Wakayama, March 26 (Jiji Press) — Tokyo-based Space One Co. said Tuesday that it will build a launch complex for small rockets to carry satellites in the town of Kushimoto, Wakayama Prefecture, western Japan.

The space startup will be the first private company to have a rocket launch facility in Japan.

Space One plans to start operating the launch facility in fiscal 2021.

At a press conference at the Wakayama prefectural government office in the city of Wakayama, Space One President Shinichiro Ota said that the company aims to achieve the world’s shortest lead time of 12 months from the conclusion of a contract to the launch of a rocket.

“We hope to help improve access to space using small rockets that meet detailed needs from client companies,” he said.

Space One was established in July 2018 jointly by four firms, including Canon Electronics Inc. <7739> and IHI Aerospace Co.

Kushimoto was chosen for its launch complex site, because the town meets geographical conditions and was very enthusiastic about hosting the rocket launch complex, according to Space One.