ANA Holdings Inc. · 2013. 5. 2. · P.20 P.21-25 P.26-28 ... （Dom/Int’l ↓） Decline ... Fiscal 2013-15 Corporate Strategic PivotFiscal 2013-15 Corporate Strategic Pivot Promote

©ANA2013 1

ANA Holdings Inc.・FY2013-15 ANA Group Corporate Strategy・Financial Results FY2012 ended March 31, 2013

April 30, 2013

Shinichiro ItoPresident and CEO

Kiyoshi TonomotoSenior Executive Vice President

and CFO

©ANA2013 2

Contents

Fiscal 2013-2015 Corporate Plan SchemeFY2013 Earnings Forecast (vs. Initial Plan)Fiscal 2013-15 Corporate Strategic PivotStrategic investments in AsiaDirection of Business PortfolioProgress with Cost RestructuringOverview of Value Creation Goals

P.4-5P.6P.7P.8P.9P.10P.11

P.40

P.41

P.42

P.43

P.44P.45

Fuel and Exchange RateForeign Currency Sensitivity(Impact due to due to the the yen depreciation in FY2013)yen depreciation in FY2013)Impact of Foreign Exchange Ratesin FY2012International Passengers Resultsby DestinationInternational Cargo Resultsby DestinationAircraft in Service

Ⅰ. FY2013-15ANA Group Corporate Strategy Consolidated Earnings Forecast

Earnings Forecast by SegmentAir Transportation Business

Operating Revenues and ExpensesChange in Operating Income

Earnings Forecast AssumptionsConsolidated Balance Sheet (Estimate)Consolidated Cash Flow (Estimate)

P.31P.32

P.33P.34P.35-36P.37P.38

Highlights FY2012Consolidated Financial Summary

Income StatementsConsolidated Financial PositionConsolidated Statements of Cash FlowResults by Segment

Air Transportation BusinessOperating Revenues and ExpensesChanges in Operating IncomePassenger OperationsCargo Operations

P.13

P.14P.15P.16P.17

P.19P.20P.21-25P.26-28

Ⅱ. FY2012 Financial Results 《Details》

Ⅲ. FY2013 Earnings Forecast 《Details》

Ⅳ. Supplemental Reference

©ANA2013 3

Ⅰ. FY2013-15 ANA Group Corporate Strategy

©ANA2013

Improve management speed and promote strategy Improve management speed and promote strategy that supports mediumthat supports medium-- to longto long--term and sustainable growthterm and sustainable growth

Fiscal 2013-2015 Corporate Plan SchemeFiscal 2013-2015 Corporate Plan Scheme

2012 2013 2014 2015

Schemeof Current

Corporate Plan

Create growthCreate growthstrategy foundation strategy foundation ImproveImprove

financial statusfinancial status

《 Fiscal 2013-2015 Corporate Plan 》

Fiscal 2012-13 Corporate PlanPhasePhaseⅠⅠCurrent

Time Span PhasePhaseⅡⅡ Corporate Plan for next period

Expansion of business segments aimed at creatingExpansion of business segments aimed at creatingnew revenue platformsnew revenue platformsPublic OfferingPublic Offering

Toward otherToward othergrowth sectorsgrowth sectors

-Use characteristics and know-how to break into new sectors -Offer and expand existing services outside the group -Strategic investments in Asia

Continue driving strategic pivots outlined in 2012Continue driving strategic pivots outlined in 2012--13 Corporate Plan13 Corporate Plan⇒Achievement of medium-term value creation goals

as attainable target for plan time span.

Group Reorganization （Transition to holding company system, April 2013) ）Group ReorganizationGroup Reorganization （Transition to holding company system, April 2013) ）

Multi-brand strategy (March 2012 Peach / August AirAsia Japan）MultiMulti--brand strategybrand strategy (March 2012 Peach / August AirAsia Japan）

Cost restructuring / Reduce unit costs by ¥1 (FY2011-14)CCost ost rerestructurstructuringing / / RReduce unit costs by educe unit costs by ¥¥11 (FY2011-14)

4

©ANA2013

Gradually draft detailed 3Gradually draft detailed 3--year profit plan based on the 787 delivery plan and adaptation fyear profit plan based on the 787 delivery plan and adaptation for or Tokyo Metropolitan area airport expansion of slotsTokyo Metropolitan area airport expansion of slots

787 delivery schedule787 delivery scheduleSlots allocation to international Slots allocation to international

flights to/from flights to/from HanedaHaneda & Narita& Narita

Haneda: From 2014 summer schedule Narita: From 2015 summer schedule

vs. FY12Full Yearvs. FY11Full Year

-

＋2.29

+11.4

+14.9

+0.1%

+5.5

+6.8

+60.9

+72.0

4.004.00

13.5113.51

222727..77

43.143.1

7.7.00%%

9944..00

1103.803.8

1,1,323323..55

1,483.51,483.5

FY2012 Results

+21.7224949..55EBITDA

+1.84455..00Net Income

FY2013 Forecasts

Operating Revenues 1,1,610610..00 +126.4

Air Transportation Business 1,1,440440..00 +116.4

Operating Income 11110.00.0 +6.1

Air Transportation Business 99.099.0 +4.9

Operating Margin 6.86.8%% - 0.2%

Earnings per Share (¥) 1212..8282 - 0.69

Dividends per Share (¥) 4.004.00 -

FY2014-2015

Operational clearance for the Operational clearance for the Boeing Boeing 787 and restart of deliveries have been787 and restart of deliveries have been delayedelayeddbbeyondeyond initial expectations and this has impacted the mediuminitial expectations and this has impacted the medium--termterm planplan⇒Limit to incorporating into the FY2013 plan only. Draft a new profit plan for FY2014 and beyond.

For FY2013, outline ASKFor FY2013, outline ASK/ATK/ATK and a profit plan based on the assumption ofand a profit plan based on the assumption ofoperationaloperational clearance for the clearance for the Boeing Boeing 787 787 inin JulyJuly⇒Achieve operating income of ¥110 billion to mark new profit highs and sustain dividends of ¥4.

