{"id":9175,"date":"2024-03-19T06:07:39","date_gmt":"2024-03-19T11:07:39","guid":{"rendered":"https:\/\/lions.financial\/?p=9175"},"modified":"2024-05-14T04:43:44","modified_gmt":"2024-05-14T09:43:44","slug":"investment-research-analysis-risk-management-ana-airline","status":"publish","type":"post","link":"https:\/\/lions.financial\/hi\/investment-research-analysis-risk-management-ana-airline\/","title":{"rendered":"Investment Research Analysis Risk Management Ana Airline"},"content":{"rendered":"<p><b><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-11242\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-1.png\" alt=\"\" width=\"936\" height=\"120\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-1.png 936w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-1-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-1-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-1-18x2.png 18w\" sizes=\"(max-width: 936px) 100vw, 936px\" \/><\/b><\/p>\n<p>ANA Holdings Inc. and its subsidiaries provide air transportation services in Japan and internationally. It operates through Air Transportation, Airline Related Travel Services, and Trade And Retail segments. The Air Transportation segment offers domestic and international passenger operations, cargo and mail operations, and other transportation services.<\/p>\n<p>President C.E.O. INOUE, Shinichi<\/p>\n<p>Date of Foundation April 2, 2012<\/p>\n<p>Number of Employees 13,689 employees.<\/p>\n<p>Principal Purpose<\/p>\n<ul>\n<li>Scheduled air transportation business<\/li>\n<li>Nonscheduled air transportation business and business utilizing aircraft<\/li>\n<li>Business of buying, selling, leasing, and maintenance of aircraft and aircraft parts.<\/li>\n<li>Aircraft transportation ground support business, including passenger boarding procedures and loading of hand baggage.<\/li>\n<\/ul>\n<h2 style=\"font-size: 25px; text-align: center;\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-11243\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-2.png\" alt=\"Aero Mexico\" width=\"936\" height=\"120\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-2.png 936w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-2-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-2-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-2-18x2.png 18w\" sizes=\"(max-width: 936px) 100vw, 936px\" \/><\/h2>\n<p><b>Chairman<\/b><\/p>\n<p><b>Koji Shibata\u00a0<\/b><\/p>\n<p>President and CEO, ANA HOLDINGS INC.<\/p>\n<p><b>Representative Director, President, and CEO<\/b><\/p>\n<p><b>Shinichi Inoue<\/b><\/p>\n<p>Chairman of the Board of Directors, Corporate Planning Committee, Safety Promotion Committee, CX Strategy Committee, Internal Audit<\/p>\n<p><b>Representative Director, Senior Executive Vice President<\/b><\/p>\n<p><b>Ichiro Fukuzawa\u00a0<\/b><\/p>\n<p>Corporate Strategy<\/p>\n<p><b>Member of the Board, Executive Vice President (12)<\/b><\/p>\n<p><b>Katsuo Yokoyama<\/b><\/p>\n<p>Chief Safety Officer, Chairman of Safety Promotion Committee, Operations Committee, Operations Report &amp; Review Committee, Operation Division, Safety Promotion, Corporate Safety &amp; Quality Audit, Office for Government Aircraft Operations<\/p>\n<p><b>Toshiaki Toyama<\/b><\/p>\n<p>Cargo Marketing &amp; Services, President of ANA CARGO INC.<\/p>\n<p><b>Hideo Miyake<\/b><\/p>\n<p>Facilities, Procurement<\/p>\n<p><b>Hideki Kunugi<\/b><\/p>\n<p>Operation Division, Flight Operations<\/p>\n<p><b>Junichiro Miyagawa<\/b><\/p>\n<p>Alliances &amp; International Affairs, Future Creation<\/p>\n<p><b>Emiko Kajita<\/b><\/p>\n<p>ANA Group 70th Anniversary Project, ANA Brand Inflight Services Division, Operation Division, ANA Blue Base, Inflight Services<\/p>\n<p><b>Hideaki Kuroki\u00a0\u00a0<\/b><\/p>\n<p>Operation Division, Engineering &amp; Maintenance<\/p>\n<p><b>Shigeru Hattori<\/b><\/p>\n<p>Risk &amp; Compliance, Legal &amp; Insurance, General Administration<\/p>\n<p><b>Yoshiharu Naoki\u00a0\u00a0<\/b><\/p>\n<p><b>\u00a0<\/b>Human Resources, Employee Relations, Public Relations, Business<\/p>\n<p>Support<\/p>\n<p><b>Juichi Hirasawa<\/b><\/p>\n<p>Government &amp; Industrial Affairs, Executive Secretariat, Network Planning, Economic Security<\/p>\n<p><b>Junko Yazawa<\/b><\/p>\n<p>Chairman of CX Strategy Committee, Sales &amp; Marketing, Customer Experience Management &amp; Planning<\/p>\n<p><b>Kimihiro Nakahori<\/b><\/p>\n<p>Chief Financial Officer, Accounting &amp; Business Management<\/p>\n<p>&nbsp;<\/p>\n<p><b><img decoding=\"async\" class=\"aligncenter size-full wp-image-11244\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-3.png\" alt=\"\" width=\"936\" height=\"120\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-3.png 936w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-3-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-3-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-3-18x2.png 18w\" sizes=\"(max-width: 936px) 100vw, 936px\" \/>\u00a0<\/b><\/p>\n<p><b>Executive Vice President<\/b><\/p>\n<p><b>Norihiko Matsuda<\/b><\/p>\n<p>Operations Management Center<\/p>\n<p><b>Isamu Eto<\/b><\/p>\n<p>Employee Relations<\/p>\n<p><b>Masaki Yokai<\/b><\/p>\n<p>Operations Support Center<\/p>\n<p><b>Ken Sugiura<\/b><\/p>\n<p>General Manager, Corporate Safety, Safety Promotion Center<\/p>\n<p><b>Yoichi Katsuoka<\/b><\/p>\n<p>President of ANA WINGS CO., LTD.<\/p>\n<p><b>Naoko Nishijima<\/b><\/p>\n<p>Inflight Services Center<\/p>\n<p><b>Kiyoshige Kameda<\/b><\/p>\n<p>Flight Operations Center<\/p>\n<p><b>Kohei Tsuji <\/b><\/p>\n<p>Human Resources<\/p>\n<p><b>Shinichi Hayase<\/b><\/p>\n<p>Government &amp; Industrial Affairs, Office for Government Aircraft Operations<\/p>\n<p><b>Yuzo Hara<\/b><\/p>\n<p>General Manager, China, General Manager, Beijing<\/p>\n<p><b>Toshihiro Miyamae<\/b><\/p>\n<p>Engineering &amp; Maintenance Center<\/p>\n<p><b>Tomoji Ishii<\/b><\/p>\n<p>Customer Experience Management &amp; Planning<\/p>\n<p><b>Naoko Hara<\/b><\/p>\n<p>President of ANA TELEMART CO., LTD.<\/p>\n<p><b>Akiko Oyamada<\/b><\/p>\n<p>General Manager, Tokyo Airport, President of ANA AIRPORT SERVICES CO., LTD.