Space One's Kairos exploded midair within seconds of its launch. The rocket was carrying a government satellite intended to temporarily replace intelligence satellites.

It developed it with technical cooperation from IHI Aerospace Co., producer of Japan’s flagship rocket Epsilon; Canon Electronics Inc., which makes rocket systems equipment; and other investors.

The Kairos rocket was developed by Tokyo-based startup Space One Co., which was established with investments from four companies, including Canon Electronics Inc. and IHI Aerospace Co. Space One ...