Canon Electronics shares fell as much as 12.7% after Tokyo-based Space One's rocket exploded just moments into its inaugural launch. Cannon is part of a group of companies that founded Space One in 2018. The solid-fueled Kairos rocket exploded within seconds of lifting off at 11:01 a.m. Japan time , Reuters reported.
A successful mission would have made Space One the first Japanese company to put a satellite in orbit. 7739.T-JP YTD mountain IHI Aerospace , construction firm Shimizu and government-owned Development Bank of Japan are the other companies that helped set up Space One. Mitsubishi UFJ and Mizuho Financial Group , two of Japan's biggest banks, also own minority stakes in Space One. Read the full story here .
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