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Annual Report 2022
Fiscal 2021 (Year ended March 2022)
Growth through the Power of Our People,
the Power of the Group
Let’s Create a New Future
03 Management Message
64 Foundations for Sustainable
Corporate Value Enhancement
12 The ANA Group Value Creation Process
12
14
16
18
The ANA Group DNA Inherited from Our Founder
The Source of Value Creation:
Living Our Code of Conduct and Maximizing Our Strengths
The Value Creation Process
Value Creation Approach: ESG Management
20 Business Strategy
22
30
36
Overview of Business Structure Reform Progress and
Fiscal 2022 Plan
Overview by Business
Special Feature: Enhancing Cargo Business Profitability
40 Medium- to Long-Term Value Creation
42
ANA Group ESG Management
46
Material Issues
66
70
76
78
80
92
96
Safety
Human Resources
Risk Management
Compliance
Corporate Governance
Trust Building with Stakeholders
Message from the Independent Outside Directors
100 Responsible Dialogue with Stakeholders
102 Financial / Data Section
Contents of This Report
The ANA Group (ANA HOLDINGS INC. and its consolidated subsidiaries) strives to create
social value and economic value, leveraging the strengths we have cultivated based on the
spirit of our founders. In so doing, we expect to generate sustainable growth in corporate
value.This report presents an overall picture of the philosophy and value creation handed
down over generations. We also address our business strategies for overcoming crises and
returning to growth, as well as medium- to long-term sustainability initiatives and the manage-
ment foundation that supports these corporate activities.
Editorial Policy
The ANA Group emphasizes proactive communication with stakeholders in all of our business
activities. In Annual Report 2022, we aim to encourage a deeper comprehensive understand-
ing of the social value and economic value created by the ANA Group through our manage-
ment strategies, our business, and our environmental, social, and governance (ESG)
activities. Further, we have published information on the activities we selected as being of
particular importance to the ANA Group and society in general. For more details, please visit
the ANA Group corporate website in conjunction with this report.
Scope of This Report
• This report covers business activities undertaken from April 1, 2021 to March 31, 2022
(including some activities in and after April 2022).
• In this report, “the ANA Group” and “the group” refer to ANA HOLDINGS INC. and its
consolidated subsidiaries.
• “The Company” in the text refers to ANA HOLDINGS INC.
• Any use of “ANA” alone in the text refers to ALL NIPPON AIRWAYS CO., LTD.
1
Mission Statement
Built on a foundation of security and trust,
“the wings within ourselves”
help to fulfill the hopes and
dreams of an interconnected world.
ANA Group Safety Principles
Safety is our promise to the public and is the foundation of our business.
Safety is assured by an integrated management system and mutual respect.
Safety is enhanced through individual performance and dedication.
Management Vision
It is our goal to be the world’s leading airline group
in customer satisfaction and value creation.
ANA’s Way
To live up to our motto of “Anshin, Attaka, Akaruku-genki!”
(Trustworthy, Heartwarming, Energetic!), we work with:
1. Safety
We always hold safety as our utmost priority, because it is
the foundation of our business.
2. Customer Orientation
We create the highest possible value for our customers
by viewing our actions from their perspective.
3. Social Responsibility
We are committed to contributing to a better,
more sustainable society with honesty and integrity.
4. Team Spirit
We respect the diversity of our colleagues and come together
as one team by engaging in direct, sincere and honest dialogue.
5. Endeavor
We endeavor to take on any challenge in the global market through
bold initiative and innovative spirit.
Management Message
KATANOZAKA Shinya
Chairman of the
Board of Directors
SHIBATA Koji
President &
Chief Executive Officer
To Our Stakeholders
In December of this year, our group will celebrate the historic milestone of the
70th anniversary of our founding.
Although the effects of the COVID-19 pandemic continue, we intend to pursue our
group mission statement by looking back to our founding principles and overcoming
this crisis and returning to a growth trajectory as soon as possible.
A willingness to endeavor in taking on any challenge is part of the ANA Group DNA,
which has helped us overcome many difficulties in the past. We aim to become an
airline group needed by the people of the world, while we hand our DNA onward to
the next generation.
2
3
Management Message
SHIBATA Koji
President &
Chief Executive Officer
I am committed to leading the ANA Group to
profitability for the first time in three years,
returning to growth in the medium term.
My name is SHIBATA Koji, and I assumed the position of president & chief executive officer on April 1, 2022. First,
I want to thank you, our stakeholders, for your support of the ANA Group. Safety is the foundation of ANA Group
management. As we remain focused on safety, we aim to become the airline group of choice by customers around
the world, based on our record of security and reliability.
During the seven years that my predecessor, Mr. Katanozaka, served as president, my role was to pursue group
growth through alliances with overseas airlines and through the execution of corporate strategies. During the first
four years, we achieved record-high operating income for four consecutive fiscal years by expanding our interna-
tional network, attracting visitors to Japan, and merging our LCC business. During the latter three years, and in the
face of the COVID-19 pandemic, we implemented decisive and unprecedented reforms, even while protecting
employee jobs.
In fiscal 2022, I believe my mission is to implement Business Structure Reform in a consistent manner to return
the Group to profitability for the first time in three fiscal years. At the same time, we will chart a growth trajectory
in the post-COVID-19 era. I am committed to leading the ANA Group to a new stage, responding swiftly to change in
an ever-changing business environment.
Fiscal 2021 in Review
Fiscal 2021 was the second year of the COVID-19 pandemic,
fiscal 2019, passenger volume was only 50% for domestic
and infections of the Delta and Omicron variants continued
flights and 10% for international flights. Even so, the fact
to increase. States of emergency were declared and priority
that we returned to profitability in terms of operating income
preventative measures undertaken in Japan to prevent the
gave our employees great confidence. I think this was the
greater spread of disease. At the same time, governments
moment we saw a glimpse of light at the end of the long
imposed severe restrictions on the movement of people to
tunnel of the COVID-19 pandemic.
and from foreign countries, including much tighter border
Demand for domestic flights slumped again in the begin-
measures and travel restrictions. While many employees
ning of 2022, mainly due to the expansion of Omicron
were anxious about the ongoing slump in business perfor-
variant infections. We recorded an operating loss for the
mance, we engaged in self-help efforts and an appropriate
second consecutive fiscal year, but thanks to various
shared sense of urgency about the company’s situation and
measures we implemented, we reduced the deficit to about
hope for the future.
one-third of the result in fiscal 2020. This was a year in
For example, we made decisions regarding whether to
which we realized that ANA Group resilience to the risk of
suspend or reduce flights on domestic flights by projecting
declining demand improved steadily through a series of
passenger demand several months into the future based on
actions, including Business Structure Reform.
vaccination rates and COVID-19 cases in Japan. Our pro-
In terms of finances, we issued ¥150.0 billion in convert-
jections led to greater precision in controlling supply and
ible bonds in December 2021 to provide funds for growth to
greater control of variable costs while seeking a recovery in
accelerate Business Structure Reform, as well as to secure
sales. We reduced costs by roughly 30% compared to fiscal
funds early for future debt redemptions and repayments.
2019 through cost structure reform. These reforms were
For the time being, we intend to continue solid financial
mainly a reduction in depreciation and maintenance costs
management to prepare against unforeseen circumstances
through early retirement of aircraft, particularly wide-body
during COVID-19. But we will review the level of liquidity on
models, as well as by reducing labor costs with the coop-
hand once we see a firm recovery in passenger demand,
eration of our employees.
including demand for international flights. At that point, we
In the process of these efforts, we returned to operating
will shrink our balance sheet to improve asset efficiency.
profitability in the third quarter of the year for the first time in
eight quarters. Compared to the pre-COVID-19 results of
4
5
Management Message
A Return to Full-Year Profit for the First Time in Three Fiscal Years in Fiscal 2022
Taking Over from the Previous President
During fiscal 2022, we intend to confront the risks in our
has the advantage of having maintained employment con-
The responsibility of a president is to pass the business
to improve customer satisfaction by pursuing quality with a
external environment, while leveraging a recovery in
sistently. Now, we will be able to expand capacity in line
down to the next generation. It is also important to identify
sense of urgency. At the same time, we will streamline our
demand as an opportunity to grow top-line revenues in our
with the pace of demand recovery.
what should be inherited, what should be transformed, and
business operations through labor savings, particularly at
aim to return to profitability. Many risk factors remain,
Further, we began to place the domestic specification
what should be created anew in response to the changing
airport counters. We are solidifying our foundations by
including the Russia-Ukraine situation, soaring crude oil
Boeing 777 aircraft into service in late June. These aircraft
times. One must also keep in mind that inheriting without
recruiting and training digital human resources and by
prices, depreciation of the yen, higher prices for goods, the
had been suspended for 16 months due to technical prob-
creativity is just form without substance. At the same time,
strengthening digital governance. At the same time, we are
Zero-COVID policy of the Chinese government, etc. We
lems with engines. These resources will help us capture
creativity that ignores past precedent is a poor form of
pursuing business process reforms that go beyond mere IT
must be agile and flexible in responding to and assessing
increasing passenger demand in the summer season. Going
management. At this point, I want to explain my thoughts
implementations.
the impact of changes in the operating environment on our
forward, we will pursue a recovery in top-line revenues to
about inheritance and creation.
group businesses.
move to the value creation stage.
There are three main initiatives that I inherited from former
The third point is to strengthen employee engagement.
Meanwhile, the with-COVID-19 lifestyle is becoming more
The ANA Group cost structure, solidified through
President Katanozaka that I intend to continue working on.
We consistently protected employee jobs throughout the
widely accepted in Japan. Restrictions on behavior by the
Business Structure Reform, now supports a lower break-
COVID-19. But in response to the rapid deterioration in
government and local authorities are being eased, and exter-
even point in the Air Transportation Business; much lower
The first is to pursue Business Structure Reform, formu-
business performance, we were forced to reduce monthly
nal restrictions on airline groups are being phased out. With
when compared with our pre-COVID-19 performance. We
lated at the end of October 2020, in a consistent and
wages and bonuses drastically, with the understanding of
Japan easing border measures beginning in March 2022,
intend to do everything possible to translate the recovery in
steady manner. The three major pillars of this reform were
the labor unions. It was extremely painful to think of the
passenger demand on international flights has finally started
revenues to profits, achieving our goals of posting bottom-
put together when I was in charge of formulating manage-
impact on our employees and their families. But we over-
to increase. Summer demand for domestic flights has recov-
line profit for the first time in three fiscal years and of secur-
ment strategies as a means to lead us out of the COVID-19
came this difficult period by communicating our hopes for
ered to between 70% and 80% of the pre-COVID-19 levels
ing free cash flow.
tunnel and back to growth. The short-term target of
the future, including approximately 2,700 town meetings,
for ANA and Peach combined passenger volume.
We regret to announce that, given our priority on rebuild-
resource reduction is already completed. We are now at the
which provided an opportunity for management to talk
While other countries have resumed normal travel activi-
ing the financial platform damaged so severely by the
stage of showing the results of reforms in the pursuit of the
directly with employees. As soon as we were able to fore-
ties ahead of Japan, many overseas airlines are facing the
pandemic, we do not intend to pay a fiscal 2022 dividend to
group airline model and the establishment of non-air busi-
cast profits under the fiscal 2022 budget, we decided to
challenge of recovering capacity to match demand due to
shareholders. However, we aim to create stable profits as
nesses looking ahead to the post-COVID-19 world. We will
return monthly wages to original levels beginning April
labor shortages. It takes considerable time and effort to
quickly as possible to allow payments of dividends in the
proceed with a sense of speed and link this momentum to
2022. We also resumed the payment of summer bonuses.
recall employees who were laid off during the pandemic and
future. And we are committed to achieving our medium-
the next medium-term corporate strategy.
We believe that the increase in expenses associated with
get them back to work in the field after training and other
term financial targets of ¥2 trillion in operating revenues,
(
P.22: Business Strategy)
processes. Regaining employee trust once lost is another
¥200 billion in operating income, and 10% in operating
challenge not easy to overcome. In contrast, the ANA Group
income margin.
these measures is not at odds with measures to improve
business performance. Rather, these expenses are neces-
The second point is to continue with cost management.
sary investments for returning to profitability in fiscal 2022
During the two years of the pandemic, we reduced fixed
and for returning to growth in the fiscal years beyond. The
costs substantially by retiring wide-body aircraft and by
reason we decided against paying a dividend under the
curbing personnel expenses. The next stage will be to once
fiscal 2022 plan, which we announced at the end of April,
again expand the scale of our business. But we plan to
is because we wanted to prioritize compensation for our
reduce unit cost (cost of available-seat kilometer) by keep-
employees first. But it is not just the compensation factor
ing the rate of increase in expenses below the rate of
that motivates our employees. During Golden Week and the
growth of capacity. Digital technology will be the key to
summer holiday travel season this year, airport staff were
achieving this goal. While our people will always play the
busy at work for the first time in quite a while. At the same
leading role in supporting the Air Transportation Business,
time, they were relieved to see customers return and were
we must harness the power of rapidly evolving technology
happy to see the airport back to its former vibrant state. We
to respond to changing customer needs for contactless
believe that when employees feel satisfaction in their work,
services. These and other applications will be how we sur-
understand their contribution to the company and society,
vive fierce competition in the post-COVID-19 world. ANA
and find meaning in their own existence, the result is cus-
Smart Travel is a new service model that we are expanding.
tomer satisfaction and increased corporate value.
This model encourages self-service and remote services
Therefore, we want to enhance employee satisfaction from
through the use of digital technology, expanding the number
multiple angles, including the creation of comfortable work
of tasks, such as online check-in, that customers can
environments and career enrichment.
handle themselves without airport staff. This will allow the
ANA Group to focus on services best provided by people,
which will enhance customer experience value. We intend
6
7
Management Message Management Message
Creation and Transformation in the Post-COVID-19 World
Next, I want to address three new areas that I intend to create
establish a group airline model to adapt to the post-COVID-19
and transform as president, with an eye toward a return to
world with a determination to capture every bit of recovering
growth over the medium term.
demand. We intend to pursue an optimal portfolio via three
brands: ANA as a full service carrier, Peach Aviation, which has
The first is the revitalization of the international business within
accumulated nearly 10 years of experience as an LCC, and the
our Air Transportation Business.
new AirJapan brand, which we announced in April. In this way,
I was born and raised on Kakeroma Island in the Amami
we plan to expand top-line revenues while meeting all passenger
Islands, about 450 kilometers from Kagoshima City. There was
needs. ANA and Peach have already begun to produce results
a large, quiet bay in front of the village where my house was.
through joint business planning and marketing efforts. The new
I often fished in that bay as a child. As I watched the many large
AirJapan is in preparations to launch service in the second half
cargo ships and passenger boats sailing offshore, I began to
of fiscal 2023, with plans to cover the growth markets of
dream of someday visiting a new world and having a career
Southeast Asia and Oceania as a new brand.
where I could travel overseas freely. During university, I took two
Even in the post-COVID-19 world, international business will
years off to work as a dispatcher at the Japanese Embassy in
remain a pillar of group growth. Targeting the world’s potential
Beijing. At that time, I saw ANA crew members on an interna-
customer base of 8 billion people, we will become more com-
tional charter flight at Beijing Airport, and I began to think that
petitive, supported by the strengths of our network and alli-
Japanese airlines would have to expand their international flight
ances, mobilizing all the international business knowledge and
networks if Japan were to become a more influential presence
expertise we have accumulated to expand our global
in the world. Subsequently, I applied to ANA for employment. In
market share.
1986, about four years after I joined ANA, the company began
to operate regularly scheduled international flights. I had been
The second point is to monetize our non-air businesses.
regularly involved in operations to solidify the foundation of
This year marks the 10th year since our group shifted to a
our international flights, including establishing branches in
holding company structure in April 2013. During this period, we
Washington, D.C. and Beijing. My work also involved building
have achieved results in terms of awareness reform through the
alliances with overseas carriers and formulating route networks,
independent management of each group company and rapid
so when the international business generated a profit for the
management through the delegation of authority. Meanwhile,
first time in fiscal 2004, I felt that my many years of hard work
since fiscal 2014, we have prioritized the allocation of resources
had paid off.
to the Air Transportation Business, as the external environment
With the subsequent internationalization of Haneda Airport,
continued to be a tailwind for the international business. Positive
the expansion of slots at airports in the Tokyo metropolitan area,
developments included the expansion of international slots at
and an increase in the number of inbound travelers to Japan in
Haneda Airport and the increase in inbound passengers to
connection with relaxed visa requirements, the international
Japan. As a result, the ANA Group profit structure became
business became a pillar of growth for the ANA Group. The
dependent on the Air Transportation Business for the majority of
number of visitors to Japan, which had increased to 31.88
consolidated profits. When faced with the COVID-19 pandemic,
million in 2019, declined sharply due to the COVID-19. But the
we saw passenger revenues decline, and we became acutely
number of passengers on international flights reached a low
aware of the risks of operating an airline business with a
point in March of this year and began to recover. And although
single focus.
the number of passengers in the first quarter was still about
Moving forward, we will place the highest priority on rebuild-
30% of the pre-COVID-19 levels, I am confident that demand
ing the Air Transportation Business as quickly as possible. At
for international flights will recover and expand again in the
the same time, however, we intend to build a business portfolio
medium term. That is because I believe face-to-face interac-
that will ensure an unshakable management foundation, even if
tions among people around the world and travel to new,
similar risks arise in the future. The customer data we have
unknown places are essential for the development of the global
accumulated over the years through the Air Transportation
economy and for people to lead more abundant lives.
Business is a valuable management resource unique to our
Looking back over history, we see several cases of global
company. We believe that a system for utilizing this data on a
pandemic that threatened humanity. But in each crisis, people
single platform will be effective in growing the earnings of our
have overcome the challenges by combining their wisdom and
non-air businesses. We will release Super App in the near
technologies. COVID-19 may never disappear completely, but it
future, which customers can use in their everyday lives. This
will subside eventually. In anticipation, the ANA Group will
app will leverage reward miles as a hook to encourage the use
of various products and services within the ANA Group. This
centralized point of contact with customers will encourage
customers to use ANA Group services, which will, in turn,
expand the ANA economic zone.
The ANA Group continues to take on the challenge of creat-
ing new value in avatars, metaverse, drones, flying cars, and
other diverse business areas related to aviation, mobility, and
travel. The metaverse business has been attracting a great deal
for our network coordinated closely to maximize marginal profit
of attention worldwide. Here, ANA NEO plans to launch the
per flight. They did so by forecasting revenues by the day and
ANA GranWhale service by the end of fiscal 2022. This service
by the flight, while carefully selecting aircraft type and sched-
will allow customers to experience travel and shopping in the
ules, in addition to reorganizing routes in a flexible manner. In
virtual world. This service is intended particularly for use by
our cargo business, which performed well during the year, the
overseas customers, and we expect to see an increase in the
director responsible for aircraft maintenance embraced the
value and recognition of the ANA brand globally. We also
catchphrase, “Don’t stop the cargo (freighters)!” emulating the
believe ANA GranWhale will stimulate real air travel demand by
movie, “Don’t Stop the Camera!” to squeeze every last bit of
motivating customers to visit Japan in person.
time out of our freighters. The group came together as one to
We have sown the seeds of many businesses: We intend to
modify maintenance plans and shorten turnaround times,
monetize these businesses as quickly as possible through the
contributing to the maximization of cargo business revenues.
appropriate allocation of management resources. At the same
When we decided to avoid the airspace over Russia due to the
time, we will seek the wider acceptance of non-air businesses
conflict in Ukraine, our flight operation department immediately
to create synergies that expand the base of customers who use
put a crisis management system into effect. Every department
ANA Group aircraft and accelerate profit expansion in the Air
affected responded in unison, and arrangements that normally
Transportation Business.
would have taken several months were completed in just a few
At the General Meeting of Shareholders held in June, we
days. The result was an operational structure that prioritized
welcomed MINEGISHI Masumi, chairman of Recruit Holdings
safety by rerouting flights.
Co., Ltd., as an outside director. We intend to leverage Mr.
In the end, the source of ANA Group comprehensive capabili-
Minegishi’s wealth of expertise and experience in the creation of
ties lies in our people and their individual commitment to
new businesses and engage in deeper internal discussions. In
Anshin, Attaka, Akaruku-genki! (Trustworthy, Heartwarming,
this way and others, we will bolster resilience using non-air busi-
Energetic!), as well as the organizational structure we have
nesses as another pillar of earnings, aiming to create an ANA
nurtured over time. Since fiscal 2020, the system for submitting
Group that is resistant to risk.
new service proposals by the sales division has given shape to
employee suggestions leading to new revenue. Suggestions
The third area is to maximize the power of our people.
have included sightseeing flights on Airbus A380s, in-flight
Through the course of various initiatives during the COVID-19
weddings, the Wings Restaurant (in-flight meals on parked
pandemic, I have become convinced that the strength of the
aircraft), and more. We expanded the system to the entire group
ANA Group is the power of our people, and that comprehensive
in fiscal 2021, receiving many ideas from employees represent-
capabilities of our group unites us across organizations. The Air
ing a wide cross section of jobs and age groups. Many of these
Transportation Business is built on pilots, flight attendants,
suggestions became the seeds for new plans, including a wed-
airport personnel, mechanics, and numerous other employees,
ding photo plan and a photography tour using maintenance
all of whom must demonstrate a high level of expertise and
training aircraft. Despite adversity, every member of the ANA
skills in their respective positions. Close cooperation among
Group continues to practice ANA’s Way, consisting of Safety,
different job categories is indispensable in offering high quality
Customer Orientation, Social Responsibility, Team Spirit, and
and services in terms of safety, on-time operations, comfort,
Endeavor. This spirit is our unique strength that cannot be
etc. The ANA Group emphasizes the spirit of Wakyo (harmony
expressed in a financial statement, but is special to ANA and is
and cooperation) handed down to us from the time of our
undoubtedly the greatest driving force in our pushing through
founding. This spirit encourages free and open-minded com-
the pandemic.
munications as we foster an organizational culture of discus-
We expanded secondments outside the group as a measure
sions and cooperation that transcend the boundaries of job
to protect employee jobs. As of July 1, more than 2,200 group
description, department, or company.
employees are currently or were formerly engaged in work at
The comprehensive capabilities of the ANA Group have led
outside companies and organizations. To respect the wishes of
directly to earnings growth under COVID-19. For example, in
the employees themselves, we have implemented an open
our international business, the revenue management teams of
recruitment system and set shorter secondment periods than
both passenger and cargo as well as departments responsible
usual when possible. But we are very happy to hear reports of
8
9
Management Message
In Closing
Since our very first days, the ANA Group has faced numer-
of our businesses, holding dialogues with employees about
ous challenges. Looking back at our history, we have over-
the kind of corporate group we should aim to become.
come many risk events, including the Tiananmen Square
During these discussions, I heard each employee’s vision of
incident in China in 1989, the 9/11 terrorist attacks in the
the ANA Group. We exchanged opinions in a frank and
United States, the Iraq War and SARS in 2003, the Lehman
open manner regarding what to change and what to protect
Shock in 2008, and the Great East Japan Earthquake in
to achieve this ideal. The next ANA Group medium-term
2011. But it has always been in times of crisis that we have
corporate strategy will reflect the collective thoughts of
pulled together to overcome every crisis and challenge. The
42,000 group employees. And as we define concrete mea-
driving force behind our success has been an indomitable
sures to reach this vision, we will also present to our stake-
spirit and passionate belief that we can create a new era.
holders a roadmap for a return to growth. Under this
This spirit is embodied in the phrase, Hardship Now, Yet
strategy, we will not only pursue profits but also pursue
Hope for the Future, which has been passed down to us
ESG management that considers non-financial factors such
since the company’s founding. Finding solutions through
as the global environment and social issues. We will aim to
wisdom and ingenuity in times of hardship is a part of our
grow as we create both social value and economic value.
DNA, inherited over our 70-year history. We of the current
As the top manager of the group, I will stand at the forefront
generation keep in mind the unceasing efforts of our prede-
and pave the way to the future, making the ANA Group an
cessors who have created the history of the ANA Group, a
indispensable presence for all stakeholders. We will connect
group that is resilient in the face of adversity. And now, we
innumerable people, goods, and services, exercising the
strive with hope and pride to add another footprint to our
wings within ourselves as espoused in our Mission
history, that of overcoming the COVID-19 pandemic.
Statement.
One of my core principles is Goson, which means mutual
I ask for your continued support and encouragement of
respect. I trace this feeling back to my childhood experi-
the ANA Group.
ence of living on an island, where residents had to live
together in close proximity. I try to always keep in mind that
as the top manager, I must never forget to respect the opin-
ions and thoughts of each employee. Immediately after
assuming the position of president, I visited the front lines
August 2022
SHIBATA Koji
President & Chief Executive Officer
the skills and expertise cultivated within the ANA Group being
ANA due to compensation or other considerations a path back
used to stimulate and influence employees and organizations
to the group where they can contribute the skills and knowledge
outside the group in a positive way. It goes without saying that
they have acquired elsewhere.
we have kept personnel expenses down thanks to the coopera-
Without question, our employees are the most important
tion of the companies and organizations that host our seconded
management resource of the ANA Group. Personnel expenses
employees. And we are even more pleased to hear that
are not just another cost, but an investment to achieve sustain-
employees who have completed their secondment apply the
able growth. The degree to which a company is able to utilize
experience they gained outside the group to their work after
its people determines its competitiveness to a great extent. The
returning home to ANA. These new experiences and values
ANA Group pursues human resources strategy closely linked to
have had a significant secondary effect in revitalizing our own
our corporate strategy. And we will step up our investments in
organization. We are considering a “comeback system” for
people to maximize the individual and teamwork capabilities of
fiscal 2022 to welcome former ANA Group employees as mid-
each employee as we practice the three elements of diversity,
career hires in a bid to utilize new human resources. In this
equity (fairness and equity), and inclusion (acceptance and
program we will offer opportunities for professionals who left
coexistence).
Our Vision over the Next 10 Years
The ANA Group began operations in 1952 with two helicopters.
issues as a fundamental part of our long-term business
This December will mark the 70th anniversary of our founding.
operations. We already set decarbonization targets for
We plan to take this opportunity to redefine the significance of
2050, and we will engage in backcasting and other mea-
the ANA Group (our purpose) in the post-COVID-19 world, as
sures to identify areas to overcome over the next 10 years
well as to reformulate our management vision.
as we work toward our targets in the next 30 years.
The widespread adoption of telework and online confer-
As part of our response to climate change, we disclosed
encing in the wake of COVID-19 has caused concerns
a scenario analysis in line with task force on climate-related
about a potential decline in the number of air travelers for
financial disclosure (TCFD) recommendations on our website
business purposes. But this trend would have arrived
in April 2022. Based on this analysis, we will continue to
sooner or later as a result of work-style reform and
engage in dialogue with stakeholders, delving deeper into
advances in technology. Now, will this diminish the value
analyses to respond appropriately to risks and opportunities
that the ANA Group offers? To the contrary, I believe the
that may arise in the future.
value of our Air Transportation Business will only increase.
In August, we formulated a transition scenario for achiev-
Online communications provide ease and efficiency in cer-
ing carbon neutrality by 2050. One of the most important
tain cases. But I am convinced that the intrinsic value in real
elements of this plan is the use of Sustainable Aviation Fuel
travel will gain a new appreciation. After all, experiencing a
(SAF), which is expected to have a significant effect on
place in person stimulates the five senses, while the plea-
CO2 reduction. At present, the global production of SAF is
sure of meeting face-to-face is an essential human desire.
limited, and production costs are high. However, in June
At the same time, there are risks in clinging solely to a
2022, the Ministry of Economy, Trade and Industry and the
conventional airline business model if we are to achieve
Ministry of Land, Infrastructure, Transport and Tourism
stable growth as the ANA Group. Moving forward, we
launched a joint public–private sector council to encourage
intend to leverage the brand quality, group human
the development and production of SAF in Japan. Certain
resources, and customer data assets we have cultivated in
Japanese companies have announced that they will
the Air Transportation Business to become an airline group
consider the commercialization of SAF, and we are seeing
that provides a full range of products and services related
a growing movement toward the early adoption of SAF
to mobility and lifetime customer value. Under our new
in air transportation.
management vision, we will create sustainable economic
The ANA Group is stepping up specific activities in collabo-
value through the shared values and efforts of a diverse
ration not only with the airline industry but also with other
base of human resources.
non-airline industries. And while we do not have the expertise
At the same time, we will confront social issues head-on.
to produce SAF on our own, we intend to lead cross-industry
Environmental issues are a major global challenge, and we
efforts in recognition of our significant role and responsibility
recognize the importance of addressing environmental
as an airline group in decarbonizing the skies.
10
11
11
Management Message
The ANA Group DNA Inherited from Our Founder
Core Beliefs
In 1952, two years after the ban on aircraft operations was lifted, we became the
first purely private airline company in Japan to begin operations. And we did so
with only two helicopters. From humble beginnings, our employees pooled their
wisdom, and through small jobs that included pesticide spraying and aerial pho-
tography, these pioneers pursued the dream of opening up new skies with their
own hands. The words of our founder, Hardship Now, Yet Hope for the Future,
expressed his belief that no matter how severe the hardship, one must not shrink,
but rather believe in a brighter future, striving, growing, and hoping for a time
when prosperity comes in leaps and bounds.
“Hardship Now,
Yet Hope for the Future”
“Wakyo”
(Close Cooperation)
Our Stance as Professionals
The phrase Wakyo means the belief in harmonizing without necessarily agreeing. We
reach Wakyo through genuine discussions and by working together to achieve our
goals. In line with the words of MIDORO Masuichi, our first president, we have made
the most of diverse personalities to exchange ideas openly. And we have built collective
strength as a group through the process of overcoming many adversities. Our second
president, OKAZAKI Kaheita, said, “Trust and love are the threads that weave a
beautiful world.” The aspiration behind this saying was to create a beautiful world by
spreading global harmony woven with trust and love.
“Trust and love are the
threads that weave a
beautiful world”
Our Corporate Vision
Even in the midst of postwar reconstruction, the founders of our company made it
their mission to contribute to the nation and to their community through their busi-
ness. They began to take on new challenges, believing in a future in which the
aviation industry would be in high demand. A Business with Integrity. A Resolute and
Independent Business. A Self-Reliant Business. These are the values of a company
responsible for public infrastructure and for contributing to the development of the
Japanese aviation industry through our own efforts, without bias to profit or defer-
ence to authority. This value of desire to contribute to society is still alive in the
hearts of our employees today through the spirit of endeavor in our Group DNA.
A Business with Integrity
A Resolute and Independent Business
A Self-Reliant Business
Not only seriously, but with passion and sincerity.
Anshin, Attaka, Akaruku-genki!
(Trustworthy, Heartwarming, Energetic!)
-ANA’s Way-
An unwavering commitment to safety as an airline group
Safety
Address each customer individually and identify the role
we must play to meet their needs
Customer Orientation
DNA Inherited
from Our
Forebears
As a company responsible for public infrastructure,
we must choose what is right for society, and not simply
what is right for our own interests
Social Responsibility
Respect each individual as a professional,
and work together to operate every flight flawlessly
Team Spirit
Believe in a brighter future, take on challenges, even in the
face of high odds, and continue to work hard and honestly
Endeavor
12
13
The ANA Group Value Creation Process The Source of Value Creation:
Living Our Code of Conduct and Maximizing Our Strengths
Building a corporate culture in which the source of value creation is
reaching higher to live our Code of Conduct and maximize our strengths
ANA’s Way is the ANA Group Code of Conduct. This code contains a philosophy that has been passed down over the
70 years since our founding. This philosophy is deeply ingrained in the hearts of every employee. Our diverse human
resources put ANA’s Way into practice and create value through their unique strengths, which they continue to hone under
frontline experience. The confidence and conviction gained in the process amplifies their mindset for their next actions.
This corporate culture repeats a virtuous cycle that is the powerful driving force moving our strategy forward.
Anshin, Attaka,
Akaruku-genki!
(Trustworthy, Heartwarming, Energetic!)
-ANA’s Way-
Safety
Putting the Code of
Conduct into Practice
Customer Orientation
Expanding Mindsets
Social Responsibility
Team Spirit
Endeavor
These Four Strengths Function in a Cycle, Driving Value Creation
Building a System to Support Earnings
(Employee Business Proposal System)
• New business proposals by employees: Da Vinci Camp
Maximizing the Power of People
• Recruit internally for external secondments and intra-group transfers
• The Future Creation Project: A project to foster change for employees on
• New service proposal system: Gattsuri Hiroba
the occasion of our 70th anniversary
Productivity Improvement / Efficiency Initiatives
• KAIZEN Activities
Cross-Organizational Collaboration
• Vaccine transportation
• Establishment of flight paths to bypass Russian airspace
• Initiatives to reduce CO2
Strengths Cultivated
A Spirit of
Challenge,
Never-Ending
Pursuit of the Best
Comprehensive
Capabilities,
Working Together to
Achieve Our Goals
Strengths Arising
from Experience on
the Front Lines
The Forces that
Drive Strategy
Strong
Relationships
with Our Stakeholders
Group Quality,
Building Even Higher
Levels
Strengths that Create New Value
Relationships with Local Communities and Partners
• Number of airports served: 103 (50 domestic, 53 overseas)
Air Transportation Business Quality
• SKYTRAX 5-Star rating
• Cooperative agreements with local governments in 12 prefectures
• CIRIUM ranked global No. 1 in on-time arrival rate
(as of June 2022)
(ANA Group, domestic and international routes, 2021)
• SAF Flight Initiative corporate program
• Cooperative educational agreements with schools
Relationships with Our Customers
• ANA Mileage Club members: Approximately 38 million
(as of March 2022)
Human Resources Quality
• Certified Health and Productivity Management Organization Program:
Oricon, Corporate Training Lecturer
ESG Quality
• Certified as an Eco-First Business (ANA)
• Included in ESG indexes, etc.
14
15
The ANA Group Value Creation Process The Value Creation Process
We will maximize the cycle of our four strengths, gener-
ated by each employee’s implementation of the Code of
Conduct, as we appropriately invest and allocate
management resources. We are implementing Business
Structure Reform and addressing four material issues to
contribute to the Sustainable Development Goals (SDGs)
of the UN. At the same time, we pursue sustainable
growth in corporate value.