Background ofPlan Creation

FY 2013

Assume operational clearanceAssume operational clearancefor the 787 in Julyfor the 787 in JulyDomestic ASK +4.5% yoyInternational ASK +13.8% yoyInternational ATK +14.6% yoy

（¥ billion）

5

Fiscal 2013-2015 Corporate Plan SchemeFiscal 2013-2015 Corporate Plan Scheme

《 Fiscal 2013-2015 Corporate Plan 》

©ANA2013

Work in elements such as 787 operational Work in elements such as 787 operational suspensionsuspension, , JPY depreciationJPY depreciation, and risk, and riskss related to demand related to demand for China routes while also projecting increase in demand due tofor China routes while also projecting increase in demand due to upturn in business confidencupturn in business confidencee

FY2013 Earnings Forecast (vs. Initial Plan)FY2013 Earnings Forecast (vs. Initial Plan)

- 0.5

（¥ billion）

20122012--13 Plan13 Plan（（17/Feb/201217/Feb/2012））

Op. IncomeOp. Income

Earnings Earnings ForecastForecast

（（30/Apr/201330/Apr/2013））Op. IncomeOp. Income

DomesticPassengers

- 8.0

Air TransportationRevenues（+ 10.0）

Operating RevenuesOperating Revenues11,,610610..00（（+ 50.0+ 50.0））

+ 2.0

Others+ 29.0

Fuel &Fuel Tax

+35.5

Air Transportation Expenses（+ 33.0）

Demand ForecastUpdate

Demand Trend（Dom/Int’l↓）Decline demand

in China （Int’l↓）Upturn in business

confidence for 2H （Dom/Int’l↑）

Demand ForecastDemand ForecastUpdate Update

Demand Trend（Dom/Int’l↓）Decline demand

in China （Int’l↓）Upturn in business

confidence for 2H （Dom/Int’l↑）

Revision ofexchange rate

Op. Income basis:- 13.5

（Overseas Revenues↑）（Fuel Expenses↓)

Revision ofRevision ofexchange rate exchange rate

Op. Income basis:- 13.5

（Overseas Revenues↑）（Fuel Expenses↓)

- 2.5

B787 AOG*Apr-Jun: - 9.0（Passengers & Cargo）

B787B787 AOG*AOG*Apr-Jun: - 9.0（Passengers & Cargo）

Others

Operating ExpensesOperating Expenses11,,50500.0.00（（+ 70.0+ 70.0））

LCC- 12.5

Cargo & Mail

InternationalPassengers

Operating Income 110.0（- 20.0）

Travel +15.0Other +12.0Adjustment +13.0

+40.0

Mileage revenue Handling revenueFuel sales for partners

6

Consolidated130.0

AirTransportation

122.0

Consolidated110.0

AirTransportation

99.0

（* Aircraft on the ground）

©ANA2013

Fiscal 2013-15 Corporate Strategic PivotFiscal 2013-15 Corporate Strategic Pivot

Promote sustained, Promote sustained, consistent consistent corporate plan while developing growth & expansion plancorporate plan while developing growth & expansion plan

＆Fiscal 2012Fiscal 2012--13 Corporate Plan progress13 Corporate Plan progress

Progress with expansion and diversificationProgress with expansion and diversificationof business segmentsof business segments

Strategy for mediumStrategy for medium-- to longto long--term term and sustainable expansion and growthand sustainable expansion and growth

《《Strategy sustainability & Strategy sustainability & consistencyconsistency》》

Improve group strength underumbrella of a holding company Promote multi-brand strategy,

contribute to increased brandrecognition

Diversification of regions Japan base + Asia regions Diversification of business operations

Air transportation business + airline-related& other businessesStrategic Investments in Asia

Maturation, low growth, and stability of markets in Japan and other industrial nationsStrong growth of economies

in Asia and prospects forderegulations

MultiMulti--brand strategybrand strategy

Group Group ReorganizationReorganization

Cost RestructuringCost Restructuring

《《Transition to holding company systemTransition to holding company system 》》Promote independent and efficient management, improve group

strength through optimal distribution of corporate resources

《《FSCFSC（（Full Service CarrierFull Service Carrier））businessbusiness》》Use the expansion of slots for Haneda and Narita

as an opportunity to expand international route networkEnsure superiority of domestic route business infrastructure

(including strengthening partnerships with new airlines)

《《LCCLCC（（LowLow CostCost CarrierCarrier））businessbusiness》》Increase compatibility with the Japanese market while

pursuing a low-cost structure to establish a lucrative model

《《Reduce unit costs by Reduce unit costs by ¥¥1 1 ((¥¥100 billion in cost reductions)100 billion in cost reductions) 》》

Improve tolerance for top line volatility risks Improve probability for achievement of medium- to long-term

value creation goals

7

《《Assumed environment awarenessAssumed environment awareness 》》

《《Expand business segments to secure Expand business segments to secure growth opportunitiesgrowth opportunities 》》

©ANA2013

Implementation phase for strategic investments to capitalize on Implementation phase for strategic investments to capitalize on Asian growthAsian growth

Strategic investments in AsiaStrategic investments in Asia

Capital increasethrough public offering

(conducted in July 2012)

Capital increasethrough public offering

(conducted in July 2012)

Stable cash flow (record operating incomefor 2 consecutive years)

Stable cash flow (record operating incomefor 2 consecutive years)

Diversification of revenue domains through strategic investmentsDevelopment of growth segments aimed at further profit expansion

Investments in Asian air carriersand airline-related businesses

【Establish investment management company 】

Timing: June 2013 (planned) Location: Singapore Purpose: Acceleration and stable management

of investment projects

【【Establish investment management companyEstablish investment management company 】】

Timing: June 2013 (planned) Location: Singapore Purpose: Acceleration and stable management

of investment projects

FY2013: Draft detailed deployment plan FY2014: Gradual deployment

Strive to utilize ANA Group knowledge and personnel

FY2013: Draft detailed deployment plan FY2014: Gradual deployment

Strive to utilize ANA Group knowledge and personnel

Participation in domestic and Asianairline business support projectsMutual

Synergy

Business portfolio managementto maximize revenue for the ANA Group

Possible to both improve financial structureand conduct strategic investments

Possible to both improve financial structureand conduct strategic investments

8

©ANA2013

OrientationOrientation of multiof multi--brand, diversified strategy brand, diversified strategy to contribute to income growth and increased corporate valueto contribute to income growth and increased corporate value

Direction of Business PortfolioDirection of Business Portfolio

【DomesticPassengers Operation】

Pursue distinction from competitors Firmly maintain

profitability as the group's core business

【International Passengers Operation】

Strategic network expansionAggressively secure global demand

【CargoOperation】

Expand routes Promote distinction from

competitorsImprove added value

【LCCBusiness】

Create new demandin sectors that differfrom ANA

Build a lucrativebusiness model

【Diversification 】

Expand external revenue through opportunities created by transition to a holding company system Realization of efficient corporate management and

expanded revenue

Business portfolio that improves

corporate valuefor the ANA group

(Income contribution image)

Business portfolio that improves

corporate valuefor the ANA group

(Income contribution image)

9

【Strategic investments in Asia 】Asian market initiative / Secure growth sectors

Expanded investments to achieve business diversification

【Strategic investments in Asia 】Asian market initiative / Secure growth sectors

Expanded investments to achieve business diversification

©ANA2013

Ensuring progression of cost restructuring will increase the proEnsuring progression of cost restructuring will increase the probabilitybabilityof achieving mediumof achieving medium--term income goalsterm income goals

