What QPS Holdings does

QPS Holdings Inc. is a Japanese space-data company listed on the Tokyo Stock Exchange Growth Market (ticker 464A) that operates through its wholly-owned subsidiary iQPS (Institute for Q-shu Pioneers of Space). The company, originating from Kyushu University and formally established as a holding company in December 2025, designs, manufactures, launches, and operates a constellation of small Synthetic Aperture Radar (SAR) satellites under the QPS-SAR brand, with nine operational satellites in orbit as of April 2026 and a roadmap to 24 satellites by May 2028 and 36 satellites by 2030 to enable quasi-real-time Earth observation at approximately 10-minute intervals. Its core technical claim is that the QPS-SAR platform achieves roughly 1/20th the mass and 1/100th the cost of conventional SAR satellites while delivering all-weather, day-and-night high-resolution Spotlight imagery.

QPS Holdings generates revenue primarily by selling high-resolution SAR satellite images to domestic and international government ministries and commercial enterprises, with the formula Revenue = images sold × unit price minus agent margin, supplemented by recurring Earth observation data services for disaster prevention, infrastructure monitoring, and defense applications. The company pursues an enterprise field-sales motion targeting government and large commercial buyers, supported by a long-term partnership with KSAT (Kongsberg Satellite Services) for global ground-station and downlink infrastructure. It is in a heavy investment phase, reporting a ¥187 million net loss for the first nine months of FY2026 and holding approximately ¥80 billion in cash reserves against a multibillion-yen capex plan to complete the 36-satellite constellation.

Name

QPS Holdings

Legal name

株式会社QPSホールディングス

Website

https://qpshd.com

Company type

Public

Founded year

2025

Operating status

Operating

Headcount range

51–100 employees

Short description

QPS Holdings is a Japanese space-data company operating a growing small SAR satellite constellation through subsidiary iQPS, selling high-resolution Earth observation imagery to government ministries and commercial enterprises for disaster prevention, infrastructure, and defense applications.

Ownership category

akta.pro rank

Product category

Earth Observation Data Services

NAICS

Guided Missile and Space Vehicle Manufacturing (336414), Satellite Telecommunications (517410)

SIC

Guided Missiles & Space Vehicles & Parts (3760)

akta.pro primary industry

Spacecraft & Satellites (Civil/Commercial) (IMABACAB)

akta.pro secondary industries

Satellite Imagery & Remote Sensing Geospatial Platforms (BPAMANAM), Satellite Network Operations & Capacity Services (NOC, Capacity Leasing, Managed Payload Services) (HDAIAJAI)

Keywords

• SAR satellite constellation
• Earth observation data
• Satellite imagery services
• Synthetic aperture radar
• Space-based monitoring

Headquarters

HQ city

Fukuoka

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Infrastructure, Operations, Personnel, Marketing or Sales

Revenue model

1. Satellite Imagery Data Sales: Revenue model based on selling high-resolution spotlight SAR satellite images. Revenue = Number of images sold × Unit price - Agent margin. Main focus on high-resolution Spotlight imagery sales.
2. Earth Observation Data Services: Providing satellite-acquired Earth observation data for various applications including disaster prevention, infrastructure management, and defense-related services.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

QPS Holdings develops and operates a constellation of small synthetic aperture radar (SAR) satellites through its wholly-owned subsidiary iQPS (Institute for Q-shu Pioneers of Space). The satellites achieve approximately 1/20th the mass and 1/100th the cost of conventional SAR satellites, enabling day/night, all-weather Earth observation. The company sells high-resolution Spotlight-mode SAR satellite imagery and Earth observation data services for disaster prevention, infrastructure management, and defense applications, targeting a 36-satellite constellation by 2030 to provide quasi-real-time observation at approximately 10-minute intervals.

