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Dividend Policy

1. Dividend Policy and the dividends of FY2022

JAL regards shareholder returns as one of our most important management matters. Our fundamental policy is to actively implement shareholder returns through continuous and stable dividends and flexible share repurchases, while securing internal reserves for making investments for corporate growth in the future and changing business environment and to build a strong financial structure.

However, even though the prolonged COVID infection is settling down and the passenger demand, especially domestic demand, is gradually coming back, the prolonged infection delayed passenger demand recovery and JAL regrettably recorded significant losses for this fiscal year that makes losses in two consecutive years. Considering the surrounding business environment such as the apparent geopolitical risk and the surge of fuel price, we believe securing liquidity at hand to enhance our risk resilience and financial foundation is the best for JAL at this moment.

Although our performance and cash flow have been steadily improving, our first quarter EBIT results was a loss of 27.5 billion yen. Thus, there is need to carefully monitor further performance. Therefore, we regret that we cannot pay the interim dividends to shareholders, but we would like to ask for their understanding in this situation.
For the year-end dividends for the fiscal year ending March 2023, while we must keep a close eye on the geopolitical risk or the fuel price hike risk, we will aim for achieving our profit target and dividends payment for the fiscal year ending March 2023, unless there occur significant negative events. We will update our forecast immediately when our performance becomes foreseeable.

2. Dividend Forecast

This table can be scrolled horizontally.
  Interim Dividend Year-End-Dividend Total
FY / March 2023 - undetermined undetermined
This table can be scrolled horizontally.

3. Dividend (Result)

This table can be scrolled horizontally.
  Interim Dividend Year-End-Dividend Total
FY / March 2022  -   -   - 
FY / March 2021  -   -   - 
FY / March 2020 JPY 55.00  -  JPY 55.00
FY / March 2019 JPY 55.00 JPY 55.00 JPY 110.00
FY / March 2018 JPY 52.50 JPY 57.50 JPY 110.00
FY / March 2017  -  JPY 94.00 JPY 94.00
FY / March 2016  -  JPY 120.00 JPY 120.00
FY / March 2015  -  JPY 104.00 JPY 104.00
FY / March 2014  -  JPY 160.00
(*1JPY 80.00)
JPY 160.00
(*1JPY 80.00)
FY / March 2013  -  JPY 190.00
(*1JPY 95.00)
JPY 190.00
(*1JPY 95.00)
This table can be scrolled horizontally.

*1 JAL undertook a two-for-one stock split of its common shares as of October 1, 2014, and each dividend recalucurated as such.

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