Progress with Cost RestructuringProgress with Cost Restructuring

Air Transportation Op. Revenues （Passengers) : Total of Air Transportation Op. Revenues ‐（Cargo & Mail / Others Revenue）Air Transportation Op. Expenses （Passengers) : Total of Air Transportation Op. Expenses ‐（Cargo & Mail / Others Revenue）Unit Revenues : Air Transportation Op. Revenues （Passengers) / total of domestic ASK and international ASKUnit Cost : Air Transportation Op. Expenses （Passengers) / total of domestic ASK and international ASK

10.83

■ Dom ASK + Int’l ASK◆ Air Transportation Op. Revenues

（Passengers)▲ Air Transportation Op. Expenses

（Passengers)

(FY11 Initial Plan=100）(Including AirAsia Japan)

Unit Revenue

Unit Cost（Diff. vs. Standard）

Unit Profit

(¥)

10.6610.47

10.09

9.69(-0.40） 9.50

(-0.59）

FY11（Initial Plan）

FY11A FY12A FY13E FY14

Reduce unit costsby ¥1

(¥100 billionin cost reductions)

Reduce unit costsReduce unit costsby by ¥¥1 1

((¥¥100 billion100 billionin cost reductions)in cost reductions)

FY15

2013-15Corporate Plan

-¥11bil -¥21bil -¥25bil -¥43bil

StandardFiscal YearStandard

Fiscal Year

100.198.5

96.1

106.7103.2

100.5

0.970.97

《《Unit revenues/Unit revenues/UUnit costs nit costs TTransitionransition 》》

(-1.00)

0.74

115.4111.6

109.0

9.53(-0.56）

10.470.94

100.0

10

©ANA2013

Place mediumPlace medium--term value creation goals within range of goals for FY2015term value creation goals within range of goals for FY2015

Overview of Value Creation GoalsOverview of Value Creation Goals

0.0

2.0

4.0

6.0

8.0

10.0

0

50

100

150

200

250

FY11A FY12A FY15

ROE: 9～10%

ROA: 7～8%

Op. IncomeTarget150.0103.8

(7.0%)97.0

(6.9%)2013-15

CorporatePlan

5.3%

6.6%

5.1%

5.1%

Op. Income(¥billion）

ROA・ROE(％）

Medium-term Value Creation GoalsMediumMedium--term term VValue alue CCreation reation GGoalsoals

Consolidated Op. Income：Consolidated Op. Margin：ROA（Op. Return on Assets）：ROE（Return on Equity）：

¥150bil ~10% ~8% ~

10% ~

FY13E

110.0(6.8%)

《《Monitoring indicesMonitoring indices 》》

◆Earnings per Share◆Interest-Bearing Debt/EBITDA

FY10A

4.7%

3.7%

67.8(5.0%)

5.8%

5.3%

11

©ANA2013 12

Ⅱ. FY2012 Financial Results 《Details》

©ANA2013

-40.0

-20.0

0.0

20.0

40.0

60.0

80.0

100.0

120.0

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

Op. Income Net IncomeEBITDA

13

Highlight FY2012

(¥ Billion)

FY2011 FY2012

Highlights ofHighlights of Financial Results FY12Financial Results FY12 1Q1Q--4Q and FY11 1Q4Q and FY11 1Q--4Q4Q

Consolidated cumulative operating income for fiscal year posted 103.8 billion yen(6.8 billion yen year-on-year increase).

43.1 billion yen net income for the fiscal year (14.9 billion yen year-on-year increase);EBITDA of 227.7 billion yen (11.4 billion yen year-on-year increase).

4th Quarter （January - March）Op. Income -3.6 billion yenNet Income -9.0 billion yenEBITDA 28.7 billion yen

©ANA2013 14(¥ Billion)

Consolidated Financial Summary

DifferenceFY12FY11

Operating Revenues 1,411.5 1,483.5 + 72.0 351.4 + 9.7Operating Expenses 1,314.4 1,379.7 + 65.2 355.1 + 19.3Operating Income 97.0 103.8 + 6.8 - 3.6 - 9.5Op. Margin (%) 6.9 7.0 + 0.1 - -Non-Op. Gains/Losses - 28.5 - 26.8 + 1.7 - 8.4 + 0.4Recurring Income 68.4 76.9 + 8.5 - 12.1 - 9.1Extraordinary Gains/Losses - 5.0 - 6.0 - 1.0 - 5.3 + 0.1Net Income 28.1 43.1 + 14.9 - 9.0 - 3.4

Net Income Before Minority Interests 28.1 41.8 + 13.6 - 9.7 - 3.9

Other Comprehensive Income 4.9 8.8 + 3.9 11.4 - 14.4

Comprehensive Income 33.1 50.6 + 17.5 1.6 - 18.4

Difference4Q/FY12

Income StatementsIncome Statements

©ANA2013 15

(¥ Billion)


Mar 31, 2012 Mar 31, 2013 Difference

Assets 2,002.5 2,137.2 + 134.6

Shareholders' Equity 549.0 766.7 + 217.7

Ratio of Shareholders' Equity (%) 27.4 35.9 + 8.5

Interest Bearing Debts 963.6 897.1 - 66.5

Debt/Equity Ratio (times) * 1.8 1.2 - 0.6

Net Interest Bearing Debts ** 684.6 477.5 - 207.1

Consolidated Financial PositionConsolidated Financial Position

* D/E ratio when including off-balanced lease obligation of ¥ 136.8 billion (¥ 155.3 billion as of the end ofMarch, 2012) is 1.3 times (2.0 times as of the end of March, 2012)

** Net Interest Bearing Debts：

Interest Bearing Debts-（Liquid Assets（Cash on Hand and in Banks＋Marketable Securities））

©ANA2013 16


Cash Flow from Operating Activities 214.4 173.1 - 41.2

Cash Flow from Investing Activities - 166.3 - 333.7 - 167.4

Cash Flow from Financing Activities 16.1 84.5 + 68.3

Net Increase or Decrease 64.2 - 75.5 - 139.8

Cash and Cash Equivalent at the beginning 201.6 265.8- 74.5**

Cash and Cash Equivalent at the end 265.8 191.2

Depreciation and Amortization 119.2 123.9 + 4.6

Capital Expenditures 196.8 162.7 - 34.1

(¥ Billion)

FY11 FY12 Difference

Substantial Free Cash Flow (excluding periodic/negotiable deposits of more than 3 months) 52.0 54.2 + 2.2