<\/p>\n<p><b>Hidetomo Aramaki<\/b><\/p>\n<p>Digital Transformation<\/p>\n<p><b>Hiroyuki Kometani<\/b><\/p>\n<p>Corporate Strategy, Future Creation<\/p>\n<p><b>Jun Taneie<\/b><\/p>\n<p>DEI Promotion<\/p>\n<p><b>Naoaki Takayanagi<\/b><\/p>\n<p>Public Relations<\/p>\n<p><b>Atsuyo Shiomi<\/b><\/p>\n<p>Business Management, Corporate Strategy<\/p>\n<p><b>Katsuya Goto<\/b><\/p>\n<p>General Manager, EMEA, General Manager, London<\/p>\n<p><b>Hiroyuki Kondo<\/b><\/p>\n<p>Kansai Area Airports Management Division, General Manager, Osaka Airport, President of ANA OSAKA AIRPORT CO., LTD.<\/p>\n<p><b>Koji Oka<\/b><\/p>\n<p>General Manager, Narita Airport, President of ANA NARITA AIRPORT SERVICES CO., LTD.<\/p>\n<p><b>Toshio Nomura<\/b><\/p>\n<p>General Manager, The Americas, General Manager, New York<\/p>\n<p><b>Shinya Kanda<\/b><\/p>\n<p>General Manager, Asia &amp; Oceania, General Manager, Singapore<\/p>\n<p><b>Tadashi Matsushita<\/b><\/p>\n<p>Airline Management, Corporate Strategy<\/p>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11374\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/ANA-Insider-Share-Structure-1.png\" alt=\"\" width=\"1053\" height=\"135\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/ANA-Insider-Share-Structure-1.png 1053w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/ANA-Insider-Share-Structure-1-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/ANA-Insider-Share-Structure-1-1024x131.png 1024w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/ANA-Insider-Share-Structure-1-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/ANA-Insider-Share-Structure-1-18x2.png 18w\" sizes=\"(max-width: 1053px) 100vw, 1053px\" \/><\/h2>\n<p><b>\u00a0<\/b><\/p>\n<p><b>Major Shareholders<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Shareholder name<\/b><\/td>\n<td><b>Number of Shares held (Thousands)<\/b><\/td>\n<td><b>% of Total Shares in issue<\/b><\/td>\n<\/tr>\n<tr>\n<td>Japanese Individuals (97.97% Shareholders)<\/td>\n<td>271,074<\/td>\n<td>55.97<\/td>\n<\/tr>\n<tr>\n<td>The Master Trust Bank of Japan, Ltd. (trust account)<\/td>\n<td>57,358<\/td>\n<td>12.19<\/td>\n<\/tr>\n<tr>\n<td>Custody Bank of Japan, Ltd.(trust account)<\/td>\n<td>12,603<\/td>\n<td>2.68<\/td>\n<\/tr>\n<tr>\n<td>Nagoya Railroad Co., Ltd.<\/td>\n<td>7,313<\/td>\n<td>1.55<\/td>\n<\/tr>\n<tr>\n<td>ALL NIPPON AIRWAYS CO., LTD. Employee Stock Ownership Association<\/td>\n<td>3,818<\/td>\n<td>0.81<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Number of Shares of Common Stock<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td>Authorized<\/td>\n<td>1,020,000,000 shares<\/td>\n<\/tr>\n<tr>\n<td>Issued<\/td>\n<td>484,293,561 shares (47.478%)<\/td>\n<\/tr>\n<tr>\n<td>Number of Shareholders<\/td>\n<td>771,327<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Percentage of Total Shares in issue<\/b><\/p>\n<p><a href=\"https:\/\/lions.financial\/hi\/contact\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/total-shares.png\" alt=\"total shares ANA Airline\" width=\"1436\" height=\"704\" \/><\/a><\/p>\n<p>As of March 31, 2022, All Nippon Airways Authorized 1,020,000,000(1 Billion) Shares, where 47.47% (484 million) shares are issued in the Japanese Market.<\/p>\n<p>For the percentage of total shares in issue, 55.97% are held by Japanese individuals, Japanese Financial Institutions hold 20.62%, Other Japanese Corporations hold 10.28%, Foreign Institutions and Individuals hold 8.45%, 2.82% held by Treasury Stock and 0.02% held by Japanese Government and Local Public.<\/p>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11326\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/PRODUCT-POSITIONING.png\" alt=\"\" width=\"1053\" height=\"135\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/PRODUCT-POSITIONING.png 1053w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/PRODUCT-POSITIONING-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/PRODUCT-POSITIONING-1024x131.png 1024w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/PRODUCT-POSITIONING-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/PRODUCT-POSITIONING-18x2.png 18w\" sizes=\"(max-width: 1053px) 100vw, 1053px\" \/><\/h2>\n<p><b>\u00a0<\/b><\/p>\n<ol>\n<li><b> Sustainable Competitive Edge and Advantage<\/b><\/li>\n<li><b>ANA brand<\/b> will maintain its appeal to the <i>higher-priced market<\/i> while capturing a wider range of non-business passenger segments, which is expected to grow.<\/li>\n<li>Newly established <b>Third Brand<\/b> will tap into growth markets such as <i>Asia and Oceania<\/i>, targeting demand for inbound flights to Japan.<\/li>\n<li><b>Peach<\/b> targets domestic and neighboring Asian markets to cultivate demand for<i> low-cost and simplified operations<\/i>. Peach will expand domestic routes, mainly to major metropolitan airports.<\/li>\n<\/ol>\n<p>As each company transforms, ANA will pursue an optimal Air Transportation Business portfolio by maximizing group coverage of demand.<\/p>\n<p>ANA accomplishes this through the optimal positioning of each brand and stronger marketing collaborations.<\/p>\n<p>Business Plan for sustainable growth under the new normal of the post-COVID-19 era<\/p>\n<p>Source Market Share<\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Aircraft Type<\/b><\/td>\n<td colspan=\"4\"><b>Current Aircraft\u00a0<\/b><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Updated: Sep 10, 2022<\/b><\/td>\n<td><b>In Service<\/b><\/td>\n<td><b>Parked<\/b><\/td>\n<td><b>Total<\/b><\/td>\n<td><b>Future<\/b><\/td>\n<td><b>Avg. Age<\/b><\/td>\n<\/tr>\n<tr>\n<td>Airbus A320<\/td>\n<td>11<\/td>\n<td><\/td>\n<td>11<\/td>\n<td><\/td>\n<td>4.1 Years<\/td>\n<\/tr>\n<tr>\n<td>Airbus A321<\/td>\n<td>24<\/td>\n<td>2<\/td>\n<td>26<\/td>\n<td><\/td>\n<td>3.3 Years<\/td>\n<\/tr>\n<tr>\n<td>Airbus A380<\/td>\n<td>3<\/td>\n<td><\/td>\n<td>3<\/td>\n<td><\/td>\n<td>3.5 Years<\/td>\n<\/tr>\n<tr>\n<td>Boeing 737<\/td>\n<td>37<\/td>\n<td>2<\/td>\n<td>39<\/td>\n<td><\/td>\n<td>9.7 Years<\/td>\n<\/tr>\n<tr>\n<td>Boeing 767<\/td>\n<td>26<\/td>\n<td>1<\/td>\n<td>27<\/td>\n<td><\/td>\n<td>17.2 Years<\/td>\n<\/tr>\n<tr>\n<td>Boeing 777<\/td>\n<td>25<\/td>\n<td>7<\/td>\n<td>32<\/td>\n<td>3<\/td>\n<td>11.8 Years<\/td>\n<\/tr>\n<tr>\n<td>Boeing 787 Dreamliner<\/td>\n<td>73<\/td>\n<td>4<\/td>\n<td>77<\/td>\n<td>6<\/td>\n<td>7.1 Years<\/td>\n<\/tr>\n<tr>\n<td>Total<\/td>\n<td>199<\/td>\n<td>16<\/td>\n<td>215<\/td>\n<td>9<\/td>\n<td>8.9 Years<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Fleet Report<\/b><\/p>\n<p>Aircraft are the major investment used over the long term