ANA Group Releases First "Human Capital Story Book"
Emphasizing Value Created by Employees

  • • As a new initiative to demonstrate the connection between non-financial and financial matters to stakeholders, the ANA Group released its first "Human Capital Story Book."
  • • Using 520 indicators in a correlation analysis (the Value Relevance Analysis*), the ANA Group demonstrated that human capital measures and activities of employees are linked to financial and corporate value.
  • • The ANA Group will use the book for internal and external dialogue as the company deepens efforts to further enhance the most important capital: its human capital.
    • * Value Relevance Analysis: An analytical method that statistically analyzes correlations between indicators to verify a series of stories leading up to corporate value improvement.

TOKYO, April 18, 2025 - In an effort to visualize the connection between non-financial and financial matters, the ANA Group released the "Human Capital Story Book" on March 18, based on the belief that human capital is the source and driving force of value creation. The book reveals how investing in human capital drives significant financial and corporate value, including increased sales, profits and stock price indexes, fostering greater stakeholder empathy and employee engagement.

In cooperation with ABeam Consulting Ltd., the ANA Group recently conducted a correlation analysis - also known as a value relevance analysis - using 520 indicators to identify value and impact paths. The results from the analysis helped showcase direct financial and corporate value from human capital measures.

The analysis determined that company strength coupled with the ANA Group's emphasis on improving engagement and embodying "ANA's Way," the code of conduct, are important hubs in the value chain. Additionally, quantitative data indicated that the ANA Group's proficiencies in teamwork and front-line-driven value creation is linked to financial value. The book also showcases 21 specific episodes featuring examples where employees created value in day-to-day work, reinforcing the impact paths obtained from the value relevance analysis are "causal".

The ANA Group plans to use the "Human Capital Story Book" as a tool for dialogue with investors, group employees and other stakeholders, as well as linking it to human capital enhancement efforts. The ANA Group is committed to achieving its management vision, "Uniting the World in Wonder," and will continue to improve its corporate value through the efforts of its 40,000 employees.

More information on the ANA Group "Human Capital Story Book" can be found below and on the ANA Group's website.

  • ◆Contents of the Book (Table of Contents)
  • 1. Management Messages
  • 2. Inherited Strengths and Cultivated Strengths
  • 3. ANA's Way
  • 4. At a Glance
  • 5. Value Creation Cycle Based on Investment in Human Capital
  • 6. Policies to Enhance Human Capital
  • 7. Value Creation Driven by Human Capital Optimization
  • 8. Examples of Value Created by Human Capital
  • 9. Medium-to-Long-Term Human Capital Strategy
  • 10. Initiatives to Increase Productivity Focused on The Creation of Additional Value
  • 11. Leveraging Analysis of Engagement Surveys
  • 12. Initiatives to Eff¬ectively Leverage EX for CX
  • 13. Introduction and Utilization of The ANA Book App
  • 14. Becoming a Corporate Group that Sustainably Creates Value through the Power of People and Teamwork
  • 15. Messages from Investors and Experts

【ANA Group Human Capital Story Book】
https://www.ana.co.jp/group/en/csr/human_resources/pdf/human_capital_202503.pdf

About ANA HOLDINGS
ANAHD was established in 2013 as the largest airline group holding company in Japan, comprising 70 companies.
It offers three distinct airline brands: ANA, Peach, the leading LCC in Japan, and AirJapan, launched in 2024 for international routes covering Asia.

ANA's legacy of superior service has earned SKYTRAX's 5-Star rating every year since 2013, making it the only Japanese airline to win this prestigious designation for 12 consecutive years.

ANAHD has been selected as a member of the Dow Jones Sustainability World Index list for eight consecutive years and the Dow Jones Sustainability Asia Pacific Index list for nine consecutive years.

For more information about ANA and ANA HD, please visit: https://www.ana.co.jp/group/en/