ANA Group Management Resources
• Power of People willing to endeavor
• Fleet and Network connecting people
with each other
• Trust of our stakeholders
• Limited Natural Resources shared with
humankind
• Financial platform allowing us to
spread our wings
Anshin, Attaka,
Akaruku-genki!
(Trustworthy, Heartwarming, Energetic!)
-ANA’s Way-
Putting the Code of
Conduct into Practice
A Spirit of
Challenge,
Never-Ending
Pursuit of the Best
Comprehensive
Capabilities,
Working Together to
Achieve Our Goals
Founding
Spirit
Safety
Customer Orientation
Social Responsibility
Expanding Mindsets
Strengths Arising
from Experience on
the Front Lines
Team Spirit
Endeavor
Strong
Relationships
with Our Stakeholders
Group Quality,
Building Even Higher
Levels
Material Issues
Material Issues
Environment
ANA Group
ESG Management
Human
Rights
Sustainable Enhancement
in Corporate Value
through Simultaneous
Creation of Social and
Economic Value
Business Structure Reform
Medium- to
Long-Term
Initiatives
P.22 Overview of Business
P.42 ANA Group ESG Management
Structure Reform Progress
and Fiscal 2022 Plan
ESG Management
Initiatives and Target
Achievement
Regional
Revitalization
Diversity,
Equity, and
Inclusion (DEI)
Foundations for Sustainable Corporate Value Enhancement (Management)
Safety
Hygiene and Cleanliness
Human Resources
Corporate Governance
Based on our Mission Statement, our management foundation of safety, hygiene and cleanliness,
human resources, and corporate governance underpins all activities of the ANA Group and the
creation of corporate value. With this management foundation, we will continue to provide added
value to all stakeholders.
Mission Statement
P.64 Foundations for Sustainable Corporate Value Enhancement
16
17
The ANA Group Value Creation Process Value Creation Approach: ESG Management
To achieve sustainable enhancement of corporate value, the ANA Group implements short-term initiatives
(business strategies) in response to changes in the business environment and in social conditions. We
also engage in medium- to long-term initiatives (response to materialities) that define the ideal we hold for
ourselves, maintaining an awareness of both time horizons. In this way, we pursue social and economic
value simultaneously. In the midst of the COVID-19 pandemic, we continue to implement initiatives under
Business Structure Reform, and we plan to create our next ANA Group medium-term corporate strategy
by the end of fiscal 2022. We intend to move to a stage of further value creation by implementing key mea-
sures that reflect our strategies related to the environment (E), society (S), and governance (G).
2022
Short-Term Initiatives
Business Structure Reform
Priority Issues
1. Temporarily reduce scale of the Air
Transportation Business, mainly in
the ANA Brand, to overcome the
COVID-19 pandemic
2. Transform the business model of
our Air Transportation Business for
sustainable growth under the new
normal post-COVID-19 era
3. Establish a platform that utilizes
customer data assets to create new
revenue opportunities
l
F
o
r
m
u
a
t
i
o
n
o
f
M
a
t
e
r
i
a
l
i
t
y
Most Important Risk
Major Risks
Operating
Risks
Safety
(1) Infections
(2) Climate change
(3) International
situation
(4) System failures
(5) Information leakage
(6) Human rights
(7) Natural disasters
(8) Market volatility
(9) Investments
(10) Declining population
(11) Expansion of high-
speed rail networks
For more details: P.116 Operating Risks
18
ANA Group Value Creation (Examples)
Social value
Simultaneous Value Creation
Economic value
Provide smart, comfortable travel
Strengthen our competitive ability
Expand market share
Contribute to Japan as a tourism nation
Revitalize our regional tourism business
Stimulate new demand
Promote diversity and create societies that
respect human rights
Foster and utilize a
diverse employee base
Improve quality and service
Respond to the decline in the
domestic workforce
Generate efficiencies and
innovation through DX
Improve convenience and productivity
Create a decarbonized society
Pursue energy efficiencies
Control increases in fuel and
other expenses
Medium- to Long-Term Initiatives
Medium- to Long-Term Initiatives
Addressing Material Issues
Addressing Material Issues
Simultaneous creation of social value and economic value
Simultaneous creation of social value and economic value
2030
2050
Sustainable
Sustainable
Corporate
Corporate
Value
Value
Enhancement
Enhancement
Environment
• Reduce CO2 emissions
P.47 Transition Scenario for
Carbon Neutrality by 2050
• Reduce resource waste ratio
• Reduce food waste ratio
• Conserve biodiversity
2030
Medium-Term
Environmental
Targets
2050
Long-Term
Environmental
Targets
E
Regional
Revitalization
• Innovate to resolve
social issues
• Regional revitalization
through social contribution
and resolving social issues
Ongoing
initiatives
toward 2030
S
Diversity,
Equity, and
Inclusion (DEI)
• Promotion of universal services
• Develop human resources for
sustainable growth
• Strengthen governance structures
• Improving the effectiveness of the board of directors
• Disclose commitments of top management
• Increase diversity in board membership
• Disclosure of appropriate information and ensuring transparency
G
19
Next ANA Group
Next ANA Group
medium-term
medium-term
corporate strategy
corporate strategy
(to be finalized by the end of fiscal 2022)
(to be finalized by the end of fiscal 2022)
Human
Rights
• Respect human rights
• Engage in responsible
procurement
The ANA Group Value Creation Process
Business Strategy
The environment surrounding the ANA Group has changed
dramatically due to the impact of COVID-19.
To respond to a post-COVID-19 world, we intend to pursue further
Business Structure Reform to transform ourselves into a
resilient airline group and chart a growth trajectory that ties our
efforts to value creation.
Recommencement of ANA FLYING HONU
ANA FLYING HONU, an Airbus A380, returned to scheduled service for the first time in two years in July 2022.
Group employees will work in concert to refine the wings within ourselves, connecting the world through secure and safe travel.
20
21
Overview of Business Structure Reform Progress and Fiscal 2022 Plan
For the latest information, please refer to the following.
Financial Results Presentation:
https://www.ana.co.jp/group/en/investors/irdata/supplement/
Business Environment Surrounding the ANA Group
Medium-Term Response to the Post-COVID-19 Era
The management environment surrounding the airline industry
on a review of the ANA Group revenue and profit structure,
has changed dramatically due to the impact of COVID-19.
which is dependent on the Air Transportation Business, we
The sharp decline in passenger demand affected group
intend to formulate a new medium-term corporate strategy
business performance significantly. However, we have seen
with a view to returning to growth and transforming ourselves
signs of recovery worldwide since the beginning of 2022
into a more resilient airline group.
owing to the spread of vaccines and acceptance of the new
In this section, we will explain the progress of Business
normal. In the medium term, we expect demand to recover
Structure Reform and provide an overview of our plan for
gradually to pre-COVID-19 levels as economic activity
fiscal 2022.
* VFR: Visiting Friends and Relatives
resumes and other factors lead to further globalization.
We continue to pursue our Business Structure Reform looking ahead to the post-COVID-19 world.
In fiscal 2021, we undertook various reforms from both business and financial perspectives,
intent on returning to growth in the future.
FY2020
FY2021
FY2022 (Plan)
Theme
Emergency
response
measures
Implementation of Business Structure Reform
(formulated October 27, 2020)
New medium-term
corporate strategy
(plan)
At the same time, we assume that passenger demand and
Operating Revenues and Operating Income (Consolidated)
Adjust capacity to demand; optimize employee utilization and services
needs for air travel will change drastically in the wake of the
(¥ Billion)
COVID-19 pandemic. The composition of high unit price demand
is likely to contract. This demand, including business travel from
Japan, etc., had been the main target of the ANA Brand. On the
other hand, we expect the composition of low unit price
demand, such as leisure and VFR*, to expand. Customer prefer-
1,500
FY2020
FY2021
ences and needs will break from the past, with more emphasis
on non-personal / non-contact, hygiene, and simplicity.
To respond to these changes, the ANA Group created
Business Structure Reform in October 2020, under which we
have pursued various reforms. We continue to pursue a vari-
ety of measures such as aircraft and human resources. These
ongoing efforts include optimizing the Air Transportation
Business portfolio and introducing new service models tai-
lored to the new normal.
Amid these circumstances, we plan to accelerate our
response toward the post-COVID-19 era in fiscal 2022. At the
same time, we aim to increase top-line revenues in our pas-
senger businesses, striving to deliver bottom-line profit and
generate free cash flow for the first time in three years. Based
1,000
Operating Revenues
728.6
1,020.3
500
0
Operating Income
–464.7
–500
–173.1
50.0
vs.
FY2020
results
+514.7
FY2022
(Plan)
1,660.0
vs.
FY2020
results
+931.3
Comprehensive hygiene measures ANA Care Promise
Business
Business
Structure
Reform:
Three Pillars
1) Reduce
resources
(Fleet, HR)
Aircraft
retirement
(Additional)
2) Transform the business model of Air Transportation Business
3) Utilize customer data assets
Accelerate the speed of reform
Strengthen ANA/Peach collaboration
Prepare to launch AirJapan operations
Introduce ANA Smart Travel
Super App
Promote cost reductions and control capital expenditures
Secure sufficient cash on hand
Maintain level of cash on hand
Finance
Maintain financial base + Secure funds for growth
Subordinated
loans
Public offering
Convertible
bond
Consolidate assets
in the medium term
Business Structure Reform: Three Pillars
Short term
(1) Temporarily reduce scale of the Air Transportation Business, mainly in the ANA Brand, to overcome the
COVID-19 pandemic
(2) Transform the business model of our Air Transportation Business for sustainable growth under the new
normal of the post-COVID-19 era
Medium term
(3) Establish a platform that utilizes customer data assets to create new revenue opportunities
With the impact of the COVID-19 pandemic, we began emer-
In terms of finances, we strengthened our financial base
gency response measures in early 2020. These measures
through funds procurement from both financing and equity
included flexible adjustments of capacity in line with demand
sources. Our policy is to overcome the COVID-19 pandemic
trends, optimized personnel utilization, and comprehensive
while securing sufficient cash on hand. And our ability to gen-
hygiene measures. In October 2020, we created the Business
erate cash flow has been improving steadily, evidenced by our
Structure Reform plan to reform our group business structure
return to profitability in the third quarter of fiscal 2021. We will
looking ahead to post-COVID-19 growth.
maintain an accurate assessment of our business environ-
Our business-related reforms focused on addressing costs
ment, pursuing a plan to reduce total assets over the medium
based on the Three Pillars. Having improved the ANA Group
term and shift to more efficient financial management.
cost structure, we intend to link a fiscal 2022 top-line recovery
to the creation of new value as quickly as possible.
22
23
Business Strategy
Overview of Business Structure Reform Progress and Fiscal 2022 Plan
For more on ANA Smart Travel, see the following webpage.
https://www.ana.co.jp/en/jp/serviceinfo/ana-smart-travel/
Progress in Business Structural Reform
1
Resource Strategy
This section provides an overview of the progress in reforms targeting the airline’s key
resources: aircraft and human resources.
2
Group Airline Model
We are optimizing the Air Transportation Business portfolio and reforming service
models across the ANA Group.
Theme 1 Temporarily reduce the scale of the Air Transportation Business, mainly in the ANA Brand, to overcome the
Theme 2 Transform the business model of our Air Transportation Business for sustainable growth under the new normal of the
COVID-19 pandemic
post-COVID-19 era
1. Aircraft
Execute a flexible fleet strategy looking at demand trends
2. Human Resources
Pursue personnel systems in line with changes in the business
environment
Number of aircraft*1
Leveraging human resources (Approach)
Reduce
Expand
Changing customer needs = Hygiene and cleanliness,
self-service, personal
303
269
272
270
237
235
Additional retirement
Wide-body –2
Mid-body –3
285
–290
245–
250*2
New service model: ANA Smart Travel
Example) Airport = Smooth, stress-free transit for customers
In-flight = Relaxing spaces tailored to individual needs
Adapt capacity
structure to the
new normal
Implement
labor savings
via DX
1. Domestic Passenger Business
1) Strengthen collaboration between ANA and Peach
Create joint flight schedules
A
Cooperative marketing and sales
2. International Passenger Business
1) Fleet strategy to respond to passenger mixture
B
• Increase share of mid-body aircraft
2) Capture new demand on mid-range routes
C
• Launch AirJapan service in the second half of
fiscal 2023
Overall Concept of the Group Airline Model
(Passenger Business)
Domestic Business
International Business
Fares
B
Increase share of mid-body flights
3. Introduce ANA Smart Travel
1) Implement contactless services
D
• Improve online check-in procedures for domestic flights
2) Meet individual needs
A
Strengthen
cooperation
C
Launch
AirJapan
operations
34
35
35
35–45
End of FY
FY2019
FY2021
FY2022
(Plan)
FY2025
(Plan)
*1 Excludes aircraft retired and aircraft awaiting sale or lease return
*2 Includes AirJapan aircraft
ANA Brand
DX / Non-Air
• Pre-order of in-flight meals for international flights
Reduce 9,000 employees over 5 years
Leverage group human resources,
(End of FY2020 to the end of FY2025)
hire outside human resources, etc.
(to reduce food loss)
Implement a flexible fleet strategy while monitoring
passenger demand and class composition
Improve the competitiveness of group human resources
capabilities to meet post-COVID-19 customer needs
Enhance Customer Experience Value
Strengthen Competitiveness and Increase
Business Efficiency at the Same Time
Trunk routes Local routes Short-range Mid-range
Long-range
Flight distance
D
Introduce ANA Smart Travel
1. Aircraft
2. Human Resources
Our Domestic Passenger Business will strengthen cooperation
We have also released ANA Smart Travel, a new service
In response to the sharp decline in passenger demand, we
To respond to changing customer needs, we plan to introduce
between ANA and Peach. At the beginning of fiscal 2022, we
model under the ANA Brand. Here, we will improve online
determined to overcome the COVID-19 pandemic by tempo-
ANA Smart Travel as a new service model, adapting airport
began flights based on a joint schedule between ANA and
check-in procedures on ANA domestic flights to improve
rarily reducing the scale of the Air Transportation Business.
and in-flight services to the new normal. The number of
Peach. We will also collaborate in sales campaigns, fares, and
convenience, while also promoting contactless services.
We already retired aircraft, mainly wide-body models for inter-
employees in ANA Brand will decrease over the medium term.
other sales-related strategies.
Meanwhile, we will strengthen our response to individual
national business specifications, by the end of fiscal 2020. We
However, we plan to use group human resources and hire
The International Passenger Business will pursue a fleet
needs, including the pre-order of in-flight meals on ANA
plan to have 270 aircraft across the entire group at the end of
from outside the group for digital transformation (DX) and
strategy to respond to changes in passenger mixture. We
international flights.
fiscal 2022, which will represent a reduction of approximately
non-air businesses.
intend to increase the flight share of mid-body aircraft based
Through these efforts, we aim to improve customer
10% from our pre-COVID-19 fleet.
We will improve the competitiveness of group human
on the assumption that it will take time for high unit price
experience value, while strengthening the competitiveness for
Beginning fiscal 2023 onward, we plan to increase the
resources to meet customer needs in the post-COVID-19 era.
demand, mainly business travel, to return to pre-COVID-19
airline business and pursuing business efficiencies at the
number of aircraft again, having between 285 and 290 aircraft
across the group by the end of fiscal 2025. We intend to
implement a flexible fleet strategy while monitoring future
developments, including passenger demands and needs.
24
levels. In addition, to capture new demand on mid-range
same time.
routes in Asia and Oceania, AirJapan will begin service as a
new brand in the second half of fiscal 2023.
25
Business Strategy Overview of Business Structure Reform Progress and Fiscal 2022 Plan
Progress in Business Structural Reform
Assumptions for Passenger Demand in the Fiscal 2022 Plan (Announced April 28, 2022)
3
Non-Air Businesses
We are currently engaged in strengthening e-commerce sales and expanding services to
create a world in which people live in a mileage-based ecosystem.
Theme 3 Establish a platform that utilizes customer data assets to create new revenue opportunities
1. Basic Approach
Customer data assets
accumulated in the airline business
Number of ANA Mileage Club Members
38 million as of March 2022
Implement various measures to
create a world in which people
live in a mileage-based
ecosystem
Grow non-air revenues
Improve Group resilience
2. Monetization Process (Overall Concept)
3. Progress in Initiatives
Utilize websites and apps
Centralize points of
contact with customers
ANA
Economic Zone
Offer various
commercial products
Enhance of group
products and services
Utilize customer data
Secure more business
partnerships
Demand recovery and expansion in the
Air Transportation Business
FY2021
(Results)
1) Improved platform
a. Create a digital platform for Travel Services
b. Implement measures to encourage
customer travel
c. Launch various other services
FY2022
(Plan)
2) Achieve monetization by ramping up business
a. Release Super App by the end of 2022
b. Strengthen business foundation
Medium-
Term
Policies
3) Establish as a pillar of Group earnings
a. Increase revenues by securing more
business partnerships
b. Expand the ANA Economic Zone
We intend to expand revenues of non-air businesses by lever-
We made progress in the development of the platform
aging existing customer data assets to create a world in which
during fiscal 2021, laying the groundwork for monetization.
people live in a mileage-based ecosystem. The ANA Mileage
During fiscal 2022, we intend to monetize by ramping up
Club has approximately 38 million members worldwide, and
business, including the release of Super App.
our objective is to expand revenues of non-air businesses by
Underpinned by the recovery and expansion of airline
utilizing this customer data to enhance group resilience.
demand, we will encourage customer migration through and
The process for achieving monetization consists of creating
expansion of the ANA Economic Zone. In the medium term,
interactive customer hubs through websites and apps, and
we plan to establish the non-air businesses as a pillar of
then offering a variety of products and services. The ANA
group earnings.
Group intends to acquire business partners from outside the
group by strategically utilizing customer data in this process.
We have developed and are executing a business plan based on the following assumptions
regarding passenger demand.
FY2021 Results
FY2022 Assumptions
Domestic
Continued impact of travel restrictions
Demand recovered once the number of infections subsided
Wider acceptance of with-COVID-19 lifestyles
International
Weak demand for Japan inbound / outbound
Trilateral passenger demand recovered first
Gradual easing of travel restrictions globally
Quarterly Passenger Demand
[Index] ANA passenger volume prior to COVID-19 (Jan–Dec 2019) = 100
100
[Dom] FY2021 Results
[Int’l] FY2021 Results
FY2022 Plan
FY2022 Plan
ANA / Peach total to recover to
pre-COVID-19 levels in FY2022 1H
90
90
80
75
50
25
0
State of emergency declarations
(twice)
30
5
1Q
32
7
2Q
52
9
3Q
Priority preventative
measures
60
ANA domestic FY2022 avg. 80
45
11
4Q
25
30
35
40
ANA international FY2022 avg. 35
ANA / AirJapan total
to recover to pre-
COVID-19 levels by
the end of FY2023
1Q
2Q
3Q
4Q
*1 Figures represent ANA Brand only, not including Peach results and plans
*2 FY2022 plans are calculated based on Jan-Dec 2019 results under the same standards as the new revenue recognition
FY2021 Results
FY2022 Plan
1. Fiscal 2022 Plan
2. First-Quarter Status and Second-Quarter Outlook
On domestic flights, we project ANA Brand passenger volume
Demand for domestic flights steadily increased over the first
to average 80% of the pre-COVID-19 levels for the fiscal year.
quarter, mainly for leisure and return trips home. On interna-
This projection is based on the assumption that demand will
tional flights, demand to and from Japan increased due to the
increase beginning in summer with the wider acceptance of
relaxation of border measures by the government, as well as
with-COVID-19 lifestyles. With the recovery in leisure demand,
firm trilateral passenger demand between Asia and North America.
which has been slow, we expect the number of passengers
In the second quarter, we aim to boost demand further,
on domestic flights, including Peach, to recover to pre-
while closely monitoring trends in the number of infections.
COVID-19 levels in the first half of the fiscal year.
We expect to resume operations of wide-body Boeing 777
For international flights, we expect travel restrictions and
aircraft on domestic flights in phases. We plan to strengthen
entry restrictions to ease in stages around the world. We plan
efforts on international flights to capture demand for business
for ANA demand to recover for the full year, averaging 35% of
travel originating from Japan and for inbound travel to Japan
pre-COVID-19 levels over the fiscal year. We assume that
originating from overseas.
leisure demand will recover for certain routes; however, we
expect international passenger volume, including AirJapan, to
recover to pre-COVID-19 levels by the end of fiscal 2023.
26
27
Business Strategy
Overview of Business Structure Reform Progress and Fiscal 2022 Plan
Cost Management
Present Measures Anticipating a Return to Growth
The ANA Group implements consistent and comprehensive cost management to be cost-
competitive in the post-COVID-19 era.
After achieving profitability in fiscal 2022, we aim to return to growth while implementing the
ANA Group Mission Statement.
Cost Reductions
FY2021 Results*1
Breakdown
Reflected in FY2022 Guidance*1
Under COVID-19
With-COVID-19
Post-COVID-19
Variable
Costs
¥345.0 Bn
¥275.0 Bn
Impact of
controlling
capacity
¥70.0 Bn
Fixed
Costs*2
¥255.0 Bn
¥255.0 Bn
Reduction through
self-help efforts
Total
¥325.0 Bn
FY Plan
¥315.0 Bn
Control fixed cost increases while
recovering capacity
¥120.0 Bn
Increase of certain fixed costs reduced in the
previous year in line with capacity recovery
¥130.0 Bn
Impact of permanent cost reductions
FY2020 to FY2021
Business Structure Reform
FY2022
Full-Year Profitability
FY2023 and beyond
Sustainable Growth
Medium-Term
Corporate Strategy
Mission Statement:
The Wings Within Ourselves
Transform cost structure
looking at post-COVID-19
Recover top line and move
to the value creation stage
Structural reforms by DX
Invest in human resources
Respond to climate change
Create social value and
economic value
simultaneously
[Opportunities] Signs of demand recovery
Dom. 1) Acceptance of the new normal
2) Progress in vaccination
Int’l
3) Relaxation of border control
4) Approval and expansion of new drugs
Air Transportation Business:
Support the skies of the world through our comprehensive capabilities
[Risks] External environment
1) Continued impact of COVID-19
2) Soaring crude oil prices and yen depreciation
3) Ukraine and Russia issue
Non-Air Businesses:
Pursue group growth together with the Air Transportation Business
Transform into a resilient airline group
Total
¥600.0 Bn
*1 Versus FY2019 results
*2 Includes Employment Adjustment Subsidy
Improve unit costs (cost of ASK)
over the medium term
Management
Foundation
Safety
Hygiene and
Cleanliness
Human
Resources
Corporate
Governance
We have stepped up cost management since the impact of
expenses, as we accelerated aircraft retirements in wide-body
The past two years during the COVID-19 pandemic were a
human resources, and climate change, as we aim to create
the COVID-19 pandemic first began to emerge, implementing
and other models through the end of fiscal 2020.
phase of cost reforms. During fiscal 2022, we will move to a
social value and economic value simultaneously. We intend to
measures throughout the group.
Expenses tied to revenues and operations, etc., will increase
stage of value creation. The current external environment
transform ourselves into a resilient airline group with both
During fiscal 2020, we reduced costs by a total of ¥590.0
in fiscal 2022 compared with the previous year as we restore
remains uncertain given soaring crude oil prices and the
airline and non-air businesses on growth trajectories.
billion compared to fiscal 2019 results. In fiscal 2021, we
capacity in line with passenger demand. However, of the
Ukraine–Russia conflict. But we will face these risks and lever-
In December 2022, the ANA Group will celebrate our 70th
reduced costs by ¥600.0 billion compared to the previous
¥255.0 billion in fixed costs reduced in fiscal 2021, approxi-
age the recovery in demand as an opportunity to achieve
anniversary. On our way toward this historical milestone, we
year. Of this amount, we reduced ¥325.0 billion through self-
mately ¥130.0 billion are reductions we plan to sustain
profitability for the full year.
plan to formulate a new management vision for the post-
help efforts, exceeding our fiscal year plan.
permanently.
By the end of fiscal 2022, we expect to formulate our next
COVID-19 era. And as we aim to achieve sustainable
We reduced variable costs tied to revenues and operations
Even when we return to a growth trajectory in the future, we
medium-term corporate strategy. This strategy will reflect
growth, we will also put the ANA Group Mission Statement
through consistent and comprehensive management of rev-
plan to curb increases in fixed costs by utilizing external
responses to key ESG topics such as digital transformation,
into practice.
enues and expenses per flight in accordance with trends in
resources and other means. We will continue to improve unit
passenger and cargo demand. We reduced fixed costs,
cost steadily through thorough cost management.
mainly in depreciation and amortization and maintenance
28
29
Business Strategy
Business Strategy
Air Transportation Business
Modern Samurai:
Speeding efforts toward net
profits and medium-term
profit growth
INOUE Shinichi
Member of the Board of Directors
ANA HOLDINGS INC.
President & Chief Executive Officer
ALL NIPPON AIRWAYS CO., LTD.
In fiscal 2022, the ANA Group will work with undaunted deter-
mination, pursuing our mission to return to full-year profitability
and accelerating efforts to establish a business structure capa-
ble of generating sustainable and stable profits. Based on a firm
platform of safe flight operations, we will assess insights from
customers and maximize revenues, continuing unrelenting cost
controls. This year also happens to be the 70th anniversary of
ANA, and we are engaged in efforts to establish a sustainable
business structure with a view to the next 70 to 100 years.
In fiscal 2022, the third year of the COVID-19 pandemic,
travel sentiment on domestic flights has shown signs of recov-
ery following the lifting of priority preventative measures. At the
same time, demand on international flights is recovering rapidly
in the wake of easing border measures and increased trilateral
passenger demand. Our multi-brand strategy through ANA and
Peach will maximize earnings through an optimized sharing of
roles. Air cargo demand remains stable due to the impact of
ocean transportation congestion and other factors. We aim to
strengthen profitability through the best mix of passenger and
cargo businesses.
In services, we plan to deepen marketing strategy based in
customer experience value, responding to customer needs
from a customer-in mindset built on synergies between self-
service and digitalization and enhanced human services. And
we will continue to reduce fixed costs and improve productivity
through the use of digital technologies, all while we maintain
cost structure reforms at current speeds. Our response to ESG
management, particularly with regard to decarbonization,
encompasses national and inter-industry cooperation as we
aim to achieve our medium-term targets.
The title of this section includes the phrase Modern Samurai.
This company, which began with only two helicopters 70 years
ago, has always taken on challenges by being A Business with
Integrity, A Resolute and Independent Business, and A Self-Reliant
Business. In today’s terms, we are a group that embodies diversity,
equity, and inclusion (DEI), embracing diverse ways of thinking
to work together to achieve a single direction in contributing to
the world through engagement, passion, and determination.
In this 70th anniversary year, we will return to the foundations
of ANA, striving as one to work through this difficult situation.
30
Although the impact of the COVID-19 pandemic continued throughout fiscal 2021, we captured the phased recovery
in passenger demand and robust cargo demand to the greatest extent possible. As a result, Air Transportation
Business operating revenues amounted to ¥885.0 billion, an increase of 46.5% year on year, while operating loss
amounted to ¥162.9 billion, compared with operating loss of ¥447.8 billion in the previous fiscal year.
Our fiscal 2022 plan for the Air Transportation Business calls for operating revenues of ¥1,470.0 billion and operating
income of ¥52.0 billion. We aim to grow our top line, expanding capacity in a flexible manner as demand recovers.
ANA International Passenger Business
Recovering capacity in a flexible manner in conjunction with easing travel restrictions
in Japan and around the world
ANA International Passenger Business Results
Revenues
ASK
RPK
(Index) Fiscal 2017 = 100
125
100
75
50
25
0
2017
2018
2019
2020
2021
(FY)
32
12
11
Resumption of Airbus A380 FLYING HONU Service (Narita–Honolulu)
Fiscal 2021 in Review
Passenger demand remained significantly weak due to the
reemergence of COVID-19 infections and the outbreak of
mutant variants. However, business demand, mainly related to
overseas assignments, return trips to Japan, and a recovery in
demand in connections from Asia to North America resulted in
the shift of certain North American routes from Haneda to
Narita Airport in July. In this way, we made efforts to select
flexible routes and establish extra flights. In March 2022, we
suspended operations on the Haneda–London and Paris
routes due to the Russia–Ukraine crisis. We continued opera-
tions on the Haneda–Frankfurt and Narita–Brussels routes,
bypassing the airspace over Russia.
In terms of sales and services, we launched Face Express
on certain routes to and from Narita Airport in July. Face
Express is a new boarding procedure based on facial recogni-
tion technology. In February 2022, for certain routes departing
from Japan, we introduced ANA Travel Ready, a service that
facilitates boarding by allowing passengers to register and
confirm their travel documents online in advance. These are
just a few examples of our efforts to improve convenience that
will continue into the future.
As a result, passenger numbers for the ANA International
Passenger Business in fiscal 2021 was 0.82 million (up 93.2%
year on year), and operating revenues amounted to ¥70.1 billion
(up 56.8%).
Fiscal 2022 Business Policies
As travel restrictions ease around the world and transition to a
with-COVID-19 era, passenger demand in Japan is shifting into
a recovery phase in the wake of the gradual relaxation of entry
restrictions beginning in March 2022. We will closely monitor the
status of border control measures in each country and capture
business demand, which is recovering ahead of other types of
demand, as aggressively as possible. We will also capture
demand for connections between Asia and North America. At
the same time, we will strengthen efforts to gain leisure demand
on Hawaii routes and for passengers visiting Japan.
We plan to recover capacity through a flexible approach to
resuming or adding flight operations, while holding down
increases in operating costs. These measures will include
switching cargo flights operated using passenger aircraft to
passenger flights according to passenger demand trends.
31
Air Transportation Business
ANA Domestic Passenger Business
ANA Cargo and Mail Business
Maximizing revenues by utilizing wide-body aircraft to increase ASK and capture steadily
recovering demand
Maximizing the use of freighters and passenger aircraft (belly),
strengthening efforts to improve profitability
Fiscal 2021 in Review
Passenger demand on domestic flights was sluggish over the
first half of the year due to repeated state of emergency dec-
larations. After the lifting of the declarations in the third quar-
ter, we saw a trend toward recovery. However, demand
declined again in the fourth quarter due to the emergence of
the Omicron variant. As demand fluctuated depending on the
number of infections, we endeavored to maximize marginal
profit by adjusting the scale of operations flexibly, while adding
extra flights on weekends, during the year-end and New Year
holidays, and during spring break to capture recovering
demand. During the winter schedule beginning October 31,
we transferred some flights to Peach to optimize the route
network for the entire Group.
In terms of sales and services, we improved comfort by
introducing Boeing 787-9 aircraft for domestic routes in
December, featuring an upgraded specification that included
new seats with personal monitors. In addition, we captured
demand through a boarding campaign and in-flight services
tied to the animated TV series Demon Slayer: Kimetsu no
Yaiba. We also introduced two special-livery aircraft featuring
characters from the anime.
As a result, passenger numbers for the ANA Domestic
Passenger Business in fiscal 2021 amounted to 17.95 million
(up 41.9% year on year), and operating revenues amounted to
¥279.8 billion (up 37.8%).
Fiscal 2022 Business Policies
Since March 2022 and the lifting of priority preventative mea-
sures, demand has been recovering for both business and
leisure travel. We began using the domestic-specification Boeing
777 aircraft, which had been out of service since February 2021,
in late June 2022 after conducting the necessary repair work to
ensure safety. As with-COVID-19 is becoming a part of daily life,
we will capture as much demand as possible for leisure travel
and return trips that will increase during the summer season.
ANA Domestic Passenger Business Results
Revenues
ASK
RPK
(Index) Fiscal 2017 = 100
120
100
80
60
40
20
0
59
41
41
2017
2018
2019
2020
2021
(FY)
Boeing 787-9 Aircraft Seat with Personal Monitor
The First Aircraft with Demon Slayer: Kimetsu no Yaiba livery
©Koyoharu Gotoge / SHUEISHA, Aniplex, ufotable
ANA International Cargo Business Results
Revenues
ATK
RTK
(Index) Fiscal 2017 = 100
180
300
250
120
200
150
60
100
279
116
102
50
0
2017
2018
2019
2020
2021
(FY)
Fiscal 2021 in Review
In addition to the active demand for cargo due to the recovery
of the economy, the shift to air due to congestion in ocean
freight resulted in strong air cargo demand. We captured this
demand for the transportation of automobile-related compo-
nents, semiconductors, electronic devices, and vaccines and
other pharmaceuticals.
We introduced the Narita–Los Angeles route to our network
in April, the Narita–Hong Kong and Narita–Taipei routes in
October, and the Narita–Qingdao route in November. These
routes made the most of the Boeing 777F and other cargo-
only aircraft (freighters). In addition, we endeavored to capture
0
strong demand by using passenger aircraft for cargo flights
when needed.
As a result, ANA International Cargo volume in fiscal 2021
was 0.976 million tons (up 49.1% year on year), and operating
revenues amounted to a record high ¥328.7 billion (up
104.8%).
Fiscal 2022 Business Policies
Our plan assumes that the supply–demand balance will gradu-
ally ease over the second half of the year and beyond. This trend
will reflect the resumption of passenger flights and an easing in
ocean transport congestion. We plan to maintain and improve
profitability by continuing to make maximum use of freighters
while also establishing extra cargo flights using passenger air-
craft to secure capacity. We also plan to strengthen sales initia-
tives to capture high-unit-price products and large-lot demand.
Boeing 777F Aircraft
Cooperating in the Transport of COVID-19 Vaccines
Beginning in February 2021, ANA began transporting Pfizer’s COVID-
19 vaccine on the international route from Belgium in Europe to Japan
via DHL Global Forwarding Japan K.K. Existing guidelines were
upgraded for transportation at –70°C, and we increased dry ice load-
ing to ensure transport volume and guarantee quality. Since June
2021, we have been cooperating in the international transportation of
COVID-19 vaccines from Japan to various parts of Asia. In addition to
international transportation, we also provided air transportation for
vaccines within Japan, mainly to remote islands.
