Worth reading
57In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
800
%Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedNet SalesNot disclosed → ¥1,690 100 million (business revenue)
Operating profitNot disclosed → ¥140 hundred million
Only the target level is shown because the current level for comparison was not provided.Total investment planAmount Approximately ¥30.0 billion / Subject Business investment (growth investment), cumulative over 5 years
Investment amount by sectorField Equipment-related / Amount Not disclosed, Field Renewal investment to maintain safety / Amount Not disclosed, Field Improving productivity and strengthening competitiveness, including enhanced DX / Amount Not disclosed, Field Improving employee engagement / Amount Not disclosed, Field Strategic investment in human capital / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyA new dividend policy aimed at maintaining sustainable and stable dividends is under consideration. The new dividend policy is scheduled to apply from dividends for the fiscal year ending March 2027. Numerical targets: not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Strengthening earnings power
02Enhancing customer experience value
03Strengthen human capital
04Productivity and structural reform
05Executing the aircraft renewal plan
06Further enhancing revenue management to capture robust non-business demand, thereby raising unit prices
07Improving productivity and reforming the cost structure, including strict cost management
08Maintaining safety and quality: zero aircraft accidents and serious incidents, and maintaining the No. 1 on-time departure rate and customer satisfaction
09Improving fuel efficiency through the introduction of fuel-efficient new B737-8 aircraft and expanding operating scale as the fleet increases
10Developing efficient and highly profitable flight schedules through longer operating hours and increased takeoff and landing slots at each airport
11Diversifying business revenue other than passenger revenue
12Executing projects to pursue and expand the use of UAVs, and enhancing customer experience value and reducing staffing through airport DX
13Introducing fuel surcharges
14Launching a new PSS (passenger service system)
15Considering the operation of international scheduled flights
16Reallocation of Haneda Airport takeoff and landing slots
Plan assumptionsItem Foreign Exchange / Assumptions ¥155/US$ in FY2026; ¥150/US$ from FY2027 onward, Item Dubai crude oil / Assumptions US$75/barrel
Non-financial targetsIndicator name Replacing aviation fuel consumption with SAF / Target value 10% / Timing 2030, Indicator name Achieving carbon neutrality / Target value Achieving carbon neutrality / Timing 2050, Indicator name Aircraft accidents and serious incidents / Target value ゼロ / Timing Not disclosed, Indicator name On-time departure rate and customer satisfaction / Target value Maintain No. 1 position / Timing Not disclosed
Size of the Target MarketMarket Japan domestic airline market / Dimensions Available seats: 118 million / As of As of May 2026 / Source OAG Top 10 Biggest Domestic Markets Seats (May-2026)
Risks identified by the company
Difficulty executing the business plan due to a reduction in or failure to secure takeoff and landing slots at congested airports, including Haneda Airport
Higher aviation fuel costs due to a sharp rise in crude oil prices
Higher costs due to continued yen depreciation
Continued inflation
A restraint on some consumer activity, particularly a decline in discretionary spending
Higher interest expense on borrowings and rising funding costs
A substantial decline in profitability if the Company is unable to pass through higher costs due to a lack of progress in price pass-through
Lower earning power due to excessive competition among airlines to acquire customers
An impact on passenger demand due to some passengers refraining from travel
Potential changes in the business environment resulting from the formulation of new systems based on discussions by expert panels
An impact on flight operations due to staff shortages
Higher personnel expenses due to wage increases
Disruption due to delays in aircraft deliveries and retirements, and higher costs associated with adjusting capacity
Stagnation in the funding cycle
A delay in the introduction of 737-10 aircraft due to delays in type certification
Higher foreign-currency-denominated expenses due to exchange-rate fluctuations
Reason for revision or withdrawal
The Company aims to achieve its targets by strengthening its business foundation, further advancing ongoing initiatives, and steadily realizing their effects. Operating cash flow has decreased from the previous publication due to updates to the underlying market conditions and other factors.