EBITDA * 216.2 227.7 + 11.4

EBITDA Margin(％) 15.3 15.4 + 0.0

Consolidated Statements of Cash FlowConsolidated Statements of Cash Flow

* EBITDA: Op. Income + Depreciation** Includes effect on cash and cash equivalents with change of scope of consolidation

©ANA2013 17

(¥ Billion)


Air Transportation 1,262.5 1,323.5 + 60.9 312.7 + 7.7Travel Services 158.9 161.0 + 2.0 37.3 - 2.1

Total for Reporting Segments 1,421.5 1,484.5 + 62.9 350.0 + 5.5

Other 138.4 148.8 + 10.3 37.2 + 2.3Adjustment - 148.4 - 149.7 - 1.2 - 35.8 + 1.8Total 1,411.5 1,483.5 + 72.0 351.4 + 9.7Air Transportation 88.4 94.0 + 5.5 - 4.3 - 9.2Travel Services 3.9 4.4 + 0.5 0.1 - 0.0

Total for Reporting Segments 92.4 98.5 + 6.1 - 4.2 - 9.3

Other 4.1 5.4 + 1.2 0.6 + 0.0Adjustment 0.4 - 0.1 - 0.6 - 0.1 - 0.2Total 97.0 103.8 + 6.8 - 3.6 - 9.5

Revenues

Operating

Income

DifferenceFY12FY11 Difference4Q/FY12

Results by SegmentResults by Segment

©ANA2013

Intentionally Blank

18

©ANA2013 19(¥ Billion)

FY11

Domestic Passengers 651.5 665.9 + 14.4 149.8 - 4.3

International Passengers 320.0 348.3 + 28.2 83.3 + 5.2

Cargo and Mail 128.0 126.2 - 1.8 31.7 + 1.4

Others 162.8 182.9 + 20.0 47.7 + 5.4

Total 1,262.5 1,323.5 + 60.9 312.7 + 7.7Fuel and Fuel Tax 263.1 299.8 + 36.7 78.9 + 14.2

Landing and Navigation Fees 94.5 102.1 + 7.6 25.4 + 1.7

Aircraft Leasing Fees 67.1 70.1 + 3.0 17.3 + 0.1

Depreciation and Amortization 117.2 119.8 + 2.6 29.8 - 0.5

Aircraft Maintenance 45.7 45.4 - 0.3 12.4 + 0.0

Personnel 251.0 247.5 - 3.5 63.7 - 3.5

Sales Commission and Promotion 63.5 69.9 + 6.4 17.0 + 1.2

Contracts 86.3 87.8 + 1.4 23.1 + 1.5

Others 185.3 186.4 + 1.1 49.0 + 2.2

Total 1,174.0 1,229.4 + 55.3 317.1 + 17.0Operating Income 88.4 94.0 + 5.5 - 4.3 - 9.2

OperatingExpenses

OperatingRevenues

Op. Income

FY12 Difference

Air Transportation Business

4Q/FY12 DifferenceOperating Revenues and ExpensesOperating Revenues and Expenses

©ANA2013 20


FY11FY11Op. IncomeOp. Income


94.0+14.4

+28.2

- 1.8

+20.0

+36.7

+14.4

+5.9- 1.7

88.4

IncreaseIncreasein Profitin Profit

++55..55

RevenuesRevenues++6060..99

ExpensesExpenses++5555.3.3

Changes in Operating IncomeChanges in Operating Income

(¥ Billion）

DomesticDomesticPassengerPassenger

InternationalInternationalPassengerPassenger

CargoCargo& Mail& Mail

OtherOtherRevenueRevenue

・・Revenue from contractedRevenue from contractedMaintenance and HandlingMaintenance and Handling

・・Mileage/CardMileage/Card・・LCC Business, etc.LCC Business, etc.

Other ExpenseOther Expense

SalesSales--LinkedLinked

･･Commission, AdvertisementCommission, Advertisement･･InIn--flight serviceflight service･･Ground Handling, etc.Ground Handling, etc.

OperationOperation--LinkedLinked

･･Landing/Navigation FeesLanding/Navigation Fees･･DepreciationDepreciation･･PersonnelPersonnel･･Contracts, etc.Contracts, etc.

Fuel & Fuel TaxFuel & Fuel Tax

･･Depreciation except AircraftDepreciation except Aircraft･･Maintenance, etc.Maintenance, etc.

Progress ofCost Restructuring

Full YearTarget

Full YearResults

Productivity improvement 8.0 9.0

Enhanced efficiency in investments 1.0 1.0

New sales approach, Appropriate service cost 3.0 3.0

Reform indirect operations 7.0 8.0

Total 19.0 21.0

©ANA2013 21


FY11 FY12 % Y/Y

Available Seat Km (million) 56,756 58,508 + 3.1 13,947 - 0.6

Revenue Passenger Km (million) 34,589 36,333 + 5.0 8,487 + 0.8

Passengers (thousands) 39,020 41,089 + 5.3 9,520 + 0.6

Load Factor (%) 60.9 62.1 + 1.2* 60.9 + 0.9*

Passenger Revenues (¥ Billion) 651.5 665.9 + 2.2 149.8 - 2.8

Unit Revenue (¥/ASK) 11.5 11.4 - 0.8 10.7 - 2.2

Yield (¥/RPK) 18.8 18.3 - 2.7 17.7 - 3.6

Unit Price (¥/Passenger) 16,698 16,208 - 2.9 15,743 - 3.4

4Q/FY12 % Y/Y

*Difference※ The above data does not include AirAsia Japan. The company has carried 340 thousand passengers

over 599 million available seat-km and 382 million revenue passenger-km with a passenger load factor of 63.9%for the fiscal year.

Domestic Passenger OperationsDomestic Passenger Operations

©ANA2013 22


TrendsTrends in Domestic Passenger Operationsin Domestic Passenger Operations

FY2012 Cumulative Revenue Change Factors Though impacted by the B787 operation suspension, revenues in the fiscal

year increased due to passenger factors such as the demand recovery fromthe earthquake and the expansion of promotional fare.

