Japan Airlines (JAL) (TYO:9201) has firmly restated its position regarding its shareholder proposal to privatize AGP Corp., following AGP's public opposition, according to its Tokyo bourse filing on June 13.

JAL initially submitted its proposal for a share consolidation and other amendments to AGP's Articles of Incorporation in April.

In response, AGP expressed opposition, citing concerns over the proposal's legitimacy, procedural fairness, and the appropriateness of the proposed purchase price. JAL previously responded to AGP's questions in May, with all nine of its directors unanimously supporting the response.

JAL's core purpose for the privatization is to eliminate structural conflicts of interest between AGP and its major shareholders, namely JAL, Japan Airport Terminal and ANA Holdings.

Furthermore, JAL believes this privatization will enable AGP to make necessary mid- to long-term capital investments and strengthen recruitment, ultimately enhancing AGP's corporate value and contributing to the broader aviation industry's development.