| Item | Details |
|---|---|
| Plan name | Materials on Business Plans and Growth Potential |
| Plan period | FY2026〜FY2030 |
| Progress against the plan | Partially revised |
| Sales Target | Not disclosed → ¥1,690 100 million (business revenue) |
| Operating profit target | Not disclosed → ¥140 hundred million |
| Payout ratio / DOE policy | A new dividend policy aimed at maintaining sustainable and stable dividends is under consideration. The new dividend policy is scheduled to apply from dividends for the fiscal year ending March 2027. Numerical targets: not disclosed. |
| Total investment plan | Amount Approximately ¥30.0 billion / Subject Business investment (growth investment), cumulative over 5 years |
| Investment amount by sector | Field Equipment-related / Amount Not disclosed, Field Renewal investment to maintain safety / Amount Not disclosed, Field Improving productivity and strengthening competitiveness, including enhanced DX / Amount Not disclosed, Field Improving employee engagement / Amount Not disclosed, Field Strategic investment in human capital / Amount Not disclosed |
| Non-financial targets | Indicator name Replacing aviation fuel consumption with SAF / Target value 10% / Timing 2030, Indicator name Achieving carbon neutrality / Target value Achieving carbon neutrality / Timing 2050, Indicator name Aircraft accidents and serious incidents / Target value ゼロ / Timing Not disclosed, Indicator name On-time departure rate and customer satisfaction / Target value Maintain No. 1 position / Timing Not disclosed |
| Plan assumptions | Item Foreign Exchange / Assumptions ¥155/US$ in FY2026; ¥150/US$ from FY2027 onward, Item Dubai crude oil / Assumptions US$75/barrel |
| Key initiatives | Strengthening earnings power, Enhancing customer experience value, Strengthen human capital, Productivity and structural reform, Executing the aircraft renewal plan, Further enhancing revenue management to capture robust non-business demand, thereby raising unit prices, Improving productivity and reforming the cost structure, including strict cost management, Maintaining safety and quality: zero aircraft accidents and serious incidents, and maintaining the No. 1 on-time departure rate and customer satisfaction, Improving fuel efficiency through the introduction of fuel-efficient new B737-8 aircraft and expanding operating scale as the fleet increases, Developing efficient and highly profitable flight schedules through longer operating hours and increased takeoff and landing slots at each airport, Diversifying business revenue other than passenger revenue, Executing projects to pursue and expand the use of UAVs, and enhancing customer experience value and reducing staffing through airport DX, Introducing fuel surcharges, Launching a new PSS (passenger service system), Considering the operation of international scheduled flights, Reallocation of Haneda Airport takeoff and landing slots |
| Reason for revision or withdrawal | The Company aims to achieve its targets by strengthening its business foundation, further advancing ongoing initiatives, and steadily realizing their effects. Operating cash flow has decreased from the previous publication due to updates to the underlying market conditions and other factors. |
| Size of the Target Market | Market Japan domestic airline market / Dimensions Available seats: 118 million / As of As of May 2026 / Source OAG Top 10 Biggest Domestic Markets Seats (May-2026) |
| Risks identified | Difficulty executing the business plan due to a reduction in or failure to secure takeoff and landing slots at congested airports, including Haneda Airport, Higher aviation fuel costs due to a sharp rise in crude oil prices, Higher costs due to continued yen depreciation, Continued inflation, A restraint on some consumer activity, particularly a decline in discretionary spending, Higher interest expense on borrowings and rising funding costs, A substantial decline in profitability if the Company is unable to pass through higher costs due to a lack of progress in price pass-through, Lower earning power due to excessive competition among airlines to acquire customers, An impact on passenger demand due to some passengers refraining from travel, Potential changes in the business environment resulting from the formulation of new systems based on discussions by expert panels, An impact on flight operations due to staff shortages, Higher personnel expenses due to wage increases, Disruption due to delays in aircraft deliveries and retirements, and higher costs associated with adjusting capacity, Stagnation in the funding cycle, A delay in the introduction of 737-10 aircraft due to delays in type certification, Higher foreign-currency-denominated expenses due to exchange-rate fluctuations |
| Publication date | 18 June 2026 |
Items this document does not state (10)
Operating profit margin targetNet income targetROE targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceSegment targetResults under the previous planDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The Company aims to achieve its targets by strengthening its business foundation, further advancing ongoing initiatives, and steadily realizing their effects. It also states that operating cash flow has decreased from the previous publication due to updates to the underlying market conditions and other factors.
How to read this page
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