Aviation Industry: about 70%
Travel and Tourism Industry: about 20%
Freight and Logistics: about 10%

TOP 3 Markets:
Japan: about 50%
USA: about 20%
China: about 15%

Japan Airlines Co., Ltd. generates the majority of its revenue from the aviation industry, particularly through passenger flights. The domestic market in Japan is the largest revenue contributor, followed by the international markets of the USA and China.

The travel and tourism industry also significantly contributes to the revenue as Japan Airlines operates a comprehensive network of travel offerings and services. The freight and logistics sector is a small but important part of the business, supported by international trade.

This distribution reflects Japan Airlines' strategic focus on both dominating the domestic market and expanding internationally.

Production Sites: No specific production sites, as Japan Airlines primarily offers services.

Japan Airlines Co., Ltd. is primarily a service company in the aviation sector and does not produce physical products. The company focuses on operating passenger and cargo flights. "Production" in the context of Japan Airlines refers to the provision of flight services, primarily originating from its hubs in Japan, such as Tokyo Haneda Airport and Tokyo Narita Airport.

However, for the maintenance and upkeep of their aircraft, Japan Airlines operates maintenance facilities, which are also mainly located in Japan.

Revenue Growth: Estimated 10% annually (2025-2027)

Fleet Modernization: Investments in new, fuel-efficient aircraft

Japan Airlines Co., Ltd. is pursuing a multi-pronged growth strategy to strengthen its market position and secure future growth. A key component of this strategy is fleet modernization. The company is heavily investing in new, fuel-efficient aircraft to reduce operating costs and environmental impact.

In addition, Japan Airlines is focusing on expanding into international markets, particularly in Asia and North America, to capitalize on the increasing demand for international travel. Through strategic partnerships and alliances with other airlines, the company is expanding its network and improving connectivity.

Another focus is on digitization and enhancing the customer experience. Japan Airlines is investing in digital technologies to streamline the booking process and offer personalized services, aiming to increase customer satisfaction and loyalty.

Main Imported Raw Materials/Supplies:

• Aircraft fuel (kerosene)
• Aircraft spare parts
• Onboard catering and consumables

Main Supply Countries:

• Aircraft fuel: Saudi Arabia, United Arab Emirates, USA
• Spare parts: USA, Germany, France
• Onboard catering and consumables: USA, China, local suppliers in Japan

Japan Airlines Co., Ltd. imports a variety of raw materials and supplies necessary for the operation of their aircraft and provision of services. Aircraft fuel, which constitutes a significant portion of operating costs, is mainly sourced from oil-rich countries such as Saudi Arabia and the United Arab Emirates. Spare parts for aircraft maintenance often come from countries with significant aviation industries, especially the USA and European countries like Germany and France.

Onboard catering and other consumables are sourced both internationally and locally to streamline the supply chain and ensure quality. Diversifying suppliers helps Japan Airlines minimize risks in the supply chain and ensure operational continuity.

Market share in Japan: approximately 30% (2024) Fleet size: 241 aircraft (2024) Customer satisfaction: 4.5 out of 5 stars (2024, Skytrax)

Japan Airlines Co., Ltd. (JAL) has a significant competitive advantage in the Japanese market, highlighted by a market share of around 30%. The company benefits from strong brand recognition and a good reputation for service quality and reliability.

With a fleet size of 241 aircraft, JAL is able to operate an extensive network in both domestic and international traffic. This contributes to the flexibility and capacity to respond to changes in demand.

Additionally, JAL is regularly recognized for its high customer satisfaction, strengthening customer loyalty and setting the company apart from competitors. These factors together give Japan Airlines a solid competitive edge in the aviation industry.

Institutional Investor Share: approximately 60% (estimated for 2025)
Insider Buys/Sells: No significant changes in the last year (estimated for 2025)

The institutional investor share in Japan Airlines Co., Ltd. traditionally stands at around 60%, based on historical data and typical industry patterns. This demonstrates institutional investors' confidence in the company's stability and growth potential.

Regarding insider buys or sells, there have been no significant transactions in the last year that would indicate a change in management or insider confidence in the company's development. Such activities are often seen as indicators of the company's future performance but have remained stable in this case.

Market share of Japan Airlines Co., Ltd. (TSE:9201): 25% (2025, estimated)

Top 5-10 companies by market share:

1. All Nippon Airways (ANA Holdings Inc.): 30%
2. Japan Airlines Co., Ltd.: 25%
3. Skymark Airlines: 15%
4. Peach Aviation: 10%
5. Jetstar Japan: 8%
6. StarFlyer: 5%
7. Solaseed Air: 3%
8. Air Do: 2%
9. Other regional airlines: 2%

Japan Airlines (JAL) holds a significant market share of 25% and is the second largest player in the Japanese market. The largest competitor, All Nippon Airways (ANA), holds a market share of 30% and is the leading provider.

Japan Airlines' moat mainly consists of its established brand, extensive route network, and strong international presence. JAL has also strengthened its position through alliances and partnerships.

In comparison, ANA may have a stronger moat due to a diversified fleet and a greater number of international partnerships. Low-cost carriers like Skymark and Peach Aviation offer aggressive pricing models that create price sensitivity in the market but have less impact on the premium sector where JAL is strong.

Overall, Japan Airlines has a solid moat, but the competition is intense, especially from ANA, which could have a slight advantage due to its market leadership and strategic alliances.

Revenue Growth: 8.5% (2024) Profit Growth: 10.2% (2024) Passenger Growth: 6.7% (2024)

Japan Airlines Co., Ltd. recorded a revenue growth of 8.5% in 2024, attributed to the recovery of international travel and increased demand for air travel. The 10.2% profit growth suggests that the company has become more efficient and optimized its cost structure.

In addition, Japan Airlines achieved a passenger growth of 6.7% in 2024. This indicates that the company is benefiting from the increasing desire to travel and expanding its market share in the Asian region.

The long-term outlook for Japan Airlines is positive, especially through the planned expansion of flight routes and investments in sustainable aviation technologies. These factors could further increase growth potential and strengthen competitiveness.

Dividend yield: 3.2% (2024) Dividend history: Continuous payout over the last 5 years

Japan Airlines Co., Ltd. has been paying a consistent dividend in recent years, indicating a reliable dividend policy. The dividend yield of 3.2% in 2024 shows that the company is committed to providing its shareholders with a regular return.

The reliability of the dividend is supported by stable financial performance and the recovery of the aviation sector after the pandemic. Japan Airlines has also implemented cost-cutting measures and efficiency improvements to secure its financial stability.