Toki Air has announced a new management structure that abolishes its co-representative system.
Masaki Hasegawa has been reappointed as Representative Director, while Toshinori Shin and Takafumi Horie have both been reappointed as Directors. Usayoshi Hirose has newly been appointed as a Director. The decision was made following the Annual General Meeting of Shareholders and the Board of Directors meeting held on June 23.
According to Kyodo News, the proposal to reappoint Naoki Wada, who had served as Co-Representative Director, was rejected at the shareholders’ meeting, leading to his resignation. The net loss for the fiscal year ending March 2026 is reported to be 2.4229 billion yen, resulting in excess liabilities of approximately 2.9 billion yen.
Naoki Wada had acquired 32.34% of Toki Air’s shares through LAND, an entertainment company for which he serves as representative. At a business strategy presentation held in October 2025, he announced new strategies including a charter flight business, a “super app” concept, and the manufacture of lightweight sports aircraft.
Toki Air was established in July 2020. The airline operates four routes using ATR aircraft, based in Niigata, Japan.
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