Japan s MUFG Bank, two others lead $290 mln Sierra Space fundraising -Nikkei reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Despite recent setbacks for national space missions, Japanese companies aiming to foray into space are increasingly deepening ties with private companies, from American giants such as SpaceX to home-grown startups.
MUFG Bank is among three Japanese firms leading a $290-million fundraising round for U.S. spaceship company Sierra Space, spearheading a commercial "spaceport" project in the southwestern region of Oita, the Nikkei daily said on Tuesday. Despite recent setbacks for national space missions, Japanese companies aiming to foray into space are increasingly deepening ties with private companies, from American giants such as SpaceX to home-grown startups. MUFG Bank, insurer Tokio Marine & Nichido Fire and trading house Kanematsu together invested several tens of billions of yen in Sierra, gaining a stake in the unlisted company that was now probably valued in excess of $5 billion, the paper said.