All Nippon Airways and First Eastern Investment (a self-proclaimed "pioneer of direct investments in China”) today announced the signing of a MoU to establish what they claim will be the “first Japanese low cost airline”. The decision is another part of ANA's strategy to become the dominant Japanese carrier while rival, Japan Airlines, reorganises out of bankruptcy protection. ANA overtook JAL as the largest Japanese carrier in Jun-2010 and plans to boost international flights by 15% in the current fiscal year after an increase in capacity at Tokyo Narita and Haneda Airports.