Product overview

QPS Holdings operates as a space venture originating from Kyushu University, listed on Tokyo Stock Exchange Growth Market. The company, through its subsidiary iQPS (Institute for Q-shu Pioneers of Space), develops and operates small SAR (Synthetic Aperture Radar) satellites. The product portfolio centers on QPS-SAR satellites—high-resolution miniaturized radar satellites enabling all-weather, day-night Earth observation. The business model encompasses satellite development, launch, Earth observation, and satellite imagery/data sales. The company is building a constellation of 36 small SAR satellites by 2030 to achieve quasi-real-time observation at approximately 10-minute intervals, with intermediate milestones of 24 satellites by May 2028.

Differentiator

Problem solved

Functional benefit

Brands

• iQPS (QPS研究所): Subsidiary brand for small SAR satellite operations, data services, and satellite ground segment operations.

Products and services

• QPS-SAR Small SAR Satellite Constellation
• SAR Satellite Imagery and Earth Observation Data
• QPS-SAR15号機 スクナミ-I (SUKUNAMI-I)
• QPS-SAR13号機 ミクラ-I (Mikura-I)
• QPS-SAR5号機 ツクヨミ-I (Tsukuyomi-I)

Quantifiable outcome

• 1/20th mass compared to traditional satellites
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

One partnership is on record.

• KSAT (Kongsberg Satellite Services)coreStrategic or Co-development Partner · 3 June 2026Extended long-term partnership agreement with KSAT for satellite ground station services. KSAT provides critical infrastructure for satellite data transmission and reception, supporting the global satellite constellation operations.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Others

• Sky Perfect JSAT: Japan's largest satellite operator and a major QPS Holdings investor through the March 2026 ¥15.24B share allocation. Adjacent ecosystem participant — strategic financial partner and potential commercialization channel rather than a direct SAR competitor.
• KSAT (Kongsberg Satellite Services): Norwegian ground station operator and QPS Holdings' long-term partner for satellite data downlink. Adjacent ecosystem participant rather than a competitor — relevant as a comparable infrastructure provider in the SAR/EO value chain.

Direct peers

• Axelspace: Tokyo-based microsatellite Earth observation company operating optical (not SAR) constellations including GRUS. Comparable to QPS Holdings as a Japanese space venture providing commercial EO data, though addressing different sensing modalities and customer segments.
• Capella Space: US-based SAR satellite operator providing high-resolution all-weather Earth observation imagery. Competes with QPS Holdings in the commercial and government SAR data market with similar small-satellite architecture and Spotlight imaging capability.
• Synspective: Tokyo-based SAR satellite operator building its own small SAR constellation for Earth observation. The closest direct competitor to QPS Holdings, targeting the same Japanese government, defense, and infrastructure-monitoring customers with similar small-satellite SAR architecture.
• ICEYE: Finnish-Polish SAR satellite operator with the world's largest commercial SAR constellation. Directly comparable to QPS Holdings in providing high-resolution SAR imagery to government and commercial customers, but with significantly more deployed satellites and broader global coverage.
• Umbra: US-based SAR satellite company focused on high-resolution imagery for defense and commercial customers. Direct competitor to QPS Holdings in the small-satellite SAR segment with overlapping customer base in government and infrastructure monitoring.

Broad incumbents

• BlackSky Holdings: US-based geospatial intelligence company combining satellite imagery with AI analytics for defense and commercial customers. Comparable to QPS Holdings as a downstream provider of EO-derived insights, though with broader multi-source data offerings and a focus on analytics rather than raw SAR data.
• Satellogic: Argentina-based Earth observation company building a constellation of sub-meter resolution satellites. A broader EO incumbent competing with QPS Holdings for commercial imagery customers, though using optical rather than SAR sensors and serving a different geographic focus.
• Planet Labs: US-listed operator of the world's largest commercial Earth observation satellite constellation (optical and SAR). A broad incumbent in the EO data market that competes with QPS Holdings for commercial and government imagery customers, though primarily focused on optical rather than SAR data.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about QPS Holdings