Tokyo-based Space One had initially scheduled liftoff for its Kairos rocket for 11:00 am (0200 GMT) on Saturday, but pushed the launch back 24 hours because of high wind speeds.
It postponed the launch again on Sunday because of similar weather conditions, Space One executive Kozo Abe told reporters.
"As it was the case yesterday, we assessed that the condition of high-altitude wind above the launch pad was not desirable. We made the decision to postpone the launch," he told a press conference.
He said the firm was in talks with authorities to set a new launch time, with Space One hoping it will be 11:00 am on Wednesday.
In March, the solid-fuel Kairos, carrying a small government test satellite, lifted off for the first time from the Space One launch pad, dubbed Spaceport Kii.
But seconds later, technical problems were detected and a self-destruct order was sent to the 18-metre (60-foot) rocket.
It erupted in flames, sending white smoke billowing around the remote mountainous area.
Hundreds of spectators, gathered at public viewing areas including a nearby waterfront, witnessed the dramatic scene.
In the second launch attempt, the rocket was supposed to carry five satellites, including one from the Taiwan Space Agency and others designed by Japanese students and corporate ventures.
Space One was founded in 2018 by major businesses including Canon Electronics, IHI Aerospace, construction firm Shimizu, and the government-run Development Bank of Japan.
The company is hoping to establish itself in a competitive international field by launching small rockets, quickly, for businesses seeking to put satellites into space.
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