Japan Airlines plans to issue bond-type preferred shares and intends to apply for listing on the Tokyo Stock Exchange Prime Market. Approximately five years of fixed dividends will be paid post-issuance, followed by variable dividends. These shares have no voting or conversion rights.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","meta":{"Ticker":"","DATE":"","longName":"","company_name_ja":"","fullTimeEmployees":0,"address":"","phone":"","website":"","industry":"","sector":"","regularMarketPrice":0,"financialCurrency":"","marketCap":0,"fiftyTwoWeekLow":0,"fiftyTwoWeekHigh":0,"epsTrailingTwelveMonths":0,"epsForward":0,"bookValue":0,"totalRevenue":0,"OperatingIncome":0,"operatingMargins":0,"NetIncome":0,"profitMargins":0,"ebitda":0,"trailingPE":0,"forwardPE":0,"priceToBook":0,"returnOnEquity":0,"recommendationMean":0,"recommendationKey":"","targetMeanPrice":0,"numberOfAnalystOpinions":0,"analyst_earnings_data":"","dividendRate":0,"dividendYield":0,"payoutRatio":0,"totalEsg":0,"environmentScore":0,"socialScore":0,"governanceScore":0,"title":"","providerPublishTime":"","link":"","longBusinessSummary":"","longBusinessSummary_ja":"","quarterly_revenue":0,"quarterly_net_income":0,"quarterly_operating_profit":0,"enterprise_value":0,"company_officer_1_name":"","company_officer_1_title":"","company_officer_2_name":"","company_officer_2_title":"","company_officer_3_name":"","company_officer_3_title":"","company_officer_4_name":"","company_officer_4_title":"","company_officer_5_name":"","company_officer_5_title":"","company_officers_update_time":"","get_dividend_history_year1":0,"get_dividend_history_year2":0,"get_dividend_history_year3":0,"get_dividend_history_year4":0,"get_dividend_history_year5":0,"get_dividend_history_year6":0,"get_dividend_history_year7":0,"get_dividend_history_year8":0,"get_dividend_history_year9":0,"get_dividend_history_year10":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jir_stock_code":"9201","jir_company_name":"Japan Airlines Co., Ltd.","jir_importance":"\u2605\u2605\u2605\u2605\u2606","jir_publication_date":"2026-03-02","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/03\/9201-20260302-02.pdf","jir_short_summary":"Japan Airlines plans to issue bond-type preferred shares and intends to apply for listing on the Tokyo Stock Exchange Prime Market. Approximately five years of fixed dividends will be paid post-issuance, followed by variable dividends. These shares have no voting or conversion rights.","jir_summary":"### Characteristics of Bond-type Preferred Shares\nBond-type preferred shares are shares under the Companies Act and are accounted for as an increase in shareholders\u2019 equity. They do not have voting or conversion rights. Separate from common shares, they are planned to be listed on the Tokyo Stock Exchange Prime Market, intended to provide a broad range of investors with investment opportunities. The full issuance amount will be recorded as capital, with fixed dividends for approximately five years after issuance, followed by variable dividends.\n\n### Impact on Financial Indicators and Long-term Holding Benefits\nBond-type preferred shares suppress the impact on ROE and EPS related to common shares, and dividends and residual asset distributions take precedence over common shares. At issuance, they contribute to improving financial soundness, such as lowering the net D\/E ratio. As a long-term holding benefit, LSP points will be accumulated based on the number of shares held continuously until three record dates for preferred shareholders at the end of the first fiscal year after issuance, aiming to expand JAL fans and enhance brand value.","jir_financial_highlights":"Increase in Equity Capital after Issuance: The entire issuance amount is recorded as capital (Unknown)\nPreferred Dividends: Fixed dividends for about 5 years after issuance, then variable dividends (step-up 5%) (Unknown)\nVoting Rights: None (Unknown)\nConversion Rights: No conversion rights to common shares (Unknown)\nApplication for Listing on TSE Prime Market: Planned (Unknown)","jir_category":"","jir_hashtags":"#JapanAirlines, #CapitalPolicy, #BondTypePreferredShares","jir_key_figures":"Fixed dividends for about 5 years after issuance, then variable dividends (step-up 5%)\nNo voting or conversion rights\nLong-term holding benefit of up to 700 LSP points (for holdings of 5,000 shares or more)","jir_meta_title":"Japan Airlines to Issue Bond-type Preferred Shares; Applies for TSE Prime Listing with Fixed Dividends for 5 Years Followed by Variable Dividends","jir_meta_description":"Japan Airlines plans to issue bond-type preferred shares and apply for listing on the Tokyo Stock Exchange Prime Market. Fixed dividends will be paid for about five years post-issuance, followed by variable dividends, with no voting or conversion rights. Long-term holding benefits are also provided.","jir_og_title":"Japan Airlines Announces Details on Bond-type Preferred Shares Issuance","jir_og_description":"Explanation of bond-type preferred shares\u2019 characteristics, impact on financial indicators, and long-term holding benefits. Listing application on the Tokyo Stock Exchange Prime Market also planned.","jir_og_image_url":"\/assets\/og\/company-capital_policy.jpg","jir_chart_data_collection":"[]","ir_related_company":7492,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"capital_policy","footnotes":""},"sector":[],"importance":[],"class_list":["post-32627","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n