651.5665.9

-18.5（-5.0）

+33.0（+1.0）

《Main Passenger Factors》Improvement Promotional Demand +9.5(+3.0) Competitors ASK Increase -9.0(-2.5)Demand Recovery from the earthquake

+29.5 (+1.5)B787 Operation Suspension -5.0(-5.0)Shareholder fare discounts +6.0 (+3.5)Others +2.0 (+0.5)

《Main Unit Price Factors》Promotional Fare -3.0 (-0.5)Demand Recovery Class Mix Decline -5.0 (-0.5)Shareholder fare discounts -9.0 (-4.5）Others -1.5 (+0.5)

FY11FY11 FY12FY12

(¥ Billion)

Quarterly Trends in Domestic Passengers by Segment, Unit Price

(Figures in parentheses represent results for 4Q only)

(Does not include AirAsia Japan)

Low-Season Strategy - Strategically incorporate promotiondemand to maintain passenger numbers from previous year

-30.0

-20.0

-10.0

0.0

10.0

20.0

30.0

40.0

50.0

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q70

80

90

100

110

120

130

140

150Unit Price (right axis)Total (left axis)Individual (left axis)Promotional Fares (left axis)Package/Travel (left axis)

0

FY11 FY12FY10

Passenger YoY (%) Unit Price（Index: FY10 1Q=100)

Quarterly Key Topics ： ANA has been recognized as world number one in two categories of 2012 On-time Performance Service Awards in

FlightStats (February 19 release) ANA has been awarded 5-Star rating, the highest ranking by the world’s leading airline and airport review site, SKYTRAX

(March 29 release)

©ANA2013 23


FY11 FY12 % Y/Y

Available Seat Km (million) 34,406 37,947 + 10.3 9,729 + 9.8

Revenue Passenger Km (million) 25,351 28,545 + 12.6 7,150 + 5.8

Passengers (thousands) 5,883 6,276 + 6.7 1,507 - 3.1

Load Factor (%) 73.7 75.2 + 1.5* 73.5 - 2.7*

Passenger Revenues (¥ Billion) 320.0 348.3 + 8.8 83.3 + 6.7

Unit Revenue (¥/ASK) 9.3 9.2 - 1.3 8.6 - 2.8

Yield (¥/RPK) 12.6 12.2 - 3.3 11.7 + 0.8

Unit Price (¥/Passenger) 54,403 55,495 + 2.0 55,307 + 10.0

4Q/FY12 % Y/Y

International Passenger OperationsInternational Passenger Operations

*Difference※ The above data does not include AirAsia Japan. The company has carried 60 thousand passengers

over 113 million available seat-km and 70 million revenue passenger-km with a passenger load factor of 61.9%for the fiscal year.

©ANA2013 24


FY2012 Cumulative Revenue Change FactorsThough impacted by Senkaku and Takeshima islands territorial dispute,

both unit price factors and passenger factors increased for the fiscalyear due to increased ASK and FSC

320.0

348.3+6.0（+8.5）

+22.5（-3.0）

FY11FY11 FY12FY12

《Main Passenger Factors》ASK Increase +15.0 (+3.5)、FSC +6.5 (+0.5)Demand Recovery from the earthquake

+14.5 (+0.5)B787 Operation Suspension -1.0 (-1.0)Senkaku/Takeshima impact -9.5 (-2.0)Demand Stimulation Measures -2.5(-3.0)Others -0.5 (-1.5)

《Main Unit Price Factors》Change in Passenger Class Mix -4.5 (+1.5)Change in fares policy and demand +1.0(+3.5)FSC +5.5 (+0.5)Others +4.0(+3.0)

(¥ Billion)

Quarterly ASK/ RPK/ Yield TrendsWhile impacted by the decline in passengers on China routes, RPK has

increased in line conjunction with ASK growth overall and yield isconsistent with levels from other periods.

Index: FY10 1Q=100

0

20

40

60

80

100

120

140

160

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

ASK RPK Yield

FY10 FY11 FY12

TrendsTrends in International Passenger Operationsin International Passenger Operations (Does not include AirAsia Japan)

Quarterly Key Topics ：From February: Fuel Surcharge Revised (December 17 release)

e.g.) for Europe, North America and Middle East: from ¥26,000 to ¥23,500

ANA has been named 2013 ‘Airline of the Year’ by Air Transport World (ATW), the leading monthly magazine coveringthe global airline industry (February 14 release)


©ANA2013 25


Trends in ASK/RPKof International Routes by DestinationPassenger Demand Trends on China Routes

Total Passenger numbers are down from the previousyear but business passenger volume is recovering toprevious year levels

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

Oct Nov Dec Jan Feb Mar

TotalBusinessPackage/Travel

Passenger YoY (%)

Excluding China routes, all destinations have secured RPK as high asASK, and overall performance is steady. In particular, North Americahave shown strong performance with double-digit increases in RPK

60.0

80.0

100.0

120.0

140.0

1Q 2Q 3Q 4Q

RPK ASK

60.0

80.0

100.0

120.0

140.0

1Q 2Q 3Q 4Q

RPK ASK

60.0

80.0

100.0

120.0

140.0

1Q 2Q 3Q 4Q

RPK ASK

60.0

80.0

100.0

120.0

140.0

1Q 2Q 3Q 4Q

RPK ASK

【North America】【Europe】

【China】【Asia】

YoY (%) YoY (%)

YoY (%) YoY (%)

TrendsTrends in International Passenger Operationsin International Passenger Operations

©ANA2013 26


Domestic Cargo

DomesticFreighter

【Included Above】

Available Ton Km (million) 1,805 1,905 + 5.5 438 - 2.9

Revenue Ton Km (million) 464 460 - 0.9 104 - 4.1

Revenue Ton (thousand tons) 467 463 - 0.8 104 - 4.6

Load Factor (%) 25.7 24.2 - 1.6* 23.7 - 0.3*

Cargo Revenues (¥ Billion) 33.2 32.2 - 3.1 7.2 - 6.0

Unit Revenue (¥/ATK) 18.4 16.9 - 8.1 16.6 - 3.2

Unit Price (¥/kg) 71 70 - 2.2 70 - 1.5

Available Ton Km (million) 29 29 - 0.1 7 - 10.6

Revenue Ton Km (million) 10 11 + 6.6 2 + 7.6

Revenue Ton (thousand tons) 10 10 + 1.1 2 + 6.2

Load Factor (%) 35.8 38.2 + 2.4* 37.5 + 6.3*

Cargo Revenues (¥ Billion) 1.3 1.2 - 9.6 0.2 - 12.8

Unit Revenue (¥/ATK) 45.9 41.5 - 9.5 40.5 - 2.6

Unit Price (¥/kg) 134 119 - 10.6 119 - 17.9

FY11 FY12 % Y/Y 4Q/FY12 % Y/YDomestic Cargo OperationsDomestic Cargo Operations

*Difference

©ANA2013 27


InternationalCargo

InternationalFreighter


Available Ton Km (million) 3,637 3,958 + 8.8 995 + 9.2

Revenue Ton Km (million) 2,239 2,469 + 10.3 639 + 10.6


Load Factor (%) 61.6 62.4 + 0.8* 64.2 + 0.8*

Cargo Revenues (¥ Billion) 87.9 86.5 - 1.6 22.4 + 7.8

Unit Revenue (¥/ATK) 24.2 21.9 - 9.6 22.6 - 1.2

Unit Price (¥/kg) 154 139 - 9.6 143 - 3.0

Available Ton Km (million) 829 852 + 2.8 202 + 1.0

Revenue Ton Km (million) 497 509 + 2.4 129 + 6.6


Load Factor (%) 60.0 59.8 - 0.2* 63.9 + 3.4*

Cargo Revenues (¥ Billion) 33.2 32.6 - 1.8 8.5 + 11.5

Unit Revenue (¥/ATK) 40.1 38.3 - 4.4 42.1 + 10.4

Unit Price (¥/kg) 119 113 - 5.0 118 + 2.4

FY11 FY12 % Y/Y 4Q/FY12 % Y/Y

*Difference

InternationalInternational Cargo OperationsCargo Operations

©ANA2013 28


FY2012 Cumulative Revenue Change FactorsNevertheless revenues in the fiscal year decreased due to unit price

factors, revenues in the fourth quarter increased due to weight factorssuch as increased ATK