for airline companies, and ANA Group&#8217;s fleet strategy is based on three basic policies:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Strengthening cost competitiveness by introducing fuel-efficient aircraft<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Optimizing supply to demand by increasing the ratios of narrow- and medium-body aircraft<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\">Enhancing productivity by integrating aircraft types<\/li>\n<\/ul>\n<p><a href=\"https:\/\/lions.financial\/hi\/contact\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/Aircraft-Position-after-reduce-ANA-Airline.png\" alt=\"Aircraft Position after reduce - ANA Airline\" width=\"924\" height=\"748\" \/><\/a> <a href=\"https:\/\/lions.financial\/hi\/contact\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/ANA-Airline-Aircraft-position-1024x737.png\" alt=\"ANA Airline - Aircraft position\" width=\"1024\" height=\"737\" \/><\/a><\/p>\n<p>Aircraft Position: Reduce wide-body and increase medium-body aircraft<\/p>\n<p>Source Market Share.<\/p>\n<p>As Sep 10, 2022, All Nippon Airways has 215 aircraft, 199 in service, 16 parked, average service age of 8.9 years; where Airbus produces 18% (40) airplanes, and Boeing crafts 72% (175) airplanes.<\/p>\n<p>ANA&#8217;s most popular model is Boeing 787 Dreamliner(mainly 787-8, 787-9). Boeing 787 is wide-Body aircraft, available with seat 246 cruising range of 14,200 km.<\/p>\n<ol start=\"2\">\n<li><b> Pain Point Solution<\/b><\/li>\n<\/ol>\n<p><a href=\"https:\/\/lions.financial\/hi\/contact\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/Pain-Point-Solution-ANA-Airline-1024x515.png\" alt=\"Pain Point Solution - ANA Airline\" width=\"1024\" height=\"515\" \/><\/a><\/p>\n<p>To overcome COVID-19, ANA took emergency response measures in businesses, such as matching capacity to demand trends, optimizing personnel assignments and services, and introducing comprehensive hygiene measures.<\/p>\n<p>In terms of finances, they engaged in cost reduction measures, curbed capital expenditures, and secured enough liquidity.<\/p>\n<p>In addition, they conducted Business Structure Reform to return growth:<\/p>\n<p>1. Temporarily reduced scale of the Air Transportation Business (reduced by around 25 aircraft and 4000 employees).<\/p>\n<p>2. Transform the business model and maximize demand coverage across the group (ANA, Third Brand, Peach)<\/p>\n<p>3. Establish a platform business that utilizes customer data assets to create new revenue opportunities (product sales: car rental, education, shopping, travel, feedback, and advertisement).<\/p>\n<ol start=\"3\">\n<li><b> Goodwill Value(2021 Balance Sheet)<\/b><\/li>\n<\/ol>\n<p>Goodwill: $ 201,842,000<\/p>\n<p>Intangible Asset:\u00a0 $ 793,415,000<\/p>\n<p>Total Investment and Other Assets: $4,834,920,000<\/p>\n<p>Total(Asset): $28,975,548,000<\/p>\n<p>Goodwill in 2021 balance sheet equals $ 201,842,000, accounting for 4.17% of total investment &amp; other assets, or 0.69% of total assets.<\/p>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11246\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/competitive-analysis-globally.png\" alt=\"\" width=\"936\" height=\"120\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/competitive-analysis-globally.png 936w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/competitive-analysis-globally-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/competitive-analysis-globally-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/competitive-analysis-globally-18x2.png 18w\" sizes=\"(max-width: 936px) 100vw, 936px\" \/><\/h2>\n<p><b>\u00a0<\/b><\/p>\n<p><b>Asian<\/b><\/p>\n<p>Source market share<\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Company Name<\/b><\/td>\n<td><b>ANA All Nippon Airways<\/b><\/td>\n<td><b>Japan Airlines<\/b><\/td>\n<td><b>Singapore Airlines<\/b><\/td>\n<td><b>Asiana Airlines<\/b><\/td>\n<td><b>China Southern Airline\u00a0<\/b><\/td>\n<td><b>Cathay Pacific<\/b><\/td>\n<td><b>EVA Air<\/b><\/td>\n<\/tr>\n<tr>\n<td>Area<\/td>\n<td>Japan<\/td>\n<td>Japan<\/td>\n<td>Singapore<\/td>\n<td>South Korean<\/td>\n<td>China Mainland<\/td>\n<td>Hongkong<\/td>\n<td>Tai Wan<\/td>\n<\/tr>\n<tr>\n<td>Safety Rating<\/p>\n<p>(0\/7 Airline Ratings)<\/td>\n<td>7<\/td>\n<td>7<\/td>\n<td>7<\/td>\n<td>3<\/td>\n<td>7<\/td>\n<td>7<\/td>\n<td>7<\/td>\n<\/tr>\n<tr>\n<td>SKYTRAS Rating<\/p>\n<p>(0\/5 Skytrax Rating)<\/td>\n<td>5<\/td>\n<td>5<\/td>\n<td>5<\/td>\n<td>5<\/td>\n<td>4<\/td>\n<td>5<\/td>\n<td>5<\/td>\n<\/tr>\n<tr>\n<td>Market Cap\u00a0 US$<\/td>\n<td>9.01B<\/td>\n<td>7.83B<\/td>\n<td>11.09B<\/td>\n<td>0.78B<\/td>\n<td>14.44B<\/td>\n<td>6.8B<\/td>\n<td>5.58 B<\/td>\n<\/tr>\n<tr>\n<td>Valuation: Trailing P\/E<\/td>\n<td>9.1<\/td>\n<td>12.1<\/td>\n<td>9.01<\/td>\n<td>NA<\/td>\n<td>15.92<\/td>\n<td>14.07<\/td>\n<td>12.21<\/td>\n<\/tr>\n<tr>\n<td>Valuation: P\/B<\/td>\n<td>1.55<\/td>\n<td>1.35<\/td>\n<td>0.69<\/td>\n<td>3.95<\/td>\n<td>0.94<\/td>\n<td>0.77<\/td>\n<td>2.01<\/td>\n<\/tr>\n<tr>\n<td>Profitability: Profit Margin<\/td>\n<td>-7.80%<\/td>\n<td>-17\uff0c00%<\/td>\n<td>-12.63%<\/td>\n<td>-5.23%<\/td>\n<td>-20.89%<\/td>\n<td>-6.13%<\/td>\n<td>11.19%<\/td>\n<\/tr>\n<tr>\n<td>Profitability:<\/p>\n<p>Operating Margin<\/td>\n<td>-9.37%<\/td>\n<td>-25.32%<\/td>\n<td>-8.02%<\/td>\n<td>7.56%<\/td>\n<td>-17.70%<\/td>\n<td>5.63%<\/td>\n<td>14.57%<\/td>\n<\/tr>\n<tr>\n<td>Efficiency:<\/p>\n<p>Return on Assets<\/td>\n<td>-2.12%<\/td>\n<td>-5.69%<\/td>\n<td>-0.88%<\/td>\n<td>1.86%<\/td>\n<td>-3.10%<\/td>\n<td>0.87%<\/td>\n<td>3.49%<\/td>\n<\/tr>\n<tr>\n<td>Capitalization: Debt\/Equity<\/td>\n<td>207.52<\/td>\n<td>111.72<\/td>\n<td>69.88<\/td>\n<td>4009.54<\/td>\n<td>261.64<\/td>\n<td>121.59<\/td>\n<td>182.07<\/td>\n<\/tr>\n<tr>\n<td>Liquidity: Current Ratio<\/td>\n<td>1.82<\/td>\n<td>1.38<\/td>\n<td>2.25<\/td>\n<td>0.54<\/td>\n<td>0.3<\/td>\n<td>0.63<\/td>\n<td>1.27<\/td>\n<\/tr>\n<tr>\n<td>Employees<\/td>\n<td>42196<\/td>\n<td>35423<\/td>\n<td>14117<\/td>\n<td>8664<\/td>\n<td>98098<\/td>\n<td>16721<\/td>\n<td>10586<\/td>\n<\/tr>\n<tr>\n<td>Aircrafts<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>ANA All Nippon Airways has a 7-star in Safety rating and a 5-star Skytrax rating, the best rating in Airline Rating and Skytrax Rating. Meanwhile, Singapore Airlines, Cathay Pacific, and EVA Air have the same rating. ANA has below average P\/E value(9.1, average 12.1) and an average level PB value(1.55, average 1.65). The Profit Margin and Operating Margin stand in the middle level. ANA has a relatively higher current ratio and lower D\/E ratio. ANA has 42196 employees, which ranks third in Asia.