All Nippon Airways announces company split and restructure amid changing operating environment
All Nippon Airways (ANA) announced (15-May-2012) a company split and amendments to the Articles of Incorporation (changes to the corporate name and the business purpose), pursuant to the move to a holding company structure. Under the restructure, all business, except regarding control or supervision of companies in which shares are held, will be transferred to ANA Holdings, a wholly owned subsidiary of All Nippon Airways Co Ltd. "The purposes of the shifting are to strengthen Group management and to enable autonomous management of each of its Group companies," ANA said. The effective date for the split will be 01-Apr-2012, pending shareholder approval at a 19-Jun-2012 meeting and regulatory clearance. [more - original PR - regulatory notice] [more - original PR - Press Release]
All Nippon Airways: "Japan’s airline industry is facing a major transition period, including the expansion of airport capacity in
Metropolitan Tokyo, further moves toward deregulation of airline industry, the inauguration of a wave of new Low Cost Carriers (LCCs) and increased competition from other modes of transport and carriers elsewhere in Asia. In order to respond speedily to the changes, and to further achieve the goals set forth in its recently established FY2012-13 ANA Group Corporate Strategy, the Company has decided to shift to a holding company structure, with transferring the Business to the Successor Company by the Absorption-type Company Split, which may be the optimal organizational structure for building a multi-brand strategy between the existing ANA brand and the new LCC brand. And the purposes of the shifting are to strengthen Group's management and to enable autonomous management of each of its Group companies," company statement, 15-May-2012.