ispace (TSE:9348) Construction In Progress: 円5,408 Mil (As of Mar. 2026)

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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:9348 ispace inc TSE:9348
63 GF Score
Price 円440.00
GF Value 円685.68
Valuation Possible Value Trap
! 4 Warning Signs
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What is ispace Construction In Progress?

ispace TSE:9348 -0.45% 63 Construction In Progress is 円5,408 Mil as of Mar. 2026. GuruFocus rates TSE:9348 with a GF Score™ of 63/100 and a GF Value™ of 円685.68 (Possible Value Trap). The stock has 4 warning signs investors should review.

ispace's quarterly construction in progress increased from Sep. 2025 (円4,275 Mil) to Dec. 2025 (円4,963 Mil) and increased from Dec. 2025 (円4,963 Mil) to Mar. 2026 (円5,408 Mil).

ispace's annual construction in progress increased from Mar. 2024 (円1,914 Mil) to Mar. 2025 (円4,012 Mil) and increased from Mar. 2025 (円4,012 Mil) to Mar. 2026 (円5,408 Mil).

ispace Construction In Progress Historical Data

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The historical data trend for ispace's Construction In Progress can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

ispace Construction In Progress Chart

ispace Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Construction In Progress
Get a 7-Day Free Trial 0.00 0.45 1,913.94 4,011.92 5,407.76

ispace Quarterly Data
Mar21 Mar22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Construction In Progress Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4,011.92 3,988.69 4,274.54 4,963.45 5,407.76
TSE:9348
63GF Score
ispace inc TSE:9348
Construction In Progress is just one metric. See GF Score™, valuation, warning signs, and more.
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ispace Construction In Progress Calculation

It records the cost of construction work, which is not yet completed (typically, applied to capital budget items). A construction in progress item is not depreciated until the asset is placed in service. Normally, upon completion, a construction in progress item is reclassified, and the reclassified asset is capitalized and depreciated.

What does a Construction In Progress of 円5,408 Mil mean?
ispace (TSE:9348) has a Construction In Progress of 円5,408 Mil as of Mar. 2026. Construction in Progress records the amount of construction work that is not complete. View historical data on ispace and its competitors.
Is ispace's Construction In Progress too high?
ispace's current Construction In Progress is 円5,408 Mil. Overall, ispace has a GF Score™ of 63/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does ispace's Construction In Progress compare to SNDK and DELL?
ispace's Construction In Progress of 円5,408 Mil can be compared against companies in the Hardware industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Construction In Progress for a Hardware company?
A good Construction In Progress depends on the Hardware industry context. However, Construction In Progress should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Construction In Progress mean?
A high Construction In Progress can signal that a stock is expensive relative to its fundamentals. Construction in Progress records the amount of construction work that is not complete. View historical data on ispace and its competitors. ispace's current Construction In Progress is 円5,408 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ispace stock overvalued right now?
Based on GuruFocus' analysis, ispace (TSE:9348) is currently considered Possible Value Trap. The stock's GF Value™ is 円685.68, compared to a current price of 円440.00 — trading 35.8% below its estimated fair value. The current Construction In Progress is 円5,408 Mil. ispace's overall GF Score™ is 63/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Construction In Progress calculated?
Construction In Progress is calculated from a company's financial statements. For ispace (TSE:9348), the current Construction In Progress is 円5,408 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is ispace (TSE:9348) Overvalued in 2026?

Based on GuruFocus' analysis, ispace stock appears to be undervalued. The current stock price of 円440.00 is trading 35.8% below its estimated GF Value™ of 円685.68. GuruFocus considers ispace to be Possible Value Trap.

Key valuation signals for TSE:9348:

  • Construction In Progress: 円5,408 Mil
  • GF Value™: 円685.68 vs. price of 円440.00 (35.8% below fair value)
  • GF Score™: 63/100 with 4 warning signs

No single metric tells the full story. See the TSE:9348 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

ispace Business Description

Other Exchanges IPCEF:USA7VO:Germany
Address 3-42-3 Nihonbashi-Hamacho, Chuo-ku, Tokyo, JPN, 103-0007
ispace inc is a private lunar robotic exploration company that is developing micro-robotic technology to provide a low-cost and frequent transportation service. It has developed a small lander (lunar lander) and a lunar exploration rover (lunar rover) for the purpose of providing frequent and low-cost transportation services to the moon.
63GF Score

Get the complete analysis for TSE:9348

Construction In Progress is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円440.00
Price
円685.68
GF Value