<\/p>\n<p><b>US &amp; EUR<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Company Name<\/b><\/td>\n<td><b>ANA\u00a0<\/b><\/td>\n<td><b>Delta<\/b><\/td>\n<td><b>Southwest Airlines<\/b><\/td>\n<td><b>United<\/b><\/p>\n<p><b>Airlines<\/b><\/td>\n<td><b>American Airline<\/b><\/td>\n<\/tr>\n<tr>\n<td>Area<\/td>\n<td>Japan<\/td>\n<td>US<\/td>\n<td>US<\/td>\n<td>US<\/td>\n<td>US<\/td>\n<\/tr>\n<tr>\n<td>Safety Rating<\/p>\n<p>(0\/7 Airline Ratings.com)<\/td>\n<td>7<\/td>\n<td>7<\/td>\n<td>7<\/td>\n<td>7<\/td>\n<td>7<\/td>\n<\/tr>\n<tr>\n<td>SKYTRAS Rating<\/p>\n<p>(0\/5 SkyTrax Rating)<\/td>\n<td>5<\/td>\n<td>3<\/td>\n<td>4<\/td>\n<td>3<\/td>\n<td>3<\/td>\n<\/tr>\n<tr>\n<td>Market Cap $<\/td>\n<td>9.01B<\/td>\n<td>20.94B<\/td>\n<td>22.76B<\/td>\n<td>12.82B<\/td>\n<td>9.22B<\/td>\n<\/tr>\n<tr>\n<td>Valuation: Trailing P\/E<\/td>\n<td>9.1<\/td>\n<td>34.29<\/td>\n<td>34.29<\/td>\n<td>9.5<\/td>\n<td>2.81<\/td>\n<\/tr>\n<tr>\n<td>Valuation: Price to Book Ratio<\/td>\n<td>1.55<\/td>\n<td>5.42<\/td>\n<td>1.96<\/td>\n<td>3.2<\/td>\n<td>NA<\/td>\n<\/tr>\n<tr>\n<td>Profitability: Profit Margin<\/td>\n<td>-7.80%<\/td>\n<td>1.43%<\/td>\n<td>4.71%<\/td>\n<td>-3.43%<\/td>\n<td>-4.72%<\/td>\n<\/tr>\n<tr>\n<td>Profitability: Operating Margin<\/td>\n<td>-9.37%<\/td>\n<td>4.11%<\/td>\n<td>5.98%<\/td>\n<td>-2.05%<\/td>\n<td>-3.54%<\/td>\n<\/tr>\n<tr>\n<td>Efficiency: Return on Assets<\/td>\n<td>-2.12%<\/td>\n<td>1.43%<\/td>\n<td>2.07%<\/td>\n<td>-0.64%<\/td>\n<td>-1.28%<\/td>\n<\/tr>\n<tr>\n<td>Capitalization: Total Debt \/ Equity<\/td>\n<td>207.52<\/td>\n<td>883.52<\/td>\n<td>107.92<\/td>\n<td>994.45<\/td>\n<td>NA<\/td>\n<\/tr>\n<tr>\n<td>Liquidity: Current Ratio<\/td>\n<td>1.82<\/td>\n<td>0.66<\/td>\n<td>1.66<\/td>\n<td>1.04<\/td>\n<td>0.81<\/td>\n<\/tr>\n<tr>\n<td>Employees<\/td>\n<td>42,196<\/td>\n<td>83,000<\/td>\n<td>55,100<\/td>\n<td>84,100<\/td>\n<td>123,400<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table>\n<tbody>\n<tr>\n<td><b>Company Name<\/b><\/td>\n<td><b>ANA\u00a0<\/b><\/td>\n<td><b>Turkis Airlines<\/b><\/td>\n<td><b>Lufthansa<\/b><\/td>\n<td><b>Swiss Internation Air Lines<\/b><\/td>\n<td><b>British Airways<\/b><\/td>\n<\/tr>\n<tr>\n<td>Area<\/td>\n<td>Japan<\/td>\n<td>Turkey<\/td>\n<td>Germany<\/td>\n<td>Switzerland<\/td>\n<td>England<\/td>\n<\/tr>\n<tr>\n<td>Safety Rating<\/p>\n<p>(0\/7 Airline Ratings.com)<\/td>\n<td>7<\/td>\n<td>7<\/td>\n<td>7<\/td>\n<td>7<\/td>\n<td>7<\/td>\n<\/tr>\n<tr>\n<td>SKYTRAS Rating<\/p>\n<p>(0\/5 SkyTrax Rating)<\/td>\n<td>5<\/td>\n<td>3<\/td>\n<td>4<\/td>\n<td>4<\/td>\n<td>4<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source Market Share<\/p>\n<p>ANA has the highest rating in both Safety and Skytrax ratings. Compared with North American airlines, ANA has a relatively smaller market capitalization in terms of a company valuation. The market capital for Delta is 20B, Southwest Airlines is 22B, and United Airlines is 12B ANA&#8217;s 9B. Delta and Southwest Airlines have relatively larger P\/E ratios than others.<\/p>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11367\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Financial-Statement-Risk-Factors.png\" alt=\"\" width=\"1053\" height=\"135\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Financial-Statement-Risk-Factors.png 1053w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Financial-Statement-Risk-Factors-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Financial-Statement-Risk-Factors-1024x131.png 1024w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Financial-Statement-Risk-Factors-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Financial-Statement-Risk-Factors-18x2.png 18w\" sizes=\"(max-width: 1053px) 100vw, 1053px\" \/><\/h2>\n<p><b>\u00a0<\/b><\/p>\n<p><b>Major Risk<\/b><\/p>\n<p>According to the company&#8217;s annual report, industry development and the international situation determine each year&#8217;s key risks. Some risks will last for a long time, while others are comprehensive, and while affecting multiple categories, the duration is also longer.<\/p>\n<p><b>Risk Level and Factors<\/b><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/Risk-Level-ANA-Airline-1024x203.png\" alt=\"Risk Level - ANA Airline\" width=\"1024\" height=\"203\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Risks mentioned by the financial reports were summarized into 6 categories.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Economic recession and fuel are the two main risks and the company&#8217;s focus category.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Operation disruptions and government regulations refer to strategic risks.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">IT risks include system failures, personal information leaks, power outages, viruses, etc.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">The uncertainties of the international situation have increased in the past few years.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Risk level refers to how many risk factors became loss in that fiscal year.<\/li>\n<\/ul>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11249\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/current-balance-sheet.png\" alt=\"\" width=\"936\" height=\"120\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/current-balance-sheet.png 936w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/current-balance-sheet-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/current-balance-sheet-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/current-balance-sheet-18x2.png 18w\" sizes=\"(max-width: 936px) 100vw, 936px\" \/><\/h2>\n<p><b>\u00a0<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Year<\/b><\/td>\n<td><b>Total Assets<\/b><\/td>\n<td><b>% Difference<\/b><\/td>\n<td><b>Total Liabilities Net Minority Interest<\/b><\/td>\n<td><b>% Difference<\/b><\/td>\n<td><b>Total Equity Gross Minority Interest<\/b><\/td>\n<td><b>% Difference<\/b><\/td>\n<td><b>Total Capitalization<\/b><\/td>\n<td><b>% Difference<\/b><\/td>\n<td><b>Total