Japan's ANA Holdings faces uphill battle to lift valuation

Aviation group bets on international travel to propel post-COVID ambitions

All Nippon Airways parent ANA Holdings is adding new international routes to Europe and elsewhere in a bid to lift profit. (Photo by Kosaku Mimura)

AKINORI KAMATA, Nikkei staff writer

September 17, 2024 14:36 JST

TOKYO -- Japanese aviation group ANA Holdings has set an ambitious goal of raising its stock price to double its book value for the first time in over a decade, though the financial blow from COVID-19 and large-scale investments stand in the way.

ANA's group net profit climbed 76% for the year ended March to a record 157 billion yen ($1.11 billion), propelled by Japan's influx of foreign tourists and a strong demand for domestic travel. The group operates All Nippon Airways, a leading Japanese airline, as well as budget carrier Peach Aviation.