Equity ratio of approximately 50% and maintenance of A− or higher credit ratings
First written in FY2020. 1 of 20 entries say "Softened", first in FY2026. Latest entry: 2026-11-02.
The whole theme swung hardest in 2023: 1 of 7 companies on the "Worse" side.
1 other company's latest entry also says "Achieved".
- FY2026SoftenedAnnual report
「To maintain a robust financial position, we will keep the equity ratio used for credit-rating purposes at approximately 45%, seek to obtain and maintain a credit rating of “Single-A flat” or higher from a Japanese credit rating agency, and strengthen our resilience to risk.」
The target equity ratio changed from approximately 50% to approximately 45%. Meanwhile, the actual ratio recovered to 40.2% at the end of March 2026, or 40.3% on a consolidated presentation basis, and the credit rating became stable. - FY2026-H1Equity ratio recovered but remained below targetAnnual report
「Equity attributable to owners of parent ratio (%) 33.2 39.5 34.9」
The equity attributable to owners of parent ratio recovered to 39.5% from 33.2% in the same period of the previous year and 34.9% at the end of the previous fiscal year, but remained below the target equity ratio of approximately 50%. - FY2025Equity ratio recovered but remained below targetAnnual report
「As of the end of March 2025, the equity ratio used for credit-rating purposes was 41.1% (Note 1) and the net D/E ratio was 0.0x (Note 2), enabling us to maintain a robust financial base at the highest level globally in the airline industry.」
The equity ratio used for credit-rating purposes recovered to 41.1%, but remained below the target of approximately 50%. The net D/E ratio was 0.0x. - FY2025-H1Decline in the equity ratio and failure to meet the targetAnnual report
「Equity attributable to owners of parent ratio (%) 33.3 33.2 34.3」
The equity attributable to owners of parent ratio declined to 33.2% at the end of the interim period from 34.3% at the end of the previous fiscal year. It remained below the target equity ratio of approximately 50%. - FY2024Equity ratio recovered but remained below targetAnnual report
「As of the end of March 2024, the equity ratio used for credit-rating purposes was 41.0% and the net D/E ratio was 0.0x, enabling us to maintain a robust financial base at the highest level globally in the airline industry.」
The equity ratio used for credit-rating purposes was 41.0% and the net D/E ratio was 0.0x. The financial base improved, but the target equity ratio of approximately 50% was not achieved. - FY2024-Q3Continued slight recovery in the equity ratioAnnual report
「Equity attributable to owners of parent ratio (%) 32.3 33.4 32.4」
The equity attributable to owners of parent ratio recovered slightly from 32.4% at the end of the previous consolidated fiscal year to 33.4%, but remained below the target equity ratio of approximately 50%. - FY2024-Q2Modest recovery in the equity ratioAnnual report
「Equity attributable to owners of parent ratio (%) 31.8 33.3 32.4」
The equity attributable to owners of parent ratio recovered slightly from 32.2% at the end of the first quarter to 33.3%, but remained below the target equity ratio of approximately 50%. - FY2024-Q1Continued slight decline in the equity ratioAnnual report
「Equity attributable to owners of parent ratio (%) 32.0 32.2 32.4」
The equity attributable to owners of parent ratio was 32.2% at the end of the first quarter, compared with 32.0% in the same period of the previous year and 32.4% at the end of the previous consolidated fiscal year, remaining below the target of approximately 50%. - FY2023-Q3Modest recovery in equity ratio but still below targetAnnual report
「Equity attributable to owners of parent ratio (%) 35.4 32.3 33.7」
The equity attributable to owners of parent ratio rose slightly to 32.3% at the end of the third quarter from 31.9% at the end of the previous quarter, but remained below the target equity ratio of approximately 50%. - FY2023-Q2Continued decline in the equity ratioAnnual report
「Equity attributable to owners of parent ratio (%) 39.3 31.9 33.7」
The equity attributable to owners of parent ratio was 31.9% at the end of the second quarter, compared with 39.3% in the same period of the previous year and 33.7% at the end of the previous consolidated fiscal year. It remained below the target equity ratio of approximately 50%. - FY2023-Q1Continued decline in the equity ratioAnnual report
「Equity attributable to owners of parent ratio (%) 42.4 32.0 33.7」
The equity attributable to owners of parent ratio declined from 33.7% at the end of the previous consolidated fiscal year to 32.0% at the end of June 2022, remaining below the target equity ratio of approximately 50%. - FY2022Further decline in the equity ratioAnnual report
「As of the end of March 2022, the equity ratio used for credit-rating purposes was 41.1% and the net D/E ratio was 0.3x, enabling us to maintain a robust financial base at the highest level globally in the airline industry.」
The equity ratio declined from 45.0% at the end of the previous fiscal year to 41.1%, remaining below the target of approximately 50%. - FY2022-Q3Continued decline in the equity ratioAnnual report
「Equity attributable to owners of parent ratio (%) 47.6 35.4 45.0」
The equity attributable to owners of parent ratio declined from 47.6% in the same period of the previous year and 45.0% at the end of the previous consolidated fiscal year to 35.4%, remaining below the target equity ratio of approximately 50%. - FY2022-Q2Continued decline in the equity ratioAnnual report
「Equity attributable to owners of parent ratio (%) 43.6 39.3 45.0」
The equity attributable to owners of parent ratio declined from 43.6% in the same period of the previous year and 45.0% at the end of the previous consolidated fiscal year to 39.3%, remaining below the target of approximately 50%. - FY2022-Q1Decline in the equity ratioAnnual report
「Equity attributable to owners of parent ratio (%) 45.9 42.4 45.0」
The equity attributable to owners of parent ratio declined from 45.9% in the same period of the previous year and 45.0% at the end of the previous consolidated fiscal year to 42.4% at the end of the first quarter, below the target of an equity ratio of approximately 50%. - FY2021Disclosure of an equity ratio of 45.0% and a D/E ratio of 0.5xAnnual report
「As of the end of March 2021, the equity ratio was 45.0% and the D/E ratio was 0.5x, enabling us to maintain a robust financial base at the highest level globally in the airline industry.」
Against the target equity ratio of approximately 50%, we disclosed an equity ratio of 45.0% and a D/E ratio of 0.5x as of the end of March 2021. - FY2021-Q3Disclosure of the equity ratio and D/E ratioAnnual report
「As a result, the equity ratio was 47.6% and the D/E ratio was 0.5x, establishing a robust financial base at the highest level globally in the airline industry.」
As a result of the public offering and other measures, we disclosed an equity ratio of 47.6% and a D/E ratio of 0.5x, indicating the status of our financial base. - FY2020First statedAnnual report
「We will maintain the equity ratio at approximately 50% under International Financial Reporting Standards (IFRS), seek to obtain and maintain a credit rating of “Single-A flat” or higher from a Japanese credit rating agency, and strengthen our resilience to risk.」
As a new financial strategy target, we specified the objective of obtaining and maintaining an equity ratio of approximately 50% and a credit rating of Single-A flat or higher.