JAPAN AIRLINES CO LTD

I would like to thank our customers who fly with JAL Group, our shareholders in Japan and abroad, and our business associates with whom we have the pleasure of doing business for your continued patronage and support.

On the birth of the NEW JAL, we set up three management targets as mentioned in the JAL Group Medium Term Management Plan for Fiscal Years 2012 – 2016.

[Management Targets]

1. Recognizing that flight safety is the foundation and social responsibility of JAL Group, we will maintain the highest standards of safety as a leading company in safety in the transportation sector.
2. We will provide customers with unparalleled service that is always refreshingly inspirational, and aim to be rated No. 1 for Customer Satisfaction by FY2016.
3. We will achieve a profit margin of 10%+ for 5 consecutive years and an equity ratio of 50%+ by FY2016 as targeted profitability and financial stability levels to absorb impacts of economic fluctuations and event risks.

In order to steadily achieve these targets by FY2016, management and staff have worked together to maintain flight safety and meet new challenges, such as launching new Sky Suite aircraft on international routes and JAL Sky Next on domestic routes, and introducing the inflight Internet service, JAL Sky Wi-Fi. As we have received favorable customer feedback and consistently posted positive financial results, we will keep these three management targets as they are and continue to pursue them.

With gratitude in our hearts and never forgetting your support, every JAL Group staff will strive to empathize with each customer to provide service that fulfills individual wants and needs. In addition to waiting for delivery of new aircraft, the Airbus A350 and the Mitsubishi Regional Jet (MRJ), we will continuously think of ways to improve customers’ comfort and convenience and boldly embrace new challenges.

Step by step, we will move forward to realizing our dream of becoming “the customers’ most preferred and valued airline group.”

I would appreciate your continued patronage and support of JAL Group.