Overview

• ANA finalized the share exchange on August 1, 2025, concluding a two-year approval process after clearances from the Japan Fair Trade Commission and Chinese competition authorities.
• Nippon Cargo Airlines is now a wholly owned ANA subsidiary, making the group Japan’s largest combined passenger and cargo carrier and the world’s 14th by cargo tonnage.
• NCA’s fleet of 15 Boeing 747 freighters joins ANA’s six 767s and two 777s to expand capacity on routes linking Japan with Asia, Europe and North America.
• Financial consolidation of NCA’s balance sheet and income statement into ANA Group accounts is scheduled to begin in the second quarter of fiscal year 2025.
• The integration aims to strengthen ANA’s global logistics network, improve profitability and boost resilience against market volatility.