Tokio Marine : Strategic Investment in and Commercial Collaboration with Axelspace Holdings (88KB

April 5, 2023

Tokio Marine Holdings, Inc.

Strategic Investment in and Commercial Collaboration with Axelspace Holdings

Tokio Marine Holdings, Inc. (President and Group CEO: Satoru Komiya, hereinafter referred to as "TMHD") is pleased to announce that TMHD has entered into a capital and business alliance with Axelspace Holdings Inc. (President and CEO: Yuya Nakamura, hereinafter referred to as "Axelspace"), a pioneering startup in the space business field. Axelspace is engaged in the development, manufacture, launch, and operation of microsatellites. This capital and business alliance is aiming to develop new insurance products and services for the space market.

1. Background

Launching high-quality microsatellites at a lower cost has become possible with the advancement of space technology, and there is a growing trend worldwide to launch satellites equipped with high-performance cameras and sensors to Low Earth Orbit (600 to 1,000 km altitude) to accumulate and utilize various types of data. In Japan, many public-private partnerships are considering taking advantage of the use of microsatellites in various fields.

In line with this backdrop, TMHD has entered into a capital and business alliance with Axelspace, a pioneering startup in Japan which has successfully developed, launched, and operated nine microsatellites as of April 2023.

2. Key Initiatives

Tokio Marine & Nichido Fire Insurance Co., Ltd. (President: Shinichi Hirose, hereinafter referred to as "TMNF"), a member company of Tokio Marine Group, which has over 30-year experience of underwriting in the international space insurance market and Axelspace which has technical capabilities and data in the field of microsatellites will consider how to collaborate on the following initiatives.

• Development of new space insurance for microsatellites

TMNF will analyze data on the development and manufacture of microsatellites owned by Axelspace to develop new space insurance products specialized for microsatellites. In addition, TMNF will collaborate with "AxelLiner"(*), a service provided by Axelspace, and will establish a digitalized space insurance platform to enhance user experience during the insurance procurement process.

(*A service that packages various processes involved in microsatellite development and launch projects through a unified interface.)

• Development of services using optical satellite imagery
  TMNF will utilize high-resolution optical satellite images around the world provided by "AxelGlobe", an Earth observation platform promoted by Axelspace, aiming to develop services to support rapid disaster response and recovery for companies operating globally.
• Axelspace Holdings Corporation > URL:https://www.axelspace.com/

1. Company Name: Axelspace Holdings Corporation
2. Head office: 3-3-3, Honmachi, Nihonbashi, Chuo-ku, Tokyo
3. Representative: Yuya Nakamura, President and CEO

(4) Main business activities: Earth observation business using microsatellites, the proposal of solutions utilizing microsatellites, design, and manufacture of microsatellites and related components, launch arrangements for microsatellites, and operational support and commissioning.