AST SpaceMobile agrees to Japan venture with Rakuten
The Japan network is targeted to begin domestic operations by the end of March 2029; service to AST SpaceMobile customers worldwide is subject to regulatory approval.
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Rhea-AI Filing Summary
AST SpaceMobile, Inc. (ASTS) and Rakuten Group, Inc. agreed on November 6, 2026 (Japan Standard Time) to establish Rakuten AST, Inc., a joint venture to build a direct-to-device satellite communications network in Japan. Its establishment is planned for November 2026. Japan’s Ministry of Internal Affairs and Communications selected a joint proposal from Rakuten’s preparatory company and Rakuten Mobile for the J-LEO project.
Rakuten AST is expected to receive up to 148 billion yen (approx. 1 billion USD) over approximately three years through CIAJ after its establishment. AST SpaceMobile will supply satellites, while Rakuten AST plans to deploy and manage satellites compatible with mid-band spectrum and commence domestic operations by the end of March 2029. The project aims to connect commercially available smartphones directly to satellites and establish emergency inter-carrier roaming among mobile network operators. The venture also plans to provide services through AST SpaceMobile to its customers worldwide, subject to regulatory approval.
Filing Explained
AST SpaceMobile and Rakuten agreed to establish Rakuten AST, with establishment planned for November 2026; AST’s indirect subsidiary is to hold 49% of voting rights, versus Rakuten’s 51%, giving AST a minority voting stake in the planned venture.
8-K Event Classification
Key Figures
Key Terms
direct-to-device communications network technical
low Earth orbit (LEO) satellites technical
mid-band spectrum technical
emergency inter-carrier roaming technical
non-terrestrial network (NTN) technical
FAQ
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How much J-LEO funding is expected for ASTS’s Rakuten AST venture?
When is the ASTS satellite network in Japan expected to begin operations?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
On November 9, 2026, AST SpaceMobile, Inc. (the “Company”) issued a press release regarding Rakuten and AST SpaceMobile Establish “Rakuten AST” Joint Venture to Build D2D Satellite Communications Network in Japan. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
The information included in this Item 7.01 and in Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such a filing.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements including statements concerning the Company’s plans to build its own rocket and to purchase engines from Firefly. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “seek,” “plan,” “project,” “target,” “looking ahead,” “look to,” “move into,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements represent the Company’s current beliefs, estimates and assumptions only as of the date of this Current Report on Form 8-K and information contained in this Current Report on Form 8-K should not be relied upon as representing the Company’s estimates as of any subsequent date. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Risks include, but are not limited to, market risks, trends and conditions. These risks are not exhaustive. Further information on these and other risks that could affect the Company’s results is included in its filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, its Quarterly Reports on Form 10-Q, and the future reports that it may file from time to time with the SEC. The Company assumes no obligation to, and does not currently intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press release titled “Rakuten and AST SpaceMobile Establish ‘Rakuten AST’ Joint Venture to Build D2D Satellite Communications Network in Japan”, dated November 9, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AST SPACEMOBILE, INC. | ||
| Date: November 10, 2026 | By: | /s/ Andrew M. Johnson |
Andrew M. Johnson | ||
| Chief Financial Officer and Chief Legal Officer | ||
Exhibit 99.1
Rakuten and AST SpaceMobile Establish “Rakuten AST” Joint
Venture to Build D2D Satellite Communications Network in Japan
- Approximately USD 1 billion in funding awarded from Japan’s MIC to support deployment of Japanese-flagged mid-band satellite constellation
- Rakuten and AST SpaceMobile to build disaster-resilient, uninterrupted communications infrastructure, strengthening economic security for Japan
- AST SpaceMobile to supply satellites to power Japan’s sovereign direct-to-device constellation
Tokyo and Midland, Texas – November 9, 2026 – Rakuten Group, Inc. and AST SpaceMobile, Inc. (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, agreed to establish Rakuten AST, Inc. on November 6, 2026 (Japan Standard Time)*1. The joint venture is tasked with building a direct-to-device communications network in Japan using low Earth orbit (LEO) satellites to provide service to commercially available smartphones, strengthening Japan’s communications infrastructure in the event of disasters and other emergencies.