Debt<\/b><\/td>\n<td><b>% Difference<\/b><\/td>\n<td><b>Share Issued<\/b><\/td>\n<\/tr>\n<tr>\n<td>2022<\/td>\n<td>3,218,433,000,000<\/td>\n<td>0.33%<\/td>\n<td>2,415,018,000,000<\/td>\n<td>10.00%<\/td>\n<td>803,415,000,000<\/td>\n<td>-20.64%<\/td>\n<td>2,304,467,000,000<\/td>\n<td>-7.10%<\/td>\n<td>1,750,108,000,000<\/td>\n<td>5.72%<\/td>\n<td>484,293,561<\/td>\n<\/tr>\n<tr>\n<td>2021<\/td>\n<td>3,207,883,000,000<\/td>\n<td>25.30%<\/td>\n<td>2,195,563,000,000<\/td>\n<td>47.23%<\/td>\n<td>1,012,320,000,000<\/td>\n<td>-5.29%<\/td>\n<td>2,480,485,000,000<\/td>\n<td>39.12%<\/td>\n<td>1,655,452,000,000<\/td>\n<td>96.41%<\/td>\n<td>484,293,561<\/td>\n<\/tr>\n<tr>\n<td>2020<\/td>\n<td>2,560,153,000,000<\/td>\n<td>-4.73%<\/td>\n<td>1,491,283,000,000<\/td>\n<td>-5.48%<\/td>\n<td>1,068,870,000,000<\/td>\n<td>-3.65%<\/td>\n<td>1,782,928,000,000<\/td>\n<td>1.23%<\/td>\n<td>842,862,000,000<\/td>\n<td>6.87%<\/td>\n<td>348,498,361<\/td>\n<\/tr>\n<tr>\n<td>2019<\/td>\n<td>2,687,122,000,000<\/td>\n<td>4.86%<\/td>\n<td>1,577,809,000,000<\/td>\n<td>1.02%<\/td>\n<td>1,109,313,000,000<\/td>\n<td>10.87%<\/td>\n<td>1,761,243,000,000<\/td>\n<td>5.35%<\/td>\n<td>788,649,000,000<\/td>\n<td>-1.22%<\/td>\n<td>348,498,361<\/td>\n<\/tr>\n<tr>\n<td>2018<\/td>\n<td>2,562,462,000,000<\/td>\n<td><\/td>\n<td>1,561,910,000,000<\/td>\n<td><\/td>\n<td>1,000,552,000,000<\/td>\n<td><\/td>\n<td>1,671,846,000,000<\/td>\n<td><\/td>\n<td>798,393,000,000<\/td>\n<td><\/td>\n<td>348,498,361<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Horizontally, total assets increased from 2.56 billion in 2018 to 3.22 billion in 2022, total liabilities increased from 1.56 billion in 2018 to 2.41 billion, and total equity decreased from 1.00 billion in 2018 to 0.80 billion in 2022.<\/p>\n<p>In 2021, the total liabilities increased 47.23%, from 1.49 billion to 2.19 billion.<\/p>\n<p>In 2021, to face the COVID-19 effect, the total debt increased 96.41% from 0.84 billion in 2020 to 1.65 billion, and issued shares increased from 348 million to 484 million, with 135,795,200 additional issued shares.<\/p>\n<p>From 2020 to 2022, the total equity changes by year are all less than 0; separately are -3.65%, -5.29%, -20.64%.<\/p>\n<p><b>Income Statement<\/b><b>\u00a0<\/b><\/p>\n<p><a href=\"https:\/\/lions.financial\/hi\/contact\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/Income-Statement-ANA-Airline-1024x677.png\" alt=\"Income Statement - ANA Airline\" width=\"1024\" height=\"677\" \/><\/a><\/p>\n<p><b>Common Size Proportion\u00a0<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Year<\/b><\/td>\n<td>2022<\/td>\n<td>2021<\/td>\n<td>2020<\/td>\n<td>2019<\/td>\n<td>2018<\/td>\n<\/tr>\n<tr>\n<td><b>Total Revenue<\/b><\/td>\n<td>100%<\/td>\n<td>100%<\/td>\n<td>100%<\/td>\n<td>100%<\/td>\n<td>100%<\/td>\n<\/tr>\n<tr>\n<td><b>Cost Of Revenue<\/b><\/td>\n<td>103%<\/td>\n<td>137%<\/td>\n<td>80%<\/td>\n<td>76%<\/td>\n<td>75%<\/td>\n<\/tr>\n<tr>\n<td><b>Gross Profit<\/b><\/td>\n<td>-3%<\/td>\n<td>-37%<\/td>\n<td>20%<\/td>\n<td>24%<\/td>\n<td>25%<\/td>\n<\/tr>\n<tr>\n<td><b>Operating Expense<\/b><\/td>\n<td>14%<\/td>\n<td>27%<\/td>\n<td>17%<\/td>\n<td>16%<\/td>\n<td>17%<\/td>\n<\/tr>\n<tr>\n<td><b>General And Administrative Expenses<\/b><\/td>\n<td>2%<\/td>\n<td>4%<\/td>\n<td>0%<\/td>\n<td>0%<\/td>\n<td>0%<\/td>\n<\/tr>\n<tr>\n<td><b>Selling And Marketing Expenses<\/b><\/td>\n<td>2%<\/td>\n<td>6%<\/td>\n<td>6%<\/td>\n<td>6%<\/td>\n<td>6%<\/td>\n<\/tr>\n<tr>\n<td><b>Operating Income<\/b><\/td>\n<td>-17%<\/td>\n<td>-64%<\/td>\n<td>3%<\/td>\n<td>8%<\/td>\n<td>8%<\/td>\n<\/tr>\n<tr>\n<td><b>Pretax Income<\/b><\/td>\n<td>-17%<\/td>\n<td>-75%<\/td>\n<td>3%<\/td>\n<td>7%<\/td>\n<td>10%<\/td>\n<\/tr>\n<tr>\n<td><b>Tax Provision<\/b><\/td>\n<td>-3%<\/td>\n<td>-19%<\/td>\n<td>1%<\/td>\n<td>2%<\/td>\n<td>3%<\/td>\n<\/tr>\n<tr>\n<td><b>Total Expenses<\/b><\/td>\n<td>117%<\/td>\n<td>164%<\/td>\n<td>97%<\/td>\n<td>92%<\/td>\n<td>92%<\/td>\n<\/tr>\n<tr>\n<td><b>EBIT<\/b><\/td>\n<td>-15%<\/td>\n<td>-73%<\/td>\n<td>3%<\/td>\n<td>8%<\/td>\n<td>10%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>From the Income Statement before COVID-19, the ANA\u2019s gross profit could reach 25% in 2018, 24% in 2019, 20% in 2020, then decrease to -37% in 2021, -3% in 2022.<\/p>\n<p>Operating Expenses could account for 17% in 2018, 16% in 2019, 17% in 2020, 27% in 2021, and 14% in 2022. Earning Before Interest Tax(EBIT) decreases from 10% in 2018 to 8% in 2019, 3% in 2020, -73% in 2021, and 15% in 2022.<\/p>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11253\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/cash-flow-statement.png\" alt=\"\" width=\"936\" height=\"120\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/cash-flow-statement.png 936w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/cash-flow-statement-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/cash-flow-statement-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/cash-flow-statement-18x2.png 18w\" sizes=\"(max-width: 936px) 100vw, 936px\" \/><\/h2>\n<p><b>\u00a0<\/b><\/p>\n<p>Before 2021 ANA had positive Operating Cash-flow with 316 billion in 2018, 296 billion in 2019, and 130 billion in 2020. After the COVID pandemic, the operating cash decreased to -270 billion in 2021 and increased to -76 billion in 2022.<\/p>\n<p>However, regarding Investing Cash-flow, ANA has negative cash flow except in 2022, with -324 billion in 2018, -308 billion in 2019, -230 billion in 2020, -595 billion in 2021, and 230 billion in 2022.<\/p>\n<p>For Financing Cash-flow in 2021, ANA has +1,098 billion cash flow, an end cash position of 370 billion Yan, change in cash + 231 billion. In 2022, ANA had +93 billion, an end cash position of 621 billion, change in cash + 247 billion.<\/p>\n<p>In 2021, there were 296,197,000,000 Yan for issuance of capital stock.<\/p>\n<p>Insurance debt increased from 166 billion in 2020 to 828 billion in 2021, decreasing to 169 billion in 2022.