders Equity | 38.79B | 19.87B | 7.87B | 8.09B |
Cash Flow | ||||
| Free Cash Flow | -9.96B | -9.16B | -5.85B | -6.64B |
| Operating Cash Flow | 1.66B | -1.80B | -2.22B | -4.14B |
| Investing Cash Flow | -11.63B | -7.46B | -3.64B | -2.50B |
| Financing Cash Flow | 20.27B | 19.03B | 3.72B | 5.89B |
Synspective Inc. Technical Analysis
Synspective Inc. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥5.53B | 10.52 | ― | 2.99% | 26.64% | 30.76% | |
71 Outperform | ¥3.81B | 37.66 | ― | ― | -1.26% | -39.08% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | ¥3.06B | 47.92 | ― | 4.17% | -15.23% | -65.39% | |
54 Neutral | ¥173.02B | -384.83 | ― | ― | ― | ― | |
44 Neutral | ¥4.06B | -4.98 | ― | ― | 15.39% | -562.65% | |
43 Neutral | ¥5.58B | -8.63 | ― | ― | -0.02% | -12.19% |
Synspective Inc. Corporate Events
Synspective Inc. has approved the issuance of its 6th and 7th series of share acquisition rights, or stock options, aimed at employees, directors and other staff to secure and retain talent critical to its medium- to long-term growth. The move underscores a strategy of aligning internal incentives with business performance while carefully managing shareholder dilution.
The 6th series will be granted free of charge to employees with a nominal exercise price, while the 7th series will be sold at fair market value to directors and employees and is performance-linked to revenue targets between ¥27 billion and ¥33 billion in fiscal years 2027–2028. If fully exercised, both series would dilute existing shares by about 0.35%, which the company deems a limited impact relative to the expected benefits of improved performance, stronger commitment to business plans, and enhanced corporate value.
Synspective emphasizes that the 7th series pricing and exercise terms are based on an independent valuation and therefore do not constitute preferential treatment for management. The company also signals that it may issue further stock options in the future to support expansion, but says it will calibrate size, terms and timing to balance growth incentives with the dilutive effect on current shareholders.
The most recent analyst rating on (JP:290A) stock is a Hold with a Yen1137.00 price target. To see the full list of analyst forecasts on Synspective Inc. stock, see the JP:290A Stock Forecast page.
Synspective Inc. is a Japan-based space technology company specializing in synthetic aperture radar, or SAR, satellite imagery and data-driven solutions. The company targets clients in regions such as Europe, the Middle East and Africa that are investing heavily in space-based observation, using its imagery for applications spanning civil, industrial and defense markets.
By establishing a wholly owned subsidiary, Synspective Europe GmbH, in Munich, Germany in the first half of 2026, the company aims to deepen its access to European programs and funding. The new unit, led by EMEA head Iain MacInnes, will focus on expanding SAR data sales, building partnerships with European institutions and industry, enhancing local support and operational efficiency, and strengthening Synspective’s brand as a global player.
The Munich base is intended to capture growing regional demand for SAR solutions while localizing administrative and financial functions to better meet EU procurement and consortium requirements. Synspective has already factored this expansion into its full-year earnings forecast for the fiscal year ending December 2026, signaling its expectation that the move will have a material role in its growth trajectory.
The most recent analyst rating on (JP:290A) stock is a Hold with a Yen1137.00 price target. To see the full list of analyst forecasts on Synspective Inc. stock, see the JP:290A Stock Forecast page.
Synspective Inc. has disclosed that the planned maximum support amount it may receive under the Japan Aerospace Exploration Agency’s Space Strategic Fund Project is 23.79 billion yen through March 2030. The grant supports technology development for accelerating commercial satellite constellation construction, specifically mass production and launches of small SAR satellites and stepwise performance upgrades, with two thirds of eligible manufacturing, launch and development costs subsidized.
For the initial subsidized project period through March 2027, JAXA has already decided on a grant amount of 16.464 billion yen, a figure now reflected in Synspective’s full-year earnings forecast for the fiscal year ending December 2026. The additional support, contingent on a stage-gate review scheduled for fiscal 2026, is expected to contribute to earnings from fiscal 2027 onward, underscoring the strategic role of public funding in scaling Synspective’s constellation and strengthening its competitive position in commercial earth observation.
The most recent analyst rating on (JP:290A) stock is a Hold with a Yen1137.00 price target. To see the full list of analyst forecasts on Synspective Inc. stock, see the JP:290A Stock Forecast page.
Synspective reported full-year 2025 consolidated results largely in line with its earlier forecast, with total revenue of 6,140 million yen and sales of 2,376 million yen, while operating and ordinary losses remained substantial but broadly within expectations. The company significantly narrowed its net loss attributable to owners of the parent to 371 million yen, compared with both its prior forecast and the previous year’s 3,592 million yen loss.
