Fly Into Tomorrow
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FLY INTO TOMORROW JAL REPORT 2017 Fiscal year ended March 2017 The JAL Group will strive to achieve corporate rationale and follow it as a universal business purpose and fundamental goal by practicing the JAL Philosophy. JAL GROUP CORPORATE POLICY JAL PHILOSOPHY PART 1 In Order to Lead a Wonderful Life PART 2 To Become a Wonderful JAL The JAL Group will: CHAPTER 1 The Formula for Success CHAPTER 1 Each of Us Makes JAL What It Is (The Formula for Life and Work) Each of Us Makes JAL What It Is The Result of Life and Work = Attitude x Discuss Frankly Pursue the material and intellectual Effort x Ability Lead by Example Be the Center of the Vortex CHAPTER 2 Have the Right Attitude Valuable Lives Are Entrusted to Us in Our Work growth of all our employees; Base Criteria for Decision-Making on Be Thankful “Doing What Is Right as a Human Being” Put Yourself in the Customer’s Position Have a Beautiful Mind Deliver unparalleled service to our Be Humble and Honest CHAPTER 2 Have a Keen Sense of Profitability Always Be Cheerful and Positive Maximize Revenues and Minimize Expenses A Small Good Is Like a Great Evil, While a Elevate Our Cost-Consciousness Great Good May Appear Merciless Pursue Profit Fairly customers; and Wrestle in the Center of the Ring Manage the Company Based on Accurate Figures Grasp Matters Simply Possess Opposing Extremes CHAPTER 3 Unite Our Hearts Increase corporate value and contribute Make the Best Baton Pass CHAPTER 3 Accumulate Tedious Efforts Align Mental Vectors with Passion “Workfloor” Management to the betterment of society. Work Earnestly Follow the Merit System Accumulate Tedious Efforts Work with Voluntary Attention CHAPTER 4 Possess a Fighting Spirit Fire Yourself Up Maintain an Ardent Desire Strive for Perfection Never Give Up Until We Succeed Boast and Make It Come True CHAPTER 4 Ability Will Improve Possess True Courage Ability Will Improve CHAPTER 5 Be Creative in Our Work Today Should Be Better Than Yesterday, Tomorrow Better Than Today Conceive Optimistically, Plan Pessimistically, and Execute Optimistically Think Through to Visualize the Results Decide and Act with Speed Face Challenges with Courage Aim High JAL REPORT 2017 01 CONTENTS The JAL Group’s Growth Story The JAL Group’s Growth Story 03 JAL Group History ........................................ 04 Financial and Non-financial Highlights ......................... 08 Management Strategies Designed to Create Value 13 Message from the President ................................ 14 Message from the CFO .................................... 20 Outline of JAL Group Medium Term Management Plan for Fiscal Years 2017-2020 ................................ 24 JAL Group Value Creation Cycle ............................. 28 Human Resources Strategy ................................. 37 Performance and Strategies by Business 43 At a Glance ............................................ 44 International Passenger Operations ........................... 46 Domestic Passenger Operations .............................. 48 Other Businesses ......................................... 51 Editorial Policy Group Companies ........................................ 52 This JAL Report 2017 is an integrated report on JAL’s financial performance and CSR activities, based on various guidelines, to provide a deeper A Business Base that Supports Value Creation understanding of such matters as the JAL 53 Group’s corporate value and growth potential. JAL Group CSR .......................................... 54 The JAL Group supports society’s Period covered by the report Compliance / Risk Management .............................. 66 progress and development through Primarily April 2016 to March 2017 (fiscal 2016) Corporate Governance .................................... 68 its business activities by increasing corporate value through the provision Our External Directors Discuss JAL ............................ 72 Scope of the report of the highest level of services to Board of Directors and Officers .............................. 76 The JAL Group Directors ............................................ 76 customers. In this section, we look back at JAL’s history and review Audit & Supervisory Board of Members ..................... 79 Date of publication progress under the previous Medium Executive Officers. 80 September 2017 Term Management Plan. JAL corporate website Financial / Data Section 81 Offering a comprehensive insight into JAL’s JAL Group History .................04 business approach and activities, as well as Financial Data – Six-year Summary ............................ 82 investor and CSR information. Financial and Non-financial Highlights ...08 Evaluation and Analysis of Financial Conditions .................. 