<\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Year<\/b><\/td>\n<td>2018<\/td>\n<td>2019<\/td>\n<td>2020<\/td>\n<td>2021<\/td>\n<td>2022<\/td>\n<\/tr>\n<tr>\n<td><b>Operating Cash Flow<\/b><\/td>\n<td>316,014,000,000<\/td>\n<td>296,148,000,000<\/td>\n<td>130,169,000,000<\/td>\n<td>-270,441,000,000<\/td>\n<td>-76,413,000,000<\/td>\n<\/tr>\n<tr>\n<td><b>Investing Cash Flow<\/b><\/td>\n<td>-324,494,000,000<\/td>\n<td>-308,671,000,000<\/td>\n<td>-230,218,000,000<\/td>\n<td>-595,759,000,000<\/td>\n<td>230,019,000,000<\/td>\n<\/tr>\n<tr>\n<td><b>Financing Cash Flow<\/b><\/td>\n<td>-29,989,000,000<\/td>\n<td>-46,480,000,000<\/td>\n<td>23,869,000,000<\/td>\n<td>1,098,172,000,000<\/td>\n<td>93,646,000,000<\/td>\n<\/tr>\n<tr>\n<td><b>End Cash Position<\/b><\/td>\n<td>270,509,000,000<\/td>\n<td>211,838,000,000<\/td>\n<td>135,937,000,000<\/td>\n<td>370,322,000,000<\/td>\n<td>621,037,000,000<\/td>\n<\/tr>\n<tr>\n<td><b>Changes In Cash<\/b><\/td>\n<td>-38,469,000,000<\/td>\n<td>-59,003,000,000<\/td>\n<td>-76,180,000,000<\/td>\n<td>231,972,000,000<\/td>\n<td>247,252,000,000<\/td>\n<\/tr>\n<tr>\n<td><b>Free Cash Flow<\/b><\/td>\n<td>11,307,000,000<\/td>\n<td>-79,716,000,000<\/td>\n<td>-221,192,000,000<\/td>\n<td>-427,151,000,000<\/td>\n<td>-209,777,000,000<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\"><b>Issuance Of Capital Stock<\/b><\/td>\n<td><\/td>\n<td>296,197,000,000<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Issuance Of Debt<\/b><\/td>\n<td>184,941,000,000<\/td>\n<td>89,586,000,000<\/td>\n<td>166,270,000,000<\/td>\n<td>827,988,000,000<\/td>\n<td>169,799,000,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source Market Share.<\/p>\n<p><a href=\"https:\/\/lions.financial\/hi\/contact\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/Ana-Airline-Cash-Flow-Statement-1024x642.png\" alt=\"Ana Airline Cash Flow Statement\" width=\"1024\" height=\"642\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11368\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Capitalization-Requirements-Dept.png\" alt=\"\" width=\"1053\" height=\"135\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Capitalization-Requirements-Dept.png 1053w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Capitalization-Requirements-Dept-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Capitalization-Requirements-Dept-1024x131.png 1024w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Capitalization-Requirements-Dept-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Capitalization-Requirements-Dept-18x2.png 18w\" sizes=\"(max-width: 1053px) 100vw, 1053px\" \/><\/h2>\n<p><b>\u00a0<\/b><\/p>\n<p>Source Market Share.<\/p>\n<p><a href=\"https:\/\/lions.financial\/hi\/contact\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/Total-Liabilities-ANA-Airline.png\" alt=\"Total Liabilities ANA Airline\" width=\"914\" height=\"417\" \/><\/a><\/p>\n<p>In 2022, for the total liabilities (2,415 billion), 28%(687.889 billion) came from current liabilities, and 72%(1,727 billion) came from total noncurrent liabilities net minority interest. 10%(236 billion) comes from current debt and capital lease obligations. 63% (1,513 billion) comes from long-term debt and capital lease obligation.<\/p>\n<p>The Debt\/Equity ratio increased from 0.789 in 2018 to 0.711 in 2019, 0.789 in 2020, 1.635 in 2021, and 2.178 in 2022.<\/p>\n<p><a href=\"https:\/\/lions.financial\/hi\/contact\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/Debt-and-Equity-ratio-ANA-Airline-1024x686.png\" alt=\"Debt and Equity ratio - ANA Airline\" width=\"1024\" height=\"686\" \/><\/a><\/p>\n<p>Source investopedia.<\/p>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11369\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Capitalization-Requirements-Equity.png\" alt=\"\" width=\"1053\" height=\"135\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Capitalization-Requirements-Equity.png 1053w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Capitalization-Requirements-Equity-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Capitalization-Requirements-Equity-1024x131.png 1024w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Capitalization-Requirements-Equity-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/Capitalization-Requirements-Equity-18x2.png 18w\" sizes=\"(max-width: 1053px) 100vw, 1053px\" \/><\/h2>\n<p><b>\u00a0<\/b><\/p>\n<p>The P\/E ratio changes from 8.598 in 2018, 13.86 in 2019, and 10.112 in 2020 to 0 in 2021 and 2022.<\/p>\n<p>In 2022, the proportion of equity 99%comes from stockholder equity, and 1% will come from minority interest. Within the stockholder equity, 58% comes from capital stock, 51% from additional paid-in capital, and 7% from treasury stock.<\/p>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11252\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/breakeven-analysis.png\" alt=\"\" width=\"936\" height=\"120\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/breakeven-analysis.png 936w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/breakeven-analysis-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/breakeven-analysis-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/breakeven-analysis-18x2.png 18w\" sizes=\"(max-width: 936px) 100vw, 936px\" \/><\/h2>\n<p><b>\u00a0<\/b><\/p>\n<p>The breakeven point is determined by comparing the market price of an asset to the original cost; the breakeven point is reached when the two prices are equal.<\/p>\n<p>Formula: BEP = Fixed Costs \/ (Price per Unit Charged \u2013 Variable cost per unit)<\/p>\n<p>Breakeven Load Factor (BLF) is the average percentage of seats that must be filled on an average flight at current average fares for the airline\u2019s passenger revenue to break even with the airline\u2019s operating expenses.<\/p>\n<p><a href=\"https:\/\/lions.financial\/hi\/contact\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/Domestic-Breakeven-Load-Percentage.png\" alt=\"Domestic Breakeven Load Percentage\" width=\"542\" height=\"302\" \/><\/a><\/p>\n<p><a href=\"https:\/\/lions.financial\/hi\/contact\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/International-Breakeven-Load-Percentage.png\" alt=\"International Breakeven Load Percentage\" width=\"542\" height=\"326\" \/><\/a><\/p>\n<p>For domestic operations, the BLP increased around 2020 and then decreased by 2021, showing an opposite pattern of the PLF. This means that ANA experienced a profit loss in 2020 and made a relatively low profit in 2021. After that, ANA started generating profit again.<\/p>\n<p>For international operations, the main pattern is the same. However, we should notice a big difference that the BLP and PLF lines crossed around mid-2020. This means that ANA generated a net loss. This situation turned out better after 2021.