Rakuten Mobile, Inc.

Rakuten disclosed in its Q2 2026 results that it was selected as an indirect subsidy operator under the program and will hold the rights to own and operate satellites, with the stated objective of maintaining Japan's domestic communications infrastructure on a priority and stable basis, unaffected by external environments even in emergencies.

Rakuten separately confirmed that commercial service delivered by Rakuten Mobile over ASTS satellites is targeted to launch from the fourth quarter of 2026, with the J-LEO infrastructure bill treated as an additional program on top of that commercial service.

What we believe is still outstanding is the formal grant application, since ASTS and Rakuten have to submit a detailed budget, procurement plan, and financing structure before the ministry finalizes the award.

And Rakuten has said J-LEO details will be disclosed once finalized.