87.986.5

-8.5（-0.5）+7.0（+2.0）

《Main Weight Factor》ATK Increase +5.0 (+1.0)Marketing Measures, etc.

+2.0 (+1.0)

《Main Unit Price Factor》Price Decrease Effects -9.0 (-0.5)FSC +0.5(0.0)

FY11FY11 FY12FY12

(¥ Billion)

※Cargo Only. Does not include postal mail

Cargo Volume and Unit Price TrendsWhile export/import cargo from/to Japan is stagnant, we secured

cargo volume for the fiscal year due to third country cargo and others.

-30.0

-20.0

-10.0

0.0

10.0

20.0

30.0

40.0

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

Outbound volume from Japan on ANA*Inbound volume to Japan on ANA*JAFA export/import [Reference]

-15.0

-10.0

-5.0

0.0

5.0

10.0

15.0

ANA Unit Price

Index: FY2010 1Q=100 *Include Third-Country Cargo

FY10 FY11 FY12

TrendsTrends in International Cargo Operationsin International Cargo Operations


Quarterly Key Topics：

From January: Fuel Surcharge Revised (December 17 release) e.g.) for Europe, North America and Middle East: from ¥141 to ¥134From February: Fuel Surcharge Revised (January 23 release) e.g.) for Europe, North America and Middle East: from ¥134 to ¥127From March: Fuel Surcharge Revised (February 20 release) e.g.) for Europe, North America and Middle East: from ¥127 to ¥134

©ANA2013 29

Ⅲ．FY2013 Earnings Forecast 《Details》

©ANA2013

Intentionally Blank

30

©ANA2013 31

FY2013 Earnings Forecast

DifferenceFY13（E）FY12

Operating Revenues 1,483.5 1,610.0 + 126.4

Operating Expenses 1,379.7 1,500.0 + 120.2

Operating Income 103.8 110.0 + 6.1

Op. Margin (%) 7.0 6.8 - 0.2

Recurring Income 76.9 80.0 + 3.0

Net Income 43.1 45.0 + 1.8

(¥ Billion)

Consolidated Earnings ForecastConsolidated Earnings Forecast

©ANA201332

(¥ Billion)


Air Transportation 1,323.5 1,440.0 + 116.4

Travel Services 161.0 170.0 + 8.9

Total for Reporting Segments 1,484.5 1,610.0 + 125.4

Other 148.8 153.0 + 4.1

Adjustment - 149.7 - 153.0 - 3.2

Total 1,483.5 1,610.0 + 126.4

Air Transportation 94.0 99.0 + 4.9

Travel Services 4.4 5.0 + 0.5

Total for Reporting Segments 98.5 104.0 + 5.4

Other 5.4 6.0 + 0.5

Adjustment - 0.1 0.0 + 0.1

Total 103.8 110.0 + 6.1

Revenues

Operating

Income

DifferenceFY13（E）FY12Earnings Forecast by SegmentEarnings Forecast by Segment

©ANA2013 33


Domestic Passengers 665.9 688.5 + 22.5

International Passengers 348.3 397.5 + 49.1

Cargo and Mail 126.2 149.5 + 23.2

Others* 182.9 204.5 + 21.5

Total 1,323.5 1,440.0 + 116.4

Fuel and Fuel Tax 299.8 346.5 + 46.6

Non – Fuel Cost 929.5 994.5 + 64.9

Total 1,229.4 1,341.0 + 111.5

Operating Income 94.0 99.0 + 4.9

FY12 FY13 (E) Difference

OperatingExpenses

OperatingRevenues

Op. Income

(¥ Billion)*Operating Revenues of AirAsia Japan are included in Others

Air Transportation BusinessAir Transportation Business((Operating RevenuesOperating Revenues and Expenses)and Expenses)

©ANA2013 34


(¥ Billion）

94.0


99.0

FY1FY133Op. IncomeOp. Income(Estimate)(Estimate)

+22.5

+49.0

+23.0

+21.5

+46.5

+65.0

Non Non -- FuelFuelCostCost

IncreaseIncreasein Profitin Profit

++5.05.0

RevenuesRevenues++111166..55

ExpensesExpenses+1+11111.5.5

DomesticDomesticPassengerPassenger

InternationalInternationalPassengerPassenger

Cargo &Cargo &MailMail

OtherOtherRevenueRevenue

Fuel &Fuel &Fuel TaxFuel Tax

Air Transportation BusinessAir Transportation Business(Change in (Change in Operating Operating Income)Income)

©ANA2013 35

Domestic Passengers International Passengers

1H(E) 2H(E) FY13(E) 1H(E) 2H(E) FY13(E)

54,047(- 0.4)

12.7(+ 1.4)

9.8(+ 0.9)

77.1(- 0.4)

+ 14.7

+ 12.6

+ 13.2Available Seat Km + 3.2 + 5.7 + 4.5 + 14.4 + 13.8

Revenue Passenger Km + 5.9 + 6.5 + 6.2 + 15.1 + 13.8

Passengers + 4.1 + 6.6 + 5.4 + 27.7 + 20.9

Load Factor (%)* 63.4(+ 1.6)

62.9(+ 0.4)

63.1(+ 1.0)

73.4(+ 0.4)

75.2(- 0.0)

Unit Revenue（¥/ASK）** 11.4(- 1.0）

11.2(+ 0.7)

11.3(- 0.2)

8.9(+ 2.8)

9.3(+ 1.8)

Yield（¥/RPK）** 18.0(- 3.5)

17.8(- 0.0)

17.9(- 1.8)

12.1(+ 2.2)

12.4(+ 1.8)

Unit Price（¥/Passenger）** 16,178(- 1.8)

15,760(- 0.1)

15,968(- 1.0)

51,436(- 7.9)

52,730(- 4.2)