We will continue to cooperate in the transport and supply of COVID-19 vaccines, taking all possible measures to contrib-
ute to the rapid abatement of infections and to help create a society in which people live with peace of mind.
32
33
Business Strategy
Air Transportation Business
Non-Air Businesses
Stepping up efforts to establish a new earnings pillar next to the Air Transportation Business,
focusing on leveraging customer data assets
LCC (Peach Aviation)
Airline Related
Aggressively expanding domestic route network to capture more leisure and VFR* demand
Fiscal 2021 in Review
We opened the Kansai–Memanbetsu route in our network
in July and the Fukuoka–Ishigaki route in October. We con-
tinued to monitor the impact of the state of emergency
declarations and priority preventative measures. In August,
we began code-sharing and mileage partnership between
Peach and ANA on certain routes out of Narita and Chubu
airports, expanding options for ANA Brand customers and
improving convenience. Beginning with the winter schedule,
we transferred certain routes from ANA to Peach. In this
way, we worked to improve profitability while pursuing an
optimal Air Transportation Business portfolio for the Group
as a whole.
In terms of sales and services, we conducted several
campaigns to commemorate the 10th anniversary of Peach
flight service on March 1, 2022. These campaigns included
sales, limited-edition goods, and special events with col-
laborating companies. We also introduced the Tabi Kuji
ticket, which offers travelers a random destination available
via in-flight sales and special vending machines. The Tabi
Kuji ticket incorporates Peach points to be used for airline
tickets purchases to designated destinations, special mis-
sions at destinations, etc. With this new tool, we endeav-
ored to build demand through new travel experiences that
introduce an element of chance in destinations.
As a result, LCC passenger numbers in fiscal 2021
amounted to 4.26 million (up 105.1% year on year), and
operating revenues totaled to ¥37.8 billion (up 71.3%).
Fiscal 2022 Business Policies
We will improve aircraft utilization and expand our domestic
route network by increasing flights during early morning and
late-night time slots. In addition, we intend to improve con-
venience through a redesign of the Peach app, strengthen-
ing our efforts to capture leisure and VFR demand by
leveraging the effects of flight schedules formulated jointly
with ANA.
Meanwhile, international flights have been suspended
since April 2021. Operations on the Kansai–Incheon route
are resumed at the end of August 2022.
Going forward, we will resume flights gradually on routes
where we anticipate demand recovery, taking into account
the regulatory situation in each country.
LCC Results
Revenues
ASK
RPK
(Index) Fiscal 2017 = 100
150
100
50
0
67
48
43
2017
2018
2019
2020
2021
(FY)
We endeavored to increase revenues in fiscal 2021 by
Airline Related: Operating Revenues
expanding our product lineup for online sales of in-flight
meals and other products and services. However, the
decline in transaction volume for systems development work
due to investment restraints within the group resulted in
operating revenues of ¥206.8 billion (down 6.9% year on
year) and an operating loss of ¥0.6 billion (compared with
operating income of ¥3.6 billion in the previous fiscal year).
With the easing of travel restrictions in Japan and other
countries in fiscal 2022, we expect a gradual recovery in the
number of flights operated, including those by overseas
airlines. We plan to pursue efforts to recover and strengthen
profitability, mainly through contracts for ground handling
and other services.
(¥ Billions)
284.3
291.0
299.4
222.1
206.8
2017
2018
2019
2020
2021
(FY)
Notes: 1. The graph above includes ancillary revenues.
2. Figures prior to fiscal 2019 include Vanilla Air results.
Travel Services
All overseas travel projects of the ANA Group were can-
Travel Services: Operating Revenues
celed in fiscal 2021. In addition, domestic travel volume
declined compared to the previous fiscal year, when the Go
To Travel Campaign was in place and had a positive impact
(¥ Billions)
on performance.
On the other hand, the transfer of digital marketing and
other functions from within the group led to an increase in
contract revenues, resulting in operating revenues of ¥46.2
billion (up 2.7% year on year) and an operating loss of ¥2.1
billion (compared with an operating loss of ¥5.0 billion in
the previous fiscal year).
We will strengthen our efforts in fiscal 2022 to generate
businesses that leverage customer data, driven by ANA X
Inc. Here, our aim is to create a world in which people live
159.2
150.7
143.9
45.0
46.2
2017
2018
2019
2020
2021
(FY)
* VFR: Visiting Friends and Relatives
in a mileage-based ecosystem.
Trade and Retail
A New Form of Travel via Tabi Kuji
In fiscal 2021, the gradual recovery in passenger demand
Trade and Retail: Operating Revenues
led to sales increases at ANA FESTA, airport retail stores. In
addition, we saw an increase in transaction volume in our
electronics business in response to strong demand in the
semiconductor market. As a result, operating revenues
amounted to ¥81.6 billion (up 2.2% year on year), while
operating income came to ¥549 million (compared with an
operating loss of ¥4.2 billion in the previous fiscal year).
Passenger demand in fiscal 2022 is recovering on
domestic routes in response to the easing of travel restric-
tions and other factors.
We will work to improve profitability further, focusing on
the airport retail business.
(¥ Billions)
143.0
150.6
144.7
79.9
81.6
2017
2018
2019
2020
2021
(FY)
34
35
Business Strategy
Business Strategy
Special Feature
Enhancing Cargo
Business Profitability
Demand for air freight forwarding has been strong amid supply chain disruptions caused by
marine transportation congestion and growing in-home consumption. We began transporting
medical supplies (masks, protective clothing, hygiene products, and pharmaceuticals) in early
fiscal 2020. Thereafter, we loaded cargo in passenger aircraft and expanded freighter opera-
tions (cargo-only flights) to meet supply chain needs of customers, particularly in the automo-
tive, semiconductor, e-commerce, and pharmaceutical industries, where cargo movement is
very active.
By maximizing capacity using the ANA Group fleet of 11 freighters (two B777-F and nine
B767-300F) and capturing strong cargo demand, we posted a record high for international
cargo operating revenues in fiscal 2021. We expect cargo demand to continue to be strong,
particularly for automobiles and semiconductors. And we also assume that the supply-
demand balance will remain tight for the foreseeable future.
In this way, the ANA Group contributes to society, supporting daily lives and corporate activi-
ties by maintaining supply chains for various industries, including emergency transportation of
COVID-19 vaccines and other pharmaceuticals and medical equipment.
The ANA Group Cargo Business Model: Strengths of a Combination Carrier
The ANA Group is the only combination carrier in Japan that owns both passenger and freighter
aircraft. We seek to improve profits by taking advantage of our strengths in transporting oversize
cargo using our 11-freighter fleet and our extensive network of passenger flights to schedule
flight routes flexibly and adjust supply in response to demand trends.
1
Leveraging the Strengths of a Combination Carrier through Passenger and
Freighter Aircraft
Passenger Aircraft (Belly)
Freighters
Targets
Routes
Products
Small and Medium Size Market
Medium and Large Market
Extensive Network and
Number of Flights
Fresh Foods, Pharmaceuticals,
Small-Lot Cargo
Complementary Network Balance
Oversize and Special Cargo
Revenue
Maximization
Increase Revenues from
Passenger Flights
Increase Revenues
Using Freighters
2
Use Wide-Body Freighters to Secure Highly Profitable Supply Volume
between Japan and North America
Passenger Flights
Passenger Flights
Asia / China
Japan
North America
B767-300F Freighters
B777-F Freighters
While we secure supply between Japan and Asia using abundant belly space on passenger flights and B767-300F, we supple-
ment routes between Japan and North America, where supply is short on passenger belly space alone, using B777-F. During
the COVID-19 pandemic, we have scheduled more flights than before the pandemic since demand is particularly strong on
North American routes.
(Reference) Special cargo that can only be carried by wide-body freighters
Jet engines
Semiconductor manufacturing equipment
Racehorses
SUVs
MRI equipment
36
37
Special Feature
Initiatives for Sustainable Cargo Business Growth
To compensate for the decline in passenger revenues due to COVID-19, we introduced several mea-
sures to increase profits in the cargo business. In addition, we are pursuing initiatives to secure
stable revenues over the medium term in anticipation of a future easing in supply–demand balance.
1
Measures to Increase Revenues during the COVID-19 Pandemic
1. Consolidate Freighters in Narita
Improve operational efficiency by having freighters operate to/from Narita Airport (the Okinawa hub is transitioning to a new model
utilizing cargo space on passenger flights)
2. Expand the Number of Destinations Served by Freighters
Expand the number of destinations served by freighters and increase choices for flight routes, to schedule flights flexibly in
meeting demand and to secure greater revenues
New Routes
B767-300F (Nine aircraft) Fiscal 2020: Wuhan / Manila; Fiscal 2021: Beijing / Hangzhou
B777-F (Two aircraft)
Fiscal 2020: Frankfurt / Bangkok; Fiscal 2021: Los Angeles / Hong Kong / Taipei / Qingdao
3. Change Departure / Arrival Airports for Certain Passenger Flights
Change certain passenger flights on North American routes from Haneda to Narita to capture strong North America-Asia
trilateral cargo traffic (Washington, D.C., Houston, Vancouver, and Seattle routes)
4. Operate Cargo Flights Actively Utilizing Passenger Aircraft
TOYAMA Toshiaki
President
ANA Cargo Inc.
Message from the President of ANA Cargo Inc.
ANA Cargo Inc. began operations in April 2014. As the
manufacturing equipment and complete vehicles, we now
core company of the ANA Group cargo business, ANA
transport more special cargo than in the past, including
Cargo is responsible for cargo business strategy planning,
racehorses. Our aim is to provide services in which
development of transportation products and solutions,
customers feel confident in entrusting their cargo to ANA
sales, and airport operations.
Cargo for transport around the world.
Amid the prolonged spread of COVID-19, demand for air
Currently, we are working on Business Structure Reform
cargo transport increased in response to disruptions in the
in anticipation of the post-COVID-19 competitive environ-
supply chain caused by ocean shipping congestion. At the
ment. Measures include streamlining operations further
Maximize robust cargo demand by operating extra cargo-only flights using belly space on passenger aircraft
same time, semiconductor and automobile-related cargo
through facilities reorganization, improving transportation
2
Initiatives to Secure Stable Earnings over the Medium Term
1. Capture High-Unit-Price Commercial Goods through More Competitive Products
(Figures represent percentage increases in revenues from FY2019 to FY2021)
Strengthen sales of PRIO products (quick, reliable transport of special commercial goods), and expand the ratio of
high-value-added, high-unit-price cargo
Pharmaceuticals 9 times
Temperature-controlled
transportation
6 times
Semiconductor
manufacturing equipment
65 times
Complete vehicles 8 times
2. Expand Long-Term Contracts
Acquire long-term purchase contracts for freighter-operated flights coordinated with shipper supply chains
3. Improve Cost Competitiveness
movement was robust, as was demand for PCs and
quality, and strengthening our product lineup. We are also
e-commerce freight related to rising in-home consumption.
conducting business process reform by utilizing the latest
Under these circumstances, and as the only Japanese
digital technologies, and we will pursue digital transforma-
combination carrier owning both 11 freighters and passenger
tion by redesigning our systems in 2023 to improve cus-
aircraft, we are playing a part in maintaining the supply
tomer convenience and operating efficiencies. ANA Cargo
chains of nearly every industry by maximizing our resources.
is contributing to the SDGs, including efforts to decarbon-
We have scheduled numerous cargo flights and charter
ize cargo transportation through the use of sustainable
flights using freighters, as well as extra cargo flights using
aviation fuel (SAF).
passenger aircraft cargo space.
We will continue to refine our strengths as Japan’s only
Over the most recent two years of the pandemic, we
combination carrier with both cargo and passenger aircraft,
fulfilled our social mission as indispensable infrastructure by
and we will strive for a stable and growing business, even
transporting masks, protective clothing, and vaccines to
in the post-COVID-19 world. We look forward to your con-
halt the spread of infection.
tinued support.
In addition, we are expanding our handling of new trans-
port products. Besides the transport of semiconductor
Secure labor and worker savings by reviewing work flows associated with the consolidation of shed facilities at Narita Airport
Secure labor savings by using an AI-based revenue management system to maximize revenues by route
Customer Testimonials
Introduce Boeing 777-8F
We decided to replace two of the 20 B777-9 aircraft we originally announced for
introduction in 2014 with two B777-8F aircraft to secure resources for future
growth in the cargo business. The introduction is scheduled for fiscal 2028 or later.
The B777-8F is a state-of-the-art wide-body freighter that boasts the largest
cargo capacity of any twin-engine aircraft. At the same time, this aircraft features
reduced fuel consumption, CO2 emissions, and operating costs per ton compared
to conventional aircraft.
© Boeing
38
International Cargo Agent, Tokyo Area
We have enjoyed a long relationship with ANA Cargo, and over the past two years of the pandemic, we have become
even stronger cooperative partners. The number of international cargo flights, flexible aircraft operations, network, and
service quality remained stable throughout the pandemic, and ANA has been indispensable in maintaining supply chains
while meeting shipper demands. The outlook for materials procurement, packaging, production, etc., has been uncertain,
and the volume of cargo being shipped remains unstable. However, ANA Cargo, which operates both freighter and pas-
senger flights over a large network of direct flights from Japan, has been very convenient for us. The manager we work
with offers proposals tailored to our specific situation, which I find very reassuring. And while instabilities, such as the
situation in Ukraine and the port strike on the west coast of the U.S., are likely to continue, we believe ANA Cargo will be
an indispensable and important partner in maintaining supply chains across every industry.
39
Business Strategy
Medium- to Long-Term
Value Creation
The ANA Group strives to resolve social issues through our business
activities to continue to grow together with society.
We pursue our ideal future from a medium- to long-term perspec-
tive, aiming to create sustainable societies and enhance corporate
value as we implement our strategies steadily and
from a global viewpoint.
Toward Carbon Neutrality
ANA is building a foundation for Sustainable Aviation Fuel (SAF) procurement as we serve as a model of decarbonization to society.
In 2021, we launched the SAF Flight Initiative, and in 2022, we established ACT FOR SKY to accelerate our efforts toward net zero
CO2 emissions by fiscal 2050.
40
41
ANA Group ESG Management
The ANA Group pursues ESG management that considers the environment, society, and gov-
ernance from a global and long-term perspective transcending the boundaries of the group.
In this way, we contribute to resolving environmental and social issues through our busi-
nesses and continue to create value that will be an indispensable part of society in the future.
Through ESG-conscious business strategies, we create social value and economic value
simultaneously, and we embody the ANA Group Mission Statement, “Built on a foundation
of security and trust, the wings within ourselves help to fulfill the hopes and dreams of an
interconnected world.”
Creating Social Value and Economic Value in Parallel
For the ANA Group to create value sustainably, we must respond to long-term needs from a global perspective that includes environ-
mental and social issues (creation of social value), as well as implement strategies in both business and finance areas (creation of eco-
nomic value). To this end, we have identified and defined material issues to use as guidelines for ESG management. These material
issues are topics of common targets for three approaches: Social trends, mission statement and corporate strategy, and ANA Group
strengths. In addition, addressing these material issues is indispensable for short-term decision-making in these uncertain times. They
also serve as useful concepts for setting medium- and long-term goals. Further, these material issues are consistent with issues we
address on an ongoing basis under the ANA Group Management Vision and the ANA Group Mission Statement. At the same time,
these issues represent matters we must tackle head-on when formulating Business Structure Reform measures in response to the
COVID-19 pandemic and when discussing future medium-term management strategies.
Our strengths lie in the spirit of challenge, comprehensive capabilities, group quality, and strong relationships with shareholders—
strengths cultivated through a history of hard work and taking on all challenges. Leveraging these strengths and addressing material
issues, we strive to create sustainable societies and improve corporate value as an airline group that creates value needed for society in
our own unique way.
42
Identification of Materiality
We identified four material issues from the three perspectives of social trends, mission statement and corporate strategy, and ANA
Group strengths: (1) Environment; (2) Human Rights; (3) Regional Revitalization; and (4) Diversity, Equity, and Inclusion (DEI). We mapped
the identified issues on two axes, one representing the impact on group business (management axis) and one representing the impact
on the environment and society (society axis). We assigned a level of concern along the society axis, with those matters having a high
level of importance and impact identified as material issues. To scrutinize whether material issues were consistent with global affairs and
the environment as discussed in our corporate strategy, we continue to confirm suitability through discussions and information gathering
with internal and external stakeholders. We also engage in an ongoing process to identify any new material issues.
Schematic for
Identifying of Materiality
Checking links with the
ANA Group’s corporate
philosophy and strategy
Contribution to issue
resolution via group
business activity
Mission Statement
and Corporate Strategy
Material Issues
ANA Group
Strengths
Social Trends
Materiality Matrix
Extremely important
Human Rights
• Human rights violations
across the supply chain
DEI
• Diversity of customers and employees
Society
Axis
Consideration for
stakeholders /
Impact on the
environment
and society
Environment
• Climate change
• Environmental
pollution
Regional Revitalization
• Decline of Japanese regions
• Income / education disparity in
emerging countries
Determining
long-term issues in
global society
Management Axis
Extremely
important
Impact on the operations of the ANA Group
(Mission Statement, Management Vision, direction of corporate strategy,
business opportunities and risks)
The Four Identified Material Issues
For the ANA Group
For Society
Issue Recognition
Environment
• Controlling fuel costs
• Controlling the costs of future emission trading schemes
• Maintaining / improving evaluations by avoiding
environmental risk
• Reducing environmental footprint
Human Rights
• Maintaining / improving evaluations through avoiding
• Realizing a world that respects
human rights risk
human rights
Regional
Revitalization
• Improving profitability by generating new inbound
tourism demand
• Maintaining / improving profitability of domestic
airline business
• Improving profits of international airline business
• Revitalizing regional economies
• Promoting international exchange
Diversity,
Equity, and
Inclusion (DEI)
• Improving profitability by generating new demand
• Providing an issue resolution system to
strengthen capacity to respond to customers
• Realizing an inclusive society
P.46
P.56
P.58
P.60
43
Medium- to Long-Term Value Creation ANA Group ESG Management
ESG Management Promotion Cycle
Through our business, we pursue ESG management to contribute to resolv-
ing environmental and social issues and to continue creating value as a
company that will be an indispensable part of society in the future. Through
dialogue with stakeholders, we are able to understand the latest social
needs and changing interests and use this to evaluate the impact on busi-
ness and society. We then incorporate this information into our management
strategies and initiatives. We disclose our progress on our corporate website
and through other channels as necessary. At the same time, based on infor-
mation we disclose, we engage in deeper dialogue with our stakeholders.
We also report our progress and confirm the appropriateness of our initia-
tives in those discussions.
Through a cycle of dialogue, initiatives, and information disclosure, we
promote ESG management focusing on material issues to enhance corpo-
rate value and contribute to achieving sustainable societies.
Stakeholder
Dialogue
ANA Group ESG
Management
Promotion Cycle
Information
Disclosure
Progress
External
Dialogue
• Dialogue with experts on the environment
• Dialogue with experts on business and
human rights
• Dialogue with overseas ESG investors
Internal
Dialogue
• Internal discussions to promote
ESG management awareness
• Alignment with corporate strategy
P.92 Trust Building with Stakeholders
Non-Financial Information
Disclosure
Global standards are under development for sus-
tainability disclosures, including disclosures related
to climate change. We are also engaged actively in
disclosing the process and results of setting and
achieving targets related to ESG.
• Annual Report
- Progress, results related to material issues
- Information disclosures in line with the TCFD
recommendations
• Human Rights Report
• ANA SKY website
- ESG-related data
- Progress, results related to medium- to
long-term environmental targets
ESG Management Implementation Structure
The ANA Group established the Group ESG Management Promotion Committee in
accordance with Group ESG Management Promotion Committee Regulations. This com-
mittee, which operates under the guidance of the president and under the chairmanship
of the director in charge of group ESG management (CEPO: Chief ESG Promotion
Officer), consists of ANA HOLDINGS INC. and group directors, group company executive
officers, and the full-time Audit & Supervisory Board members of ANA HOLDINGS INC.
The committee discusses core policies and measures related to ESG management.
In addition, important issues directly related to management are submitted to the
Group Management Committee and reported to the Board of Directors and the
Audit & Supervisory Board. Based on these regulations, each Group company has
appointed an ESG Promotion Officer (EPO) as the person responsible for promoting
ESG management and participates as a member of the Group ESG Management
Promotion Committee, and each Group company and department has an ESG
Promotion Leader (EPL) to lead the ESG activities of their respective organization.
Matters discussed, resolved, and reported at the Board of Directors, Group
Management Committee, and Group ESG Management Promotion Committee are
shared and implemented throughout the entire Group in close collaboration with EPOs
and EPLs. We also hold EPL meetings twice a year to share information in a compre-
hensive manner and promote initiatives at each Group company and department.
ESG Management Implementation Structure
Board of Directors and Board of Corporate Auditors
Group Management Committee
President & Chief Executive Officer
Group ESG Management Promotion Committee
Chief ESG Promotion Officer (CEPO)
ESG Promotion Officer (EPO)
ESG Promotion Leader (EPL)
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o
m
p
a
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s
i
44
Material Issues
Specific Initiatives
Relevant SDGs
Environment
• Reduce CO2 emissions
• Reduce resource
waste ratio
• Reduce food waste ratio
• Conserve biodiversity
• Achieve ANA Group 2030 medium-term targets
and 2050 long-term environmental goals
• Disclose information in line with the TCFD
recommendations
2030
2050
• Contribute to biodiversity conservation through
initiatives such as those aimed at preventing
wildlife trafficking
Human Rights
• Respect human rights
• Engage in responsible
procurement
• Ensure respect for human rights based on the
United Nations Guiding Principles on Business
and Human Rights
• Thoroughly implement environment and human
rights-conscious procurement and build a
transparent supply chain
Regional
Revitalization
Diversity, Equity,
and Inclusion (DEI)
• Innovate to resolve
social issues
• Regional revitalization
through social
contribution and
resolving social issues
• New value creation through the use of avatars,
drones, MaaS, etc., and cross-industry
collaboration
• Contribute to regional revitalization through
social contribution activities and resolving social
issues
• Promotion of
universal services
• Develop human resources for
sustainable growth
• Respect the diversity of customers by promot-
ing universal services
• Develop human resources and a sustainable
2030
work environment, improve employee
productivity
2030
2030
Strengthen
Governance
Structures
Disclose
commitments of
top management
Increase diversity in
Board membership
Ensure appropriate
information disclosure
and transparency
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45
Medium- to Long-Term Value Creation
Medium- to Long-Term Value Creation
Material Issues
Environment
Please visit our corporate website for more:
https://www.ana.co.jp/group/en/csr/environment/
1
Reduce CO2 Emissions
Reduce CO2 Emissions from Aircraft Flight Operations
1 Reduce CO2 emissions
2 Reduce resource waste ratio
3 Reduce food waste ratio
4 Conserve biodiversity
The ANA Group has formulated a transition scenario toward achieving carbon neutrality by fiscal 2050.
In order to keep CO2 emissions below fiscal 2019 levels in 2030, we will work toward operational improvements and techno-
logical innovations for aircraft and other equipment. In addition, we will complete replacement of at least 10% of fuel with SAF
by 2030, and will convert our aviation fuel almost entirely to low-carbon fuels by 2050. For CO2 that cannot be completely
eliminated through transitioning to low-carbon fuels, we will use negative emissions technologies (NETs) to remove CO2, aiming
for carbon neutrality without relying on emissions trading.
Basic Approach
The ANA Group has introduced the ANA Group Environmental Principles and the ANA Group Environmental Policies, working to reduce our
environmental impact. We recognize that efforts to reduce our environmental impact and the conservation of biodiversity are important environ-
mental problems, and we are working to promote these through our business activities in recognition that they are management issues.
Progress and FY2021 Results: ANA Group 2050 Long-Term Environmental Goals and
2030 Medium-Term Environmental Targets
In 2021, we declared that we will achieve carbon neutrality by fiscal 2050 in our 2050 Long-Term Environmental Goals, and we formulated
the 2030 Medium-Term Environmental Targets as a roadmap for achieving this goal. We will promote initiatives to reduce our environmental
impact on both the medium and long term, using our fiscal 2019 results as a benchmark and monitoring their progress every year.
Initiatives
FY2030
FY2050
FY2021 Results
Targets
• Improve flight operations
• Adopt new aircraft technologies
• Shift to low-carbon aviation fuel, including
utilizing SAF*1
Aircraft
• Utilization of negative emissions technologies (NETs)
• Use of emission trading schemes
Below
FY2019 levels
(12.33 million tons),
net
Net zero
7.67 million tons
Reduce CO2
Emissions
External Environment
Necessary for Achieving Goals
• Stable supply of SAF (volume and price)
• Adopt new aircraft technologies (Development of electric and hydrogen airplanes, etc.)
• Establish an environment for the emissions trading market
• Energy conservation and renewal of aging facilities
and equipment
• Use of renewable energy
Non-
Aircraft
• Select Electric Vehicle (EVs) and Fuel Cell Vehicles
(FCVs) when upgrading airport vehicles
33%+ reduction
vs. FY2019
Net zero
25.1%
reduction
External Environment
Necessary for Achieving Goals
• Expansion of renewable energy supply
• Development of airport infrastructure to convert to EVs/FCVs
Reduce Resource Waste Ratio
(Plastics, Paper, etc.)
• Promote cargo plastic film (wrap) recycling
• Digitize paper resources (in-flight magazines,
timetables, travel brochures, and cargo air waybills)
• Replace disposable plastics for eco-friendly materials
70%+ reduction
(waste generated
vs. FY2019)
Zero waste ratio
69.1%
reduction
Reduce Food Waste Ratio
(Including In-Flight Meals, etc.)
• Monitor the disposal of in-flight and domestic
airport lounge meals and reevaluate loading
capacity
Less than 3.8%
waste ratio
(FY2019: 4.6%)
Less than 2.3%
waste ratio
(50% reduction vs. FY2019)
8%
Conserve Biodiversity
• Raise awareness to eradicate the wildlife trafficking trade in air transportation
• Environmental conservation programs to conserve biodiversity, etc.
Transition Scenario for Carbon Neutrality by 2050
(Ten thousands of t-CO2)
CO2 emissions if no action is taken
Scenario devised in consideration of our plan, the volume of
traffic supporting the Japanese government’s target of 60
million visitors to Japan, and the growth forecast for interna-
tional air demand published by the Air Transport Action Group*2
Effective CO2 emissions after implementation of 1), 2), and 3) measures
Effective CO2 emissions after implementation of all measures, including 4)
2020
2025
2030
2035
20402040
20452045
2050
2050
CO2
Reduction
1
2
Improve flight operations
and adopt new aircraft
technologies
Shift to low-carbon
aviation fuel,
including utilizing SAF
CO2
Offset
3
Use of emission
trading schemes
CO2
Removal
4
Utilization of negative
emissions technologies
(NETs)
2,000
1,500
1,000
500
0
–500
2030 Medium-Term
Environmental Targets
and 2050 Long-Term
Environmental Goals
Below FY2019 levels,
effective
Replace at least 10% of
fuel with SAF
Effective CO2
emissions
26%
15%
6.5%
3.5%
Net zero
Carbon negative by
use of NETs
100%
20%
70%
*2 Air Transport Action Group:
A research group on sustainability in
the airline industry, with involvement
from the International Air Transport
Association (IATA), aircraft manufac-
turers, and others
*1 Sustainable Aviation Fuel (SAF): Aviation fuel that is not produced from fossil fuels but from sustainable sources such as vegetable oils and animal fats.
2019
–1%
2030
2050
–10%
46
47
Environment
1
Improve Flight Operations and Adopt New Aircraft Technologies
Our Initiatives
In addition to SAF procurement and use, we are promoting public–private and cross-industry initiatives to build supply chains and
expand production volumes.
Flight Planning
Cruise
Descent
2019
• Signed an offtake agreement with U.S.-based SAF manufacturer LanzaTech, Inc. for medium-
to long-term supply, conducted a delivery flight of a new aircraft to Japan using SAF
Preparations for
SAF introduction
• Launched strategic alliance with Finland-based SAF manufacturer NESTE for medium- to
2020
long-term supply, procured commercial-scale SAF, launched first scheduled flights using
SAF departing from Haneda and Narita airports
Climb
Haneda Airport in the NEDO project
• Used domestically produced SAF manufactured by IHI Corporation for regular flights from
Use of SAF
Improve Flight Operations
We are working to reduce environmental impact by imple-
menting initiatives tailored to each stage of our operations.
Our actions to realize environmentally friendly flight operations
include fuel consumption improvement through engine wash-
ing, reduction of auxiliary power unit time use while aircraft are
parked, reduction of total aircraft weight, selection of optimum
altitude, speed, and route, devising energy-efficient operating
methods during climb, cruise, and descent, reduction of
thrust reverser usage after landing, single-engine taxiing,
post-flight review and data analysis, etc.
In addition, the Ministry of Land, Infrastructure, Transport
Renovation of Air Traffic Systems (CARATS), a long-term
vision, and the ANA Group is participating in discussions in
the MLIT’s program. The transformation of air traffic control
networks will not only improve safety and operational effi-
ciency but will also contribute to reducing CO2 emissions in an
environmentally friendly manner.
and Tourism (MLIT) has formulated Collaborative Actions for
Parking in Spot / Takeoff
Maintenance
Post Flight
Landing
For more information on what we are doing at each stage of our operations,
please refer to:
https://www.ana.co.jp/group/en/csr/environment/operating/
Adopt New Aircraft Technologies
We were the launch customer for the development of the
participating in joint research projects with these aircraft man-
highly fuel-efficient Boeing 787, which celebrated its 10th
ufacturers. When we determine that the social implementation
anniversary in service in 2021. As of the end of July 2022, the
of these technologies are in view, we will verify their effective-
Group operates 77 of these aircraft (B787-8/-9/10) and is
ness and reflect them in our plans.
actively introducing state-of-the-art aircraft such as the Airbus
A320neo and A321neo. As of the end of March 2022, 74.6%
of the Group’s aircraft (of jet aircraft) is fuel-efficient aircraft.
Furthermore, a final purchase agreement has been signed for
the introduction of Boeing 737-8 aircraft, scheduled for fiscal
2025 and thereafter.
© Boeing
Aircraft manufacturers are currently developing technologies
to fly on hydrogen and electricity, and the ANA Group is
B737-8
A320neo
2
Shift to Low-Carbon Aviation Fuel, Including Utilizing SAF
SAF is highly valued in positively contributing to the environment and so the ANA Group has placed its use at the center of our mea-
sures to reduce aircraft CO2 emissions. However, a large gap exists between the global demand for jet fuel and the current supply of
SAF. The stable supply of SAF is therefore an imminent challenge. To support the development of domestic SAF production, we have
been participating since 2011 in a project run by the New Energy and Industrial Technology Development Organization (NEDO).
Since then, we have been working to build a supply chain and promote the development and manufacture of SAF in anticipation of
increasing demand for the fuel.
48
2021
• Our carbon recycling business model* was selected by the Ministry of the Environment for
the “FY2021 Project to Promote the Creation of Circular Carbon Society Model through
CO2 Recycling,” and we launched a demonstration project in September in collaboration
with Toshiba Energy Systems & Solutions Corporation, Toshiba Corporation, Toyo
Engineering Corporation, Idemitsu Kosan Co., Ltd., and Japan CCS Co., Ltd.
• Participated in the Japanese government’s study group on carbon neutrality by 2050 for
the purpose of building a supply chain and manufacturing SAF in Japan
• Launched the SAF Flight Initiative: For the Next Generation (See next page for details)
• Established ACT FOR SKY, a cross-industrial voluntary organization, to commercialize,
promote, and expand the use of SAF produced in Japan
2022
• Participated in the Public-Private Council to Promote the Introduction of Sustainable
Aviation Fuel (SAF), which promotes the development and manufacture of SAF produced
in Japan, discusses issues and solutions for the establishment of a supply chain, and
promotes unified public–private action
* Carbon recycling business model: Power to Chemicals (P2C) is a carbon recycling technology that uses renewable energy and renewable hydrogen
to recycle CO2 into highly valuable materials that positively contribute to the environment. This not only reduces CO2 emissions but also contributes
greatly to the expansion of renewable energy.
Dissemination
throughout
society
ACT FOR SKY
On March 2, 2022, we jointly established ACT FOR SKY, a
in cooperation with various stakeholders, aiming for the devel-
voluntary organization working for the commercialization,
opment of Japan’s airline networks and the industry as a
promotion, and expansion of SAF produced in Japan, along-
whole, as well as the realization of a sustainable society.
side JGC HOLDINGS CORPORATION, REVO International
Inc., and Japan Airlines Co., Ltd.
As global SAF demand grows, a stable supply of domesti-
cally produced SAF is considered essential in Japan.
However, domestically produced SAF has not been commer-
cialized yet, and there is an urgent need to establish a stable
supply chain from procurement to SAF supply.
ACT FOR SKY, with “ACT” representing the cross-industry
cooperation and collaboration by companies committed to
taking action for these goals, aims to promote behavioral
change through transforming the awareness among citizens
and companies, while appealing to the importance of SAF,
carbon neutrality, and achieving a circular economy.
Since its establishment with 16 founding companies, more
and more companies have come to participate in the organi-
zation. ACT FOR SKY will work to promote and expand SAF
49
Medium- to Long-Term Value Creation
Environment
New Initiatives Utilizing SAF
SAF Flight Initiative
In October 2021, we launched SAF Flight Initiative: For the Next Generation, a new
program to work with customers to reduce CO2 emissions in the industrial value
chain, becoming the first in Asia to take this action. By utilizing SAF, we will con-
tribute to the reduction of CO2 emissions (Scope 3) by our customers in their cargo
transportation, employee business trips, etc., while aiming to improve the corpo-
rate value of each company involved and to achieve the mass production and
promotion of SAF, creating a virtuous cycle for the economy and the environment.
More details on the project, please refer to:
https://www.ana.co.jp/en/jp/brand/ana-future-promise/saf-flight-initiative/
3
Use of Emission Trading Schemes
Emission trading schemes (purchase of carbon credits) represent one of the available methods to offset CO2 emissions in the overall
global environment. We intend to use it as a short- to medium-term measure during the period when CO2 emissions cannot be fully
reduced through the implementation of the aforementioned initiatives. In the long term, we aim to achieve carbon neutrality without
relying on emission trading schemes.
