Canon Electronics leads plunge among Japan's Space One shareholder companies after rocket explodes

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Reuters reported the solid-fueled Kairos rocket blew up just seconds after lifting off at 11:01 a.m. Japan time.

Space One was set up in 2018 by a consortium of Japanese companies including Canon Electronics, IHI Aerospace Co and construction firm Shimizu, along with the government-owned Development Bank of Japan.shares fell as much as 12.7% on Wednesday after Tokyo-based Space One's small rocket exploded just moments after its maiden launch.. If successful, Space One would have been Japan's first company to put a satellite in orbit, according to Reuters.

Space One has not disclosed launch costs, Reuters reported, adding that an executive previously said the company is "competitive enough" against American rival

 

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