Space One's Kairos rocket explodes just after liftoff in Japan

TOKYO -- Space One's maiden rocket launch failed on Wednesday in a setback for the company as it looks to become the first private venture in Japan to put a satellite into orbit and secure a slice of the fast-growing space business.

A live broadcast showed the rocket blasting off amid huge clouds of white smoke. But about five seconds later it exploded, sending fiery debris into the surrounding mountainous landscape in Kushimoto, Wakayama prefecture. Video footage appeared to show a fire breaking out on the ground and attempts to extinguish it.