The Ministry of Internal Affairs and Communications’ (MIC) selected the joint proposal from Rakuten’s preparatory company and Rakuten Mobile, Inc. for the publicly solicited “J-LEO: Japan Low Earth Orbit Satellite Communications Project”*2. Rakuten AST is expected to receive up to 148 billion yen (approx. 1 billion USD) in support over approximately three years under J-LEO, through the Communications and Information Network Association of Japan (CIAJ), the organization established to manage the fund*3,4. Through this joint venture, Rakuten AST will collaborate with AST SpaceMobile to deploy and manage satellites compatible with mid-band spectrum, in order to establish a satellite communications network and commence domestic operations by the end of March 2029.
The J-LEO Project will leverage the largest communication satellites ever deployed in LEO to build domestic communications infrastructure that enables direct satellite-to-smartphone connectivity and strengthens economic security. In addition to extending cellular broadband connectivity to areas with limited or no terrestrial coverage, the project aims to ensure cellular broadband connectivity during emergencies, such as natural disasters, by establishing a framework for emergency inter-carrier roaming among mobile network operators.
Through Rakuten AST, Rakuten and Rakuten Mobile aim to establish a non-terrestrial network (NTN) managed and operated in Japan. The companies will deploy and operate a resilient, stable communications infrastructure capable of maintaining priority and stable connectivity, independent of external conditions – even in times of emergency.
The
satellite communications service to be deployed by Rakuten AST will leverage AST SpaceMobile’s large-scale satellites to enable
high-speed internet connectivity — such as video streaming and social media — on off-the-shelf smartphones without the need
for specialized equipment*5. Because the base station equipment is installed on ground-based infrastructure, Japanese telecommunications
operators can flexibly and autonomously manage and operate the network.
AST SpaceMobile will supply the satellites to power Japan’s sovereign D2D constellation. Beyond priority Japanese domestic market usage, Rakuten AST also plans to work with AST SpaceMobile to provide these services through AST SpaceMobile to its customers worldwide, subject to regulatory approval.
Rakuten Mobile will also work with AST SpaceMobile to advance the use of AI edge computing and plans to develop AI-driven spectrum management technology, exploring their application for higher-speed data communications and industry-specific solutions such as IoT. The company aims to expand its solution offerings beyond telecommunications carriers to include connectivity-reliant industries, such as logistics, infrastructure monitoring, construction, and agriculture.
Mickey Mikitani, Chairman and CEO, Rakuten Group, commented, “This project is a key pillar of Rakuten Mobile’s network strategy. By building an integrated framework spanning satellite procurement through operations and accelerating technological innovation, we will contribute to the development of disaster-resilient communications infrastructure and the improvement of Japan’s communications environment. We will maximize capital efficiency and pursue the expansion of business opportunities in the satellite communications sector.”
Abel Avellan, Founder, Chairman and CEO, AST SpaceMobile, commented, “This represents a significant milestone for AST SpaceMobile and validates the importance of space-based cellular broadband connectivity as countries around the world increasingly recognize the technology as a critical complement to terrestrial wireless infrastructure to realize the goal of 100% broadband availability wherever people work, live and travel. Through our technology, we will enhance the resilience of Japan’s communications infrastructure while strengthening our global network by leveraging capacity that can also be utilized outside of Japan.”
In addition to this project, Rakuten Mobile plans to begin commercial-environment testing of its satellite-to-mobile service within 2026, under the strategic partnership between Rakuten and AST SpaceMobile established in March 2020*6.
Rakuten, Rakuten Mobile, and AST SpaceMobile will continue working toward the early realization of D2D satellite communications, advancing the development of resilient communications networks.
Overview of Joint Venture
| Company Name: | Rakuten AST, Inc. | |
| Head Office: | 1-14-1 Tamagawa, Setagaya-ku, Tokyo | |
| Legal Capital: | 100 million yen | |
| Voting Rights Ratio: | Rakuten Group, Inc. 51% / AST SpaceMobile Japan Holdings II GK, a Japan-based wholly owned indirect subsidiary of AST SpaceMobile, Inc. 49% | |
| Representative: | Ryoji Osaka, Representative Director & CEO | |
| Date of Establishment: | November 2026 (planned) | |
| Business Description: | Satellite procurement, and the operation and management of satellite connectivity. |
Notes
*1 The new company will be established under an agreement between Rakuten Group, Inc. and AST SpaceMobile Japan Holdings II GK, a Japanese entity established by AST SpaceMobile, Inc. through AST & Science, LLC.
