ANA Holdings made a net income attributable to shareholders of ¥98.8 billion (US$882 million) in the fiscal year 2016, according to consolidated financial results released by the company.

According to ANA, net income from April 1, 2016 to March 31, 2017 was 7.4% higher than in the same period a year ago.

ANA Cargo’s international business generated ¥93.3 billion in revenue in fiscal 2016 (US$833 million), a year-on-year decrease of 17.7%. But the carrier transported 954,000 tonnes of international cargo, a year-on-year growth of 17.7%.

ANA said that revenue in the first half of the fiscal year was affected by the appreciation of the yen and lower fuel surcharges, but unit price improved in the second half and the carrier was able to capture demand between North America, Japan and China, as well as the rest of Asia.

In fiscal 2017, ANA Holdings said that it will further optimize the supply-demand balance and reduce the available cargo volume by 10% year-on-year by reorganizing its freighter network in line with the ongoing recovery in cargo demand.

The company is aiming to achieve profitability in the freighter business through targeted marketing campaigns and improved efficiencies such as strengthened organizational structures overseas and enhanced technology.

In October 2017, logistics subsidiary OCS will open a new logistics centre in Tatsumi, Tokyo, and will roll out borderless e-commerce logistics across Asia, according to ANA Holdings.