A Tokyo-based startup Space One postponed the launch of a small rocket on Saturday for safety reasons after a ship was spotted in the "maritime warning area" set up in waters near the launch pad.

The company, funded by a large precision equipment manufacturer and others, was planning to launch its 18-meter solid-fuel propelled Kairos rocket at around 11 a.m. from a space facility in Kushimoto Town in Japan's western prefecture of Wakayama.

The company says no irregularities were found with the rocket nor at the launch site.

A new launch date has been set for March 13 or later, in order not to coincide with the return of Japanese astronaut Furukawa Satoshi to the Earth after completing his mission onboard the International Space Station.

Space One Executive Officer Abe Kozo says he regrets that the launch, which he wanted to achieve at all costs, was postponed. He says he wants to make sure the rocket will be successfully launched next time.

The rocket is scheduled to put a small government satellite into orbit.

If successful, the company will become the first Japanese private-sector firm to achieve such a feat on its own.