The improvement in bottom-line results was mainly driven by the recognition of deferred tax assets, which led to recording 702 million yen in deferred tax income and reduced the reported net loss per share from a projected 12.99 yen to 3.21 yen. By determining that a portion of its deferred tax assets is recoverable based on its outlook for future taxable income, Synspective has strengthened its balance sheet and signaled increased confidence in its medium-term earnings capacity, a development that may be viewed positively by investors monitoring its path toward profitability.
The most recent analyst rating on (JP:290A) stock is a Hold with a Yen1137.00 price target. To see the full list of analyst forecasts on Synspective Inc. stock, see the JP:290A Stock Forecast page.
Synspective Inc., a Tokyo-listed space-tech and data services company, reported a sharp increase in total revenue to ¥6.14 billion for the fiscal year ended December 31, 2025, driven mainly by higher government subsidies alongside modest growth in net sales. Despite the revenue jump, the company remained loss-making, posting an operating loss of ¥4.14 billion and a net loss attributable to owners of ¥371 million, although losses narrowed significantly from the previous year.
The company’s financial position strengthened notably, with total assets rising to ¥49.37 billion and net assets to ¥38.79 billion, helped by strong financing cash flows of ¥20.27 billion and a year-end cash balance of ¥24.54 billion. Synspective continues to forgo dividends as it prioritizes growth, and it forecasts a further surge in revenue to ¥16.05 billion in 2026 and a swing to positive profit attributable to owners of ¥2.62 billion, signaling an anticipated transition from investment-heavy expansion toward profitability that could materially affect shareholder expectations and its competitive standing in the space-tech market.
The most recent analyst rating on (JP:290A) stock is a Hold with a Yen1137.00 price target. To see the full list of analyst forecasts on Synspective Inc. stock, see the JP:290A Stock Forecast page.
Synspective Inc. said it will book approximately ¥49 million in non-operating income in the first quarter of the fiscal year ending December 2026, after Japan’s Ministry of Economy, Trade and Industry selected its SAR satellite-based mining monitoring project in South Africa, Brazil, Chile, Peru and Angola for the Global South Future-Oriented Co-Creation Subsidy. The subsidy-backed project underscores Synspective’s role in applying SAR satellite technology to resource-sector monitoring in emerging markets, while the company plans to disclose its full-year earnings forecast for fiscal 2026 when it reports full-year results for fiscal 2025, signaling that any additional material developments will be announced promptly.
The most recent analyst rating on (JP:290A) stock is a Hold with a Yen1137.00 price target. To see the full list of analyst forecasts on Synspective Inc. stock, see the JP:290A Stock Forecast page.
Synspective Inc. has been selected as one of seven contractors in Japan’s Ministry of Defense satellite constellation project, a Private Finance Initiative led by Mitsubishi Electric, SKY Perfect JSAT and Mitsui & Co. to build and operate a military-focused imaging constellation and dedicated ground facilities through March 2031. As a partner company, Synspective will supply SAR satellite imagery data to bolster Japan’s reconnaissance and situational awareness capabilities, aligning the firm more closely with national security priorities and potentially reinforcing its competitive position in defense-oriented Earth observation, although any earnings impact will only become clear from the fiscal year ending December 2026 onward.
The most recent analyst rating on (JP:290A) stock is a Hold with a Yen1127.00 price target. To see the full list of analyst forecasts on Synspective Inc. stock, see the JP:290A Stock Forecast page.
Synspective Inc. will recognize ¥801 million in subsidy income as non-operating income in the fourth quarter of the fiscal year ending December 31, 2025, after being selected under Japan’s Small and Medium-sized Enterprise Innovation Promotion Program implemented through the SBIR system by the Ministry of Economy, Trade, and Industry. The subsidy has already been factored into the company’s full-year earnings forecast for 2025, and Synspective indicates it will make further disclosures if any additional material items related to this project arise, signaling a modest but clearly defined boost to its financial performance and visibility within government-backed innovation programs.
The most recent analyst rating on (JP:290A) stock is a Hold with a Yen1127.00 price target. To see the full list of analyst forecasts on Synspective Inc. stock, see the JP:290A Stock Forecast page.
Synspective Inc. has announced a significant non-operating income for the fourth quarter of the fiscal year ending December 31, 2025, due to a subsidy from JAXA’s Space Strategy Fund. This income, amounting to 2,243 million yen, is part of a larger grant aimed at accelerating the deployment of commercial satellite constellations. The subsidy is expected to positively impact Synspective’s financial performance and strategic positioning within the aerospace industry.
The most recent analyst rating on (JP:290A) stock is a Hold with a Yen1127.00 price target. To see the full list of analyst forecasts on Synspective Inc. stock, see the JP:290A Stock Forecast page.