84 Consolidated Financial Statements ........................... 98 Consolidated Subsidiaries .................................. 121 ESG Data .............................................. 122 International Route Map ................................... 124 Domestic Route Map ...................................... 126 Glossary ............................................... 127 Data on Incidents ........................................ 128 Stock Information / Corporate Information ...................... 129 02 JAL REPORT 2017 JAL REPORT 2017 03 Ⅱ Ⅲ Ⅳ Ⅴ The JAL Group’s Growth Story Management Strategies Performance and Strategies A Business Base that Supports Financial / Data Section Designed to Create Value by Business Value Creation JAL GROUP HISTORY Since its establishment, the JAL Group has developed its business to meet the needs of the times. Following its bankruptcy in 2010, when the Group was given the opportunity to restructure, it has been progressing steadily, focused on the goals of delivering unpar- alleled service to its customers and contributing to the betterment of society. Going forward, the JAL Group is committed to continuing to create new values under the company slogan— FLY INTO TOMORROW—as it seeks to become the world’s most preferred and valued airline group. C K N ●A ● ● ● 1970 2010 2017 1951 H Lists on first sections of a ● Files for reorganization Publishes Medium Term Establishment of Japan Airlines ●G number of stock exchanges 1992 proceedings under the Management Plan Corporate Reorganization Act 1987 Establishes Service Completes privatization Committee ●M E ● 2012 1983 Relists on First Section of Sets world record for ●I Tokyo Stock Exchange international scheduled air Head Office Building at the time of 2002 traffic data establishment Business integration of Japan Airlines and Japan Air System January 19, 2010 Press Conference ●B ●D 1954 J Holds full privatization kick-off ceremony ● Launches first international route, 1970 ●L Tokyo=San Francisco Introduces jumbo jet 2007 Joins oneworld alliance 2011 Concludes corporate ●F reorganization proceedings under the Corporate 1985 Reorganization Act Japan Airlines flight 123 Business integration press conference accident JAL’s second Boeing 747 lands at Haneda March 1, 2007 oneworld Governing Operates first international flight Board meeting (February 2,1954, Haneda to San Francisco) ●A ●C ●E ●G ●H ●J ● K ●M March 31, 1951: Japan Airlines Co., Ltd. February 2, 1970: Japan Airlines stock According to 1983 international November 18, 1987: JAL is launched To mark the United Nations Decade April 1, 2007: With the aim of further January 19, 2010: Japan Airlines files September 19, 2012: Japan Airlines is and four other Japanese companies is listed on the first sections of Tokyo, scheduled air traffic data (total of as a fully fledged private-sector of Disabled Persons (1983–1992), expanding its network, Japan Airlines an application for support from the relisted on the Tokyo Stock Exchange. apply for an airline company license. Osaka, and Nagoya stock exchanges, passengers, cargo and mail) issued by enterprise following the completion of initiatives to make air travel fully becomes an official member of Enterprise Turnaround Initiative After the bankruptcy of January 19, Subsequently, they unite into a single respectively. the International Air Transport the amendments to the Articles of accessible are expanded to the oneworld, one of the three major Corporation of Japan (ETIC), and ETIC 2010, its business was scaled down to company, Japan Airlines, with Aiichiro Association (IATA), Japan Airlines Incorporation and other procedures company level from the previous global airline alliances. This makes it decides to support its restructuring. 60% due to the withdrawal of Fujiyama as the shareholders’ achieves a 5.6% year-on-year increase necessary for complete privatization at departmental level. possible for JAL to offer greater added On the same day, Japan Airlines files unprofitable routes and other representative. Company registration is ● D in air traffic to 4,559 million ton/ an extraordinary general meeting of value in convenience and comfort to petitions for commencement of measures. In addition, the number of completed on August 1 of the same kilometers, making it first of the then shareholders held the previous day. its customers through e-ticket links, reorganization proceedings under the Group companies was halved, staff year, marking the birth of Japan Airlines July 1, 1970: JAL’s first commercial 126 IATA member airlines. (In the While regulations restricting the issue ●I improved mileage programs, shared Corporate Reorganization Act with the numbers were reduced by 40% Co., Ltd., the first Japanese-owned flight operated with the Boeing previous year it came second to Pan of new