4
Utilization of Negative Emissions Technologies (NETs)
Reduce CO2 Emissions from All Non-Aircraft Flight Operations
The ANA Group implements appropriate energy management
under the Act of the Rational Use of Energy of the Ministry of
using our energy management system ANA Eiims based on
Economy, Trade and Industry (METI). ANA has achieved S
our own Energy Management Standard. We reduced CO2
Class certification for six consecutive years since the estab-
emissions by 2% in fiscal 2021 compared to the previous
lishment of this class system. To achieve net zero CO2 non-
fiscal year. ANA and ANA Foods Co., Ltd. (Specified Business
aircraft emissions by fiscal 2050, we will work to reduce
Operators under the Act on the Rational Use of Energy)
energy consumption by fiscal 2030, focusing on the use of
achieved their target of annual energy reduction of at least 1%
electricity and vehicle fuel (gasoline and diesel fuel), which
in their fiscal 2020 results. As a result, they received the
accounts for the majority of our total emissions.
Excellence in Energy Efficiency Award (S Class) certification
We will systematically upgrade our facilities and equipment to energy-saving
devices. ANA Blue Base, the ANA Group comprehensive training center, ANA
Tonomachi Business Center, and ANA TELEMART Nagasaki Branch Call Center
have installed solar panels, and generate electricity from solar power. In addition,
Electricity
since fiscal 2020, some of our own facilities in the Osaka and Kyushu areas have
been purchasing an amount of CO2-free energy from electric power companies.
Since fiscal 2022, we have been introducing renewable energy and started use at
our Shiodome Office. We are now working to introduce renewable energy across
the ANA Group.
Solar Panels at ANA Blue Base
Vehicle Fuel
In addition to deepening energy-saving measures, we are gradually upgrading our airport vehicles to hybrid vehicles (HVs), electric vehicles
(EVs), and fuel cell vehicles (FCVs). We will make the switch to EVs and FCVs from all vehicles (ones that use gasoline) by fiscal 2030.
The ANA Group plans to neutralize 1% of CO2 emitted by
Climeworks in March 2022 to evaluate the potential purchase
aircraft operations by 2030 and 10% by 2050 through utilizing
of high-quality, permanent carbon removal via Climeworks,
We promote the 3Rs (Reduce, Reuse, and Recycle) and are working to reduce our resources waste ratio. We encourage use
Negative Emissions Technologies (NETs) such as direct air
service in the near future.
reduction and recycling, especially of plastics and paper.
2
Reduce Resource Waste Ratio (Plastics, Paper, etc.)
capture* and storage (DAC+S) that actively remove historic
ANA will continue to promote the decarbonization and
and residual CO2 emissions from the atmosphere.
sustainability of the aviation industry.
In addition, the ANA Group also plans to utilize air-captured
CO2 as a raw material for aviation fuel. As a first step in this
process, we signed a Memorandum of Understanding with
* Direct air capture (DAC): Technology to capture CO2 directly from the atmosphere.
Climeworks AG
Climeworks empowers people to reverse climate change by perma-
nently removing carbon dioxide from the air.
One of two things happens to the Climeworks air-captured carbon
dioxide: either it is returned to earth, stored safely and permanently
away for millions of years, or it is upcycled into climate-friendly products
such as carbon-neutral fuels and materials.
The Climeworks direct air capture technology runs exclusively on
clean energy, and the modular CO2 collectors can be stacked to build
machines of any capacity.
50
Reduce the Use of Plastics
We are progressively replacing plastic products used in airport lounges and on flights with
eco-friendly materials. Since August 2021, we have changed the containers for economy
class in-flight meals on international flights to plant-derived materials, resulting in a reduction
of approximately 317 tons of disposable plastic (compared to fiscal 2019). In addition, as of
October 2021, we no longer provide plastic bags for baggage packaging used at airports,
resulting in a reduction of approximately 94 tons of disposal plastic per year.
Reduce Paper Resources
We are taking a number of actions to reduce paper
resources. As an example, from April 2021, the ANA Group’s
in-flight magazine TSUBASA -GLOBAL WINGS- and maga-
zines and newspapers for in-flight services have been
replaced with a new service that allows customers to use
them on their own digital devices through the ANA app.
51
Medium- to Long-Term Value Creation
Environment
3
Reduce Food Waste Ratio (In-Flight / Airport Lounge Meals, etc.)
4
Conserve Biodiversity
The ANA Group is working to reduce our food waste ratio such as in-flight meals.
Reduce Food Waste Ratio In-Flight and at Domestic Airport Lounges
We recognize that addressing biodiversity is an important environmental issue and have been taking actions toward biodiversity
conservation since 2004. In addition, since May 2022 we have been supporting the World Wildlife Fund (WWF)’s environmental
conservation activities and promoting biodiversity conservation activities as a corporate member of WWF Japan.
When it comes to loading in-flight meals, we check the number of reservations up to the last minute before departure, working
Organizing Seminars to Eradicate Wildlife Trafficking
to ensure that as little as possible is wasted on each flight to the extent that it does not affect on-time operations.
Food Loss Initiatives
As an initiative against food loss, we utilize food waste
generated in cooking. ANA Catering Service Co., Ltd.
(ANAC), which manufactures in-flight meals for ANA,
recycles 100% of food waste from the cooking process
into compost and animal feed. As a recycling initiative
using this waste effectively in-house, soft kale grown
using compost derived from cooking food waste
generated at ANAC’s Narita factory is provided in
salads served in economy class on international flights
from March 2022. This soft kale is in salads provided
on flights departing from Japan, excluding flights to
mainland China, Taipei, Hong Kong, Manila, Seoul,
and late-night flights.
We will continue to make effective use of recycling
mechanisms for cooking food waste recycling system
and contribute to the achievement of the SDGs.
Cooking food
waste generated
at the factory
Served in in-flight meals
Collecting food
waste
Cooking Food
Waste Recycling
System
Growing soft kale using
compost
Initiatives to Reduce Environmental Impact
Carbon Offset Program
Since fiscal 2019, the ANA Group offers the ANA Carbon Offset Program for each class on domestic and international
routes. This program is a mechanism that provides customers with opportunities to offset the amount of CO2 emitted by
their aircraft. We select offset programs that meet global certification standards.
For more details on the project, please refer to:
https://www.ana.bluedotgreen.co.jp/en/home
Eco-First Certified Company
In 2008, ANA became the first in the transportation industry and the first airline to become a certified
Eco-First Company. We received this honor in recognition of our environmental initiatives and corpo-
rate stance that emphasizes social responsibility, and are working toward achieving a sustainable
society. In March 2022, we updated our Eco-First Promise for protecting the global environment as
an environmentally advanced company to reflect our medium- and long-term environmental goals.
For the Eco-First Promise (in Japanese only), please visit:
https://www.ana.co.jp/group/csr/environment/pdf/eco_first_2203.pdf
Composting
Supporting Amami Oshima, Tokunoshima, Northern Okinawa, and Iriomote Island as World
In March 2018, ANA became the first Japanese airline to sign the Buckingham Palace Declaration,
which aims to eradicate wildlife trafficking as recommended by IATA. Since fiscal 2018, we have been
conducting seminars using educational textbooks supervised by ROUTES*1 in collaboration with
TRAFFIC*2 as awareness-raising activities for group employees. Beginning in fiscal 2019, we have been
consistently working to raise awareness both internally and externally in a joint effort with Narita
International Airport Corporation.
*1 ROUTES: An international collaborative platform for dealing with criminal activities involving the trafficking of wild animals.
*2 TRAFFIC: An international NGO that surveys and monitors wildlife trafficking. Established as a joint project between the WWF and International Union
for Conservation of Nature (IUCN)
Airport Training Handbook
Team Chura Sango Coral Reef Conservation Project in Onna Village, Okinawa
Team Chura Sango is a coral reef conservation project by Onna Village, Okinawa Prefecture, with par-
ticipation from the ANA Group since 2004. With the support of the Ministry of the Environment,
Okinawa Prefecture, and Onna Village, we work to plant coral seedlings and conduct educational activi-
ties in and outside Okinawa Prefecture alongside local stakeholders. Mile donations from ANA Mileage
Club members help pay for coral seedling costs and activity expenses, with a cumulative total of
around 4,000 participants helping to plant 16,106 seedlings.
Planting Coral Seedlings
Natural Heritage Sites
Since fiscal 2017, we have supported the registration of Amami Oshima Island, Tokunoshima Island,
the northern part of Okinawa Island, and Iriomote Island as World Natural Heritage sites. Here, we
mainly engage in volunteering by group employees who help to remove invasive plant species that
significantly harm the ecosystem within Yambaru National Park, like bitter vine, under the direction of
rangers from the Ministry of the Environment. Since fiscal 2021, we have also been providing new
support for the preservation of the Iriomote Cat in western Iriomote Island.
ANA Forest of the Heart Project
As part of volunteer activities by group employees across Japan, we have been carrying out the ANA
Forest of the Heart Project since July 2012 in Minami Sanriku, Miyagi Prefecture, to support recon-
struction and forest conservation. We aim to regenerate forests through appropriate thinning and stew-
ardship, and the thinned wood is commercialized and sold at local mills.
Invasive Plant Removal
Volunteers
Deer Repellent Work
(Protecting Bark)
Information Disclosure on Responding to Climate Change
CDP
We disclose information on corporate
strategies for CO2 emissions and
climate change.
Science Based Targets
(SBT) Initiative
These are greenhouse gas reduction
targets based on scientific evidence
consistent with the Paris Agreement.
In January 2022, we submitted our
reduction targets based on SBT
guidance.
TCFD
We analyze the risks and opportuni-
ties that climate change poses to the
ANA Group’s Air Transportation
Business and disclose information in
accordance with the guidelines.
(See next page for details)
52
53
Medium- to Long-Term Value Creation Environment
Disclosures in Line with the
TCFD Recommendations
In March 2019, the ANA Group became the first Japanese airline to endorse the recom-
mendations of the Task Force on Climate-related Financial Disclosures (TCFD), established
by the Financial Stability Board. We disclose information in accordance with the four items
required by the TCFD recommendations: Governance, Strategy, Risk Management, and
Metrics and Targets. We will continue to enhance our disclosure content in line with the
TCFD framework.
Please visit our corporate website for more on disclosure based on TCFD
recommendations:
https://www.ana.co.jp/group/en/csr/environment/goal/
Strategy
We carried out scenario analysis based on the 4°C and 1.5°C
scenarios provided by the United Nations Intergovernmental
Panel on Climate Change (IPCC) and the International Energy
Agency (IEA) to identify risks and opportunities that climate
change poses to the ANA Group’s Air Transportation Business
and to examine the impact on revenues and expenses as well
as countermeasures. The analysis covers the period from
2030 to 2050, as set forth in the ANA Group’s medium- to
long-term environmental targets.
4°C scenario:
A scenario in which, by not taking measures to combat global warming
beyond the status quo, temperatures rise about 4°C above pre-industrial
levels, and risks related to physical changes caused by climate change
become apparent
1.5°C scenario:
A scenario in which a fundamental system transition is achieved,
resulting in a temperature increase of less than 1.5°C above pre-
industrial levels, and risks related to the transition to a low-carbon
economy become apparent
Description of Opportunity / Risk
Impact on
Revenues and
Expenses*1
Action Plans
and consists of group company directors and executive offi-
Group Management Committee
Board of Directors and Board of Corporate Auditors
Submit agenda /
Report
Submit agenda /
Report
Increasing Severity and
Frequency of
Extreme Weather
• Increased operational costs due to severe
natural disasters
• Increased cost of restoration from damage to aircraft and
facilities due to disasters
Physical
Risks
Propose management issues
ANA HOLDINGS INC.
President & Chief Executive Officer
Overall
management
Changes in Rainfall and
Weather Patterns
• Decreased revenues due to difficulty in maintaining flight
operations to affected areas
Actions to Reduce CO2 Emissions (Aircraft)
• Establishing a more advanced BCP
• Upgrading to disaster-resistant facilities, equipment, etc.
• Determining destinations, number of flights, etc., and
appropriate reflection in business plans
Large
Medium
Group ESG Management Promotion Committee
Chief ESG Promotion Officer (CEPO)
—SAF
Instruction / Supervision
Eco-First Subcommittee
Ground Energy Subcommittee
Instruction
ESG Promotion Officer
(EPO)
ESG Promotion Leader
(EPL)
Cross-
coordination
Environment Officer
Group Companies and Departments
Transition
Metrics and Targets
In 2021, the ANA Group formulated the 2030 Medium-Term
Environmental Targets and the 2050 Long-Term Environmental
Goals. We are currently strengthening our efforts to achieve
our goal of net zero CO2 emissions by fiscal 2050.
• Concern about increased costs due to higher SAF prices
• Strategically investing in concluding strategic purchase
until around 2040 and decreased revenues due to restricted
flight operations as a result of insufficient procurement
• Differentiating through strategic purchases, contracts,
and investments to benefit from priority procurement and
stable supply
• Increased cost of introducing next-generation aircraft
(hydrogen, electricity, etc.)
• Reduced fuel costs due to fuel efficiency improvements
over the medium to long term, and creation of opportuni-
ties for technological innovation and priority procurement
by investing in negative emissions technologies
contracts and establishing systems for mass production of
SAF produced in Japan
• Achieving priority procurement of SAF produced in Japan
through grants and subsidies through engagement with
policymakers
• Partially compensating for SAF purchase costs through
development of schemes such as the SAF Flight Initiative
Large
• Engaging with policymakers and other relevant parties to
realize aircraft with new technology and to improve airport
infrastructure
Oppor-
tunities
—New Technology
—Credit
Risks
• Increased costs due to the use of credits (price increases
due to excess demand for emission credits / increased
offsetting)
• Securing stable and inexpensive means of procuring
eligible credits
• Minimizing cost impact through an optimum combination of
SAF and credits
Actions to Reduce CO2 Emissions (Non-aircraft)
• Increased costs due to replacement with EVs
• Reduction in fuel costs and offset costs and labor-saving
in airport operations due to the evolution of new tech-
nologies such as unmanned autonomous driving
Medium
—Vehicle*2 Fuel (Light Oil)
• Engaging with policymakers and other relevant business
operators to promote the shift to EVs and improve airport
infrastructure
• Procurement and construction of a supply chain for alterna-
tive fuels such as next-generation biofuels
• Engaging with policymakers continuously, in collaboration
with industries and other organizations, for subsidies for the
shift to EVs and alternative fuel procurement
• Penalties and fines for failure to comply with laws and
• Appropriately responding to and disclosing information for
regulations in each country
climate change
Litigation / Fines /
Taxation
• Pressure from stakeholders to delay climate action
• Increased costs as a result of higher prices due to the
Medium
introduction of carbon pricing (carbon taxes, emissions
trading)
• Engaging with national governments continuously, in
collaboration with industries and other organizations, for
relaxation of regulations and tax systems
Changes in Consumer
Awareness and
Preferences
• Securing talent from a younger environmentally sensitive
generation and increasing sales due to securing cus-
tomer trust as a result of proactively addressing climate
change to improve brand value
Medium
• Appropriately responding to and disclosing information for
climate change
• Identifying needs through ongoing dialogue with society and
reflecting these needs in strategies
• Growing new businesses that do not require physical
• Developing measures that move forward while acquiring the
travel
understanding and cooperation of customers
Oppor-
tunities
Financing
• Successfully financing through loans and incorporating
• Identifying needs through ongoing dialogue with investors
ESG investment through proactively responding to
climate change ahead of the market
Medium
and responding appropriately
• Information disclosure in accordance with international
frameworks
*1 Large: ¥10 billion or more per year; Medium: ¥1 billion to ¥10 billion per year; Small: less than ¥1 billion per year
*2 Airport ground handling vehicles
Key issues related to climate change are also handled
Aircraft
within the overall risk management framework.
Reduce
CO2
Emissions
FY2030 Target
FY2050 Goal
Below FY2019 levels
(12.33 million tons),
net
Net zero
Non-
Aircraft
33%+ reduction
vs. FY2019
Net zero
Governance
To address environmental issues, including climate change,
we established the Group ESG Management Promotion
Committee, which is overseen by the President & Chief
Executive Officer, chaired by the Chief ESG Promotion Officer,
cers, as well as the full-time Audit & Supervisory Board mem-
bers of ANA HOLDINGS INC. At its meetings, which are held
four times a year, members discuss important policies and
measures related to environmental issues, including climate
change, and monitor progress toward targets.
Under the committee, we have also established the Eco-First
Subcommittee (related to aircraft operations) and the Ground
Energy Subcommittee (related to ground energy other than
aircraft operations), which report and discuss CO2 reduction
measures, initiatives, and progress. Important matters related
to corporate strategy are discussed at the Group Management
Committee and submitted to the Board of Directors.
Furthermore, in order to realize sustainable growth as a
company and enhance corporate value over the medium to
long term, the status of promotion of ESG management is
objectively and multilaterally monitored. Here, we employ
evaluation indicators such as CO2 emissions volume and
external ESG evaluation indicators, which are also reflected in
officer remuneration.
Risk Management
Based on the basic policies determined by the Board of
Directors, the ANA Group Total Risk Management Regulations
provide the basic terms of the group’s risk management
system. Under these regulations, the Group ESG
Management Promotion Committee develops, implements,
and monitors progress of basic policies.
54
55
Medium- to Long-Term Value Creation Medium- to Long-Term Value Creation
Material Issues
Human Rights
1 Respect human rights
2 Engage in responsible procurement
Basic Approach
The ANA Group has a wide range of business operations which involve various risks to human rights.
The ANA Group is committed to upholding human rights in accordance with the global standards provided in the United
Nations Guiding Principles on Business and Human Rights. In April 2016, we established the ANA Group Policy on Human
Rights. We based this policy on the International Bill of Human Rights (the Universal Declaration of Human Rights and the two
International Covenants), the International Labour Organization Declaration on Fundamental Principles and Rights at Work, the
Ten Principles of the United Nations Global Compact, and the United Nations Guiding Principles on Business and Human
Rights. In fiscal 2020, we reviewed our existing procurement policy and formulated a new ANA Group Procurement Policy con-
sisting of the Basic Procurement Policy and the Supplier Code of Conduct. We continue to encourage our contractors and
suppliers to adopt similar policies. We continue to encourage our contractors and suppliers to adopt similar policies.
We will continue human rights initiatives, recognizing that respect for human rights lies at the very foundations of the philoso-
phy of the SDGs.
Issuing the Human Rights Report
The ANA Group issued our first Human Rights Report in Japan in fiscal 2018,
aiming to promote communication with stakeholders through active dissemination
of our initiatives to respect human rights. The Group has continued to issue these
reports since then.
Human Rights Report 2020
https://www.ana.co.jp/group/en/csr/effort/pdf/Human_Rights_Report_2020_e.pdf
Expert Review
Since fiscal 2016, the ANA Group has held regular annual discussions with international human rights experts to obtain advice
on ANA Group initiatives to respect human rights. In October 2021, we invited three human rights experts from the Institute for
Human Rights and Business*1 and World Benchmarking Alliance*2 to evaluate the progress of the initiatives set forth by the
ANA Group given the advice received in fiscal 2020. The experts advised us on the importance of reliable stakeholder engage-
ment and direct dialogue, as well as the importance of initiatives that connect human rights with the environment, and collabo-
ration with other companies and industry groups that effect significant change.
*1 Institute for Human Rights and Business (IHRB): An international think tank working in the field of business and human rights and leading efforts in this area. Established in 2009.
*2 World Benchmarking Alliance (WBA): The Index Initiative established primarily by the United Nations Foundation and British insurance company Aviva. This organization develops benchmark
indicators to evaluate company contribution levels to a sustainable society.
56
Please visit our corporate website for more:
https://www.ana.co.jp/group/en/csr/human_rights/
https://www.ana.co.jp/group/en/csr/supply_chain_management/
1
Respect Human Rights
To ensure respect for human rights, in fiscal 2016 we conducted a review to identify potential risks to human rights related to
business activities across the ANA Group and in all countries to which we offer service. We are working to prevent the occurrence
of risks with regard to the areas we have identified.
Survey on Employment Conditions of
Foreign Workers in Japan
Every year since fiscal 2017, we have been conducting in-
Prevent the Use of Airplanes in Human Trafficking
In addition to conducting training for all cabin attendants, we
began a program in fiscal 2019 to report potential cases of
person interviews with foreign workers involved in airport
human trafficking found in-flight to authorities on the ground. We
ground handling and catering work. With the cooperation of
will continue to collaborate with authorities and other companies
our contractors in Japan, we utilize third-party organization
in the industry to ensure that this topic is treated as a priority
to survey the workers’ living conditions.
across the entire aviation industry, and continue to participate in
In fiscal 2020, we used the Global Supply Chain Worker
initiatives that increase deterrence of human trafficking.
Data Management System to conduct a survey of the
employment status of foreign workers at ANA Group compa-
nies and a total of 92 major contractors. In fiscal 2021, we
Corruption Prevention
To comply with the anti-bribery laws of countries around the
conducted a survey based on the previous year’s results of
world, we have established the ANA Group Anti-Bribery
198 technical intern trainees at nine companies which are
Regulations, which explain these laws with specific examples.
either ANA Group companies or major contractors. Our aim
By distributing the ANA Group Anti-Bribery Handbook and
was to confirm that their recruitment and employment status
conducting e-learning programs, we are working to educate
conformed with the Dhaka Principles*3. We will continue to
our employees. In 2021, in response to revisions made to
conduct regular surveys of the employment status of foreign
the Ministry of Economy, Trade and Industry’s Guidelines
workers across our supply chain, and further investigate how
for the Prevention of Bribery of Foreign Public Officials,
to ensure safe and secure recruitment practices for foreign
we revised the ANA Group Anti-Bribery Regulations and
workers in the ANA Group and supply chain.
conducted e-learning for relevant departments and
*3 Dhaka Principles for migration with dignity: International standards that companies,
governments, and NGOs, etc., should consider with respect to their responsibilities
toward migrant workers.
managers thereof.
2
Engage in Responsible Procurement
As well as providing safe and secure services, the ANA Group will contribute to the creation of social value through our
procurement activities by taking initiative in considering local and global social and environmental issues.
ANA Group Initiatives
In fiscal 2020, based on the ANA Group Procurement Policy,
overseas suppliers (Vietnam), in order to gain a better under-
standing of our Tier 2 and Tier 3 suppliers.
we analyzed priority risk factors in our supply chain, and iden-
The ANA Group conducts regular training to ensure aware-
tified uniforms and linen used during in-flight service as high-
ness of and adherence to our procurement policy. In fiscal
priority items. Acting on these results, we held briefing
2021, ANA Group procurement managers (approximately 100
sessions regarding the ANA Group Procurement Policy to
people) participated in three internal training programs regard-
seven uniform suppliers in Japan in fiscal 2020 and nine linen-
ing the importance of complying with social norms and laws
related suppliers in fiscal 2021, in order to ensure that all of
and regulations as well as constantly endeavoring to reduce
our suppliers understood the concept of responsible procure-
environmental impacts when conducting procurement activi-
ment. Additionally, we conducted ESG surveys of the suppli-
ers at which the briefing sessions were held. Through this
process, we were able to understand and evaluate the initia-
tives taken on by each supplier, offer advice on the intentions
of the ANA Group, and strengthen dialogue with all of our
suppliers. Furthermore, in fiscal 2021 we enlisted the help of a
third-party organization to conduct in-person interviews that
were focused on production plant workers at our Tier 3
ties. Going forward,
we will continue to
promote awareness-
raising activities.
Supplier Briefing Session
57
Medium- to Long-Term Value Creation
Medium- to Long-Term Value Creation
Material Issues
Regional Revitalization
1 Innovate to resolve social issues
2 Regional revitalization through social
contribution and resolving social issues
Promotion of
Agriculture
Tourism
Promotion
Promotion of
Commerce and
Industry
Lifelong
Learning
(Human Resources
Development)
Employment
Measures
Regional
Issues
Cultural
Community
Measures
Measures for
a Declining
Population
Problem
Solving
Strategies
Welfare and
Nursing Care
Other Measures
External
Partners
• Regional
Governments
• NGOs, DMOs
• Local Businesses
• Accommodations
• Tourist Facilities
• Restaurants
• Farmers, etc.
Collaborations
Collaborations
ANA Group Assets
Digital
Aviation Network
ANA Group
Companies
External
Partners
• Collaborations with
Various Companies
with Various
Achievements and
Expertise
Basic Approach
Regional revitalization is an initiative to overcome the declin-
ing population and shrinking regional economy, and to ensure
that the region will grow in the future. In addition to air trans-
portation, the ANA Group is developing businesses that con-
tribute to the local communities in many areas, including
hometown tax donations, supporting primary industries, digi-
tal advertising using ANA Mileage Club data, and resolving
social issues through our mobile app ANA Pocket*1.
With the relationships we have built with local communities
through our airline and travel businesses, we collaborate with
local governments, NGOs, NPOs, as well as various local
companies. These collaborations will address the concerns
and issues of local communities, and both utilize and apply
the strengths and assets of the ANA Group, while focusing on
the promotion of tourism and agriculture for the sustainable
development of local communities. We will take on the chal-
lenge of expanding the scope of problems to resolve.
*1 ANA Pocket: A mobile app service run by ANA X Inc.
Users can collect points for their daily movement and exchange them for a variety of perks.
Implementation Structure
The ANA Akindo Regional Revitalization Department works with 33 branches nationwide to hold community-based activities and
organizes the ANA Group Regional Revitalization Meeting. This meeting coordinates and integrates group companies initiative and
promotes itself as a place to connect with regional issues through value creation and planning.
Please visit our corporate website for more:
https://www.ana.co.jp/group/en/csr/regional_creation/regional_revitalization/
1
Innovate to Resolve Social Issues
We are working on projects to revitalize local communities through promoting movement with our ANA Pocket mobile app service,
which allows users to collect points from their daily movement. This app creates fun opportunities to move, featuring game-like
aspects such as “Challenge Spots” and “Gacha.” It also allows for extra points to be earned when users travel by
eco-friendly methods of transportation (walking and biking).
Case 1
Promoting Tourism: Get Points by Traveling to Challenge Spots, and Discovering Local Charm
Regional
Issues We
Wish to
Resolve
Solution
Methods
• Desire to expand specialty goods and regional consumption, which are declining
due to a drop in the number of tourists
• Desire to convey the charm of locally produced goods and areas
• Desire to have many people know and experience good products from local
communities
• Set TOCHI-DOCHI, a shop that sells products from all over the country while
conveying their charm, as a Challenge Spot to create opportunities for customers
to visit the shop
• Users collect points through movement and by visiting Challenge Spots. They can
discover new favorite products as well as collect tourist information.
• For more details, please refer to: https://www.tochidochi.com/ (in Japanese only)
ANA Pocket App
2
Regional Revitalization through Social Contribution and Resolving Social Issues
The ANA Group is working to resolve essential regional issues. Ranging from the production of agricultural products to branding
and marketing development, we contribute to expanding recognition and improving the attractiveness of primary industries
through ANA Group assets, expertise, and regional cooperation. We also promote community-driven sustainable cycle practices.
Case 2
Tangerine Farm Restoration: ANA Farm Project @ Ehime Prefecture
Regional
Issues We
Wish to
Resolve
Solution
Methods
• Desire to stop the increase in the number of abandoned farms due to a lack of
successors
• Desire to expand sales channels and increase sales
• Desire to spread awareness of locally produced goods
• ANA will oversee an abandoned tangerine farm and support the entire process,
from production to processing, distribution, and sales
• Expansion of sales channels and branding of prefecture-specific products that
were produced with ANA’s assets, as well as food processing using ANA catering
expertise
• Promotion of green tourism through planning and operations of trial package
tours, workcations, agricultural experiences, etc.
• Dispatch of ANA personnel to farms
For more details, please refer to:
https://www.ana-akindo.co.jp/activities/ehime-nouen/ (in Japanese only)
Tangerines Grown in Magnificent Views of Nature
Government Agencies
ANA X
Travel package planning and sale, tourist promotions
through apps, digital promotions, crowdfunding
Case 3
Agriculture-Welfare Collaboration: Spreading Awareness on the
Efforts and Products of People with Disabilities in Agriculture
Deployment across the Group
Regional
Governments
/ DMO /
Regional
Businesses
33 Branches
Nationwide
• Regional ANA Group
General
Information Desk
ANA Akindo
Regional Revitalization
Department
• Prioritize issues
• High-quality trial and error
with the community
• Ideas are valuable and
competitive
ANA Group
Regional
Revitalization
Meeting
ALL NIPPON AIRWAYS
TRADING
Sales of goods at airports, advertising media
ANA Business Solutions
Provide ANA Group expertise (education, training, etc.)
ANA Strategic
Research Institute
Human resources development, consulting, surveys
ANA Cargo
Expansion of export regional, local products
ANA Department
Overseas HQs, Offices
International promotions, marketing and facilitation of
inbound tourism
ANA HOLDINGS INC.
Group Companies
Cross-organizational initiatives
Regional
Issues We
Wish to
Resolve
Solution
Methods
• Activities of people with disabilities within the agriculture field, through the agricul-
ture-welfare collaboration (between agriculture and welfare), are unrecognized
• Desire to spread awareness of locally produced goods
• Expand agricultural production through the efforts of people with disabilities in the
agricultural field, and further promote production and branding of carefully grown,
high-quality agricultural produce
• Spread awareness by using agricultural produce as thank-you gifts for ANA
Furusato Tax Payment
For more details, please refer to:
https://furusato.ana.co.jp/feature/noufuku/2022/04/ (in Japanese only)
Vegetable Cultivation at AI FACTORY*2
*2 AI FACTORY: A special subsidiary company that
aims to employ people with disabilities. They oper-
ate their All-weather plant factory in a former ele-
mentary school building in Tottori City.
58
59
Medium- to Long-Term Value Creation Medium- to Long-Term Value Creation
Material Issues
Diversity, Equity, and Inclusion (DEI)
1 Promotion of universal services
2 Develop human resources for
sustainable growth
Basic Approach
The ANA Group is promoting diversity, equity, and inclusion (DEI) throughout the group.
As customer values diversify and the social environment changes, continuing to be chosen and trusted by all customers is
crucial for the future growth of the ANA Group. We will continue to accelerate initiatives aimed at providing world-class
inclusive and universal services in an effort to fulfill our responsibility as a public transportation entity and build a sustainable
inclusive society in which everyone can live together.
Implementation Structure
We aim to provide ANA Group services that every customer can enjoy comfortably and with
peace of mind. In addition to striving to enhance our services and facilities, we promote the
development of human resources that can develop and provide services that respect the
diversity of each customer and are attentive to their feelings. We take customer feedback and
opinions of group employees with disabilities into account, and strive to create an environment
where all customers can fly anxiety- and stress-free.
* This map depicts various points of contact between customers and the ANA Group from daily life to post-use.
1
Promotion of Universal Services
Creating a Comfortable Environment for All (Tangible Initiatives)
ANA CX MAP*
Please visit our corporate website for more:
https://www.ana.co.jp/group/en/csr/customer_diversity/
Airport (Information, Facilities)
Aircraft
• We have introduced a
• Apartment-style low counters at five major domestic airports
• In-flight wheelchair-accessi-
Telecommunications Relay
including Tokyo (Haneda) and Osaka (Itami)
Service at counters for cus-
• Installation of low counters in check-in areas at all other airports
tomers with hearing and
speech impairments (located
at major domestic airports).
ble restrooms have been
installed on small jets
(A320neo/A321) in addition
to large and medium-sized
aircraft.
Developing Human Resources to Respect Customers Diversity (Intangible Initiatives)
We are enhancing our internal education to deepen understanding and accommodation of people with disabilities as well as
other diverse customers.
The 15th Ministry of Land, Infrastructure, Transport and Tourism Award for
Distinguished Service in Promoting Barrier-Free Measures
Universal Service
Refresher Training
• To ensure a safe journey for all passengers during the COVID-19 pandemic, we partnered with
• We conduct quarterly
Japan Airlines Co., Ltd. to formulate new hospitality guidelines for customers requesting special
e-learning regularly to raise
assistance in accordance with COVID-19 countermeasures.
the level of universal services
• We worked to promote airport management staff’s understanding of people with disabilities by
throughout the Group. All
giving lectures on hospitality guidelines, demonstrating how to guide disabled persons, and holding
Group executives and
opinion forums at major domestic airports.
employees attend these
• We were highly praised for our initiatives to transcend company boundaries to promote barrier-free
lectures.
access in the airline industry and were co-awarded the 15th Ministry of Land, Infrastructure,
We will continue to create services, facilities, and equipment offering even greater comfort and convenience in any scenario,
Transport and Tourism Award for Distinguished Service in Promoting Barrier-Free Measures.
from pre-departure through arrival.
Enhancing Web Accessibility Support
Assistance Information Registration Service
Elderly and Pregnancy Simulations
ANA’s Sora-Pass Classes
Barrier-Free Mindset
Seminar
• We implemented tools that allow for the enlargement of text,
• We operate a service that allows users to complete the reserva-
background color changes, as well as voice readings of on-screen
tion process smoothly by registering the necessary assistance
information, in conformance with the global accessibility standards
information for boarding in advance.
(WCAG2.0/2.1), so that anyone can use our websites and
apps comfortably.
60
• We conduct elderly and pregnancy simulations to raise the level
• The ANA Group continues to
• We hold lectures to which we
of universal services throughout the group.
visit special-needs schools to
invite people with disabilities
teach a hands-on curriculum
and experts on barrier-free
that addresses characteristics
access to be speakers.
of disabilities for students that
are planning school trips
through ANA flights.
61
Medium- to Long-Term Value Creation Diversity, Equity, and Inclusion
Further Promotion of ESG Management
Promotion of Universal Services through Group Businesses
ANA Future Promise
Creating Comfortable and Safe Spaces for Everyone: ANA Wing Fellows Vie Oji Co., Ltd.
