All Nippon Airways Co., Ltd. Notice of Merger of Consolidated Subsidiaries

* Reuters is not responsible for the content in this press release.

Tue Apr 6, 2010 2:21am EDT 

  TOKYO, Apr 06 (MARKET WIRE) -- 
The Company hereby announces that, in a decision made at a meeting of its
Board of Directors held on April 2, 2010, two of its consolidated
subsidiaries, namely, Air Japan Co., Ltd. ("AJX") and ANA & JP Express
Co., Ltd. ("AJV"), will merge, as noted below:


1.  Objective of the Merger

    In accordance with the ANA Group FY2010-2011 Corporate Strategy
    announced on March 19, 2010, and in response to the changing
    environment of the airline industry overall, the two companies in
    question, both of which operate Boeing 767 aircraft, will merge in
    order to build a more flexible operating structure and streamline
    their operations.

2.  Outline of the Merger

    (1) Merger schedule*

        March 25, 2010                Merger placed on agenda at ordinary
                                      meeting of the Company's Board of
                                      Directors

        April 2, 2010                 AJX/AJV merger resolution voted on at
                                      an extraordinary meeting of the Board
                                      of Directors
                                      AJX/AJV merger agreement signed

        April 16, 2010 (anticipated)  Approval of AJX/AJV merger at
                                      extraordinary meeting of shareholders

        July 1, 2010 (scheduled)      AJX/AJV merger date (effective date)

        *Subject to the approval of relevant government agencies

    (2) Method of merger

        This will be an acquisition and merger, with AJX the surviving
        company; AJV will be dissolved.

    (3) Allocation of shares related to merger

        The Company acquired the AJV shares held by Japan Post Service Co.,
        Ltd., Nippon Express Co., Ltd. and Mitsui O.S.K. Lines, Ltd. as of
        April 1, 2010.

        As a result, as of the scheduled effective date, both companies in
        the merger will become wholly-owned subsidiaries of the Company,
        and there will thus be no issue of new shares or payment of funds
        resulting from the merger.

    (4) Handling of the extinct company's new share warrants and corporate
        bonds with preemptive rights

        AJV, the extinct company, has issued no new share warrants or
        corporate bonds with preemptive rights.


    
To view the full text of this press release go to:
http://www.ana.co.jp/eng/aboutana/press/index_sm.html

    ALL NIPPON AIRWAYS CO., LTD.
 President and CEO: Shinichiro Ito
 (Code
number: 9202, First Section of the Tokyo Stock Exchange and Osaka
Securities Exchange)

    

Contact:
Yasuo Tanji
Director, General Administration
All Nippon Airways Co., Ltd.
Tel. +81-3-6735-1001

Copyright 2010, Market Wire, All rights reserved.

-0-
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.