Japan’s SKY Perfect JSAT to invest $230 million in observation satellites

TOKYO (Reuters) – Japan’s SKY Perfect JSAT will invest about $230 million to build a constellation of low-Earth orbit satellites using U.S. company Planet Labs’ Pelican satellite, the company said on Wednesday.

JSAT will enter the Earth observation satellite business through the investment that will be carried out by its American subsidiary, the company said.

Shares in JSAT, the biggest broadcast and communication satellite operator in Asia, rose as much as 9% after the announcement.

(Reporting by Kantaro Komiya; Editing by Himani Sarkar)