*2 The J-LEO Project was publicly solicited for indirect subsidy recipients (private companies) through the Japan Communications and Information Network Industry Association (CIAJ), the designated foundation operator.
*3 A joint proposal by RAST, Inc. (a preparatory company for Rakuten) and Rakuten Mobile was selected for the Ministry of Internal Affairs and Communications’ “Japan Low Earth Orbit Satellite Communications Project(*Japanese page)
*4 Grant to be received through CIAJ after establishment of Rakuten AST.
*5 AST provides large-scale satellite hardware and core technology, backed by approximately 3,900 patents held and applications pending. The next-generation satellites will feature the largest phased array ever deployed in low Earth orbit (approximately 223 m²), designed to deliver peak data speeds nearly double those of the company’s initial Block 1 BlueBird satellites. The Block 1 BlueBird satellites have demonstrated the ability to connect directly to standard smartphones, achieving a peak downlink speed of 98.9 Mbps, and have proven capable of delivering voice, broadband data, and video applications from space to consumers, enterprises, emergency responders, and governments. The company has signed agreements with approximately 60 mobile network operators representing over 3 billion subscribers, and has established strategic partnerships with AT&T, Verizon, Vodafone, Google, American Tower, Bell, Telus, and stc group, in addition to Rakuten.
*6 Related press release: Rakuten and Vodafone Invest in AST & Science’s Space Venture to Reach More People, Devices and Places with Mobile Coverage
About AST SpaceMobile, Inc.
AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio, and designed for both commercial and government applications. Our engineers and space scientists are on a mission to enable 4G and 5G space-based cellular broadband to every device, everywhere, for today’s nearly 6 billion mobile subscribers globally. For more information, follow AST SpaceMobile on YouTube, X (Formerly Twitter), LinkedIn and Facebook.
About Rakuten
Rakuten Group, Inc. (TSE: 4755) is a global technology leader in services that empower individuals, communities, businesses and society. Founded in Tokyo in 1997 as an online marketplace, Rakuten has expanded to offer services in e-commerce, fintech, digital content and telecommunications to 2.2 billion members around the world. The Rakuten Group has around 30,000 employees, and operations in 30 countries and regions. For more information visit https://global.rakuten.com/corp/.
About Rakuten Mobile
Rakuten Mobile, Inc. is a Rakuten Group company responsible for mobile communications, centered on its mobile network operator (MNO) business. Through continuous innovation and the deployment of advanced technology, Rakuten Mobile aims to redefine expectations in the mobile communications industry in order to provide appealing and convenient services for diverse customer needs. For more information on Rakuten Mobile visit https://corp.mobile.rakuten.co.jp/english/.
Forward Looking Statements
This communication contains “forward-looking statements” that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,” “will,” “would,” “potential,” “projects,” “predicts,” “continue,” or “should,” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile’s control and are difficult to predict.
Factors that could cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile’s strategies and future financial performance, including AST’s future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing of the launch of the Block 2 BlueBird satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST SpaceMobile’s ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile Service that would supersede preliminary agreements and memoranda of understanding and the ability to enter into commercial agreements with other parties or government entities; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile’s responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company’s filings with the Securities and Exchange Commission (SEC), including those in the Risk Factors section of AST SpaceMobile’s Form 10-K filed with the SEC on March 2, 2026, its Form 10-Q for the fiscal quarter ended March 31, 2026 filed with the SEC on May 11, 2026 and the future reports that it may file from time to time with the SEC.
AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile’s Form 10-K filed with the SEC on March 2, 2026, its Form 10-Q for the fiscal quarter ended March 31, 2026 filed with the SEC on May 11, 2026 and the future reports that it may file from time to time with the SEC. AST SpaceMobile’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Media Inquiries
Rakuten Group
Corporate Communications Department
global-pr@mail.rakuten.com
AST SpaceMobile
Allison Worldwide
AstSpaceMobile@allisonpr.com
Investor Contact:
Scott Wisniewski
investors@ast-science.com
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