《《Passenger OperationsPassenger Operations》》 Earnings Forecast Assumptions for FY13Earnings Forecast Assumptions for FY13（（vs. FY12vs. FY12））

* (*.* pts) : Difference** (*.*) : year-on-year basis

©ANA2013 36

Domestic Cargo International Cargo

Freighter


Available Ton km + 2.7 + 6.7 + 4.7 + 14.2 + 15.0 + 14.6

Revenue Ton km + 2.8 - 2.6 + 0.1 + 14.7 + 11.9 + 13.2

Revenue Ton + 2.3 - 3.0 - 0.4 + 12.1 + 8.3 + 10.1

Load Factor (%) 23.1 23.1 23.1 60.8 62.4 61.6

Unit Revenue(¥/ATK) ** 16.2(- 0.3)

17.2(- 2.3)

16.7(- 1.3)

23.5(+ 9.3)

24.3(+ 9.4)

23.9(+ 9.3)

Unit Price(¥/RT) ** 70(- 0.0)

74(+ 7.5)

72(+ 3.7)

157(+ 11.4)

160(+ 16.2)

159(+ 13.9)

１H(E) 2H(E) FY13(E)１H(E) 2H(E) FY13(E)

Available Ton km + 1.6 - 6.2 - 2.4 + 8.0 + 8.6 + 8.3

Revenue Ton km - 12.4 - 38.0 - 27.3 + 17.1 + 20.6 + 19.0

Revenue Ton - 8.4 - 28.0 - 19.3 + 12.2 + 13.6 + 12.9

Load Factor (%) 28.5 28.4 28.5 62.6 68.6 65.7

Unit Revenue(¥/ATK) ** 40.4(- 6.1)

43.9(+ 9.5)

42.1(+ 1.5)

44.0(+ 15.9)

45.8(+ 18.3)

44.9(+ 17.2)

Unit Price(¥/RT) ** 141(+ 4.2)

153(+ 42.6)

147(+ 22.7)

127(+ 11.6)

127(+ 13.1)

127(+ 12.4)

Total


《《Cargo OperationsCargo Operations》》 Earnings Forecast Assumptions for FY13Earnings Forecast Assumptions for FY13（（vs. FY12vs. FY12））

** (*.*) : year-on-year bisis

©ANA2013

(¥ Billion)

+ 0.15.35.1Operating Return on Assets (%)

- 0.11.01.2Debt/Equity Ratio (times) *

- 75.1822.0897.1Interest Bearing Debts *

5.8

37.9

797.5

2,107.0

- 0.8

+ 2.0

+ 30.7

- 30.2

6.6Return on Equity (%)

35.9Ratio of Shareholders‘ Equity (%)

766.7Shareholders' Equity

2,137.2Assets

Mar 31, 2013 Difference

(Reference) FY2013 Earnings Forecast

Mar 31,2014(E)

※The revised "Accounting Standard for Retirement Benefits" at the end of FY2013 is not be applied※Accumulated other comprehensive income in net assets is at the end of March, 2013

* Off-balanced lease obligation (D/E ratio)As of March, 2013, 136.8 Billion(1.3 times) As of March, 2014 (Estimate), ¥122.0 Billion（1.2times）

37

Consolidated Balance Sheet (Estimate)Consolidated Balance Sheet (Estimate)

©ANA2013

- 169.5

- 4.6

- 50.8

- 37.7

+ 46.2

- 1.5

+ 15.5

+ 1.8

- 103.5

68.5

- 165.5

- 197.5

234.0

13.0

139.5

45.0

66.0Cash Flow from Financing Activities*

73.1Free Cash Flow

- 114.6Cash Flow from Investing Activities**

- 159.7Capital Expenditures ＆ Lending

187.7Cash Flow from Operating Activities*

14.5Principal Payment for Aircraft Lease

123.9Depreciation and Amortization

43.1Net Income

(¥ Billion)

15.5

249.5

15.4

227.7

+ 0.1EBITDA Margin (%)

+ 21.7EBITDA

FY12 FY13(E) Difference

(Reference) FY2013 Earnings Forecast

38

* Cash flow from operating activities and cash flow from financing activities in this table includeoff-balanced lease principle refund equivalent.

** Cash flow from investing activities in this table do not include time deposit in excess of threemonths and certificates of deposit.

Consolidated Cash Flow (Estimate)Consolidated Cash Flow (Estimate)

©ANA2013 39

Ⅳ. Supplemental Reference

©ANA2013

Supplemental ReferenceSupplemental Reference

Exchange Rate

0%10%20%30%40%50%60%70%80%90%

100%

0%10%20%30%40%50%60%70%80%90%

100%

Scope ofScope ofHedgeHedge

Fuel Cost

(US$1 change per barrel)

Non hedge Impact of oil price

2.3 Bn JPY

Fuel Cost

(US$1 change per barrel)

Non hedge Impact of oil price

2.3 Bn JPY

Fuel

FY2012 FY2013 FY2014 FY2015

FY2012 FY2013 FY2014 FY2015

【FY2013 Earning Forecast】Dubai Crude Oil：US$102 Kerosene：US$120

【FY2013 Earning Forecast】Dubai Crude Oil：US$102 Kerosene：US$120

【FY2013 Earnings Forecast】 US$：95JPY【FY2013 Earnings Forecast】 US$：95JPY

Hedge Ratio (As of March, 2013)

60%

40%

15%5%

45%35%

15%

40

5%

Fuel & Exchange RateFuel & Exchange Rate

Hedge Ratio (As of March, 2013)

Expenses inForeign Currency(Excluding Fuel)

Expenses inForeign Currency

(Fuel)

Revenues inForeign Currency(Int’l Passenger)

(Int’l Cargo)

©ANA2013

Supplemental Reference

+ 0.8+ 0.8

+ 2.7+ 2.7

++ 11.4.4

+ 0.3+ 0.3

+ 1.1

Op. IncomeIncrease

-- 1.91.9

Op. IncomeDecrease

(¥ Billions: Full year basis)

【US$】

【Simulation Assumptions】The income sensitivity is based on FY2013 Revenue and Expense Forecast in the beginning of FY2013JPY depreciates ¥1 yen versus US$ and the same level (about 1%=¥1 yen/¥95 yen) as the US$ versus other currenciesThe fuel fluctuation is calculated on 40% exchange hedge ratio (As of March, 2013)

【Simulation Assumptions】The income sensitivity is based on FY2013 Revenue and Expense Forecast in the beginning of FY2013JPY depreciates ¥1 yen versus US$ and the same level (about 1%=¥1 yen/¥95 yen) as the US$ versus other currenciesThe fuel fluctuation is calculated on 40% exchange hedge ratio (As of March, 2013)

