ANA Holdings delays Nippon Cargo Airlines subsidiary date

ANA Holdings Inc. (TSE: 9202) announced a change to the timeline for its planned acquisition of Nippon Cargo Airlines Co., Ltd. (NCA) as a wholly-owned subsidiary through a simplified share exchange. The effective date, originally scheduled for March 31, 2025, has been pushed back to May 1, 2025. This delay is attributed to the time required for relevant authorities, including those in China, to complete their review of the business combination resulting from the share exchange. The agreement to amend the share exchange was executed on March 21, 2025. While the balance sheet and income statement will be consolidated starting in the fiscal year ending March 2026, the full impact of the Share Exchange on financial results for the fiscal year ending March 2026 is still under review, and will be disclosed as needed.