Dependence on Specific Companies, Including ANA
First written in FY2016. 10 of 27 entries say "Mitigated", first in FY2022-Q2. Latest entry: FY2026.
Star Flyer moved to the "Worse" side of this theme in 2025, 5 years after the typical company in this theme (2020).
The whole theme swung hardest in 2025: 12 of 25 companies on the "Worse" side.
8 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「All Nippon Airways Co., Ltd. 16,124 37.6 17,468 39.0」
While code-sharing and other arrangements with ANA continued, the ratio of sales to ANA rose from 37.6% in the previous fiscal year to 39.0%, slightly increasing dependence on a specific company in terms of sales. - 2026-04-30WorsenedEarnings
「All Nippon Airways Co., Ltd. 16,124 37.6 17,468 39.0」
Sales to ANA increased, and their share of total sales also rose from 37.6% to 39.0%. Dependence on a specific company on the sales side increased slightly. - FY2026-H1WorsenedAnnual report
「All Nippon Airways Co., Ltd. 7,997 38.3 8,650 40.3」
The ratio of sales to ANA rose from 38.3% in the same period of the previous year to 40.3%, slightly increasing dependence on a specific company in terms of sales. The code-sharing relationship has continued. - FY2025-H1MitigatedAnnual report
「All Nippon Airways Co., Ltd. 7,333 38.6 7,997 38.3」
Sales through code-sharing with ANA have continued, but the ratio of sales to ANA to total sales edged down from 38.6% in the same period of the previous year to 38.3%. Dependence on a specific company in terms of sales continued to decline. - FY2024-Q3MitigatedAnnual report
「All Nippon Airways Co., Ltd. 10,196 43.6 11,052 37.3」
The ratio of sales to ANA declined from 43.6% to 37.3%, further reducing dependence on a specific company in terms of sales. However, it still accounted for more than 30% of total sales. - FY2024-Q2MitigatedAnnual report
「All Nippon Airways Co., Ltd. 6,677 45.3 7,333 38.6」
The ratio of sales to ANA declined from 45.3% to 38.6%, further reducing dependence on a specific company in terms of sales. However, it still accounted for approximately 40%. - FY2024-Q1MitigatedAnnual report
「All Nippon Airways Co., Ltd. 3,265 48.1 3,664 41.4」
The ratio of sales to ANA declined from 48.1% in the same period of the previous year to 41.4%, reducing dependence on a specific company in terms of sales. However, it still accounted for more than 40% of total sales. - FY2023MitigatedAnnual report
「All Nippon Airways Co., Ltd. 10,498 49.7 13,625 42.2」
The ratio of sales to ANA declined from 49.7% in the previous fiscal year to 42.2%, further reducing dependence on a specific company in terms of sales. However, the ratio remained high. - FY2023-Q3MitigatedAnnual report
「All Nippon Airways Co., Ltd. 7,799 50.7 10,196 43.6」
The ratio of sales to ANA declined from 50.7% in the same period of the previous year to 43.6%, further reducing dependence on a specific company in terms of sales. However, the ratio remained high. - FY2023-Q2Lower ratio of sales to ANA and loss of status as an other affiliated companyAnnual report
「In addition, during the cumulative second quarter, the total number of voting rights increased as a result of the exercise of stock acquisition rights on 28 June and 15 September. As ANA HOLDINGS INC.'s voting rights ownership ratio became 14.67%, it ceased to be our other affiliated company.」
The increase in total voting rights resulting from the exercise of stock acquisition rights reduced ANA HOLDINGS INC.'s voting rights ownership ratio to 14.67%, and it ceased to be an other affiliated company. The ratio of sales to ANA also declined to 45.3%. - FY2023-Q1MitigatedAnnual report
「All Nippon Airways Co., Ltd. 2,476 58.6 3,265 48.1」
The ratio of sales to ANA declined from 58.6% in the same period of the previous year to 48.1%, reducing dependence on a specific company in terms of sales. However, it still accounted for approximately half of total sales. - FY2022MitigatedAnnual report
「All Nippon Airways Co., Ltd. 10,829 59.2 10,498 49.7」
The ratio of sales to ANA declined from 59.2% to 49.7%, reducing dependence on a specific company in terms of sales. However, it still accounted for approximately half of total sales. - FY2022-Q3MitigatedAnnual report
「All Nippon Airways Co., Ltd. 8,156 58.8 7,799 50.7」
Sales to ANA as a percentage of total sales declined from 58.8% in the same period of the previous year to 50.7%, reducing dependence on a specific company in terms of sales. However, the ratio still exceeded half of total sales. - FY2022-Q2MitigatedAnnual report
「All Nippon Airways Co., Ltd. 5,027 64.0 5,160 56.4」