Under the slogan ANA Future Promise, the ANA Group will aim to achieve
the SDGs while gaining the understanding and cooperation of our
To achieve a universal environment where anyone can lead their lives without feeling inconvenienced, ANA Wing Fellows Vie Oji
customers.
continues various consulting businesses based on perspectives of people with disabilities, as well as flight attendants’ spirit of
hospitality. So far, we have provided ANA Group employee training, sign language supervision for safety videos, and usability
support for the visually impaired.
Through our daily work and actions, we will proactively enhance elements
of ESG, hygiene and cleanliness, universal values, etc., in the products and
services we offer so that the ANA Group continues to be a company needed
In addition, as online opportunities increase amid the COVID-19 pandemic, we propose and provide universal standards that
by society.
are sought in the now, by offering online tours which allow wheelchair and white cane users to safely participate in travel, etc.
Universal Seminars for
Tourist Facilities for
Businesses and Government
Enjoyable Online Tours with
Flight Attendants for Wheelchair
and White Cane Users
Office Facilities Consulting
One year has passed since the launch of our ANA Future Promise. On the
specially designed Boeing 787, we will provide in-flight service products
made from sustainable materials (some in-flight meal tableware, packing
materials for aircraft supplies, etc.), expand sales of aviation-themed upcy-
cled goods, and handle CO2 emission reduction, etc., to further promote
measures over the medium to long term. We will further promote sustain-
able activities together with various business partners, as well as our
customers, to achieve our medium- to long-term environmental goals.
• We conduct seminars lead by lecturers
• In a collaborative business with ANA X
• We inspected facilities and equipment
with disabilities (vision, wheelchair) to
Inc. we planned, performed, and sold
from the perspective of people with
recommend ways to comfortably enjoy
online tours aimed for those anxious to
disabilities and offered specific improve-
travel, promote employment of people
leave home, the elderly, etc. We intro-
ment methods. We also gave advice and
with disabilities, improve customer cor-
duced famous places in Miyazaki
support for office setups that reflect DEI
respondence, and promote barrier-free
Prefecture, such as Aoshima Shrine, with
perspectives.
mindsets.
ANA flight attendants.
2
Develop Human Resources for Sustainable Growth
At the ANA Group, we respect diversity in terms of age, nationality, gender, values, disabilities, etc., and work to create inclusive
workplaces for each person to work lively. In addition, in 2015 we made the ANA Group Diversity and Inclusion Promise (D&I Promise)
and worked with D&I as one pillar of our management strategy since then. However, from April 2022 we began to promote diversity,
equity, and inclusion (DEI), which now includes equity, and are deepening our actions. More details are available on page 74.
Using External Evaluations Related to ESG
Results of the four following external evaluations have provided us with an objective and multifaceted understanding of ANA
Group ESG management. We reflect these results in officer remuneration.
DJSI
FTSE
MSCI*
CDP
FY2021 Evaluation
FY2022 Targets
Remarks
Selected for inclusion
in the World Index
and Asia Pacific Index
Same as FY2021
Stock index developed jointly by U.S.-based S&P
and Switzerland-based RobecoSAM. Evaluates
corporate sustainability from the perspectives of
economy, environment, and society.
Selected as a
component member
of FTSE4Good Index
Selected as a
component member
of the Japan
Empowering Women
Index (WIN)
Same as FY2021
Stock index managed by the U.K.-based FTSE.
Evaluates the initiatives and results of ESG
management based on benchmarks.
Selected as a
component member
of the Japan ESG
Select Leaders Index
Stock index managed by the U.S.-based MSCI. An
index based on the performance of stocks around
the world from various perspectives. Examines and
evaluates corporate commitment to ESG.
A–
A– and above
External evaluation for institutional investors
managed by a U.K-based NPO. Analyzes the
corporate impact of CO2 on the environment and
climate change, evaluating the company’s
responses.
* THE INCLUSION OF ANA HOLDINGS INC. IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A
SPONSORSHIP, ENDORSEMENT OR PROMOTION OF ANA HOLDINGS INC. BY MSCI OR ANY OF ITS AFFILIATES.
THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES.
In June 2021, we issued Sustainability-Linked Bonds to make the abovementioned external evaluations related to ESG into Sustainability Performance Targets (SPTs).
See our corporate website for more details.
https://www.anahd.co.jp/group/en/pr/202105/20210519.html
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63
Medium- to Long-Term Value Creation
Foundations for
Sustainable Corporate
Value Enhancement
We work with ANA Group stakeholders, aiming to share a variety of
values that lead to a brighter future. Today, we are building a
foundation for the appropriate allocation of management
resources and nimble decision-making.
Turning Ideas from Employees into New Services and Businesses
Environmentally friendly in-flight meals, direct air transport of fresh food from local production areas, tote bags made from
upcycled mechanic work clothes, and the launch of a store that communicates the charms of local communities.
These are just a few examples of the services and businesses that have emerged from the ideas of employees who have taken
on new challenges and turned them into reality. And the starting point is always the Power of People who are willing to endeavor.
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65
65
Safety
Strengthening Safety as a Business Foundation, Passing Down Safety as a Culture
Building Stronger Sustainable Structures for Safety
Safety is the unequivocal mission of every business in the ANA Group.
Solid Approach to Safety
Safety is the absolute value underlying every ANA Group corporate activity and the foundation of everything we do. Our dedication to
safety extends to every part of our group businesses, even beyond our aircraft operations, including cargo, food services, and information.
Our everyday efforts to improve safety and our conscientious response to customer expectations build confidence and trust with society.
An environment of mutual understanding and trust form relationships among employees across various job descriptions to support
safe aircraft operations and other aspects of the ANA Group business. In every workplace, we post the ANA Group Safety Principles
and Course of ANA Group Safety Action, which are pledges shared by all ANA Group employees.
ANA Group Safety Principles
Safety is our promise to the public
and is the foundation of our business.
Course of ANA Group Safety Action
(1) Strictly observe rules & regulations, and all actions will be grounded on safety.
(2) As a professional, place safety as the #1 priority while keeping your health in mind.
Safety is assured by an integrated management
(3) Address any questions and sincerely accept the opinions of others.
system and mutual respect.
(4) Information will be accurately reported and shared in a timely manner.
Safety is enhanced through individual
performance and dedication.
(5) Continuous self-improvement for prevention and avoiding reoccurrence.
(6) Lessons learned from experiences and increased skills for risk awareness.
ANA Group Medium-Term Safety Promotion Plan
In working toward higher levels of safety, we formulated the FY2021–
FY2025 ANA Group Medium-Term Safety Promotion Plan as part of
our efforts to accelerate the transformation necessary to return to
growth, while responding flexibly to the COVID-19 pandemic and a
changing environment. In fiscal 2022, the second year of the plan,
we will implement this safety promotion plan while understanding
immediate environmental changes and responding appropriately.
We defined matters of the highest priority as our core safety
values, establishing three pillars for engaging in specific priority
actions: (1) Sense of Safety for Our Customers, (2) Safety Structures,
and (3) Safety Culture.
Safety
Implementation of
Implementation of
Safety Measures
Safety Measures
C
o
m
m
u
n
c
a
t
i
o
n
i
Safety
Structures
Education /
Education /
Awareness
Awareness
Safety
Culture
ANA Group
ANA Group
Core Safety Values
(1) Build an organization that is resilient to change and innovation
(2) Pursue safety based on global standards
(3) Establish a culture of deep-rooted safety behavior
(4) Foster core human resources who strive for safety
(5) Instill confidence in our customers and society regarding ANA
Group safety
Priority Actions for Safety (Three Pillars)
1. Sense of Safety for Our Customers
Disclose information and engage in greater dialogue with customers and
society regarding our safety efforts as we pursue ESG management
2. Safety Structures
Sense of
Safety
• Work closely with code-share, partner airlines to standardize and
raise the level of our safety foundation, including safety information,
safety rules, safety audits, safety education, and more
• Engage in stronger preventive measures and bring visibility to safety
through risk management and SPIs (Safety Performance Indicators)
• Strengthen initiatives in predicting risk (including the Three Task
Customer
Customer
Categories*) and change management; provide safety education and
awareness activities via online and on-demand technologies
3. Safety Culture
• Share specific examples of safety behaviors that embody safety cul-
ture; pursue the practice of safety as a personal responsibility
* First Time Task, Procedure Changes, and Task After Extended Time Gap
Amid impact from the spread of COVID-19 and global affairs, we are creating a stronger structure to maintain safety, even as we
adopt new and different mechanisms and procedures.
(1) We adopted safety management methods within change
management to prevent organizational errors when changes
occur in structures or work flows.
a. Identify risk factors (hazards) in advance
b. Verify potential risks that may occur due to hazards
c. Take measures to reduce risks and then implement change
(2) During this fiscal year, as the number of flights has been
recovering, we are promoting the effective practice of risk
a. Each individual uses their foresight to anticipate risks
b. Share information on matters identified and respond to risks before
prediction from the perspective of the Three Task Categories
beginning work
(First Time Task, Procedure Changes, and Task After
c. Use the assertion* method to respond appropriately with coworkers
Extended Time Gap), which we developed during the COVID-
19 pandemic. With this effective practice, we are working to
take measures to prevent unsettling events from occurring.
d. Proactively send out spontaneous reports of near-misses when notic-
ing something unusual or dangerous
* Expressing opinions in a constructive and cooperative manner
Developing Human Resources that Embrace and Enhance Safety Culture
The ANA Group engages in ongoing education and training programs to preserve the memory of past accidents and hijackings in our
pursuit of safety. We are harnessing the lessons learned during the COVID-19 pandemic, utilizing both face-to-face and online methods
to pass on a broader and deeper safety culture.
ANA Group Safety Education Center (ASEC)
Total number of participants: 16,524 (including online participation)
ASEC, located in the ANA Group Training Center (ANA Blue Base), provides safety education in
which participants learn actively, leading participants to practice safe behavior in the workplace.
Online training programs are also available, and all group employees worldwide have been taking
its courses.
Emergency Aircraft Evacuation Training
Safety Forum Conducted by Senior Management
Total number of participants: 8,483
Number of forums: 17 Total number of participants: 1,022
This training is mandatory for all group
employees to support cabin attendants,
as well as to provide assistance and
guidance to passengers in the event of
an aircraft emergency.
The ANA President & Chief Executive
Officer and three directors in charge of
safety at ANA delivered safety-related
lectures and engaged in dialogue with
employees both face-to-face and online.
Participants and leaders discussed and
shared thoughts on a wide range of topics.
Initiatives for Aviation Safety and Security Promotion Month
8 case studies shared
We observe the Aviation Safety and Security Promotion Month every July,
holding programs featuring seminars, presentations, and awards related
to safety. Of the approximately 40 case studies of safety and quality
improvement initiatives solicited from our front lines, the best were care-
fully selected and shared in video format on our corporate intranet.
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67
Foundations for Sustainable Corporate Value Enhancement Safety
Ensuring Safety in Non-Air Operations
Food Safety
The ANA Group introduced the ANA Catering Quality Program (ACQP), from the three aspects of
food safety for hygienic inflight and ANA Lounge meals, the pursuit of delicious quality, and the
safe and correct loading and unloading of goods on and off aircraft. Full-time auditors and chefs
make regular visits to our catering contracts in Japan and around the world, offering guidance on
improvements based on our own strict hygiene standards. We also engage regular external
hygiene audits from third parties based on international standards. Results are reported to the
group to maintain and improve quality. We also discuss the results regularly at board meetings,
where decisions are made on the spot and implemented promptly to correct issues.
Information Security
The ANA Group is continuously working to ensure the secure handling of information, including
personal customer information, as an issue equally important to flight operations. For our sys-
tems, we have implemented a multi-layered security mechanism for entrance and exit control and
anti-virus measures, and we monitor our security system 24 hours a day, 365 days a year. In
addition, we have established the ANA Group Information Security Management Manual for
employees in accordance with ISO 27001, and apply this to the entire group. We also use hand-
books, e-learning, training, and email newsletters to ensure that this manual is widely understood
throughout the group, and conduct audits to check compliance. In this way, we are strengthening
our information management system and reducing the risk of information leaks from both tangible
and intangible perspectives. In addition, we comply with the EU General Data Protection Regulation
(GDPR) and other laws and regulations enacted or revised in various countries regarding the
protection of personal information. Further, we publish our privacy policy on our corporate website
as appropriate.
These initiatives are regularly reported to the management of the entire group through the
Group ESG Management Promotion Committee.
Hygiene Audit of the In-Flight Meal
Production Facility at Haneda Airport
Cybersecurity Response Training for
Employees in an Online Game Format
Seconding Employees to Develop Cybersecurity Human Resources
As a critical infrastructure organization, the ANA Group also dispatches personnel to public expert organizations to analyze trends in
cybersecurity incidents, formulate countermeasures, and contribute to the development of cybersecurity human resources through joint
public–private sector efforts.
I am currently on secondment to the Cabinet Secretariat’s National Center of Incident Readiness and Strategy
for Cybersecurity (NISC), where I am in charge of formulating “The Cybersecurity Policy for Critical Infrastructure
Protection” and the secretariat of its Expert Panel.
This offers me a number of opportunities to interact with current affairs and the latest information surrounding
cybersecurity, and I am keenly aware of the magnitude of the mission that the ANA Group, as a critical infra-
structure operator, must fulfill.
At the same time, I am proud of the ANA Group’s systems for cybersecurity and its extensive employee
education, as seen from the outside.
I look forward to continuing to deepen my knowledge of cybersecurity while utilizing the team spirit I have
developed at the ANA Group, and to return the lessons I have learned to the ANA Group so that it can continue
to fulfill its responsibilities as a business operator.
MAEOKA Yuko
Seconded to the National Center of
Incident Readiness and
Strategy for Cybersecurity
New Foundation: Hygiene and Cleanliness
In the with- and post-COVID-19 eras, the ANA Group is deepening its efforts related to hygiene and cleanliness as the basis for creating
an environment in which passengers may board our flights with confidence.
ANA Group Response to COVID-19
Our ANA Care Promise, a countermeasure against COVID-19, was well-received. In
2021, we were awarded World’s Best Airline Cabin Cleanliness, an honor bestowed for
the highest-rated cabin hygiene and cleanliness, and the COVID-19 Excellence Award
by U.K.-based SKYTRAX.
By assessing the social situation and taking appropriate action in each particular
instance, we will stay close to the voice of our customers and provide a safe and clean
World’s Best Airline
Cabin Cleanliness
environment and service to all customers in all aspects of their travel.
Enhanced Hygiene and Cleanliness
We are working to enhance hygiene and cleanliness with the aim of continuing to be the airline of choice by meeting the needs of
a diverse set of customers, even in the midst of social changes and new values.
In addition to working to improve employee mindsets toward hygiene and cleanliness through in-house education and training,
the company makes a list of areas prone to uncleanliness and conducts periodic inspections and improvements based on this list
under the supervision of Nihon Stery, Inc. We are also working to create a system to enhance hygiene and cleanliness through
cross-functional collaboration.
We are taking action to ensure that the initiatives that began with the ANA Care Promise will not be one-off instances, and that
spotlessness will take root as part of the ANA Group culture by establishing mechanisms and thoroughly promoting the perme-
ation of these initiatives.
Mechanism to Make Spotlessness Part of ANA Group Culture
Strengthening
mechanisms for
cross-functional
collaboration to
pass the
spotlessness baton
Rigorous
management incorpo-
rating customer per-
spectives and scientific
findings
Spotlessness
as culture
Fostering
employee mindsets
toward hygiene and
cleanliness
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69
Foundations for Sustainable Corporate Value Enhancementウウイイルルスス対対策策ソソフフトトををイインンスストトーールル10部部門門長長へへ事事象象報報告告10
Human Resources
Letting Our Greatest Asset-Human Resources-Shine, and Achieving Growth as the ANA Group
Toward Career Fulfillment
We will create an environment where each employee feels engaged and can demonstrate their
diverse strengths.
Basic Approach to Human Resources
The greatest asset of the ANA Group is our human resources—each and every person working for the group. In order to overcome
the COVID-19 pandemic and achieve new growth, it is essential that every employee of our group, with their diverse talents and
strengths, work with enthusiasm and demonstrate their abilities to the greatest extent possible. To this end, the ANA Group will
improve engagement with our employees to maximize the capability of the individual and the organization.
Establishing a Mechanism for Sustainable Growth Focused on and Inspired by Our People
Human Resources
Diverse human resources
maximizing individual strengths
Engagement
Engagement
Ease of Work
Stability and Fulfillment in Life
Mental and Physical Health
Enhanced
Basic Quality
Improved
Customer
Satisfaction
Digital
Enhanced
Productivity
Sustainable
Growth
Generating
Innovation
Improved
Corporate
Value
Key Elements for Improved Engagement
Job Fulfillment
• Expand self-actualization mechanisms, such as an internal proposal system
• Provide challenging opportunities for achieving diverse careers
• Strengthen education and training programs for employees to take on challenges and achieve self-growth
For the group to remain strong and grow
Major Initiatives for Career Fulfillment
sustainably in a changing environment, we
must maximize and evolve the strengths of
employees who have diverse expertise.
We are strengthening opportunities for
each individual to autonomously develop their
strengths and carve out a career, including
through new graduate ANA global staff
recruitment in fiscal 2023 by segment and by
specialty, and through enhancing challenging
opportunities and providing diverse work style
options after being hired.
Enhancing Challenging
Opportunities
Supporting diverse
work styles
• Open Job Posting within the group
• Sabbatical leave system*
Allowing employees to voluntarily take on the
work they want within the group
Allowing employees to take temporary leave/absence
for a certain period of time, regardless of reason
• Open transfer within the group
Offering opportunities to change career at
other group companies
• Job change challenge*
Offering opportunities for employees to
change their job type, e.g., from cabin
attendant to ground staff
• Secondment outside the group
• Dual employment system*
• Welcome back system*
Welcoming retired former employees back via
re-employment
• Elective workplace system
Allowing employees to request a transfer to a group
company within each region if there are
circumstances in their area of residence
Support for career
development
Self-reporting
interviews*
Career training
Career counseling
Support for
self-growth
Group rank-based training
Self-development program
Systems marked with an asterisk (*) are company-specific within the group, and implementation differs for each company
Linking Experiences Outside the Company to Both Personal and ANA Group Growth
In response to the significant decrease in air passenger demand due to the COVID-19 pandemic, the ANA Group has been promoting secondment
outside the group as one of our measures to protect the jobs of our group employees. Roughly 300 entities in the financial, telecommunications,
government, and other sectors have cooperated with this effort and accepted our employees. As of July 1, 2022, approximately 700 employees are
on secondments (cumulative total of 2,300 since October 2020). Each individual contributes to business by demonstrating their individuality and
cultivated skills where they have been seconded. They also return the diverse set of work experiences and values accumulated there back to the
ANA Group, demonstrating these and contributing to both their own growth and that of the ANA Group.
Through open job posting, I was seconded to a company in real estate, and gained experience in areas like
operating seminars for businesspeople. During my secondment, I gained lots of insights into the social role
expected of cabin attendants from my interactions with people outside the company.
Now, after returning to ANA, I am striving to deepen my understanding of the context behind our own various
policies, as well as to deepen my cultural understanding and aptitudes so that I can convey the values and
strengths of the ANA Group to as many customers as possible through my own work. In addition, together with
my colleagues who have experienced secondment outside the group, I would like to take the importance of
Connecting with
Colleagues
• Respect diverse individuals through practicing DEI
• Create a proactive corporate culture through the promotion of ANA’s Way by each and every group employee
ongoing self-improvement as a cabin attendant and permeate that broadly across the group.
• Deepen mutual communication by utilizing internal platforms
Looking ahead, my goal is to think of and implement solutions that only I can provide as a cabin attendant to
social issues such as environmental conservation, regional revitalization, and gender equality.
ISHIHARA Miku
Inflight Services Center,
ALL NIPPON AIRWAYS CO., LTD.
Sense of
Contribution
• Roll out groupwide employee education founded in customer orientation
• Share the group’s business activities through internal newsletters
• Present the ANA’s Way AWARDS to recognize good practices
In order to increase engagement and to create innovation and new value in the midst of a drastically changing business environ-
ment, each employee must work autonomously based on their own ambition. To achieve this, we will promote a change to a co-
creation style of management that creates value together by eliciting self-starting behavior and autonomy while maintaining
closeness to the individual, such as by enhancing one-on-one communication.
Using the Power of People to Achieve Sustainable Growth in the
Post-COVID-19 Era
Amid the impact of COVID-19, I have been keenly reminded of how significant the power of people is.
With major restrictions on flying airplanes, at the core of our businesses, we were able to realize various
employee-generated ideas through teamwork in a way that transcended company and departmental boundar-
ies, including sightseeing flights, in-flight restaurants, weddings, and the sale of in-flight meals and maintenance
parts planned for disposal.
In addition, many of our cabin attendants and airport staff in particular have been given the opportunity to be
seconded to companies and other organizations outside the group. Here, they have been able to demonstrate
their ingenuity and ANA’s unique value in their respective environments, as well as their growth through the
experience of taking on other cultures.
By promoting improved engagement and creating an environment where each employee can demonstrate
their expertise and strengths, we aim to create a strong ANA Group that will achieve sustainable growth after
NAOKI Yoshiharu
Executive Vice President
Group CHO
(Chief Human Resource Officer)
ANA HOLDINGS INC.
COVID-19.
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Foundations for Sustainable Corporate Value Enhancement
Human Resources
Promoting ANA’s Way
ANA’s Way, our course of action, serves as the foundation for the attitudes and actions to be
taken by all ANA Group employees toward the achievement of our Mission Statement and
management vision. Daily practice of these actions conducted by every employee is the
source of our core management—strength for brand enhancement—and the driving force
behind creating the value of the ANA Group.
The ANA Group is working to promote understanding of our Mission Statement, management
vision, and ANA’s Way, as well to pass on the culture and DNA inherited over our 70 years
of history. The Group is also continuously working to improve our engagement level through
communication.
Groupwide ANA’s Way Promotion Activities
Through various initiatives within the group, every employee embodies ANA’s Way and creates corporate culture.
Promoting ANA’s Way
ANA’s Day Training
• Share values that resonate with ANA Group employees
• Reflect on past accidents and understand safety
ANA’s Way Survey (ANA Group Employee Engagement Survey)
The ANA Group conducts an annual employee engagement
survey to improve satisfaction and corporate value. The survey
• Return to our founding philosophy of Wakyo (close coopera-
consists of 63 questions, each worth five points, related to the
tion) and Hardship Now, Yet Hope for the Future
five categories of ANA’s Way (safety, customer orientation,
• Launched online training in fiscal 2020, with participation by
all Group employees
social responsibility, team spirit, and endeavor) and engage-
ment. The survey also asks four open-ended questions. In fiscal
2021, we conducted the survey at 44 group companies with
37,945 employees taking part, for a response rate of 97.1%.
ANA’s Way Survey Score
(ANA Group Average Score)
Health Management
The ANA Group made the ANA Group Health Management Declaration in April 2016. Our employees are the engine that drives
sustainable growth together with society, and it is our employees who embody the motto, Anshin, Attaka, Akaruku-genki!
(Trustworthy, Heartwarming, Energetic!). We encourage Quality of Life (QOL) and improved corporate value through employees
who engage in their work in physical health, mental health, and passion.
ANA Group Health Management
https://www.ana.co.jp/group/en/csr/human_resources/health_care/
Implementation Structure
Led by the CWO (Chief Wellness Officer), a director responsible for promoting health management, and Wellness Leaders at each
Group company, all ANA Group employees, companies, and health insurance associations work in unison to promote health man-
agement. As a result of groupwide efforts, 12 companies, including ANA AIRPORT SERVICES Co., Ltd., ANA CHUBU AIRPORT,
and ANA OSAKA AIRPORT, were named Certified Health and Productivity Management Organization Recognition Program
(White 500) companies in fiscal 2022. In addition, ANA Systems Co., Ltd. was named a Certified
Health and Productivity Management Organization Recognition Program company.
P.101 External Recognition
Four Important Themes of the ANA Group Health Management Declaration
The ANA Group Health Management Declaration promotes the maintenance and improvement of employees’ physical and mental
health and the creation of environments that encourages long, motivated careers. With a focus on four important themes, we
engage in regular situational monitoring, while analyzing and responding to positive impacts and challenges.
1 Health Management Initiatives
• Create an environment for health management throughout the group for the extension
of healthy life expectancy (review of health checkup system, health management
system, etc.)
2 Disease Prevention Initiatives
• Enhance cancer prevention measures for all group employees and women’s health measures
• Establish and monitor health management indicators for strengthening lifestyle
disease prevention
3 Mental Health Initiatives
• Reinforce initiatives for primary prevention and prevention of recurrence in employees
Strengthening Safety and Health Initiatives
4
• Develop safe and secure work environments and conducting groupwide awareness
who have returned to work
• Practice the four types of mental healthcare at ANA Group companies
activities to eradicate the occurrence of occupational accidents
Health Maintenance amid the COVID-19 Pandemic
3.97
4.00
New lifestyles, including activity restrictions and changes in dietary habits, have led to concerns by many employees about (1) lack
of exercise and physical ailments and (2) mental health. The ANA Group is taking the following groupwide initiatives to overcome
these challenges.
Initiatives Against Lack of Exercise and Physical Ailments
Mental Initiatives
Good Job Message
• Launched in fiscal 2001 as a tool to foster a culture of mutual
appreciation and respect
• Messages are sent to colleagues in other group companies
or divisions via a dedicated web system
• The total number of messages sent across the entire group
exceeded one million in fiscal 2021
4.05
4.00
3.95
3.90
3.85
3.80
3.75
3.70
3.90
3.80
2019
2020
2021
2022
Target
(FY)
Survey Results for FY2021:
• Overall score of 3.97, an improvement of 0.07 points from the
previous fiscal year
• Even during the COVID-19 pandemic, average scores improved
related to engagement through more opportunities for dialogue
with management and communication within the workplace
• We analyzed the results of this survey, including 72,468 com-
ments in the open-ended questions section. The results were
shared and discussed at each group company and department,
and we made efforts to improve the issues identified and to
revitalize our organization
We are establishing an environment for self-management, including con-
ducting various online seminars to alleviate the lack of exercise and to
provide more education regarding physical fitness.
• Dietary seminars given by nutritionists
• Seminars on body maintenance: building an injury-free body
• Health seminars connected in a relay format by health management offices
across Japan
• Holding online walking events with ANA Group companies and other
companies, etc.
Healthy minds are an important factor in QOL and work. The ANA Group
implements measures in line with the four types of mental healthcare
described in the Ministry of Health, Labour and Welfare’s Guidelines for
Maintaining and Improving Workers’ Mental Health, and we also use video
materials and e-learning to promote the mental health of our employees.
Care through External
Consultation Desks
Consultations through external
specialists
Care through Occupational
Health Staff
Health consultations though
industrial physicians / nurses
Care by Line
Supervisors
Self-Care
Managers address mental health
problems, including workplace
environment and active
communication improvements
Self-awareness through stress
checks, voluntary consultations
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Foundations for Sustainable Corporate Value Enhancement Human Resources
Diversity, Equity, and Inclusion Promotion
Fostering Human Resources for Promoting Digital Transformation (DX)
After presenting “The ANA Group Diversity and Inclusion Promise” (D&I Promise) in 2015, we have been promoting D&I as one of
the key pillars within our management strategy. However, as of April 2022, we have added equity (providing fair support and creat-
ing opportunities in accordance with diversity) as an important element and are deepening our activities with the promotion of
diversity, equity, and inclusion (DEI). In connection with this, we created the position of Group CDO (Chief Diversity, Equity &
Inclusion Officer) to accelerate our promotion efforts.
Understanding and Addressing Diversity
(1) Gender Equality: Women in Leadership
In June 2021, the ANA Group set medium-term goals in regard to women in decision-making positions. In addition to reviewing
personnel and support systems and promoting actions such as capability development and awareness-building, management
holds discussions and regularly checks the progress of key indicators to realize a workplace that leverages diversity and fosters
the creation of new value. Furthermore, we are working to permeate DEI through town hall meetings, management messages, and
communications with employees.
Ratio of Female Executives
Ratio of Female Managers
As of June 2022
(And year-on-year change)
Medium-term Goal
As of June 2022
(And year-on-year change)
Medium-term Goal
ANA Group
ANA
10.0% (+0.7%) Achievement of 30%
as early as possible
in the 2020s
16.3% (+1.6%)
ANA Group
ANA
18.2% (+1.0%) Achievement of 30%
as early as possible
in the 2020s
18.3% (+1.3%)
The ANA Group’s efforts toward gender equality were presented at the UN Global
Compact Leaders Summit in June 2021 (attended by approximately 22,000 people from
180 countries). In October of the same year, we became the first Japanese airline to
receive the Diversity & Inclusion Team Award at the Diversity & Inclusion Awards held by
the International Air Transport Association (IATA), a result of our efforts to revitalize the
airline industry through the promotion of D&I.
(2) Promoting Diverse Work Styles:
Increasing the Percentage of Employees
Taking Paternity Leave
(3) LGBTQ+: Respect for Diversity of Sexuality
The ANA Group is working to establish an environment,
including with regard to its internal systems and facilities,
To promote diverse work styles and enhance the lives of
that is mindful of diversity of sexuality, and to promote under-
employees, the ANA Group is making efforts to encourage
standing among all executives and employees. In April 2022,
male employees to take paternity leave. Using the feedback
in accordance with the "Respect human rights and diversity"
obtained through awareness surveys of employees who have
section of the ANA Group Social Responsibility Guidelines,
used this system in the past, we are working to change
we established the Basic Policy on Respect for Diversity of
awareness and establish systems so that, in our workplaces,
Sexuality, which summarizes our policies and specific actions
paternity leave is taken as a matter of course.
to respect LGBTQ+ employees. We are working to establish
As of April 2022, the utilization rate of this leave system was
these throughout the entire group.
30% (28% for ANA) and the utilization rate of special paid
For the sixth consecutive year, we were awarded a rating
leave for childbirth and childcare was 61% (58% for ANA).
of Gold in the PRIDE Index*, an evaluation index for corpo-
rate actions related to LGBTQ+.
* Organized by the NPO good aging yells
74
The utilization of digital data and the promotion of DX are important themes that are essential to the devel-
opment of our business. Under the motto of "Digital for extending the power of employees," we are striving
to enhance the value of the customer experience. For example, we achieve this by deepening personalized
services that only people can provide by streamlining operations through the use of digital technology, and
by providing tailored services by utilizing customer-related data held by the group. To promote these mea-
sures, we have launched a program to develop digital human resources who can firmly promote DX with a
high level of expertise, and an educational curriculum (ANA Digital Resonance) to improve the digital lit-
eracy of all employees.
Digital Human Resources Development
We have defined the roles of Digital Navigators and Digital
Digital Literacy Training for the Entire Group
In order to promote innovation with the united efforts of all
Leads, drivers of business transformation by leveraging
employees, we held our third Innovation Week in October
their deep knowledge of digital technologies, and train
2021 in conjunction with the Digital Agency’s “Japan Digital
employees to fill these roles. Through education ranging
Day.” At the Innovation Week, we provided opportunities for
from fundamental knowledge of digital technologies and IT
group employees to experience innovation through exhibits
to programming, data analysis, and project based learning
of the latest technologies, online lectures, workshops, and
(PBL), we develop digital specialist human resources tai-
others. We are also expanding our online content to help
lored to the business characteristics of the ANA Group,
employees understand information security and digital
with the Air Transportation Business at its core.
tools, with a total of over 45,000 employees taking part in
programs in fiscal 2021.
Employees Taking on the Challenge of Moving from the Sky to the Digital Field
We develop digital human resources with a deep understanding of the group’s business by having them acquire skills in IT, digital technologies, and
data, based on the experience and knowledge gained at various sites, including airports and maintenance. At the ANA Digital Transformation
Office, ANA Systems Co., Ltd., and other units responsible for DX in the group, more than 100 group employees with diverse backgrounds have
undergone digital human resources education and are now working as core human resources for the promotion of DX.
I am currently in charge of agile development for business systems used by employees at various workplaces in
the ANA Group.
From my two years of on-site experience at airports, I realized that in order to deliver services and hospitality to
customers that only people can provide, it is necessary to harness the power of DX to improve our environments.
This gave me the interest in getting involved with the area of DX in the ANA Group.
Thanks to my experience on the front lines at airports, I firmly believe that it is my strength, and my mission, to
understand the context behind the specialized terminology and language out in the field, accurately capture the
thoughts and insights of the field, and swiftly grasp the true cause of issues.
I would like to continue to grow as a digital talent, supporting the provision of value unique to the ANA Group to
customers, while never losing my field-focused perspective.
WATANABE Ryosuke
ANA Systems Co., Ltd.
Digital Innovation Department
75
Foundations for Sustainable Corporate Value Enhancement
Risk Management
Preserve Corporate Value through Safe and Reliable Business Operations
The ANA Group takes steps to identify, analyze, and appropriately address risks with the
potential to severely impact management. In addition, we have developed groupwide frame-
works to minimize the impact of risks and prevent reoccurrence in case risks materialize.
Risk Management Structure
The ANA Group Total Risk Management Regulations
General
Determine Basic Policies
Board of Directors
provide the basic terms of the group’s risk management
system. Under these regulations, the Group ESG
Management Promotion Committee develops and imple-
ments basic policies. These policies are executed in line
with the basic policies determined by the board of direc-
tors. Each group company / department has established a
risk management system. Here, the ESG Promotion Officer
(EPO) and the ESG Promotion Leader (EPL) are responsible
for promoting and leading risk management operations,
respectively. Each EPL assumes a role to conduct risk
management (risk prevention) operations according to
plans and take swift action while working with the secre-
tariat in the event of a crisis.
