As a result of the above, capacity on international routes measured in Available Seat Kilometers (ASK) increased by 1.3% year-on-year, demand measured in Revenue Passenger Kilometers (RPK) increased by 5.4% year-on-year, the Load Factor (L/F) was 78.8% (up 3.1 percentage points year-on-year) and international passenger revenue was 448.7 billion yen, declining 1.3% from the year before.
In route operations, we continued seasonal services on six of the regional routes which we had suspended. From April 1, 2015, we launched new code-share flights with Amakusa Airlines between Amakusa and Fukuoka, between Amakusa and Kumamoto, and between Kumamoto and Osaka (Itami) to increase customer convenience and contribute to the development of regional economies.
To provide easy, convenient and simple services at the airport and in the air under the concept of "JAL Smart Style," we introduced "JAL Express Tag Service" at Tokyo (Haneda) Airport (domestic) to reduce passenger waiting times at counters in March 2015, and expanded this service to Sapporo (New Chitose), Osaka (Itami), Fukuoka and Okinawa (Naha) airports in March 2016.
As a result of the above, capacity on domestic routes measured in Available Seat Kilometers (ASK) decreased by 1.2% year-on-year, demand measured in Revenue Passenger Kilometers (RPK) increased by 1.5% year-on-year, the Load Factor (L/F) was 67.9% (up 1.8 percentage points year-on-year), and domestic passenger revenue was 501.2 billion yen, an increase of 2.8% from the year before.
International and Domestic Cargo
In international cargo operations, amid sluggish overall shipments in and out of Japan, we efficiently captured trilateral shipments via Japan in order to steadily secure shipments and maximize revenues. As a result of the above, the volume of international cargo carried measured in Revenue Cargo Ton Kilometers (RCTK) decreased by 1.7% year-on-year and international cargo revenue was 54.2 billion yen, down 10.0% from the year before.
In domestic cargo operations, despite the reduction in capacity, we were able to capture more shipments than in the previous year through aggressive sales activities and innovative ways of managing cargo space to utilize limited space effectively. As a result of the above, the volume of domestic cargo carried when measured in Revenue Cargo Ton Kilometers (RCTK) increased by 1.8% year-on-year, and domestic cargo revenue decreased by 3.8% year-on-year to 23.3 billion yen.
(3) JAL Group Consolidated Financial Position
(as of Mar. 31, 2015) FY2015
(as of Mar. 31, 2016) Difference
Total assets (billion yen) 1,473.3 1,578.9 + 105.5
Net assets (billion yen) 800.7 870.5 + 69.8
Equity ratio *1(%) 52.7 53.4 + 0.7 points
Interest-bearing debt (billion yen) 100.5 92.6 - 7.9
Debt/Equity Ratio *2 0.1 0.1 - 0.0
Figures are rounded down to the nearest tenth of a billion yen while percentages are rounded off to the first decimal place.
Note: 1. Shareholders' equity is total net assets excluding minority interests.
2. Debt-to-equity ratio is interest-bearing debt divided by shareholders equity.
(4) Dividend Policy
JAL intends to pay 25% of net income for the fiscal year belonging to parent after adjusting income tax deferred to our shareholders as dividends. According to the consolidated financial results for the full fiscal year 2015, the airline expects to pay a year-end dividend of 120 yen per share.
Dividends per Share
Fiscal Year 2015 120.00 yen 120.00 yen
Fiscal Year 2014 104.00 yen 104.00 yen
(5) Forecast of JAL Group Consolidated Financial Results for FY 2016
The consolidated earnings forecast remains the same as the full-year forecast announced in the JAL Group Medium Term Management Plan Rolling Plan 2016 on February 18, 2016.
Unit: Billions of yen Operating Revenues Operating Income Ordinary Income Net Income attributable to owners of the parent
Forecast for the full fiscal year
ending March 31, 2017 1,343.0 201.0 193.0 192.0