Nisso Corp. (6569: TYO), a Yokohama, Japan-based staffing provider, announced that it invested in Interstellar Technologies Inc., a rocket venture company based in Hokkaido, Japan.

Interstellar Technologies ('IST') develops and manufactures a sounding rocket called Momo and a microsatellite launch vehicle called ZERO. The company aims to launch microsatellites at low cost. The 'sounding rocket' Momo No. 3 was launched on 4 May 2019 and was the first rocket developed and manufactured by a private Japanese company to reach space. A sounding rocket is sometimes called a research rocket or a suborbital rocket and is an instrument-carrying rocket designed to take measurements and perform scientific experiments during its sub-orbital flight.

IST is also developing ‘ZERO’, which can launch microsatellites at a low cost and plans to have the initiative available within a few years in order to meet strong demand for satellite services.

Nisso also reported other investments.

“In addition, the company has decided to invest in the regional revitalization projects in Hokkaido, Taiki-cho, and related companies, as well as the space version of the Silicon Valley concept, because it believes that these projects have great dreams and potential, and that it will become an industry that will support Japan’s ‘monozukuri’ (manufacturing) in the future,” Nisso said in its announcement.

“Furthermore,” according to the company, “since it is also an important position in the cutting-edge field of rocket development and manufacturing in terms of human resources development for the company’s engineers and newly graduated employees, the company has concluded a ‘partnership agreement’ with the aim of contributing to the development of the space industry through highly specialized human resources.”