JAL proposes share consolidation to take AGP Corporation private

Japan Airlines (JAL), stock code TSE:9201, has announced a shareholder proposal to AGP Corporation (stock code 9377) aimed at making JAL, Japan Airport Terminal Co.,Ltd. (JAT), and ANA Holdings Inc. (ANAHD) the sole shareholders of AGP and taking AGP private. The proposal includes a share consolidation, amendments to AGP's articles of incorporation, and the election of new directors. As of December 31, 2024, JAL holds 4,115,400 AGP shares, representing 30.47% ownership. JAT and ANAHD hold 24.50% and 18.30%, respectively, bringing the total ownership by the "Three Shareholder Companies" to 73.26%. JAL proposes a price of JPY 1,550 per share for handling fractional amounts resulting from the consolidation. JAL has engaged Daiwa Securities to assess the share value of AGP. If approved, AGP shares will be delisted from the TSE, and the Three Shareholder Companies aim to enhance AGP's corporate value and support sustainable growth in the airport and aviation industry.