Consolidated Financial Results
for the year ended March 31, 2021

Overview of Consolidated Financial Results for FY2020
 Consolidated Balance Sheet(Note) The amounts shown are rounded down to the nearest million yen.

© 2021 ALL NIPPON AIRWAYS TRADING GROUP

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Overview of Consolidated Financial Results for FY2020
 Consolidated Statement of Income(Note) The amounts shown are rounded down to the nearest million yen.

© 2021 ALL NIPPON AIRWAYS TRADING GROUP

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Overview of Consolidated Financial Results for FY2020●In FY 2020, the COVID-19 pandemic brought about the worst economic crisis the Japanese economy has faced since the end of World War II. The “Corona Shock”
made both supply and demand sluggish and this reciprocal sluggishness resulted in a severe economic downturn. It has therefore turned out to be a completely
new kind of economic shock, as past economic crises have primarily affected either supply (e.g., the Great East Japan Earthquake) or demand (e.g., the financial
crisis of 2007-2008).
●The ANA Trading Group is in charge of a diverse range of ANA Group businesses, and given the current economic climate, it has been striving to increase revenue
from outside the Group by making various efforts based on its basic policy of improving its areas of expertise, aiming to satisfy customers, and developing a strong
market presence. These efforts include making the most of its strengths to expand its businesses and venturing into new business areas.
●However, the COVID-19 pandemic caused a sharp decline in air travel demand and this resulted in a significant decrease in our revenues and income, mainly in theairport duty free/airport store business and the in-flight services/sales business. (Actual operating income for airport duty free/airport store business: -4,899 millionyen (compared to -5,718 million yen in the previous fiscal year)) Fujisey also saw significant declines in its revenues and income after suffering from the drastic
drop in tourism demand and the postponement of the Olympic and Paralympic Games. (Actual operating income: -558 million yen (compared to -737 million yen in
the previous fiscal year)) Furthermore, in the airport store business, we closed a total of 9 unprofitable stores (1 store in Fukuoka, 3 stores in Naha, 1 store inKansai, 1 store in Saga, 2 stores in Komatsu, and 1 store in Toyama).
●On the other hand, we managed to secure revenue through a number of our businesses. The food business secured a high level of revenue mainly from the sale ofbananas and other products. Moreover, the electronics business achieved record high profits by capturing growing demand for semiconductors and electronicdevices, and the e-commerce business captured the stay-at-home demand. (Actual operating income for the food, electronics and EC businesses: 2,076 million yen(up 1,175 million yen from the previous fiscal year)) Additionally, in the first half of the fiscal year, A2Care products also experienced robust sales thanks to strong
demand preventing the spread of the COVID-19. However, the sharp drop in air travel demand has had a devastating impact on the entire Group, causing its
revenues and income to fall. This resulted in consolidated operating revenues of 82,487 million yen, down 56% from the previous fiscal year, and an operating
income of -4,301 million yen.
●As a result, the net income attributable to owners of the parent was -2,954 million yen.

 Consolidated Operating Results(Millions of yen)

FY2019FY2020ChangeOperating revenues

147,291

82,487▲64,804

Operating income

3,074▲4,301▲7,375

Ordinary income

3,654▲2,678▲6,332

Net income attributableto owners of the parent

2,112▲3,138▲5,250EBITDA※14,543▲2,859▲7,402※1 EBITDA = = Operating income + depreciation expenses© 2021 ALL NIPPON AIRWAYS TRADING GROUP

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Financial Highlights
Major Financial Figures(Millions of yen)

FY2016FY2017FY2018FY2019FY2020

Operating revenues

136,822

142,877

152,081

147,291

82,487

Operating income

4,591

4,250

3,804

3,074

▲4,301

Ordinary income

4,755

4,404

4,927

3,654

▲2,678Net income attributable toowners of the parent

2,862

2,829

3,088

2,112

▲3,138

Total assets

61,744

65,771

68,93564,75960,656

Net assets

26,00928,411

31,18531,06329,871

41.9

43.0

45.0

47.8

49.2

Equity ratio (%)

Trend in Operating Revenues and Net Income

Trend in Total Assets and Net Assets(Millions of yen)

(Millions of yen)

Operating revenues

160,000

152,081150,000
140,000

142,877

Net income
147,291

6,000

136,822

4,000
3,000

2,862

2,829

3,088

2,000

2,112

110,000

1,000

100,000

082,487

90,000-1,00080,000-2,00070,000-3,000▲ 3,138

60,000FY2016FY2017FY2018FY201970,0005,000

130,000
120,000

Total assets

FY2020-4,00061,744

65,771

Net assets

68,93564,75960,65660,00050,00040,00030,00028,411

26,00931,18531,06329,871

20,00010,0000FY2016FY2017© 2021 ALL NIPPON AIRWAYS TRADING GROUPFY2018FY2019FY20204