General
Formulate and
Issue Basic Policies
Monitor Response Status
Group ESG Management
Promotion Committee
General
Supervise
Risk Management
Chief ESG Promotion Officer
(CEPO)
Preventive
Measures
Identify Risks
Analyze and Evaluate
Consider Response
Measures
Implement and Monitor
Crisis
Response
Collect Information
Implement Initial Response
Determine Causes
Formulate Measures to
Prevent Reoccurrence
General Administration
Risk Management Team
ESG Promotion Officer
(EPO)
EPO
EPO
ESG Promotion Leader
(EPL)
EPL
EPL
Group
Company A
Group
Company B
Group
Company C
Major Initiatives
Share Information with EPLs
We provide newly appointed EPLs with organizational risk man-
measures in accordance with policy. We are currently revising
our privacy policies and internal rules to comply with established
agement training. During regular meetings, EPLs share case
overall fundamental policies, as well as domestic and interna-
studies and provide instructions on measures that need to be
tional laws and regulations regarding personal information and
strengthened. Under this system, EPLs provide instructions and
privacy. We are also complying with the revision of Japan’s Act
responses within their respective companies.
on the Protection of Personal Information, executed on April 1,
2022. We require every employee to receive internal education
Business Continuity Plan (BCP)
In the event of disaster, we have established policies and proce-
on the handling of these laws and regulations, rules on using
our information systems, and the importance of information
dures to ensure the safety of our customers, executives, and
assets and their proper handling. In this way and others, we
employees, to minimize the impact on management and society,
strive to raise employee awareness of the significance and
and to resume normal business operations as quickly as pos-
awareness of information security.
sible. We also make efforts to station emergency communication
equipment and disaster supplies at main offices. The Ministry of
Land, Infrastructure, Transport and Tourism established guide-
Security Export Control*
The ANA Group exports the parts, apparatuses, and other
lines which address building airports resistant to natural disasters.
articles necessary for aircraft maintenance to overseas airports
Under these guidelines, ANA conducts inspections and reinforce-
and aircraft maintenance centers. We recognize that certain
ments of airport facilities and equipment for flooding and power
articles have the potential to be used as weapons. Accordingly,
outages. Additionally, we perform emergency drills at airports in
we practice rigorous security export control of exported articles
case of disasters. Thus, ensuring prompt responses in the event
and their related technologies. We established regulations and
of emergency.
Information Security
Under the ANA Group Security Control Regulations, we con-
structures regarding security export control, and strictly maintain
them through annual audits and training. We not only target
exporting divisions that work in direct export but also divisions
that are involved with custom clearances and other export-
struct and maintain groupwide regulations, in addition to an
related processes.
information security control system. Through this system, we
* Security export control is a term that refers to all regulations placed on exports from
work to enhance system functionality and implement security
Japan by the Foreign Exchange and Foreign Trade Act.
Cybersecurity Measures
The ANA Group is designated as a critical infrastructure provider in Japan by the National Center of Incident Readiness and Strategy for
Cybersecurity (NISC). We implement a multi-level defense in accordance with the guidelines formulated by related ministries. We monitor
our security system 24 hours a day, 365 days a year. The ANA Group trains security specialist human resources, and we have estab-
lished the Computer Security Incident Response Team (CSIRT) to ensure swift action in response to any incidents.
Cybersecurity intelligence is most effective when providing early alerts to counter cyberattacks. Therefore, we participate in informa-
tion sharing organizations, such as the Aviation Information Sharing and Analysis Center (A-ISAC), which consists of airline, aircraft man-
ufacturer, and other members. We also participate in the Surface Transportation Information Sharing and Analysis Center (ST-ISAC).
In these ways, we acquire information from internal and external industry sources as early as possible for use in taking preventive
measures.
We are working on response measures, under the premise that cybersecurity incidents are inevitable. At the same time, we are adopting
a Zero-Trust approach based on a conventional security measure TRUST (i.e., communication with trusted people and objects based on
authentication and process reliability checks). We use this approach as we simultaneously pursue DX in ANA Group services and products,
such as Mobility as a Service (MaaS) and the ANA Super App. In addition, we intend to work even more closely with relevant ministries and
agencies, economic organizations such as Keidanren, and private security organizations such as ISAC; to improve security between
supply chains in today’s society, which is connected across all manner of business industries and sectors.
Recent Increases in Natural Disaster Measures
Recently, torrential downpours and typhoons have been growing in size, inflicting natural disasters countrywide. In response to this,
we are taking various measures to protect our communication facilities and power supply facilities, which are essential infrastructure
facilities for operations within airports.
As a countermeasure for flood damage, we are working to establish an environment that allows for early restoration at our top five
main airports assumed at high risk for flooding (Haneda,
Chubu, Kansai, Fukuoka, and Okinawa). To do this, we are
using the latest hazard maps to begin construction to install
water gates and relocate equipment to higher areas.
Also, we are taking measures for power outages at major
airports to establish environments where operations can con-
tinue during power outages. These measures include connect-
ing necessary terminals for aircraft operations with emergency
power equipment, and replenishing capacity of emergency
power supplies through the use of large storage batteries.
Operation Management Center and an Installed Large Storage Battery (bottom left)
Responses to COVID-19 (Employee Infection Prevention Measures)
The ANA Group created a response system based on
the Crisis Management Manual and the Emergency
Response Manual in late January 2020, when the
COVID-19 infection began to spread. We adhere to
• Disseminate knowledge about COVID-19 to all group employees
• Ensure employees comply with basic preventative measures: avoiding the
Three Cs (Closed spaces, Crowded places, and Close-contact settings),
wearing masks, and washing and disinfecting hands
policies and directions issued by the government and
• Check employee health on a consistent basis before reporting to and
local authorities and prevent the spread of infection as
starting work
we safely operate air transportation services, and our
other services, to support socioeconomic activity, as
• Segregate members into teams and avoid contact between teams to minimize
the impact of an outbreak
• Ensure there is no discrimination against infected employees or employees
well as the lives of the people.
suspected of having been infected
In addition, the company began administering COVID-
19 vaccinations for ANA Group employees and their families, as well as employees of contractors and related businesses in
June 2021. As of May 2022, the third round of workplace vaccinations had been completed.
76
77
Foundations for Sustainable Corporate Value Enhancement
Compliance
Maintain Corporate Value by Enhancing Internal Systems and Further
Instill Our Mission Statement
The ANA Group is taking steps to minimize exposure to legal risks and prevent incidents that
could diminish corporate value.
Compliance Implementation Structure
The ANA Group has developed a compliance structure based on the ANA Group Compliance Regulations to promote compli-
Information Dissemination
To spread awareness of compliance throughout the ANA
Compliance Survey of Group Companies
Surveys on compliance at group companies are conducted
Group, we distribute email and other newsletters on topics
annually. The survey consists of self-evaluations on compli-
related to revisions to laws and regulations, as well as
ance to relevant laws and regulations as to assess issues
points of caution regarding labor and contract practices. In
pertaining to each group company and to the entire group.
fiscal 2021, we reorganized and renewed our compliance
We conduct follow-ups with each company based on
website on our intranet, from a compliance point of view, to
survey results as necessary to resolve any issues.
facilitate a concrete understanding of the do’s and don’ts of
the rules commonly followed by our group executives and
Internal Reporting System
Based on the ANA Group Rules for Handling Internal
ance with laws, regulations, and other standards related to business activities. Under the Group ESG Management Promotion
employees.
Committee Regulations, our advisory Board of Directors, we strive to strengthen awareness of compliance throughout the
We also post manuals and guidelines on various laws
Reporting, we have set up a point of contact (ANA Alert)
entire Group. We appointed an ESG Promotion Officer as the person responsible for promoting compliance at each company,
and regulations to the appropriate website, providing an
both inside and outside the group (via a law firm) to collect
and an ESG Promotion Leader to drive compliance at each workplace.
Major Initiatives
Legal Compliance Education
We conduct a variety of educational programs for every
Initiatives to Prevent Harassment
We provide various training and education programs to
group executive and employee to acquire correct knowl-
prevent workplace harassment including training for newly
edge of and exercise appropriate judgment related to vari-
appointed managers. In fiscal 2021, in response to
ous laws and regulations. We hold regular seminars on
requests from each group company, implemented training
contract practices, labor practices, and laws and regula-
that encourages participants to recognize and reconsider
tions related to air transportation, improving our familiarity
the risk of harassment and appropriate measures in their
with business-essential knowledge. Seminars on competi-
own workplace based on a harassment awareness survey.
tion law and air transportation for group executives and
Additionally, we provided harassment prevention education
employees working overseas, are also available, focusing
for each group executive and employee through e-learning
on minimizing legal risks globally. We also organize semi-
to develop a proper understanding of harassment and
nars tailored to topics and content that reflect the needs of
strive for zero-tolerance and more comfortable work envi-
each group company and/or department as needed. In
ronments throughout the group.
addition to conducting online seminars, we maintain a
global learning environment for group executives and
employees to learn about various laws and regulations by
posting educational materials and explanatory videos on
the intranet.
infrastructure where group executives and employees have
compliance-related information and resolve any issues. The
access to such information at any time. In addition, we
reporting system is available to all group executives,
established a simple way for group executives and employ-
employees, and temporary personnel involved in the
ees to ask questions from the website on legal issues of
group’s business. The ANA Group retirees and executives
their business. This allows us to support them in making
and employees of our business partners may also use the
appropriate decisions in compliance with said laws and
reporting system. We protect the privacy of the whistle-
regulations.
blower and relevant parties, and assure that no punitive
measures will be taken against those that seek consultation
or cooperate in confirming facts. This enables us to obtain
internal risk-related information promptly and aids in self-
correction. Additionally, we introduced a report form that
can be accessed directly from our internal reporting web-
site on our intranet. In doing so, we improved the system
and increased convenience. In fiscal 2021, there were 184
reports within the group, and the system has spread
throughout the group as a reliable and effective whistle-
blowing system.
Compliance Website
Strengthening Cooperation with
Group Companies and Overseas Branches
To strengthen the compliance structure across the entire
group, we have clarified the points of contact between our
Legal & Insurance Department, group companies, and ANA
overseas branches, building and operating a structure
facilitating two-way communication.
ANA Alert Poster
Educational Materials on Various Laws and Regulations
E-Learning Materials
78
79
Foundations for Sustainable Corporate Value Enhancement Corporate Governance
Mission Statement
Built on a foundation of
security and trust, “the wings
within ourselves” help to fulfill the
hopes and dreams of an
interconnected world.
The ANA Group aims to practice management that contrib-
utes to value creation for our various stakeholders in accor-
dance with our Mission Statement and to promote
sustainable growth and enhance corporate value over the
long term. To accomplish this goal, ANA HOLDINGS INC.
plays the lead role in group management for overall
policies and goal-setting, pursuing transparent, fair, prompt,
and effective decision-making. For this purpose, we have
built a corporate governance system and work continuously
to enhance governance within the ANA Group.
ANA HOLDINGS Corporate Governance System
Holding Company
Structure
The ANA Group has adopted a holding
company structure to remain competitive
in any challenging business environment.
Each group company is guided by experi-
enced and specialized personnel who are
delegated authority to operate their
respective businesses.
Company with Audit &
Supervisory Board Members
The board of directors and members of
the Audit & Supervisory Board oversee
and audit the execution of duties by
directors. The group strengthens the
supervisory function of the board of
directors by appointing outside directors.
We also strengthen the audit function of
members of the Audit & Supervisory
Board by appointing full-time outside
members.
Corporate Executive
Officer System
The group has adopted a corporate
executive officer system under which
management and executive functions are
separated to promote efficient decision-
making and to clarify responsibilities and
authority in the execution of duties. Under
this system, directors supervise manage-
ment decision-making and the execution
of duties, while corporate executive
officers conduct day-to-day business.
Corporate Governance System
Appointment /
Dismissal
Appointment /
Dismissal
Accounting Auditors
Account
auditing
Reporting
Personnel
Advisory
Committee
Remuneration
Advisory
Committee
Audit & Supervisory Board
Auditing
Reporting
Audit &
Supervisory Board
Members Office
General Meeting of Shareholders
Board of Directors
Group Management Committee
Appointment / Dismissal
Board of Directors
Advice
Appointment /
Dismissal
Supervision
Proposal / Report
Proposal / Report
President & Chief
Executive Officer
Group Management
Committee
Reporting
Overall management
Proposal / Report
Group ESG Management Promotion Committee
Number of
Board Members
Directors 11
(including 4 independent outside
directors and 1 female director)
Audit & Supervisory
Board members 5
Term of Office
1 year
(also applies to
outside directors)
Number of
Meetings*
14
Number of Meetings*
78
The board of directors of ANA HOLDINGS INC. sets groupwide man-
agement policies and goals, while also overseeing the management and
business execution of each group company. The board of directors is
chaired by the chairman of the board. All directors, including outside
directors, and all members of the Audit & Supervisory Board, including
outside members, participate in board meetings.
Chaired by the President & Chief Executive Officer, the Group
Management Committee consists of full-time directors, full-time Audit &
Supervisory Board members, and others, and functions as an organiza-
tion that complements the board of directors. The role of the committee is
to provide more timely and detailed discussions of management matters.
Internal Audit Division
Instruction / Supervision
Advisory Committees
Chief ESG Promotion Officer
Director in charge of Group Risk and Compliance
Internal auditing
Instruction / Supervision
Secretariat
Corporate Sustainability
General Administration
Legal & Insurance
Group Companies and
Divisions
ESG Promotion Officers / Leaders
Responsible for ESG promotion in each company / department
(As of July 31, 2022)
Personnel Advisory Committee
Remuneration Advisory Committee
Chairman
Number of
Members
Number of
Meetings*
Chairman
Number of
Members
Number of
Meetings*
YAMAMOTO Ado
5
4
YAMAMOTO Ado
7
3
The Personnel Advisory Committee discusses the selection of director
candidates and the dismissal of directors, and reports to the board of
directors. The Personnel Advisory Committee, chaired by an outside
director, consists of four outside directors and one inside director to
ensure transparency and fairness in the selection process of directors.
The Remuneration Advisory Committee consists of a majority of outside
directors, outside Audit & Supervisory Board members, and outside
experts to ensure fair and transparent process of decision-making
related to director remuneration. The committee develops the director
remuneration system and director remuneration standards based on
surveys of director remuneration at other companies provided by out-
side experts and reports to the board of directors.
Audit & Supervisory Board
Number of Members
Audit & Supervisory
Board members 5
(including 3 independent outside
Audit & Supervisory Board members)
Term of Office
4 years
(also applies to
outside Audit &
Supervisory Board
members)
* The number of meetings held in fiscal 2021
Number of
Meetings*
13
To ensure healthy development and to earn greater levels of trust from
society through audits, we appoint five individuals to serve as Audit &
Supervisory Board members who possess extensive experience and the
advanced expertise required to conduct audits.
The Audit & Supervisory Board strengthens the collaboration with the
accounting auditors and the Internal Audit Division. The board also
exchanges opinions with outside directors on a regular basis.
80
81
Foundations for Sustainable Corporate Value Enhancement
Corporate Governance
Management Members: Directors As of July 31, 2022
7
6
8
9
10
11
2
1
3
4
5
Name
Position at ANA HOLDINGS
Independent
Directors
Executive
Officers
Assignments
Personnel
Advisory
Committee
Remuneration
Advisory
Committee
Corporate Management
and Long-Term Strategy
Airlines Business and
Safety
Human Resources
Development and Diversity
Finance and Accounting
Legal and Risk
Management
Sustainability
Technology and Innovation
Global Management
Special Knowledge, Experience, and Skills
1 KATANOZAKA Shinya
Representative Director,
Chairman
Chairman of the Board of Directors
2 HIRAKO Yuji
Member of the Board, Vice
Chairman
3 SHIBATA Koji
4 FUKUZAWA Ichiro
Representative Director,
President & Chief
Executive Officer
Representative Director,
Senior Executive Vice
President
Chairman of the ANA Group Management Committee,
Head of Group ESG Management Promotion Committee,
In charge of the Internal Audit Division
Chairman, ALL NIPPON AIRWAYS CO., LTD.
Chairman of the ANA Group Productivity Enhancement Committee
In charge of Corporate Strategy
5 INOUE Shinichi
Member of the Board
President & Chief Executive Officer,
ALL NIPPON AIRWAYS CO., LTD.
6 HATTORI Shigeru
Member of the Board,
Executive Vice President
Chairman of Group ESG Management Promotion Committee;
In charge of Group Risk and Compliance, Legal & Insurance,
General Administration
7 HIRASAWA Juichi
Member of the Board,
Executive Vice President
In charge of Government & Industrial Affairs and Executive
Secretariat
8 YAMAMOTO Ado
Independent Outside
Director
9 KOBAYASHI Izumi
Independent Outside
Director
10 KATSU Eijiro
Independent Outside
Director
11 MINEGISHI Masumi
Independent Outside
Director
Chairman
Chairman
82
83
The reasons behind the selection of the skill sets that the company expects its directors to possess are set forth in the Notice of the 77th Ordinary General Meeting of Shareholders.
https://ssl4.eir-parts.net/doc/9202/ir_material5/184654/00.pdf
Foundations for Sustainable Corporate Value Enhancement Corporate Governance
Appointment of Directors
Approach to Selection of Director Candidates
Internal
Directors
The Company selects directors from among candidates who have impeccable character, extensive experience,
broad insight, and advanced expertise. Ideal candidates have the potential to contribute to improved policy-making,
decision-making, and oversight befitting a global airline group with widespread businesses centered on the Air
Transportation Business. Our selection is made without regard to gender, nationality, or other such factors, and falls
within the scope of the Civil Aeronautics Act and other relevant laws.
The group selects a multiple number of outside directors who possess practical viewpoints based on extensive
Outside
Directors
experience in corporate management, or who possess unique global or regional viewpoints. These individuals must
be independent from the company, and able to offer objective and expert opinions based on a sophisticated knowl-
edge of social and economic trends.
Reasons for Appointment of Directors
• • The following director candidates were selected based on the judgment that their abundant experience, performance, and
insight would be crucial to overcoming the management crisis caused by the current COVID-19 pandemic and for achieving
sustainable increases in group corporate value.
• • These director candidates assumed their positions after being appointed at the 77th Ordinary General Meeting of Shareholders.
KATANOZAKA Shinya
Chairman of the Board
Chairman of the Board of
Directors
HIRAKO Yuji
Member of the Board, Vice
Chairman
Brief Personal History /
Major Concurrent Positions
2011: Executive Vice President
2015: President & Chief Executive
Officer, Representative Director
2022: Representative Director,
Chairman (present)
Major Concurrent Position
Outside Director, Tokio Marine
Holdings, inc.
2015: Member of the Board of
Directors
2022: Member of the Board,
Vice Chairman (present)
I
n
t
e
r
n
a
l
D
i
r
e
c
t
o
r
s
SHIBATA Koji
Representative Director,
President & Chief Executive
Officer
2020: Member of the Board of
Directors
2021: Representative Director
2022: Representative Director,
President and CEO (present)
Reasons for Appointment
KATANOZAKA Shinya has extensive experience in sales, human resources, corporate
planning, and other disciplines. He was appointed representative director and president &
CEO in April 2015. Since then he has achieved four consecutive years of profit growth,
and at the time of the business crisis caused by COVID-19, he moved immediately to
secure liquidity on hand and took the lead in formulating and implementing the Business
Structure Reform plan. Since April 2022, Mr. Katanozaka has served as chairman and
chairman of the board of directors, endeavoring to strengthen the functions of the board
by leveraging his extensive experience and achievements over his career.
HIRAKO Yuji has been involved in sales and finance divisions for many years. In April
2017, he was appointed president & CEO of ALL NIPPON AIRWAYS CO., LTD., a core
subsidiary of the ANA Group. Since that time, he has guided the company with an
uncompromising stance on safety and lead the company toward becoming the world’s
leading airline. He has also taken a leadership role in reforming the service model for the
post-COVID-19 era. As a member of the board and vice chairman since April 2022, Mr.
Hirako has contributed to strengthening the functions of the board of directors by lever-
aging his extensive experience.
SHIBATA Koji has been involved in sales and international alliances for many years. As a
corporate executive officer since June 2020, and as representative director and executive
vice president since April 2021, he has been in charge of the planning and execution of
Group Corporate Strategy. As representative director, president & CEO since April 2022,
Mr. Shibata has been pursuing group management, always maintaining a global perspec-
tive and placing the highest priority on safety. He contributes to strengthening the func-
tions of the board of directors by leveraging his extensive experience and achievements
over his career.
FUKUZAWA Ichiro
Representative Director,
Senior Executive Vice
President
2019: Member of the Board of
Directors
2022: Representative Director, Senior
Executive Vice President
(present)
Major Concurrent Position
Outside Director, Japan Airport
Terminal Co. Ltd.
Since June 2019, FUKUZAWA Ichiro has served as director and chief financial officer. In
April 2021, he was named executive vice president and chief financial officer, responsible
for securing a stable financial base for the group and for implementing financial strategies,
including efficient capital restructuring. In addition, as representative director and senior
executive vice president since April 2022, he has been in charge of the planning and
execution of Group Corporate Strategy, providing appropriate support to the president &
CEO and contributing to the strengthening of the functions of the board of directors by
leveraging his extensive experience and achievements over his career.
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Brief Personal History /
Major Concurrent Positions
Reasons for Appointment
INOUE Shinichi
Member of the Board of
Directors
2022: Member of the Board of
Directors (present)
President & Chief Executive
Officer
ALL NIPPON AIRWAYS CO., LTD.
Chairman of All Japan Air Transport
and Service Association Co., Ltd.
2022: Member of the Board of
Directors (present)
HATTORI Shigeru
Member of the Board,
Executive Vice President
HIRASAWA Juichi
Member of the Board,
Executive Vice President
2022: Member of the Board of
Directors (present)
INOUE Shinichi was involved in the establishment of Peach Aviation Limited, Japan’s first
low cost carrier (LCC), and as representative director & CEO, he has achieved rapid
growth for the company. In addition, since April 2020, he has overseen the sales division
as representative director and executive vice president of ALL NIPPON AIRWAYS CO.,
LTD., a core subsidiary of the ANA Group. As representative director and president &
CEO of the company from April 2022, Mr. Inoue has been pursuing the management of
that company with safety as the top priority in order to put it back on a growth trajectory
that will see it become a leading global airline.
HATTORI Shigeru has been involved with the airport and human resources divisions for
many years and has also been stationed in both Europe and the U.S. Since April 2016,
he has overseen the airport division as executive officer of ALL NIPPON AIRWAYS CO.,
LTD., a core subsidiary of the ANA Group. In addition, he has steadily cultivated his global
experience and abilities by serving as ALL NIPPON AIRWAYS CO., LTD. General
Manager of the Americas since April 2019. Since April 2022, as a senior executive officer
at the company, Mr. Hattori has been pursuing the promotion of ESG and risk
management.
HIRASAWA Juichi has been involved with the business planning and planning
divisions for many years. From April 2018, he served as an executive officer of ALL
NIPPON AIRWAYS CO., LTD., a core subsidiary of the ANA Group, where he was in
charge of creating and promoting innovations such as automated airport vehicle
operation and MaaS in addition to formulating and implementing the company’s
Corporate Strategy. Since April 2022, Mr. Hirasawa has served as a senior execu-
tive officer at the company, working primarily on industrial policy and other matters.
Brief Personal History /
Major Concurrent Positions
Reasons for Appointment
YAMAMOTO Ado
Independent Outside Director
2013: Member of the Board of
Directors (present)
Major Concurrent Positions
Advisor of Nagoya Railroad Co., Ltd.
Outside Director, Chubu-Nippon
Broadcasting Co., Ltd.
Chairman, Nagoya Chamber of
Commerce & Industry
KOBAYASHI Izumi
Independent Outside Director
2013: Member of the Board of
Directors (present)
Major Concurrent Positions
Outside Director, Mitsui & Co., Ltd.
Outside Director, Mizuho Financial
Group, Inc.
Outside Director, OMRON
Corporation
KATSU Eijiro
Independent Outside Director
2020: Member of the Board of
Directors (present)
Major Concurrent Positions
President and Representative
Director and Co-CEO and COO,
Internet Initiative Japan Inc.
Outside Director, Nippon Television
Holdings, Inc.
YAMAMOTO Ado has a wealth of experience and wide-ranging expertise in transporta-
tion industry management and as a top executive in an economic organization. At meet-
ings of the board of directors, he offers the benefit of his background to provide opinions
and advice on corporate strategy, management of strategic investment projects, new
businesses, and personnel policies.
Mr. Yamamoto was appointed member of the Remuneration Advisory Committee and
the Personnel Advisory Committee in June 2016. In June 2020, he was appointed chair
of the Remuneration Advisory Committee and Personnel Advisory Committee.
KOBAYASHI Izumi has a wealth of experience and expertise as a representative for
private financial institutions and international development and finance institutions, as well
as an outside director for other operating companies. At meetings of the board of direc-
tors, she offers the benefit of her background to provide opinions and advice on
Corporate Strategy, risk management, DEI, sustainability, and other issues from a global
perspective.
Ms. Kobayashi was appointed as a member of the Remuneration Advisory Committee
in July 2013 and a member of the Personnel Advisory Committee in June 2016.
KATSU Eijiro has provided opinions and recommendations on issues regarding the
management of strategic investment projects and new businesses based on a high level
of insight due to his experience as a government official, including his tenure as vice
minister of finance and his extensive experience in ICT company management.
Mr. Katsu was appointed as a member of the Remuneration Advisory Committee and
the Personnel Advisory Committee in June 2020.
MINEGISHI Masumi
Independent Outside Director
2020: Member of the Board of
Directors (present)
Major Concurrent Positions
Chairperson and Representative
Director of the Board, Recruit
Holdings Co., Ltd.
Outside Director, Konica Minolta, Inc.
MINEGISHI Masumi has led many new businesses to success at Recruit Co., Ltd. (cur-
rently Recruit Holdings Co., Ltd.). As representative director and president & CEO of the
company since April 2012, he has contributed to a significant increase in the company’s
corporate value through mergers and acquisitions of overseas companies, and has
extensive experience as a corporate manager in the lifestyle and service industry. He has
been elected as a new candidate for the position of independent outside director in the
expectation that he will supervise the company and provide general management advice
from an objective perspective based on his experience and knowledge.
84
85
Foundations for Sustainable Corporate Value Enhancement
Corporate Governance
Management Members: Audit & Supervisory Board Members As of July 31, 2022
Fiscal 2021 Initiatives
Approach to Selection of Candidates for Audit & Supervisory Board Member
Major Agenda Items for the Board of Directors (Fiscal 2021)
Audit &
Supervisory
Board
Members
To ensure healthy development and to earn greater levels of trust from society through audits, the Company appoints
individuals to Audit & Supervisory Board members from both inside and outside the Company who possess extensive
experience and the advanced expertise required to conduct audits. Our selections do not consider gender, nationality, or
other factors. The Company appoints at least one individual who possesses appropriate levels of knowledge related to
finance and accounting.
Outside Audit & Supervisory Board members are selected from among candidates who have advanced levels of
knowledge in a variety of areas and who are independent of the ANA Group. These individuals include candidates who are
well-versed in corporate management, candidates who have sophisticated knowledge of social and economic trends, and
candidates who have advanced knowledge in finance, accounting, or legal matters.
KANO Nozomu*
MIURA Akihiko
MITSUKURA Tatsuhiko
MATSUO Shingo*
OGAWA Eiji*
Outside Audit & Supervisory
Audit & Supervisory
Board Member
Board Member
Audit & Supervisory
Board Member
Outside Audit & Supervisory
Outside Audit & Supervisory
Board Member
Board Member
* Independent Audit & Supervisory Board members
Reasons for Appointment of Audit & Supervisory Board Members
Mr. MITSUKURA Tatsuhiko and Mr. OGAWA Eiji were elected at the 77th General Meeting of Shareholders.
MITSUKURA Tatsuhiko
Audit & Supervisory
Board Member
MITSUKURA Tatsuhiko has been involved in maintenance for many years. Since April 2021, he has pro-
moted safety and security activities as the chief safety officer of ALL NIPPON AIRWAYS CO., LTD., a core
subsidiary of the ANA Group. Mr. Mitsukura has extensive knowledge and experience in the airline busi-
ness as well as technical areas such as safety assurance.
Reasons for Appointment
OGAWA Eiji
Outside Audit & Supervisory
Board Member
OGAWA Eiji, as a specialist in advanced international finance, etc., has a high degree of expertise and
knowledge in finance, accounting, and financial matters. Although his corporate management experience
is limited to serving as an outside executive officer, in addition to the above expertise, he has extensive
experience and accomplishments as a manager of a university.
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Mr. KANO Nozomu was elected at the 74th General Meeting of Shareholders.
Mr. MATSUO Shingo was elected at the 75th General Meeting of Shareholders.
Mr. MIURA Akihiko was elected at the 76th General Meeting of Shareholders.
1. Items Related to General Meetings of Shareholders
• ANA brand / Peach business plan
• Proposals to be submitted to General Meetings of
• Current situation and strategy of Cargo business
Shareholders for approval
• Current situation and issues of Trade and Retail business
2. Items Related to Directors, Corporate Executive Officers, the
8. Items Related to Disposal and Receipt of Important Assets
Board of Directors, etc.
• Aircraft procurement, sales, and leases
• Selection of director candidates and corporate executive
• System investment and capital investment
officers
9. Investment-Related Matters
• Results of the evaluation of the effectiveness of the Board
10. Items Related to Major Debts
of Directors
• Financing plans
• Policies for officer remuneration
• Subordinated syndicated loan agreement
• Renewal of liability insurance contract for directors and
• Bond issuances
officers
11. Items Related to Corporate Governance
3. Items Related to Financial Results
• Compliance with the revised Corporate Governance Code
• Financial results and earnings forecasts
• Climate change-related disclosure based on the guidance
• Reports from group companies
• Evaluations in the capital markets
4. Items Related to Shares and Capital
of TCFD
• Establishment of goals for women in leadership positions
• Group ESG Management Promotion Committee report
• Response to the Tokyo Stock Exchange’s market
• Valuation of cross-shareholdings
restructuring
• Capital stock, etc.
12. Other Items
• Progress of metaverse business
5. Items Related to Organizational Restructuring
• Status report on strategic investments
• Reorganization of ANA X Inc. and ANA Akindo Co., Ltd.
• ANA SKY WEB system failures
6. Items Related to Personnel and Organizations
• Net Promoter Score (NPS) survey results
7. Items Related to the Company and Important Subsidiaries
• ANA’s Way Survey (employee awareness survey) results
• ANA Group situation under the COVID-19 pandemic
• Personnel Advisory Committee report
• ANA Group Business Structure Reform (action plan)
• Remuneration Advisory Committee report
• Discussions regarding business and other risks and risk
management
Changes in Board Meeting Length
Since we began encouraging more substantial discussions
Discussion by Agenda Topic (Fiscal 2021)
We encourage active discussions of corporate strategy at
in board meetings, the annual total time devoted to board
board meetings, selecting major related topics about which to
meetings has increased over the last several years.
exchange opinions from medium- to long-term perspectives.
Name
Independent
Directors
Remuneration
Advisory
Committee
Special Knowledge, Experience, and Skills
Airlines Business
Finance and
Legal and Risk
and Safety
Accounting
Management
Sustainability
27.7
28.9
26.4
22.8
34.4 hours
Matters related to general meetings of
shareholders, board of directors, etc.
5.2%
Other
9.7%
Matters related
to financial
results
14.5%
16.6%
54.0%
Important matters,
including corporate
strategy and busi-
ness plans
2017
2018
2019
2020
2021
(FY)
Matters related to fleet
plan, investments,
asset sales, etc.
87
KANO Nozomu
MIURA Akihiko
MITSUKURA Tatsuhiko
MATSUO Shingo
OGAWA Eiji
86
Foundations for Sustainable Corporate Value Enhancement
Corporate Governance
Efforts to Improve the Effectiveness of the Board of Directors
The Company believes that it is important for directors themselves to enhance the effectiveness of the board of directors, while con-
Third-Party Evaluation and Analysis Process
stantly considering the state of the board of directors and governance. At least once each year we analyze, evaluate, and discuss the
overall effectiveness of the board of directors, and work to address issues identified during this process. Through the PDCA cycle,
in which we again address and evaluate those issues at the end of each fiscal year, we work to improve the functions of the board.
In fiscal 2021, in order to further enhance the objectivity and transparency of the evaluation, we conducted a third-party organization
questionnaire as well as interviews regarding the results of that questionnaire to further deepen our analysis and evaluation.
We will continue to enhance the PDCA cycle in order to further improve its effectiveness.
In fiscal 2021, we commissioned Sumitomo Mitsui Trust Bank, Limited, which has a
track record of supporting board effectiveness assessments for many companies, to
conduct a questionnaire and interviews. The number of survey questions, including
Questionnaire to all directors and Audit & Supervisory Board members
Analysis and evaluation by a third-party organization
open-ended questions, was increased from 16 to 36 in order to expand and deepen
Interviews with the board chair, representative directors, and outside directors
the scope of the survey. As a result, the company’s board of directors was evaluated as
more active in discussions and more effective than those of other companies. It was
confirmed that there is room for improvement in terms of meeting management and the
composition of the board of directors.
In-depth analysis and evaluation by a third-party organization
Reporting of results to the board of directors /
deliberation and consideration of improvement measures
Fiscal 2020
Action / Plan
Define Issues
Fiscal 2021
Do
Improvement Initiatives
Check
Evaluate
Action / Plan
Identify Issues
Fiscal 2022
Do
Improvement Initiatives
Materials provided to the board of
directors will include a summary of
internal meeting discussions to
enhance the amount and quality of
information shared.
In addition to including the status of internal discussions
in the materials, it is now possible to receive explana-
tions regarding details of the discussions, which is an
improvement over the past.
Increase time in board meetings for
discussion of medium- to long-term
management issues and, depending
on the content, set aside time
separately from board meetings.
Provide periodic explanations of ANA
Group management issues from
representatives of major group
companies.
Discussions concerning corporate strategy and our
business portfolio are also gaining momentum. Due to
time constraints, it will be necessary to generate time for
discussion by transferring authority to the executive
officers, who can narrow down the agenda and reduce
the time allotted for explanations.
Extra efforts should be made to enhance the follow-up
of corporate strategy and in-depth study of investment
decision criteria and withdrawal criteria.
In addition to meetings with the finan-
cial statement auditor, opportunities
should be provided to outside directors
to discuss issues in meetings separate
from board of directors’ meetings.
Time was set aside, separate from board meetings, for
outside directors to discuss issues facing the Group.
We have established opportunities for meetings in which
outside executives engage in direct dialogue with the
Audit & Supervisory Board, and we feel this is sufficient.