【Other Currencies】

++ 22.2.2

+ + 33..00

-- 0.80.8

OperatingRevenues

【All Currencies】

Op. Income Decrease

41

Foreign Currency Sensitivity (Impact due to Foreign Currency Sensitivity (Impact due to the the yen depreciation in FY2013)yen depreciation in FY2013)

OperatingExpenses

OperatingRevenues

OperatingExpenses

OperatingRevenues

OperatingExpenses

©ANA2013

燃油・為替Supplemental Reference

-1.0

-0.5

0.0

0.5

1.0

Other CurrenciesOther Currencies

-6.0-4.0-2.00.02.04.06.0

USDUSD¥¥8080→→¥¥8844..55

42

Impact of Foreign Exchange RatesImpact of Foreign Exchange Rates in FY2012in FY2012

First Half Results (Earning Forecast as of 27 Apr, 2012 vs. Weighed Avg. during Period)

(operating income (loss) /including hedge effects;units: billion yen)

Revenue (increase + notationdecrease - notation)

Expense(decrease +; notationincrease:-notation)

Second Half Results (Earning Forecast as of 31 Oct, 2012 vs. Weighed Avg. during Period)

All CurrenciesAll Currencies0.3 0.3 BnBn Yen Yen

Profit DecreaseProfit DecreaseUSDUSD

¥¥8080→→¥¥80.280.2ProfitProfit

IncreaseIncrease

Profit DecreaseProfit Decrease

All CurrenciesAll Currencies0.8 0.8 BnBn Yen Yen

Profit IncreaseProfit IncreaseOther CurrenciesOther CurrenciesProfitProfit

IncreaseIncrease

Profit DecreaseProfit Decrease

©ANA2013 43


FY12Composition Difference

North America 28.6 + 1.6 29.4 + 2.5

Europe 21.1 + 1.7 18.5 - 0.1

China 16.8 - 2.9 16.0 - 3.0

Asia 28.7 - 0.3 31.3 + 0.7

Resort 4.8 - 0.1 4.8 + 0.0

North America 30.5 + 1.3 32.4 + 3.9

Europe 20.9 + 0.5 20.3 - 1.4

China 13.7 + 0.3 12.6 - 1.1

Asia 29.6 - 1.6 29.6 - 1.0

Resort 5.3 - 0.5 5.0 - 0.5

North America 31.9 + 1.9 33.1 + 3.3

Europe 20.8 + 0.1 20.0 - 1.2

China 10.9 - 0.9 9.5 - 2.1

Asia 30.3 - 0.7 31.4 - 0.1

Resort 6.0 - 0.3 6.1 + 0.0

Revenue

ASK

RPK

4Q/FY12Composition Difference

（Does not include AirAsia Japan）

*Accompanying change in Hong Kong route from China to Asia category from FY2012 calculations,figures for the preceding fiscal year also reflect the said category change

International Passenger Results by DestinationInternational Passenger Results by Destination

©ANA2013 44


Revenue

ATK

RTK

FY12Composition Difference

North America 19.9 - 0.9 20.1 - 0.7

Europe 15.3 - 0.8 15.4 - 0.7

China 36.9 + 1.2 35.2 + 1.2

Asia 21.0 + 0.3 22.5 + 0.1

Others 6.9 + 0.3 6.8 + 0.1

North America 32.7 + 0.7 35.1 + 3.4

Europe 23.1 + 0.6 22.9 + 0.1

China 19.8 - 0.3 17.6 - 2.6

Asia 20.3 - 0.8 20.7 - 0.9

Others 4.1 - 0.1 3.7 - 0.0

North America 35.3 + 0.1 36.6 + 0.6

Europe 26.5 + 1.0 25.4 - 0.1

China 16.7 - 0.3 15.3 - 0.1

Asia 17.3 - 0.5 18.8 - 0.3

Others 4.3 - 0.3 4.0 - 0.0

4Q/FY12Composition Difference

International Cargo Results by DestinationInternational Cargo Results by Destination

©ANA2013 45


Mar, 2013 Change Owned Leased

Wide-Body

Mid-Body

Narrow-Body

Regional

Mar, 2012

Boeing 747-400 (Domestic) 8 5 - 3 5 0

Boeing 777-300ER 19 19 － 16 3

Boeing 777-300 7 7 － 7 0

Boeing 777-200ER 7 10 + 3 6 4

Boeing 777-200 16 16 － 14 2

Boeing 787-8 6 17 + 11 17 0

Boeing 767-300ER 26 26 － 6 20

Boeing 767-300 31 25 - 6 25 0

Boeing 767-300F 2 2 － 0 2

Boeing 767-300BCF 7 7 － 7 0

Airbus A320-200 * 25 22 - 3 18 4

Boeing 737-800 17 21 + 4 20 1

Boeing 737-700ER 2 2 － 2 0

Boeing 737-700 16 14 - 2 11 3

Boeing 737-500 16 16 － 14 2

Bombardier DHC-8-400 (Q400) 18 20 + 2 7 13

Bombardier DHC-8-300 (Q300) 3 1 - 2 1 0

226 230 + 4 176 54Total

Aircraft in ServiceAircraft in Service

* Including 4 aircraft operated by AirAsia Japan (all leased aircraft)** As of Mar 31, 2013, excluding leased aircraft outside group (13 as of end of FY2012,

12 as of end of prior fiscal year)

©ANA2013

Forward-Looking Statements. This material contains forward-looking statements based onANA’s current plans, estimates, strategies, assumptions and beliefs. These statementsrepresent the judgments and hypotheses of the Company’s management based on currentlyavailable information. Air transportation, the Company’s core business, involves government-mandated costs that are beyond the Company’s control, such as airport utilization fees and Fuel taxes. In additions, conditions in the markets served by the Company are subject to significant fluctuations.

It is possible that these conditions will change dramatically due to a number of factors, suchas trends in the economic environment, aviation fuel tax, technologies, demand, competition, foreign exchange rate fluctuations, and others. Due to these risks and uncertainties, it is possible that the Company’s future performance will differ significantly from the contents of this material.

Accordingly, there is no assurance that the forward-looking statements in this material willprove to be accurate.

Cautionary Statement

©ANA2013 47

ANA Group Corporate Philosophy

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 andis the foundation of our business

Safety is assured by an integratedmanagement system and mutual respect.

Safety is enhanced through individualperformance and dedication

Management Vision

It is our goal to bethe world’s leading airline group

in customer satisfaction and value creation.

©ANA2013

Thank you.

This material is available on our website.

http://www.anahd.co.jp/en

Investor Relations IR Library Presentations

Investor Relations, ANA Holdings Inc.Phone +81-(0)3-6735-1030 E-Mail: [email protected]

(Our company name, department name, and mail address have changed) 48

（Our website has been renewed）

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