\u00a0 Expectedly, ANA will generate net profit again around 2023.<\/p>\n<p><a href=\"https:\/\/lions.financial\/hi\/contact\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/Domestic-and-International-Percentage-ANA-Airline.png\" alt=\"Domestic and International Percentage - ANA Airline\" width=\"608\" height=\"226\" \/><\/a><\/p>\n<p>Source MarketShare.<\/p>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11259\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/market-research.png\" alt=\"\" width=\"936\" height=\"120\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/market-research.png 936w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/market-research-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/market-research-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/market-research-18x2.png 18w\" sizes=\"(max-width: 936px) 100vw, 936px\" \/><\/h2>\n<p><b>\u00a0<\/b><\/p>\n<p><b>Target Market Research<\/b><\/p>\n<p><b>Target customers for the company\u00a0<\/b><\/p>\n<p><b>Single Travelers:<\/b><\/p>\n<p>Single travelers normally travel alone without a companion. Generally, they will look for the quickest and most convenient way to travel and are willing to pay a little more for additional services.<\/p>\n<p>Needs: Flexible flight schedule; on-board facilities (charger, inflight entertainment)<\/p>\n<p>Acquire: More flight options; wifi, charger, etc.; on-board entertainment<\/p>\n<p><b>Families with small children:<\/b><\/p>\n<p>Families with children are the main target market of the industry. Generally, their budget per capita is less than single travelers.<\/p>\n<p>Needs: Value-of-money flight &amp; bundle; child-friendly<\/p>\n<p>Acquire: Small children\u2019s playground; Dining; flight package deals; family plans; cartoon cooperation<\/p>\n<p><b>Group Travelers:<\/b><\/p>\n<p>A group of people traveling together due to business or leisure will usually be booked together through a travel agent.<\/p>\n<p>Needs: Discount; travel bundle<\/p>\n<p>Acquire: Package deals; partner with the travel company<\/p>\n<p><b>Couple Travelers:<\/b><\/p>\n<p>Couples without a kid or newlyweds, most of them travel because of leisure and tend to arrange their own itineraries.<\/p>\n<p>Needs: Cost-effective; popular tourist destination; couple specials<\/p>\n<p>Acquire: Travel package for two; wedding plan<\/p>\n<p><b>Elderly Travelers:<\/b><\/p>\n<p>Elderly travelers usually travel on lower budgets in order to have a better flight experience, most elders are willing to spend more on flights that provide a better service.<\/p>\n<p>Needs: Assistance; Special amenities<\/p>\n<p>Acquire Discount; ground assistance; medical team support; wheelchair; elder or disabled assistance;.<\/p>\n<p><b>Business Travelers:\u00a0<\/b><\/p>\n<p>Business travelers are the second main target market of the industry. They travel for work reasons and mostly fly during peak periods. Usually, they have a strict schedule, need the most convenient light, and are willing to pay extra for shorter and direct flights.<\/p>\n<p>Needs: Convenient flight; able to work; on time<\/p>\n<p>Acquire: Increase number of flights; more flexible choice (refunds, move date); onboard work supply (Wifi, power charger, etc.); fast access (check-in, Security)<\/p>\n<p><b>Leisure Travelers:<\/b><\/p>\n<p>Leisure travelers have plenty of time unconstrained by schedules (expect families with kids, they are normally limited by holidays and breaks). They are more interested in a country with a unique culture, accretions, nightlife or other points.<\/p>\n<p>Needs: Value of money; more destination choice; season special<\/p>\n<p>Acquire: Travel package; more destinations; multiple flight\/ cheap flight options<\/p>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11346\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/BRAND-POSITIONING.png\" alt=\"\" width=\"1053\" height=\"135\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/BRAND-POSITIONING.png 1053w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/BRAND-POSITIONING-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/BRAND-POSITIONING-1024x131.png 1024w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/BRAND-POSITIONING-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2024\/03\/BRAND-POSITIONING-18x2.png 18w\" sizes=\"(max-width: 1053px) 100vw, 1053px\" \/><\/h2>\n<p><b><a href=\"https:\/\/lions.financial\/hi\/contact\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2023\/03\/ANA-Airline-Position-1024x622.png\" alt=\"ANA Airline - Position\" width=\"1024\" height=\"622\" \/><\/a><br \/>\n<\/b><\/p>\n<p>ANA\u2019s mission is to provide customers with reliable, safe, trustworthy, and efficient services. Since Covid-19 has caused a severe shock to the entire airline industry, the company has set a short-term goal and a medium-term goal: survive the pandemic and gradually return to the original level in the future.<\/p>\n<p>ANA Airlines received the On-time Performance Award for flight performance in 2021 and has Japan&#8217;s lowest cancellation and delay rates. It also has the World&#8217;s Best Airline Cabin Cleanliness, the World&#8217;s Best Airport Services, the Best Airline Staff in Asia, the Best First Class Lounge in Asia, 5 Star Airline, and Covid-19 Safety 5 star Rating of Global Skytrax Awards. ANA is also rated by the consumer website WalletHub For World&#8217;s top 100 Airlines 2021. On the AirlineRating website, consumers gave Safety, Product, and Covid-19 Star Rating Breakdown 7\/7 evaluation.<\/p>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11245\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-4.png\" alt=\"\" width=\"936\" height=\"120\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-4.png 936w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-4-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-4-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/Inside-title-design-4-18x2.png 18w\" sizes=\"(max-width: 936px) 100vw, 936px\" \/><\/h2>\n<p><b>\u00a0<\/b><\/p>\n<p><b>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/b> <b>Strengths:<\/b><\/p>\n<ol>\n<li><b><\/b> Spirit of challenge<\/li>\n<li>Continue to introduce new services and better products<\/li>\n<li>Reform business structure in order to adapt to the new normal<\/li>\n<li>Comprehensive capabilities<\/li>\n<li>Various departments have close cross-border cooperation<\/li>\n<li>Strong relationships<\/li>\n<li>Close relationship with stakeholders<\/li>\n<li>Focus on cooperation with business partner<\/li>\n<li>Mutual trust with customers<\/li>\n<li>Group Quality<\/li>\n<li>Improve quality and service by ensuring safety and pursuing on-time operations relentlessly.