Management
Further streamlining of board meeting operations is
needed, as there is insufficient time for discussion of
corporate strategy and investments.
Increase the number of written reports and allow time for discussion.
Share the estimated discussion time with the director in charge of discussions
in order to enhance time management.
Discussion
Details
More discussions on medium- to long-term manage-
ment issues and monitoring of investments are
necessary.
For matters requiring more time for discussion, such as medium-term corporate
strategy and strategic investment projects, opportunities shall be provided for
small-group discussions separately from board of directors’ meetings, as
necessary.
In cooperation with the Corporate Planning Department, further enhance
discussions at board of directors’ meetings.
Providing
Information to
Outside
Directors
While enhancing the provision of information, the
content and quantity of materials should be carefully
examined according to the characteristics of each
agenda item, so that the content can be understood
more efficiently.
Depending on the topic, either reduce the number of materials or, if the amount
of material is more significant, attach an executive summary or similar document
that clearly states the key points of the discussion.
Town meetings will continue to seek effective operation methods.
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Efforts are being made to provide the
details of discussions at internal meetings
(opinions for and against topics) in greater
depth than before. However, there is still
insufficient information sharing related to
the background behind the discussions
and the tone of debate.
More substantial explanations and discus-
sions of medium- to long-term manage-
ment issues and the status of each group
company are necessary.
In addition to meetings with the financial
statement auditor, outside directors are
required to hold meetings separate from
board of directors’ meetings.
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Visits to frontline business units and town
meetings* were generally well-received and
should be continued.
We will conduct interviews in advance
regarding the interests and wishes of
outside directors regarding on-site
visits and town meetings with frontline
divisions, and continue to implement
effective initiatives.
Town meetings were very effective in terms of listening to
voices on the ground.
Board
Membership
Within the company, there is a need to increase the
number of female executives and executives with
digital skills.
The appropriate composition of the board of directors will be discussed on an
ongoing basis by the Personnel Advisory Committee and the board of directors.
* Dialogue between officers and employees
Cross-Shareholdings
We believe that it is essential to maintain and strengthen col-
the significance of holdings and the benefits and risks associ-
laborative relationships with our business partners for further
ated. If, as a result of a comprehensive review, we determine
Equity Alliances with Overseas Airlines
The total amount of shares of overseas airlines owned by ANA
(1) PAL HOLDINGS, INC. (Parent Company of Philippine Airlines)
• Strengthen strategic partnership with PAL through a wide range of business alliances,
including code-share and mileage program alliances, the dispatch of directors, and
growth and development of group businesses.
that the evaluation results will continue to be low for a certain
HOLDINGS on our balance sheet is ¥33,844 million, which
outsourcing of airport operations.
The ANA Group, consisting mainly of our Air Transportation
period of time and further will not contribute to sustainable
Business, engages in cross-shareholding when we deem such
growth over the medium to long term, we will reduce our hold-
holdings to contribute to improved corporate value over the
ings in said stock. In fiscal 2021, we reduced our cross-share-
medium to long term from the viewpoint of continuing smooth
holdings in nine companies.
business, maintaining business alliances, and growing profits
ANA HOLDINGS owns shares in 27 publicly traded compa-
through strengthening business relationships.
nies as cross-shareholdings for other than pure investment
Every year, the board of directors conducts a comprehensive
purposes. The total amount on the balance sheet corresponding
review of individual cross-shareholdings. The board evaluates
to these shares as of the end of fiscal 2021 is ¥86,682 million.
accounts for 39.0% of our cross-shareholdings. The purpose of
these holdings is as described on the right.
Overseas airlines
39.0%
Details of
Cross-
Shareholdings
Ongoing cross-shareholdings
deemed necessary
31.9%
Cross-shareholdings likely to
increase revenues or provide
other synergies
29.1%
• Pursue the transportation of people and cargo between Japan and the Philippines,
where passenger traffic is relatively high within Southeast Asia.
• Enhance the ANA Group presence in the Southeast Asian market.
(2) Vietnam Airlines
• Strengthen strategic partnership with Vietnam Airlines through a wide range of business
alliances, including code-share and mileage program alliances, the dispatch of directors,
and outsourcing of airport operations.
• Pursue the transportation of people and cargo between Japan and Vietnam, which has
particularly high growth potential in Asia.
• Enhance the ANA Group presence in the Southeast Asian market.
88
89
Foundations for Sustainable Corporate Value Enhancement
Corporate Governance
Director and Audit & Supervisory Board Member Remuneration
1. Basic Policies for Director Remuneration
The basic policies for director remuneration are as follows.
annual performance targets have been accomplished. The ratio
of variable remuneration ranges from 0.0 to 1.0 times according
• We set compensation at a level commensurate with the role
to the degree of achievement for annual performance targets.
and responsibility of each position.
a. Bonuses
• This will contribute to the enhancement of medium- to long-
We use net income, safety, customer satisfaction, and
term corporate value.
employee satisfaction as indicators that reflect the perfor-
• We will incorporate stock-based compensation that allows us
mance and basic quality for a single fiscal year. Bonuses are
to share profits with our shareholders.
determined based on the scores of each indicator.
• A Remuneration Advisory Committee, chaired by an outside
b. Stock-based compensation
director and consisting of a majority of outside directors, will
be established to ensure a fair and transparent decision-
making process.
2. Procedures for Determining Remuneration
The board of directors decides director remuneration after
We use return on equity (ROE), operating income margin,
CO2 emissions volume, an external ESG evaluation indicator,
and a productivity indicator as indicators of improved
corporate value over the medium to long term and of sus-
tainable growth. Stock-based compensation is determined
based on the scores of each indicator.
deliberation of the details, taking into account reports by the
(2) Outside directors
Remuneration Advisory Committee. The total amount of direc-
Remuneration for outside directors consists of fixed compen-
tor remuneration shall be within the scope of the amount
sation (monthly compensation) without a performance-linked
approved at the Ordinary General Meeting of Shareholders.
portion. This compensation encourages outside directors to
exercise their supervisory functions from an independent
3. Remuneration Advisory Committee
See page 81
standpoint.
4. Remuneration System
(1) Internal directors
(3) Audit & Supervisory Board members
Remuneration for both inside and outside Audit & Supervisory
Board members consists of fixed compensation (monthly com-
In addition to a fixed basic remuneration, remuneration for
pensation) without a performance-linked portion. This compen-
directors includes an annual variable performance-linked bonus
sation encourages those members to exercise their supervisory
and long-term incentive stock option plan as a means of pro-
functions from an independent standpoint.
viding healthy incentives for pursuing sustainable growth for
Remuneration levels for members of the Audit & Supervisory
the Company.
Board are determined in line with remuneration at other com-
The ratio of fixed basic remuneration and bonus / stock
panies and in consultation with outside experts.
options for total remuneration is 1:0.67 fixed to variable if
Conceptual Diagram for the Officer Remuneration System
Ratio
Fixed
1
Variable
0.67*1
Remuneration
(1) Basic remuneration
(2) Bonus
(short-term performance-linked)
(3) Stock-based compensation
(long-term incentive)
Measure for fiscal year results
according to various criteria
Evaluate contributions to corporate
value over the medium to long term
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Internal directors
Payment according to
title, etc.
Net Income
Safety
Customer Satisfaction
Employee Satisfaction
Outside directors Uniform payment for all members
Audit & Supervisory
Board members
Payment according to status as
full-time or part-time
—
—
Return on Equity (ROE)
Operating Income Margin
CO2 Emissions
ESG Indicators
Productivity
—
—
Payment method
Monthly (cash)
Annually (cash)
Multi-year evaluation*3
Remuneration limits
Annual total for (1) and
(2) is limited to a
maximum of ¥960 million
Per resolution at the 66th Ordinary
General Meeting of Shareholders,
held June 20, 2011
(3) Annual maximum of
¥100 million*2
Per resolution at the 70th Ordinary
General Meeting of Shareholders,
held June 29, 2015
Annual maximum of
¥180 million
Per resolution at the 74th Ordinary
General Meeting of Shareholders,
held June 21, 2019
*1 Range from 0.0 to 1.0 times according to the degree of achievement for annual performance targets.
*2 At the 70th Ordinary General Meeting of Shareholders held June 29, 2015, our shareholders passed a resolution to contribute funds to a trust up to a total of ¥100 million per fiscal year (up
to ¥500 million for every five fiscal years) to be used as stock-based compensation.
*3 Upon retirement, stock-based compensation granted during a term of office will be delivered in the form of shares (or partly in cash equivalent to the amount when converted to market value)
through the stock delivery trust.
90
Calculation Method
Performance-linked remuneration for internal directors is calculated based on the following approach.
Bonuses
The payment coefficient is determined by combining the following four indicators. The figures in the graph show the
percentage of each indicator related to the total bonus when a target is achieved (minimum 0%, maximum 150%).
Payment Concept: Bonus
Net Income
Customer Satisfaction
Employee Satisfaction
Minimum
(0%)
Target
Achieved
(100%)
Maximum
(150%)
82
8
10
125
12.5
12.5
Net income target:
Customer satisfaction target: Net Promoter Score (NPS) in the NPS survey indicated in the annual business plan
Employee satisfaction target: Points scored in ANA’s Way Survey (internal group survey)
Safety target:
Net income attributable to owners of the parent company indicated in the annual business plan
Indicator for a reduction in payment as a result of a security or safety event that has a significant impact on society (to be
confirmed by the Remuneration Advisory Committee)
Stock-Based
Compensation
The payment coefficient is determined by combining the following five indicators. The figures in the graph show the percentage
of each indicator related to the total stock-based compensation when a target is achieved (minimum 0%, maximum 150%).
Payment Concept: Stock-Based Compensation
ROE
Operating Income Margin
CO2 Emissions
ESG
Productivity
Minimum
(0%)
Target
Achieved
(100%)
Maximum
(150%)
12.5
12.5
15
10
50
37.5
37.5
15
10
50
ROE target:
Operating income margin target: Operating income margin at the end of fiscal 2022 indicated in the medium-term business plan
CO2 emissions target:
ESG target:
ROE as of the end of fiscal 2022 in the medium-term business plan
CO2 emissions per revenue ton-kilometer as of the end of fiscal 2022 indicated in the medium-term business plan
Number of ESG indicators achieved as of the end of fiscal 2022, based on the following four external evaluation indicators
(1) Selection as a component by DJSI World/Asia Ind
(2) Selection as a component by FTSE4Good
(3) Selected as a component by MSCI
(4) CDP A– rating
These four external evaluations reflect the latest global trends and demands from stakeholders. These evaluations also allow us to measure
Productivity target:
the group’s level of ESG management in comparison with other companies.
Productivity improvement index at the end of fiscal 2022
Fiscal 2021 Director and Audit & Supervisory Board Member Remuneration
Segment
Directors
(Outside directors)
Audit & Supervisory Board members
(Outside Audit & Supervisory Board members)
Total
Number of
persons eligible
Total amount of
remuneration, etc.
(¥ millions)
Total amount by type (remuneration, etc.) (¥ millions)
Basic remuneration
Bonuses
9
(3)
6
(3)
15
283
(41)
107
(54)
390
187
(41)
107
(54)
294
–
(–)
–
(–)
–
Stock-based
compensation
95
(–)
–
(–)
95
Notes:
1. The table above includes one outside director and one outside Audit & Supervisory Board member who resigned as of the end of the 76th Ordinary General Meeting of Shareholders, held
June 29, 2021.
2. One internal director who also serves as a director of ALL NIPPON AIRWAYS CO., LTD. is not included in the table above because he is fully compensated by the company.
3. The amount of stock-based compensation for fiscal 2021 is an estimate, as the evaluation period is the three-year period from fiscal 2020 to fiscal 2022.
4. The amounts listed above are rounded down to the nearest million yen.
Basic remuneration for directors and members of the Audit & Supervisory Board in fiscal 2021 has continued to be reduced according to
position and in response to deteriorating business performance. Performance-linked bonuses have not been paid.
91
Foundations for Sustainable Corporate Value Enhancement
Trust Building with Stakeholders
The ANA Group regularly engages in dialogue with experts on ESG issues to understand social trends in a timely manner and
make flexible management decisions. We are enhancing the effectiveness of our activities by incorporating the latest informa-
tion and findings from these discussions into our strategies. In addition, we are holding a variety of internal discussions to have
each employee understand the importance of promoting ESG management and put it into practice in their daily work. These
discussions were held online in fiscal 2021 as well. However, a greater number of employees were able to participate, and we
were able to deepen mutual understanding. Our internal and external connections with stakeholders such as these helped
greatly to build trusted relationships throughout the ANA Group.
External Dialogue
The following titles of our experts are as they were at the time of discussion.
Dialogue with Experts on the Environment (December 2021)
Participating Experts
YAMAGISHI Naoyuki
Director, Climate & Energy and
Oceans & Fisheries, WWF Japan
HIBI Yasushi
Vice President, Conservation International
Topic
Progress of Initiatives for the ANA Group’s Environmental Targets
Q What are your thoughts on the ANA Group’s environmental targets and
their current initiatives?
• It is important to set targets and disclose information for both international reduction targets, such as SBT*1, and the
introduction of renewable energy.
• In addition to issues such as the stable supply of Sustainable Aviation Fuel (SAF), in regard to the provision of sustainable
foodstuffs for in-flight meals (certified foodstuffs, etc.), it is expected that the ANA Group will step forward and demon-
strate leadership by involving other companies in the industry and suppliers, etc.
• The external evaluation of the ANA Group’s environmental initiatives as a whole will greatly change by its initiatives and
achievements regarding this 1%, by promoting energy conservation in its own facilities and vehicles, introducing renew-
able energy, and transitioning to EVs and FCVs.
*1 Science Based Targets (SBT): Reduction targets in line with what the latest climate science says is necessary to limit global
warming to well below 2°C above pre-industrial levels.
Q What are your thoughts on climate change and its relationship with
biodiversity?
• Biodiversity conservation refers to initiatives to protect nature. This includes everything ranging from ensuring the sustain-
ability of foodstuffs used in in-flight meals to deforestation and plastics as marine pollution. SAF itself is also a field
dependent on the natural environment. It is important to start with identifying, analyzing, and prioritizing what business is
dependent on and what business is impacting in regard to the natural environment and resources.
• From here on out, it will be important to address movements such as environmental due diligence and zero deforestation.
Dialogue with Overseas ESG Investors (December 2021)
Please visit our corporate website for more:
https://www.ana.co.jp/group/en/csr/communications/
The following titles of our experts are as they were at the time of discussion.
Participating Experts
First Discussion:
World Benchmarking Alliance
Camille Le Pors
World Benchmarking Alliance
Lead, Corporate Human Rights Benchmark
Charlotte Hugman
World Benchmarking Alliance
Lead, Corporate Human Rights Benchmark
Second Discussion:
Hermes EOS
SUZUKI Sachi
Associate Director – Engagement
Topic
Progress of ESG Management in the ANA Group
First Discussion
Q What are your thoughts on identifying issues to be addressed?
• Through an impact assessment, first identify the impact of the company and significant human rights issues, and then
confirm the environment surrounding the rights holders. It is important to prioritize the issues identified through dialogue
with rights holders.
• In assessing the impact of climate change on people, it is necessary to consider the direct impacts and the indirect
impacts separately. When a company cannot resolve the indirect impacts on its own, more urgent actions will be
needed hereafter.
Q What are the key points on tackling information disclosure
based on TCFD?
• In order to come closer to successfully achieving the 1.5-degree scenario, it is important to quantitatively and qualitatively
scrutinize the effectiveness and feasibility of what can be done and to what extent.
• From the viewpoint of accountability, it is important to disclose specific plans, such as business and management
systems, and CO2 reduction, as information disclosed deepens the stakeholders understanding of the company.
Second Discussion
Q What do you think about our initiatives toward becoming
carbon neutral?
• It is great that the ANA Group is switching to higher CO2 emission reduction targets and cooperating with other industries
to develop SAF in order to work toward carbon neutrality. Even if investment is difficult at present, it is effective to partici-
pate in the R&D to increase the total supply. Additionally, it is necessary to pressure and lobby the government.
Q What do you think about our initiatives regarding diversity?
• With regard to diversity, it is important to increase the proportion of women in voting positions such as directors. On the
other hand, is also a problem to focus only on the proportion of female directors while the proportion of female executive
officers and management-level employees is low. We expect to see improvements toward the current goal.
Dialogue with Experts on Business and Human Rights (October 2021)
Internal Dialogue
Participating Experts
Pauliina Murphy
World Benchmarking Alliance*2
Engagement Director
Neill Wilkins
Institute for Human Rights and Business*3
Camille Le Pors
World Benchmarking Alliance
Lead, Corporate Human Rights Benchmark
*2 World Benchmarking Alliance: An index initiative
established by the United Nations Foundation,
Aviva (a British insurance company), and other
organizations. This organization develops
benchmark indicators to evaluate company
contribution levels to a sustainable society.
*3 Institute for Human Rights and Business: An
international think tank that works in the field of
business and human rights and leads efforts in
this area. Established in 2009.
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Topic
Promotion of Initiatives Relating to the ANA Group’s Business and
Human Rights
Q How can we enhance the effectiveness of the grievance mechanism?
• Regarding the grievance mechanism*4, one of the disadvantages of a system that receives reports from individuals is that
the companies become passive. It is important for the ANA Group to continue to approach the workers in the supply
chain, and talk with those who are actually being affected, to enhance trust.
*4 Grievance mechanism: A mechanism that enables the prevention and mitigation of negative impacts on the company throughout
the value chain, including suppliers, as well as redress for victims of the negative impact that has occurred.
Q How can we effectively address human rights issues in the
global supply chain?
• The company will be able to fulfill bigger roles and have a bigger impact through collaborations. Issues surrounding
human rights violations inflicted by other countries and problems surrounding technical intern trainees living in Japan are
not issues to be handled single-handedly. As such, it is expected that your influence will expand through collaborations
with other companies and organizations.
Q What are things to watch out for regarding Just Transition*5?
• Even in Just Transition, it is important to consider the impact on human rights. Considering climate change and human
rights together is very complex, but it is an issue for the ANA Group to address, and it is necessary to consider how
climate change affects working conditions and the working environment.
*5 Just Transition: A movement that aims to support those facing economic disadvantages, in addition to ensuring benefits are
widely distributed, through the transition to a green economy.
Internal Discussions to Promote ESG Management Awareness
SDGs Seminar
ESG TOP Discussions with Employees
Seminars are available to all group employees in an online
ANA Group officers ran a TOP discussion on the promotion
format. They are a place to share information on the SDGs,
of ESG management. After a panel discussion on the latest
and we are learning to think about how we can contribute
global trends and the status of initiatives in the depart-
to the SDGs through our work, and to practice and deepen
ments over which the officers have responsibility, employ-
initiatives familiar to us. We have discussions planned with
ees and officers participating online had the opportunity to
overseas areas (Europe and the U.S.) that tie into creating
exchange opinions and deepen their understanding of ESG
awareness throughout the group.
management.
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Foundations for Sustainable Corporate Value Enhancement Trust Building with Stakeholders
Internal Dialogue
Outside Director Town Meeting Initiatives
Topics for Fiscal 2021:
Challenges and future direction regarding human resources that will lead the group back to
a growth trajectory
Since fiscal 2018, the group has been providing opportunities for town meetings in which outside directors can engage in direct dialogue with
managers across various ANA Group departments. The purpose of these meetings is to gain a deeper understanding of the group’s business
and corporate culture, and to assist in the future management of the board of directors. The Maintenance Center and each group maintenance
company participated in fiscal 2018, the Flight Operations Center in fiscal 2019, and the CX Management Office in fiscal 2020.
The unprecedented crisis we experienced due to the COVID-19 pandemic has once again confirmed that the greatest asset of the Group is
its human resources. In order to achieve renewed growth in the post-COVID-19 world, the Human Resources Strategy Department, which is in
charge of hiring, training, and establishing human resource systems, held a dialogue with outside directors on issues and future directions
regarding the group’s human resources, which will be the driving force for achieving renewed growth.
The necessity of autonomous career enrichment, which is a prerequisite of the discussion
• The results of the ANA’s Way Survey, an internal awareness survey, show a high correlation between career fulfillment and the engage-
ment in one’s work that arises from a sense of satisfaction and achievement.
• In accordance with the idea that each individual should carve out their own career path based on their own ambitions, the company will
offer support for individual growth while expanding opportunities for new challenges. At the same time, employees are encouraged to
enhance autonomous career development through specific dialogues between supervisors and subordinates that utilize job descriptions.
Topic
1
Enhancement of Autonomous Career Development that Respects
Individual Motivations and Skills
Q What are the challenges to enhancing autonomous career development?
Is there a mismatch between the person’s ambitions and
staffing needs?
• Career paths are very important because they act as an incentive for one’s
future. However, if we only place importance on the ambitions of the individual,
human resources will be concentrated in the most popular departments and
career paths, resulting in a considerable degree of mismatch.
• A concentration of personnel in the most popular departments will result in
a shortage of specialists in flight operations, maintenance, engineering, etc.
Considering the overall balance of the company and its profits, it may be
necessary to consider a system in which compensation increases as such
specialized skills and expertise are acquired.
Assessment of work aptitude
• Sometimes a person finds that they are not suited for the job they want after
they actually tried it. In determining suitability, the advice of a supervisor and
certain guidelines are necessary.
• While it is important to find interesting work, it is more important for
supervisors to properly evaluate the strengths of their subordinates and
assign them suitable work while improving their motivation through positive
encouragement.
• It is a standard practice to rotate personnel so that they can experience
various departments and determine their own aptitudes. However,
individuals who can thoroughly perform in one department will also
demonstrate their abilities when performing other duties, so it may not
be necessary to transfer them. Honing one’s expertise and developing
standards by which to evaluate yourself is important.
Toward a personnel system that emphasizes individual
motivation and strengths
• Although mismatches between requests and assignments are likely to occur,
the highest priority will first be placed on the individual’s motivation and
strengths. Furthermore, these discrepancies can likely be resolved to a
certain extent by separating the career tracks for airport / operations and
marketing departments, etc., at the recruitment stage.
• In many Group companies, the company’s business areas were fixed and
the range of careers was limited. In addition to the expansion of the Group
Human Resources Recruitment Program, an intra-Group transfer recruit-
ment system will be introduced. We expect that these measures will enable
employees to develop a variety of careers within the Group, thereby
strengthening engagement.
Q We expanded secondment outside the group as part of the employment measures to cope with the
COVID-19 crisis. What do we think about this system?
It is an effective way to utilize new discoveries in one’s career
without being restricted by one’s past work experience.
• Currently, 1,580 employees (as of December 2021), mainly frontline
employees, are on secondment outside the group. In addition to hospitality,
we hear that they are active in human resources development, public
relations, sales support, and general affairs. We would like them to bring new
insights and culture from outside the company back to the ANA Group in
order to create new value.
• Experiencing the corporate culture of a completely different company
through a secondment outside the group is very beneficial in helping one
notice the strengths and shortcomings of ANA. After the COVID-19
pandemic, it may be beneficial to continue the program for the benefit of
human resources development.
• There are relatively few opportunities for cabin attendants, airport staffs, etc.,
to perform different duties, and these external assignments present new
career opportunities. Opportunities for external secondments have led to
personal growth, such as one case in which an employee returned to ANA
to take on generalist position. We are considering continuing this system in
the future.
Town Meeting (December 2021)
Topic
2
Diversity in Human Resources
Q What are our thoughts on securing and
developing human resources from diverse
backgrounds, etc.?
Needs for diversity among our human resources
• We live in an age in which we do not know who will be able to demonstrate
their strengths in which situations. We should recognize each person’s
strengths as a portfolio and change our approach to selecting appropriate
leaders according to the abilities needed at any given time. That is what it
means to make the most of diversity.
• While it is important to hire young people with expertise in IT, data science,
etc., there is a sense that there is a shortage of personnel that can be
targeted through their career paths. It may be necessary to hire outside
experts.
Expansion of opportunities for human resources to play an
active role
• As for seniors, some of them do not decline after the age of 60. On the
contrary, some of them broaden their vision. If they are truly capable, they
should be able to remain active regardless of their age. Not utilizing the
elderly is a great loss for Japan as a whole.
• We think that broadening the scope of work, by having overseas staff
concurrently perform head office duties, for example, will increase motiva-
tion. Having overseas staff is a great asset for globalization. It might be a
good idea to energize our Japanese staff by having overseas staff remotely
participate in various meetings and events.
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Foundations for Sustainable Corporate Value Enhancement Foundations for Sustainable Corporate Value Enhancement
Message from the
Independent Outside Directors
Reassessing the meaning of social and transportation
infrastructure in building an organization capable of
overcoming difficulties and sharing a sense of mission
YAMAMOTO Ado
Independent Outside Director
As an emergency measure to push through the COVID-19
gradually, and it is important to meet employee expectations
pandemic, the ANA Group was quick to take action, including
as performance recovers, which includes restoring
the early retirement of wide-body aircraft and securing cash
bonus levels.
on hand. Despite the tough business environment throughout
President Shibata began serving in April. One important role
fiscal 2021, I was gratified to see groupwide efforts bearing
of the president is to speak cheerfully, openly, and in his own
fruit, as the group returned to profitability in the third quarter,
words about overcoming a challenging business environment
supported by flexible adjustments of capacity and through
and charting a course toward growth under the group vision.
detailed yield management.
To date, President Shibata has held many management-led
The impact of the COVID-19 pandemic has been long and
town meetings, visiting with all ANA Group employees. It will
painful. But the main key to upholding and enhancing
be important to continue to be proactive in creating these
employee motivation will be to return to the basics by reas-
opportunities, to engage in meaningful dialogue with stake-
sessing the purpose of the group and its contribution to
holders, including employees, and to reaffirm the strength of
society as air transportation. In March 2022, the Tohoku
the group. This strength has overcome many crises in the
Shinkansen bullet train was suspended for a time after an
past. The group must also recognize the spirit behind the
earthquake off the coast of Fukushima Prefecture. The ANA
phrase, Hardship Now, Yet Hope for the Future, as each indi-
Group decided immediately to put extra flights into service,
vidual fulfills their roles in embodying this motto. One of the
fulfilling its social mission as a public transportation provider.
Three Pillars of Business Structure Reform is to create new
This is just one representative example, but when every
profit-earning opportunities beyond the airline business. In the
employee is aware of their responsibility as transportation
process of taking on the challenges of entering brand-new
infrastructure, and realizes their role in supporting the transfer
fields, we sometimes find a clash of opinions. I expect man-
of people and goods, this attitude will naturally add to
agement will respect these diverse values and make decisions
momentum and encourage employees to overcome
resolutely, implementing initiatives decisively to transform
difficulties.
the organization into a strong, resilient airline group.
Of course, we must not forget compensation is an
extremely important part of employee motivation. The group
ended monthly wage reductions at the end of fiscal 2021, and
has set targets to phase out other measures in place to
address COVID-19. I think employee motivation is increasing
Even as the impact of the COVID-19 pandemic continued throughout fiscal 2021,
the ANA Group implemented measures to return to growth in the post-COVID-19
world based on the Three Pillars defined under Business Structure Reform.
As the group enters fiscal 2022, passenger demand is beginning to return. We
asked outside directors YAMAMOTO Ado, KOBAYASHI Izumi, and KATSU Eijiro
for their assessment of ANA Group efforts to recover business performance,
future challenges heading to a post-COVID-19 world, and their expectations of
President & Chief Executive Officer SHIBATA Koji.
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Foundations for Sustainable Corporate Value Enhancement Foundations for Sustainable Corporate Value Enhancement
Message from the
Independent Outside Directors
Sustainable value creation through new ideas
generated by diverse human resources and
flexible organizational development
KOBAYASHI Izumi
Independent Outside Director
COVID-19 has reminded many companies of the importance
convenience in the products and services they provided.
of risk management. We have had many more opportunities to
I think in the future, we may have to accept things that are not
discuss risk at board meetings over the past year. No matter
necessarily convenient, but that address measures toward
how carefully measures are taken, the unexpected can
sustainable societies, and execute these measures with
happen. And it is impossible to predict all risks comprehen-
conviction.
sively. A strong business portfolio is important to ensure over-
To create a flexible organization that accepts diverse ideas,
all balance and avoid outsized harm in the event of a single
it will be crucial to pursue diversity, equity, and inclusion (DEI),
risk. Resilience, or the ability to recover when the unexpected
which the group views as a pillar of our corporate strategy.
happens, is also important. To harden the resilience of an
The essence of a human resources strategy is to consider
entire organization requires employees trained to make the
how diverse human resources lead to increased corporate
best decisions in their respective positions under any circum-
value. Simply achieving numerical targets is meaningless.
stances. Employees, including those on the front lines, must
Certain of our employees will be active in management in the
work without being constrained by manuals or rules, but
future. Others will grow as professionals in their fields. I believe
rather, encouraged to think about the essence of matters on a
creating an environment in which each type of individual can
regular basis.
utilize their strengths within the organization, enjoy their work,
One of the major risks facing society today is environmental
grow personally, and realize great value through their work
risk. The ANA Group understands its responsibility toward
should be the aim of our human capital strategy. If everyone
achieving sustainable societies, focusing particularly on decar-
looks and acts in the same direction, as is the case in many
bonization. While the group cannot be a sole actor in all mea-
Japanese companies, new ideas will not emerge in an era of
sures to reduce CO2 emissions, and ANA relies heavily on
change. It is important to have a diverse group of people who
external technological developments, it is important to have a
leverage their strengths to create new things while sharing
proactive attitude in looking for and implementing what can be
different opinions. This leads to increased corporate value.
done on our own. ESG management requires a flexible organi-
The ANA Group is fortunate to have a diverse range of human
zation in which each employee is aware of ESG, thinks for
resources. I believe that our future challenge will be to maxi-
themselves and proposes changes as they go about their
mize and make the best use of the abilities of each employee.
work, and accepts new ideas. In the past, companies pursued
Combining the efforts of every employee to improve
resilience, leveraging the strengths developed in the
Air Transportation Business
KATSU Eijiro
Independent Outside Director
Fiscal 2021 was the second year of the COVID-19 pan-
Passenger demand has begun to recover more recently,
demic, and I have had high regard for the group’s efforts,
and it is important to develop services while accurately
including its pursuit of Business Structure Reform. I am sure
identifying how customer needs are changing under
employees were burdened by the unprecedented measures
COVID-19. ANA is moving forward in the development of
taken, including the drastic reduction of wages and
ANA Smart Travel utilizing the power of digital technology
bonuses, even if only for a limited period of time. Clear
such as online check-in processes. I believe there are two
messaging from former-president Katanozaka reminded
purposes of digitalization. The first is to pursue efficiency by
employees to work with an increased sense of urgency and
replacing routine human tasks with digital processes, which
remain hopeful. I believe this ongoing encouragement
in turn controls costs. The second is to utilize the enormous
brought the group together as one to weather the pandemic.
volumes of data obtained through digitalization and lever-
The slump in passenger demand reduced opportunities for
age this data in new businesses. This is a very important
many employees to be active in their original assignments.
issue for the group, which aims to improve resilience in the
Even so, it was fortunate that these employees found a
medium term.
sense of fulfillment through secondments to various outside
New businesses does not mean launching a new venture
companies and organizations based on the promise to
in the dark. Fields too far removed from the airline industry
preserve their employment. Having entered fiscal 2022,
entail great risk. The ANA Group can reduce risk by clearly
President Shibata was very open-minded, and immediately
defining the reasons why it is involved in a business and how
after assuming office, met with a wide range of group
the group can utilize its strengths. From the perspective of
employees in a short period of time. He communicated that
diversifying management risk, the ANA Group must expand
management is moving to a new stage, demonstrating his
non-air businesses over the medium term. In this process,
strong determination to achieve profitability without fail.
however, it is important to create business models that are
I believe this attitude has contributed to an improved level
unique and that also leverage the knowledge, expertise, and
of employee engagement.
data assets of the ANA Group, which have been accumulated
over its years in the airline business.
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Foundations for Sustainable Corporate Value Enhancement Responsible Dialogue with Stakeholders
The ANA Group conducts business activities through our relationships with stakeholders.
We engage in ongoing dialogue with stakeholders to build trust and offer peace of mind.
As we do so, we increase the effectiveness of our strategies by incorporating the
opinions and requests of stakeholders into our businesses.
Major Dialogues during Fiscal 2021
The 77th Ordinary General Meeting of Shareholders
(for institutional investors, analysts)
Financial results presentations
No. of attendees 664 Voting rights exercise ratio 58.5%
4 times (teleconferences)
Dialogue with
Shareholders and
Investors
Dialogue with institutional investors / analysts
202 times (117 in Japan / 85 overseas)
(199 teleconferences / online meetings, 3 in-person meetings)
ANA Group officer town meetings
No. of meetings 2,694
Participants total: Approx. 33,500 people
* Numbers include online interactions
Communication with
Our Employees
External Recognition
Inclusion in ESG Indexes, etc.
• Dow Jones Sustainability Index
• S&P Global Sustainability Awards 2022
- World Index
- Asia Pacific Index
• FTSE4Good Index
- Gold Class
• FTSEBlossom Japan Index
• EcoVadis Sustainability Rating
• MSCI Japan Empowering
- BRONZE
Women Index (WIN)
• CDP Climate Change A-
Quality
• SKYTRAX COVID-19 Airline Safety Rating
• CIRIUM
(ANA Group, 2021)
- Awarded first 5-STAR status in Asia
• SKYTRAX World Airline Awards
(ANA Group, 2021)
- World’s Best Airline Cabin Cleanliness
- COVID-19 Excellence Award
- World’s Best Airport Services
- Best First Class Lounge in Asia
Management Strategy
(ANA Group, 2021)
Worldwide Major Airlines
- Network Category: No. 1
- Mainline Category: No. 1
Asia-Pacific Major Airlines
- Network Category: No. 1
- Mainline Category: No. 1
Training sessions for promotors of
ESG and SDGs (online)
SDGs seminar (online)
No. of sessions 2 Participants 110 people
No. of meetings 2 Participants 120 people
• Ministry of Economy, Trade and Industry
• Ministry of Health, Labour and Welfare
- DX Certification
Company Promoting Women’s Participation and Advancement in the
• Tokyo Stock Exchange / Ministry of Economy, Trade and Industry
Workplace
- DX Stock 2022
“Eruboshi” Certification (ANA TELEMART CO., LTD.)
