TUPPER LAKE, NY — Small satellite manufacturer and operator Axelspace of Japan reported a 39% decline in revenue and a wider operating loss for the six months ending May 31 compared to the same period a year ago, citing higher costs for construction of a satellite test model, increased personnel charges and a change in revenue recognition for government projects.
Elevent months after its introduction onto the Tokyo Stock Exchange, Axelspace reported revenue of 564 million yen for the period, down from 921 million yen a year ago. Government subsidies . . .
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