<\/li>\n<li>Creating environments to inspire passenger confidence<\/li>\n<li>Japan\u2019s largest airline<\/li>\n<\/ol>\n<p><b>Weaknesses:<\/b><\/p>\n<ol>\n<li>Low-cost airlines service competition<\/li>\n<li>Significant losses<\/li>\n<li>Since 2021, due to the impact of the epidemic, ANA has lost more than 400 billion yen and more than 100 billion yen for two consecutive years<\/li>\n<\/ol>\n<p><b>Opportunities:<\/b><\/p>\n<ol>\n<li>Tourists Increasing with Travel Restrictions Decreasing<\/li>\n<li>International import and export opening<\/li>\n<li>Business activities gradually resumed, and freight demand increased<\/li>\n<li>World economy shifting to Asia-Pacific<\/li>\n<li>Asian country GDP and per capita income rising<\/li>\n<li>Increased demand for air travel<\/li>\n<\/ol>\n<p><b>Threats:<\/b><\/p>\n<ol>\n<li>Covid-19 Pandemic<\/li>\n<li>Travel restrictions<\/li>\n<li>Remote work. The virtual meetings will reduce the need for business travel<\/li>\n<li>Travelers prefer domestic rather than foreign<\/li>\n<li>Oil prices<\/li>\n<li>Flight restrictions<\/li>\n<li>Government regulations<\/li>\n<li>Air traffic control<\/li>\n<\/ol>\n<h2 style=\"font-size: 25px; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11260\" src=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/mergers-and-acquisitions.png\" alt=\"\" width=\"936\" height=\"120\" srcset=\"https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/mergers-and-acquisitions.png 936w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/mergers-and-acquisitions-300x38.png 300w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/mergers-and-acquisitions-768x98.png 768w, https:\/\/lions.financial\/wp-content\/uploads\/2022\/10\/mergers-and-acquisitions-18x2.png 18w\" sizes=\"(max-width: 936px) 100vw, 936px\" \/><\/h2>\n<p><b>\u00a0<\/b><\/p>\n<p><b>Formation:<\/b><\/p>\n<p>The Japan Helicopter and Aeroplane Transports Company, or Nippon Helicopter and Aeroplane, was founded on Dec 27th, 1952. It was to be Japan\u2019s first post-war privately-owned air transport company, established two years after a ban on private air operations imposed by the Allied Forces was lifted. Nippon Helicopter and Aeroplane commenced operations with just two helicopters two months later.<\/p>\n<p><b>Fundamental:<\/b><\/p>\n<p>1957 Dec. The company name is changed to All Nippon Airways Co. Ltd (ANA)<\/p>\n<p><b><i>1958 Mar. ANA merges with Far Eastern Airlines(\u8fdc\u4e1c\u822a\u7a7a)<\/i><\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><i>Horizontal Merge with Far Eastern Airlines, t<\/i>he combined companies had a total market capitalization of 600 million yen, and the merged company became the largest Japan private airline company.<\/li>\n<\/ul>\n<p>1961 Oct. ANA listed in Tokyo Stock Exchange and Osaka Securities Exchange<\/p>\n<p><b><i>1963 Nov. ANA merges with Fujita Koku K.K (\u85e4\u7530\u822a\u7a7a).<\/i><\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i>Horizontal Merge with Fujita Koku Airline, raising the company\u2019s capital to 4.65 billion yen.<\/i><\/li>\n<\/ul>\n<p>1991 Oct. ANA\u2019s shares are listed on the London Stock Exchange<\/p>\n<p>2004 Apr. The ANA Group is integrated under a single brand (All flight numbers use \u201cANA\u201d)<\/p>\n<p><i>2010 Oct A three-company merge is undertaken of Air Nippon Network, and multi-subsidiaries merged.<\/i><\/p>\n<p>2011 July All Nippon Airways and AirAsia agreed to form a low-cost carrier called AirAsia Japan.<\/p>\n<p><b><i>ANA absorbs 2012 Apr. Air Nippon Co. Ltd\u00a0<\/i><\/b><\/p>\n<p><b>Objective:\u00a0<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">ANA would merge with ANK, and the move would enable both the company and ANK to utilize their corporate resource fully<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Building a production structure that can respond with stability and flexibility to future business expansion<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Changes in the business environment<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">The two companies are expected to make further progress in streaming operations.<\/li>\n<\/ul>\n<p><b>Method of Merge: <\/b>This was an acquisition and merger, with ANA surviving and ANK being dissolved.<\/p>\n<p><b>Allocation of related shares: <\/b>Since ANK was a wholly-owned subsidiary of the company, there were no issues of new shares, increases in capital, or payment of funds resulting from the merger.<\/p>\n<p><b>New Share warrants and corporate bonds: <\/b>ANK, the extinct company, issued no new share warrants or bonds with the preemptive right.<\/p>\n<p><b>2013 Apr. Introduction of a holding company structure and the start of ANA HOLDINGS INC.<\/b><\/p>\n<p><b>Background and Objective:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Japan\u2019s airline industry is facing the expansion of airports, deregulation of the airline industry, and increased competition in Asia.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">To optimal organizational structure for building a multi-brand strategy between the existing ANA brand and the new LCC brand.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Strengthens the Group\u2019s management<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Enable autonomous management of each of the Group\u2019s companies.<\/li>\n<\/ul>\n<p><b>Method: <\/b>Absorption-type company split where all shares of the Successor Company to be issued at the time of the Split will be allotted to the Company.<\/p>\n<p><b>Share Allocation:<\/b>1000 shares of common stock shall be issued by the Successor Company, with the shares allocated to the Company.<\/p>\n<p><b>Capital: <\/b>No change in the capital of the Company<\/p>","protected":false},"excerpt":{"rendered":"<p>ANA Holdings Inc. and its subsidiaries provide air transportation services in Japan and internationally. 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