• Japan Institute of Information Technology (ANA, ANA Systems Co., Ltd.)
• Nippon Kenko Kaigi, Ministry of Economy, Trade and Industry
- Best Customer Support of The Year 2021: Special Award (DX
- Certified Health and Productivity Management Organization
Dialogue with
Experts
Environment
Human rights
ESG investors
1 time
1 time
2 times (online meetings)
Dialogue with
Business Partners
Procurement policy briefings
54 times (including 12 overseas suppliers)
Dialogue with
Communities
Participation in community volunteer activities
ANA NARITA AIRPORT SERVICES Co.,Ltd.
No. of activities 22 Group employee participants: Approx.150 people
Volunteer cleanup, aviation classes,
crime prevention, etc.
Promotion)
• IATA (ANA)
Diversity & Inclusion Award 2021
- Diversity & Inclusion Team
• Job Rainbow (ANA)
D&I AWARD
- BEST Workplace2021
• work with Pride (ANA)
- PRIDE Index 2020 Gold Award
• Ministry of Health, Labour and Welfare
Recognition Program 2022 –White 500–
(ANA HOLDINGS INC., ANA AIRPORT SERVICES Co., Ltd., ANA
OSAKA AIRPORT CO., LTD., ANA CHUBU AIRPORT CO., LTD., ANA
KANSAI AIRPORT CO., LTD., ANA OKINAWA AIRPORT CO., LTD., ANA
TELEMART CO., LTD., ANA Wing Fellows Vie Oji Co., Ltd., ANA
CHITOSE AIRPORT CO., LTD., ANA FUKUOKA AIRPORT CO., LTD.,
ANA WINGS CO., LTD., ALL NIPPON AIRWAYS TRADING Co., Ltd.)
- Certified Health and Productivity Management Organization
Recognition Program 2022
(ANA Systems Co., Ltd., ANA AIRPORT SERVICES Co., Ltd., ANA
“Platinum Kurumin” Certified by the Ministry in Recognition of Providing
Business Solution Co., Ltd.)
Superior Childcare Support
(ANA, ANA AIRPORT SERVICES Co., Ltd.)
“Kurumin” Certified by the Ministry
(ANA CHUBU AIRPORT CO., LTD., ANA Akindo Co., Ltd., ANA
TELEMART CO., LTD., ANA Systems Co., Ltd.)
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* THE INCLUSION OF ANA HOLDINGS INC. IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A
SPONSORSHIP, ENDORSEMENT OR PROMOTION OF ANA HOLDINGS INC. BY MSCI OR ANY OF ITS AFFILIATES. THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI.
MSCI AND THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES.
101
Foundations for Sustainable Corporate Value Enhancement
Consolidated 11-Year Summary
ANA HOLDINGS INC. and its consolidated subsidiaries (Note 1)
(FY) (Note 2)
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
Yen (Millions)
For the Year
Operating revenues (Note 4)
Operating expenses
Operating (loss) income
(Loss) income before income taxes
Net (loss) income attributable to owners of the parent
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Free cash flow
Substantial free cash flow (Note 5)
Depreciation and amortization
EBITDA (Note 6)
Capital expenditures
At Year-End
Total assets
Interest-bearing debt
Shareholders’ equity (Note 7)
Per Share Data (Yen, U.S. dollars) (Note 8)
(Loss) earnings per share
Book value per share
Cash dividends
Average number of shares during the year (Thousand shares)
Management Indexes
Operating income margin (%)
Net income margin (%)
ROA (%) (Note 9)
ROE (%) (Note 10)
Shareholders’ equity ratio (%)
Debt/equity ratio (Times) (Note 11)
Asset turnover (Times) (Note 12)
Payout ratio (%)
Number of employees
Operating Data
International Passenger Operations
Passenger revenues
Available seat-km (Millions)
Revenue passenger-km (Millions)
Number of passengers (Thousands)
Load factor (%)
Unit revenues (¥)
Yield (¥)
Domestic Passenger Operations
Passenger revenues
Available seat-km (Millions)
Revenue passenger-km (Millions)
Number of passengers (Thousands)
Load factor (%)
Unit revenues (¥)
Yield (¥)
LCC Passenger Operations (Note 13)
Revenues
Available seat-km (Millions)
Revenue passenger-km (Millions)
Number of passengers (Thousands)
Load factor (%)
Unit revenues (¥)
Yield (¥)
International Cargo Operations
Cargo revenues
Cargo volume (Tons)
Domestic Cargo Operations
Cargo revenues
Cargo volume (Tons)
1,020,324
1,193,451
(173,127)
(175,374)
(143,628)
(76,413)
230,019
93,646
153,606
(111,948)
147,328
(25,799)
133,364
3,218,433
1,750,108
797,249
(305.37)
1,695.06
—
470,339
(17.0)
(14.1)
(5.3)
(15.9)
24.8
2.2
0.3
—
42,196
70,151
20,524
5,550
825
27.0
3.4
12.6
279,877
34,288
16,382
17,959
47.8
8.2
17.1
37,813
7,863
4,846
4,267
61.6
4.8
7.8
328,750
976,644
24,932
251,332
728,683
1,193,457
(464,774)
(545,372)
(404,624)
(270,441)
(595,759)
1,098,172
(866,200)
(373,464)
176,352
(288,422)
156,710
3,207,883
1,655,452
1,007,233
(1,082.04)
2,141.49
—
373,945
(63.8)
(55.5)
(16.0)
(39.1)
31.4
1.6
0.3
—
46,580
44,726
14,465
2,840
427
19.6
3.1
15.7
203,119
26,896
11,567
12,660
43.0
7.6
17.6
22,071
4,932
2,403
2,080
48.7
4.5
9.2
160,503
655,019
20,881
218,032
1,974,216
1,913,410
60,806
51,501
27,655
130,169
(230,218)
23,869
(100,049)
(79,149)
175,739
236,545
351,361
2,560,153
842,862
1,061,028
82.66
3,171.80
—
334,559
3.1
1.4
2.4
2.6
41.4
0.8
0.8
—
45,849
613,908
68,885
50,219
9,416
72.9
8.9
12.2
679,962
58,552
39,502
42,916
67.5
11.6
17.2
81,953
11,076
9,202
7,288
83.1
7.4
8.9
102,697
866,821
25,533
373,176
2,058,312
1,893,293
165,019
154,023
110,777
296,148
(308,671)
(46,480)
(12,523)
(18,028)
159,541
324,560
375,864
2,687,122
788,649
1,099,413
331.04
3,285.46
75.00
334,632
8.0
5.4
6.4
10.6
40.9
0.7
0.8
22.7
43,466
651,587
65,976
50,776
10,093
77.0
9.9
12.8
696,617
58,475
40,704
44,325
69.6
11.9
17.1
93,611
12,052
10,394
8,153
86.2
7.8
9.0
125,015
913,915
27,454
393,773
1,971,799
1,807,283
164,516
196,641
143,887
316,014
(324,494)
(29,989)
(8,480)
61,410
150,408
314,924
304,707
2,562,462
798,393
988,661
417.82
2,954.47
60.00
344,372
8.3
7.3
6.8
15.1
38.6
0.8
0.8
14.4
41,930
597,446
64,376
49,132
9,740
76.3
9.3
12.2
689,760
58,426
40,271
44,150
68.9
11.8
17.1
87,555
11,832
10,212
7,797
86.3
7.4
8.6
118,002
994,593
30,710
436,790
1,765,259
1,619,720
145,539
139,462
98,827
237,084
(194,651)
3,349
42,433
39,655
140,354
285,893
254,425
2,314,410
729,877
919,157
28.23
262.44
6.00
3,500,205
8.2
5.6
6.5
11.6
39.7
0.8
0.8
21.3
39,243
516,789
60,148
45,602
9,119
75.8
8.6
11.3
678,326
59,080
38,990
42,967
66.0
11.5
17.4
—
—
—
—
—
—
—
93,301
954,027
30,860
451,266
1,791,187
1,654,724
136,463
131,064
78,169
263,878
(74,443)
(133,257)
189,435
88,035
138,830
275,293
281,416
2,228,808
703,886
789,896
22.36
225.87
5.00
3,496,561
7.6
4.4
6.1
9.8
35.4
0.9
0.8
22.4
36,273
515,696
54,710
40,635
8,167
74.3
9.4
12.7
685,638
59,421
38,470
42,664
64.7
11.5
17.8
—
—
—
—
—
—
—
113,309
810,628
31,740
466,979
1,713,457
1,621,916
91,541
77,983
39,239
206,879
(210,749)
(30,424)
(3,870)
(22,350)
131,329
222,870
274,702
2,302,437
819,831
798,280
11.24
228.45
4.00
3,492,380
5.3
2.3
4.2
5.1
34.7
1.0
0.8
35.6
34,919
468,321
49,487
35,639
7,208
72.0
9.5
13.1
683,369
60,213
38,582
43,203
64.1
11.3
17.7
—
—
—
—
—
—
—
124,772
841,765
32,584
475,462
1,601,013
1,535,027
65,986
36,391
18,886
200,124
(64,915)
(85,569)
135,209
38,929
136,180
202,166
183,739
2,173,607
834,768
746,070
5.41
213.82
3.00
3,493,860
4.1
1.2
3.2
2.5
34.3
1.1
0.7
55.5
33,719
395,340
41,451
30,613
6,336
73.9
9.5
12.9
675,153
61,046
37,861
42,668
62.0
11.1
17.8
—
—
—
—
—
—
—
104,736
710,610
32,116
477,081
1,483,581
1,379,754
103,827
70,876
43,140
173,196
(333,744)
84,549
(160,548)
54,256
123,916
227,743
162,752
2,137,242
897,134
766,737
13.51
218.41
4.00
3,192,482
7.0
2.9
5.1
6.6
35.9
1.2
0.7
29.6
32,634
348,319
37,947
28,545
6,276
75.2
9.2
12.2
665,968
58,508
36,333
41,089
62.1
11.4
18.3
—
—
—
—
—
—
—
86,589
621,487
32,231
463,473
1,411,504
1,314,482
97,022
63,431
28,178
214,406
(166,323)
16,171
48,083
52,043
119,268
216,290
196,881
2,002,570
963,657
549,014
11.22
218.24
4.00
2,511,841
6.9
2.0
5.1
5.3
27.4
1.8
0.7
35.7
32,884
320,066
34,406
25,351
5,883
73.7
9.3
12.6
651,556
56,756
34,589
39,020
60.9
11.5
18.8
—
—
—
—
—
—
—
87,978
570,684
33,248
467,348
U.S. dollars
(Thousands)
(Note 3)
2021
8,336,661
9,751,213
(1,414,551)
(1,432,911)
(1,173,527)
(624,340)
1,879,393
765,144
1,255,053
(914,682)
1,203,758
(210,793)
1,089,664
26,296,535
14,299,436
6,514,004
(2.49)
13.84
—
573,175
2,286,763
308,954
2,686,085
203,709
Notes: 1. As of March 31, 2022, there were 55 consolidated subsidiaries and 14 equity-method subsidiaries and affiliates.
2. From April 1 to March 31 of the next year
3. U.S. dollar amounts in this report are translated, for convenience only, at the rate of ¥122.39 = US$1, the approximate exchange rate as of March 31, 2022.
4. Effective from the fiscal year ended March 2015, revenue of jet fuel which is resold to airlines outside the group is offset by its purchasing cost and the net amount is recorded in
operating revenues.
5. Substantial free cash flow after excluding payments into and proceeds from withdrawals of time deposits and payments for purchases and proceeds from redemptions of marketable
securities (time and negotiable deposits with maturities exceeding three months)
6. EBITDA = Operating income + Depreciation and amortization
7. Total shareholders’ equity = Shareholders’ equity + Accumulated other comprehensive income
102
8. The group conducted a 1-for-10 reverse stock split effective October 1, 2017. Calculations have been made assuming a reverse stock split at the beginning of the fiscal 2017.
9. ROA = (Operating income + Interest and dividend income) / Simple average of total assets
10. ROE = Net income attributable to owners of the parent / Simple average of shareholders’ equity
11. Debt/equity ratio = Interest-bearing debt / Shareholders’ equity
12. Asset turnover = Operating revenues / Simple average of total assets
13. Revenues of LCC Operations include ancillary income.
14. We applied the Accounting Standard for Revenue Recognition as of the beginning of fiscal 2021.
* Yen amounts are rounded down to the nearest million yen and percentages are rounded to the nearest one decimal place. U.S. dollar amounts are truncated.
103
Financial / Data Section
Management’s Discussion and Analysis
As of fiscal 2021 (April 1, 2021 to March 31, 2022) the group has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020).
Economic Conditions
General Economic Overview
During the fiscal year under review, the Japanese economy showed
signs of a gradual recovery in corporate production activities and
other areas with the gradual easing of the challenging conditions
caused by COVID-19.
Looking to the future, the economy is expected to pick up, sup-
ported by effects from various government policies amid further
normalization of economic and social activities and rigorous imple-
mentation of infection prevention measures. However, monetary
tightening is underway worldwide, and downside risks to the econ-
omy due to fluctuations in financial and capital markets, rising raw
material prices, supply-side constraints, and other factors require
close monitoring.
While it is assumed that the pandemic will continue to affect the
group’s performance, a gradual recovery is expected in air transport
traffic demand amid some movement toward easing restrictions on
travel and entry.
Fuel Price Trends
While energy demand grew alongside a recovery in the global
economy as it moved toward the post-COVID-19 era, oil-producing
countries, primarily OPEC Plus, showed reluctance to increase pro-
duction on a large scale. This raised concerns about strained supply
and demand, and Dubai crude oil prices continued to rise throughout
the fiscal year. In the third quarter, prices temporarily declined due to
the release of U.S. strategic oil reserves and concerns about an eco-
nomic slowdown caused by the spread of the Omicron variant.
However, toward the end of the fiscal year, market prices rose once
again due to increased supply concerns caused by the deteriorating
situation in Ukraine, resulting in an average price of $78.2 per barrel for
the fiscal year under review and $106.0 per barrel on March 31, 2022.
The market price of Singapore kerosene tracked the price of crude
oil. The average price for the fiscal year was $85.1 per barrel, ending
at $127.7 per barrel on March 31, 2022.
Foreign Exchange Market
The U.S. dollar-yen exchange rate for fiscal 2021 showed a continued
weakening of the yen throughout the fiscal year as the U.S. steadily
raised interest rates to normalize its monetary policy, while large-scale
monetary easing in Japan was maintained and the interest rate dif-
ferential between the U.S. and Japan widened.
The Japanese yen averaged ¥112.38 per U.S. dollar for fiscal
2021, ending the year at ¥121.70 per U.S. dollar on March 31, 2022.
Air Transport Traffic Trends
International Air Transport Association (IATA) member airlines reported
540 million passengers on scheduled international flights for in 2021
(14.4% increase year on year). Passengers on scheduled domestic
flights numbered 1.76 billion (33.0% increase). At the same time,
scheduled global air cargo volume increased 15.5%. (Source: IATA
Global Outlook for Air Transport, 2022)
In Japan, passengers on trunk routes* increased 47.0% year on
year to 22.06 million. The number of passengers on local routes*
increased 47.3% to 27.64 million. In total, passengers on scheduled
domestic flights increased 47.2% to 49.69 million. Cargo volume
increased 12.1% to 0.47 million tons. The number of passengers
carried by Japanese airlines on international flights increased 120.6%
to 1.76 million, while the volume of international cargo handled by
Japanese airlines increased 29.8% to 1.76 million tons. (Source:
Ministry of Land, Infrastructure, Transport and Tourism Air
Transportation Statistics)
* Trunk routes refer to routes connecting Sapporo (New Chitose), Tokyo (Haneda), Tokyo
(Narita), Osaka (Itami), Osaka (Kansai), Fukuoka, and Okinawa (Naha) airports with one
another. Local routes refer to all other routes.
Monthly Prices for Dubai Crude Oil and Singapore Kerosene
(U.S. dollars per barrel)
150
100
50
0
20/4
5
6
7
8
9
10
11
12
21/1
2
3
4
5
6
7
8
9
10
11
12
22/1
2
3
(Year/
Month)
Dubai Crude Oil
Singapore Kerosene
Source: Bloomberg
Monthly Yen-Dollar Exchange Rate
(Yen/U.S. dollars)
120
115
110
105
100
20/4
5
6
7
8
9
10
11
12
21/1
2
3
4
5
6
7
8
9
10
11
12
22/1
2
3
(Year/
Month)
Source: Bloomberg
Global Air Transportation Passenger Volume by Region
Performance for Fiscal 2021
Overview of the ANA Group
The ANA Group (“the group”), led by holding company ANA
HOLDINGS INC., consists of 134 subsidiaries (including ALL NIPPON
AIRWAYS CO., LTD.) and 41 affiliates. A total of 55 companies are
treated as consolidated subsidiaries, with another 14 treated as
equity-method subsidiaries and affiliates. Group employees num-
bered 42,196 individuals, a decrease of 4,384 compared to the
previous fiscal year-end.
Despite a still-challenging situation for the airline industry, demand
is on a recovery track, especially for domestic flights, and there are
signs of recovery in demand for international flights as entry restric-
tions are gradually eased.
So too did the group’s operating revenues increase over the
previous fiscal year, when impact was significant from the COVID-19
pandemic, due to a gradual recovery in the movement of people.
In terms of costs, while the scope of flight operations was greatly
expanded from the previous fiscal year, operating expenses were held
at the same level thanks to ongoing rigorous cost management.
However, due to the continuing impact of the pandemic, losses were
recorded at each profit stage.
In terms of financial position, in addition to recording a net loss,
retained earnings decreased due to the application of the Accounting
Standard for Revenue Recognition, etc. In addition, we raised ¥170.0
billion by issuing convertible bonds with stock acquisition rights and
straight bonds for future capital expenditures.
Consolidated Operating Revenues, Operating
Expenses, and Operating (Loss) Income
In fiscal 2021, consolidated operating revenues amounted to
¥1,020.3 billion, a ¥291.6 billion (40.0%) increase over the previous
fiscal year, when impact was significant from the COVID-19 pandemic.
This increase came as the company took full advantage of passenger
demand recovering in stages and steady cargo demand.
We succeeded in making cost reductions of approximately ¥325.0
billion (including subsidies for employment adjustment) through our
own efforts in rigorous cost management. However, operating loss
was ¥173.1 billion (versus an operating loss of ¥464.7 billion in the
previous fiscal year), mainly due to a delayed recovery in passenger
demand amid the COVID-19 pandemic.
Review by Segment
The Group operates four reportable segments: Air Transportation,
Airline Related, Travel Services, and Trade and Retail.
Segment Information
Operating Revenues
Operating (Loss) Income
EBITDA
(¥ Millions)
(Fiscal Year)
2021
2020
Change
2021
2020
Change
2021
2020
Change
Air Transportation
¥ 885,096
¥ 604,014
¥281,082
¥(162,932)
¥(447,894)
¥284,962
¥(22,379)
¥(278,942)
¥256,563
Airline Related
Travel Services
Trade and Retail
Subtotal
Others
206,806
222,139
(15,333)
46,282
81,694
45,050
79,958
1,232
1,736
(660)
(2,105)
549
3,691
(5,084)
(4,282)
(4,351)
2,979
4,831
4,390
(1,971)
1,642
8,764
(4,568)
(2,915)
(4,374)
2,597
4,557
1,219,878
951,161
268,717
(165,148)
(453,569)
288,421
(18,318)
(277,661)
259,343
38,130
36,643
1,487
1,388
(9,367)
(34)
(11,171)
1,422
1,804
1,886
(9,367)
410
(11,171)
1,476
1,804
RPK (Billions)
Adjustments
(237,684)
(259,121)
21,437
9,000
6,000
3,000
0
3,652
1,166
1,001
928
250
232
72
2015
2016
2017
2018
2019
2020
2021
3,000
2,000
1,000
0
(CY)
Total
(Left)
(Right)
Asia-Pacific
Latin America
Africa
Source: International Air Transport Association (IATA), 2022
North America
Europe
Middle East
Total (Consolidated) ¥1,020,324
¥ 728,683
¥291,641
¥(173,127)
¥(464,774)
¥291,647
¥(25,799)
¥(288,422)
¥262,623
Notes: 1. “Others” represents all operating segments that are not included in reportable segments, including facility management, business support, and other operations.
2. Adjustments of segment profit represent the elimination of intersegment transactions, group management expenses of ANA HOLDINGS INC., and other certain items.
3. Segment operating income is reconciled with operating income in the consolidated financial statements.
4. EBITDA = Operating income + Depreciation and amortization
Air Transportation Business
Air Transportation Business operating revenues amounted to ¥885.0
billion, a year-on-year increase of 46.5%. This was mainly due to
increased passenger demand and record-high cargo revenues as we
captured strong demand proactively, despite severe effects amid the
COVID-19 pandemic. Our losses were improved versus the previous
fiscal year due to steady implementation of Business Structure
Reform and reductions in fixed costs such as depreciation and amor-
tization, maintenance expenses, and personnel expenses. However,
operating loss amounted to ¥162.9 billion (versus an operating loss
of ¥447.8 billion in the previous fiscal year).
Due to the deteriorating situation in Ukraine, the Haneda–London
and Haneda–Paris routes were temporarily suspended from March
2022. However, the Haneda–Frankfurt and Narita–Brussels routes
continued operation, circumventing Russian airspace. On the other
hand, the impact of the situation on revenues was limited due to
expanding flight operations in the International Cargo Business on
U.S. routes, which have been performing well.
104
105
Financial / Data Section
Management’s Discussion and Analysis
Changes in Operating Income (Loss) (FY2021 vs FY2020)
(¥ Billions)
–447.8
Decrease in Expenses
–3.8
Increase in Operating Income
+284.9
Revenues from contracted
maintenance and handling,
Mileage and Card, etc.
Sales commissions and
promotion expenses,
in-flight services, ground services
ANA
Cargo & Mail
ANA
Other
Revenues
–11.7
LCC
+15.7
Sales-
Linked
–18.3
Fuel &
Fuel Tax
+84.2
Depreciation and amortization,
maintenance, personnel,
contracts, aircraft leasing
fee excluding code-share, others
–162.9
+6.3
–76.1
+174.9
ANA
Domestic
Passenger
+76.7
Increase in
Revenues
+281.0
ANA
International
Passenger
+25.4
FY2020
Operating Income
(¥ Billions)
Operating revenues
Operating expenses
Operating (loss) income
2021
885.0
1,048.0
(162.9)
2020
604.0
1,051.9
(447.8)
Change
YoY (%)
+281.0
–3.8
+284.9
+46.5
–0.4
—
Operation-
Linked
Other
Expenses
(Including impact of
cost reduction measures)
Landing and
navigation fees,
code-share costs,
travel expenses for crew
FY2021
Operating Income
Results by business are as follows.
ANA International Passenger Business
Passenger demand remained significantly sluggish due to the resur-
gent spread of COVID-19 and the outbreak of mutated strains.
However, both passenger numbers and revenues outperformed the
previous fiscal year amid newly recovering business demand, mainly
for overseas assignments and citizens returning home, and newly
recovering demand for connecting flights from Asia to North America
following the relaxation of entry restrictions in various countries.
In order to maximize revenues per flight, including cargo, we made
efforts to dynamically adjust our route network and operate extra
flights, such as transferring some North American routes to go to and
from Narita Airport, rather than Haneda, starting in July.
(Fiscal Year)
ASK (Millions)
RPK (Millions)
Number of passengers (Thousands)
Load factor (%)
Passenger revenues (¥ Billions)
Unit revenues (¥)
Yield (¥)
Unit price (¥)
* Difference
2021
2020
YoY (%)
20,524
14,465
5,550
2,840
825
27.0
70.1
3.4
12.6
427
19.6
44.7
3.1
15.7
84,978
104,648
+41.9
+95.4
+93.2
+7.4*
+56.8
+10.5
–19.7
–18.8
In terms of sales and services, we launched Face Express, a new
boarding procedure using facial recognition technology, on some
routes to and from Narita Airport in July. In addition, we have endeav-
ored to improve convenience by introducing ANA Travel Ready, a
service that allows passengers to pre-register and confirm their travel
documents online for some routes departing from Japan from
February 2022 to ensure smooth boarding.
As a result, available seat-kilometers (ASK) and revenue passen-
ger-kilometers (RPK) increased 41.9% and 95.4%, respectively, while
load factor increased 7.4 points to 27.0%. Passenger numbers
increased 93.2% to 0.82 million, while unit price decreased 18.8% to
¥84,978. Passenger revenues increased 56.8% to ¥70.1 billion.
ANA International Passenger Business Results
(¥ Billions)
750
500
250
0
18/4
2017
2018
2019
2020
2021
(Left)
Passenger Revenues
(Right)
ASK
RPK
Yield
150
100
50
0
(FY)
* Figures for ASK, RPK, and Yield are indexed using the figures for fiscal 2017 as 100.
ANA Domestic Passenger Business
Although demand was sluggish in the first half of the fiscal year due
to repeated declarations of a state of emergency, demand began to
recover in the third quarter after the declarations were lifted, and
passenger numbers and revenues reached their highest levels on a
quarterly basis amid the COVID-19 pandemic. Demand declined
again with the spread of mutant strains in the fourth quarter and
priority preventative measures applied to prevent the spread of
COVID-19. However, demand began to recover strongly from mid-
March 2022, when it was clear that the measures were to be lifted.
As a result, both passenger numbers and revenues for the full year
outperformed levels from the previous fiscal year, when impact was
significant from the COVID-19 pandemic.
In the route network, we adjusted the scale of flight operations in
line with demand trends, and especially since October, we have
proactively captured the gradual recovery in demand by dynamically
operating extra flights, including during weekends, the year-end and
New Year holidays, spring break periods, etc.
In terms of sales and services, we introduced new Boeing 787-9
aircraft in December to improve comfort. This aircraft features new
specifications for domestic flights, with all its seats upgraded to new
models equipped with personal monitors. In addition, we strove to
further stimulate demand by carrying out a boarding campaign and
providing in-flight services tied to the animated TV series Demon
Slayer: Kimetsu no Yaiba and by launching two specially designed
aircraft featuring characters from the show.
As a result, ASK and RPK increased 27.5% and 41.6%, respec-
tively, while load factor increased 4.8 points to 47.8%. Passenger
numbers increased 41.9% to 17.95 million, while unit price
decreased 2.9% to ¥15,584. Passenger revenues increased 37.8%
to ¥279.8 billion.
ANA Domestic Passenger Business Results
(¥ Billions)
(Fiscal Year)
ASK (Millions)
RPK (Millions)
2021
2020
YoY (%)
34,288
26,896
+27.5
16,382
11,567
+41.6
Number of passengers (Thousands)
17,959
12,660
+41.9
Load factor (%)
Passenger revenues (¥ Billions)
Unit revenues (¥)
Yield (¥)
Unit price (¥)
* Difference
47.8
279.8
8.2
17.1
43.0
+4.8*
203.1
+37.8
7.6
17.6
+8.1
–2.7
–2.9
15,584
16,043
ANA Cargo and Mail Business
The International Cargo Business saw continued strong air cargo
demand, especially for commercial products such as automobile-
related components, semiconductors, and pharmaceuticals, mainly
due to more active cargo demand thanks to economic recovery and
a shift to air transportation in response to congestion in marine trans-
portation. Against the backdrop of this strong demand, we launched
Boeing 777F aircraft on the Narita–Los Angeles route in April, the
Narita–Hong Kong and Narita–Taipei routes in October, and the
Narita–Qingdao route in November. In addition to maximizing the use
of cargo freighters, we actively captured cargo demand by dynami-
cally operating cargo-only flights using passenger aircraft to expand
capacity.
As a result, international cargo volume for fiscal 2021 amounted to
0.976 million tons (up 49.1% year on year), while cargo revenues
amounted to a record-high ¥328.7 billion (up 104.8%). Available
ton-kilometers (ATK) increased 51.8% year on year and revenue
ton-kilometers (RTK) increased 59.5%.
750
500
250
0
2017
2018
2019
2020
2021
(Left)
Passenger Revenues
(Right)
ASK
RPK
Yield
150
100
50
0
(FY)
* Figures for ASK, RPK, and Yield are indexed using the figures for fiscal 2017 as 100.
The Domestic Cargo Business dynamically implemented measures
to increase revenues, including operating extra flights, mainly on
trunk routes like Haneda–Sapporo and Haneda–Okinawa and utiliz-
ing wider-body aircraft, given strong growth in parcel transportation
due to increased demand for e-commerce. As a result, ATK for the
fiscal year rose 35.2% year on year while RTK increased 17.3%.
Cargo volume increased 15.3% to 0.251 million tons, and cargo
revenues increased 19.4% to ¥24.9 billion.
Operating revenues for international and domestic mail business
amounted to ¥5.4 billion and to ¥2.6 billion, year-on-year increases of
84.8% and 4.5%, respectively.
As a result, the ANA Cargo and Mail Business recorded fiscal 2021
operating revenues of ¥361.7 billion, a year-on-year increase of 93.6%.
106
107
Financial / Data Section
Management’s Discussion and Analysis
ANA Cargo and Mail Business Results
International Cargo Business Results
(Fiscal Year)
2021
2020
YoY (%)
Cargo and mail services revenues (¥ Billions)
361.7
186.8
+93.6
International
cargo
ATK (Millions)
RTK (Millions)
6,966
4,588
+51.8
5,186
3,251
+59.5
Cargo volume (Thousand tons)
976
655
+49.1
Cargo revenues (¥ Billions)
328.7
160.5
+104.8
245
+37.4
18/4
Unit price (¥/kg)
Mail revenues (¥ Billions)
Domestic
cargo
ATK (Millions)
RTK (Millions)
Cargo volume (Thousand tons)
337
5.4
957
281
251
2.9
708
240
218
Cargo revenues (¥ Billions)
24.9
20.8
Unit price (¥/kg)
Mail revenues (¥ Billions)
99
2.6
96
2.5
+84.8
+35.2
+17.3
+15.3
+19.4
+3.6
+4.5
LCC (Peach Aviation)
On domestic routes, we launched the Kansai–Memanbetsu route in
July and the Fukuoka–Ishigaki route in October, while assessing the
recovery in demand following the lifting of emergency declarations
and priority measures to prevent the spread of COVID-19. In August,
we began code-sharing and mileage partnerships with ANA on Narita
and Chubu routes, expanding options for ANA brand customers
and improving convenience. In addition, from the winter schedule
onward, we expanded our network by transferring some routes from
ANA to Peach.
In terms of sales and services, we sold Tabi Kuji on Peach flights
and in dedicated vending machines, offering travelers a random
destination. The Tabi Kuji comes with Peach points that can be used
to purchase airline tickets to the designated destination, missions at
the destination, etc. Through these offerings providing new travel
experiences leaving our customers’ destinations to chance and other
measures, we have strengthened our sales promotion measures for
generating new travel demand.
As a result, ASK and RPK increased 59.4% and 101.7%, respec-
tively, while load factor increased 12.9 points to 61.6%. Passenger
Others
Other operating revenues in the Air Transportation Business
amounted to ¥135.4 billion, an 8.0% decrease year on year. Results
include revenues from mileage memberships, in-flight sales, con-
tracted maintenance, etc.
(¥ Billions)
360
1,600
1,200
240
800
120
400
0
0
2017
2013
2018
2014
2019
2015
2020
2016
2021
2017
(Left)
International Cargo Revenues
(Right) ATK
RTK
Unit Price
* Figures for ATK, RTK, and Yield are indexed using the figures for fiscal 2017 as 100.
300
200
150
200
100
100
50
0
0
(FY)
numbers increased 105.1% to 4.26 million, while unit price
decreased 16.4% to ¥8,862. Operating revenues increased 71.3% to
¥37.8 billion.
LCC Business Performance (Peach Aviation Limited)
(Fiscal Year)
ASK (Millions)
RPK (Millions)
Number of passengers (Thousands)
Load factor (%)
Passenger revenues (¥ Billions)
Unit revenues (¥)
Yield (¥)
Unit price (¥)
* Difference
2021
2020
YoY (%)
7,863
4,846
4,267
61.6
37.8
4.8
7.8
4,932
+59.4
2,403
+101.7
2,080
+105.1
48.7
22.0
4.5
9.2
+12.9*
+71.3
+7.5
–15.0
–16.4
8,862
10,606
New initiatives to increase revenues amid the pandemic included
holding in-flight weddings by renting out parked international aircraft.
We also utilized ANA Blue Base, the ANA Group comprehensive
training center, to offer tours to experience the jobs of pilot, mainte-
nance crew, and cabin attendant, as well as to offer facility tours.
Operating Expenses
Air Transportation Business operating expenses decreased ¥3.8
billion year on year to ¥1,048.0 billion. Specific expense amounts and
explanations of year-on-year changes are described below.
Breakdown of Operating Revenues and Expenses
(¥ Millions)
(Fiscal Year)
2021
2020
Change
Segment operating revenues
¥ 885,096 ¥ 604,014
¥281,082
International Passenger
70,151
44,726
25,425
Cargo
Mail
328,750
160,503
168,247
5,448
2,948
2,500
Domestic
Passenger
279,877
203,119
76,758
Cargo
Mail
LCC revenues
Other revenues
Segment operating
expenses
24,932
20,881
2,666
2,550
4,051
116
37,813
22,071
15,742
135,459
147,216
(11,757)
1,048,028
1,051,908
(3,880)
Fuel and fuel tax
193,966
109,670
84,296
Landing and navigation fees
42,981
45,847
Aircraft leasing fees
113,054
107,592
(2,866)
5,462
Depreciation and
amortization
140,553
168,952
(28,399)
Aircraft maintenance
96,181
109,467
(13,286)
Personnel
158,505
163,776
(5,271)
Sales commissions and
promotion
Contracts
Others
Segment operating (loss)
income
27,618
47,289
(19,671)
168,836
182,869
106,334
116,446
(14,033)
(10,112)
¥ (162,932)
¥ (447,894)
¥284,962
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