Sales through code-sharing with ANA have continued, but sales to ANA as a percentage of total sales declined from 64.0% in the same period of the previous year to 56.4%. However, dependence in terms of sales remains high. - FY2021WorsenedAnnual report
「As described above, we depend on a specific company in our air transportation business. If circumstances arise requiring the termination of the alliance or agreements, this could significantly affect our operations.」
We have continued to disclose our dependence on ANA for code-sharing, systems, settlement, handling and aircraft leasing, among other areas, and the ratio of sales to ANA rose to 59.2%. - FY2021-Q3Continued high dependence on sales to ANAAnnual report
「All Nippon Airways Co., Ltd. 9,539 30.7 8,156 58.8」
Sales to ANA accounted for 58.8% of total sales, substantially above the 30.7% recorded in the same period of the previous year. Although this was down from 64.0% in the second quarter, dependence remained high. - FY2021-Q2Continued high dependence on sales to ANAAnnual report
「Sales by major customer and the proportion of such sales to total sales are as follows. The transactions consisted of seat sales and cargo transportation under the codeshare arrangement. All Nippon Airways Co., Ltd. 6,082 30.0 5,027 64.0」
Code-sharing transactions with ANA have continued. Sales to ANA accounted for 64.0% of total sales, a high level above the 30.0% recorded in the same period of the previous year. - FY2021-Q1WorsenedAnnual report
「All Nippon Airways Co., Ltd. 3,046 31.5 2,228 70.0」
Sales through code-sharing with ANA continued, but sales to ANA as a percentage of total sales rose from 31.5% in the same period of the previous year to 70.0%, increasing dependence on a specific company in terms of sales. - FY2020-Q3RestatedAnnual report
「All Nippon Airways Co., Ltd. 9,266 31.1 9,539 30.7」
Sales through code-sharing with ANA continued, with sales totaling ¥9,539 million for the cumulative third quarter and accounting for 30.7% of total sales. - FY2020-Q2RestatedAnnual report
「All Nippon Airways Co., Ltd. 6,249 32.0 6,082 30.0」
Sales through code-sharing with All Nippon Airways continued, with sales totaling ¥6,082 million for the cumulative second quarter and accounting for 30.0% of total sales. - FY2019-Q3RestatedAnnual report
「All Nippon Airways Co., Ltd. 9,080 31.6 9,266 31.1」
Sales through code-sharing with ANA continued, with sales totaling ¥9,266 million for the cumulative third quarter and accounting for 31.1% of total sales. - FY2019-Q2RestatedAnnual report
「The transactions consisted of seat sales and cargo transportation under the codeshare arrangement. All Nippon Airways Co., Ltd. 6,035 31.8 6,249 32.0」
Dependence on sales through code-sharing with ANA continued, with sales to ANA totaling ¥6,249 million for the cumulative second quarter and accounting for 32.0% of total sales. - FY2018-Q2RestatedAnnual report
「All Nippon Airways Co., Ltd. 5,519,418 32.8 6,035,433 31.8」
Sales through code-sharing with ANA continued, with sales to ANA totaling ¥6,035 million for the cumulative second quarter and accounting for 31.8% of total sales. - FY2017Further details on dependence on a specific companyAnnual report
「In addition, ANA HOLDINGS INC. is our largest shareholder, has seconded officers to us, and has entered into lease agreements with us. We have also entered into an aircraft maintenance agreement with Lufthansa Technik AG for our maintenance operations.」
We provided detailed disclosure of our dependence on ANA, including code-sharing, sales and information systems, handling and aircraft leasing, with ANA HOLDINGS INC. identified as our largest shareholder and the source of seconded officers, and Lufthansa Technik AG as our aircraft maintenance contract provider. - FY2017-Q3ANAからの航空機材受領Annual report
「In December 2016, we took delivery of one aircraft under a lease agreement.」
The lease agreement for one aircraft with ANA HOLDINGS INC. as the counterparty progressed from the planning stage to the delivery stage. - FY2017-Q2特定会社との航空機材リース関係を追加開示Annual report
「In September, the Company entered into a letter of intent with ANA HOLDINGS INC. regarding the lease of aircraft as fixed assets, and plans to introduce 1 new aircraft in December.」
特定会社への依存に関連して、ANAホールディングスとの航空機材リースに関するLOI締結を新たに開示した。 - FY2016First statedAnnual report
「The Company depends on specific companies, having entered into an aircraft maintenance agreement with Lufthansa Technik AG for its maintenance structure and aircraft leasing agreements with GE Group companies and others for aircraft procurement.」
In addition to its sales, systems and code-sharing relationship with ANA, the Company discloses dependence on maintenance and leasing companies.