AFC

ReportFiscal year ended March 31, 2024
April 1, 2023 March 31, 2024

AIRPORT FACILITIES CO., LTD.
Ticker Code8864

Message from the President
While taking the airport-related businesses
as an important business foundation, we will
accelerate our efforts in non-airport areas,
striving for the early achievement of theMedium- to Long-Term Management Plan.
President and Executive Officer

1

Overview of the fiscal year under review

The Medium- to Long-Term Management Plan

We would like to express our sincere thanks to shareholders
and investors for their continuous support.
While the Japanese economy continued to be on a gradual
recovery trend as the economic activity has been recoveringfrom the COVID-19 crisis, we still need to carefully monitor
risks such as surging prices and global situation, etc.
In the aviation industry, supported by strong inbounddemand and leisure demand following the lifting of movement
restrictions in Japan, the number of passengers showedfavorable growth in both domestic and international flights,
and we expect that strong passenger demand will continue.
Under this environment, for the fiscal year ended March 31,
2024, the Group achieved both increased sales and profit with
net sales of ¥25.95 billion, operating income of ¥3.18 billion,
ordinary income of ¥3.17 billion, and profit attributable toowners of parent of ¥2.02 billion.
Reflecting this performance, we increased the year-end
dividend from the intended level at the beginning of theyear by ¥3 to ¥10, resulting in an annual dividend of ¥17
per share.
The maintenance of a stable management foundation andstrengthening of our financial standing remain our basic
philosophy, and we will provide stable and continuous returnof profits to shareholders while aiming for a payout ratio ofover 40%

In the airport-related businesses, which is the Company’sbusiness foundation, we worked to improve the profitability ofexisting properties while establishing the fresh products
center in the domestic cargo terminal area of Tokyo
International Airport.
Furthermore, the Group announced the Medium- to LongTerm Management Plan in May 2022. In the non-asset
business, which is one priority measure, we have alreadyacquired a total of five buildings and are raising property
values through value enhancement works, etc. In future, wewill also have a view towards the sale of real estate for sale,and strive for further business expansion.
We have also actively worked towards solving social issues
through our businesses such as in efforts for reducing CO2
emissions and for the utilization of new energy, needed tocontribute to the realization of a sustainable society.
While taking the airport-related businesses as an importantbusiness foundation, we will continue to accelerate our efforts
in non-airport areas to achieve sustainable growth andimprove corporate value, and all officers and employees will
strive for the early achievement of the Medium- to Long-Term
Management Plan.
We would like to ask for the continuous understanding andsupport of our shareholders and investors.

FY2023 Performance Highlights
Net sales
23,777(¥ Million)

25,516

Operating income
3,280

25,950

Profit attributable toowners of parent(¥ Million)(¥ Million)

2,020

3,183
2,503

1,564
821

2022/32023/32024/3

Net sales increased, mainly because there was acontinued recovery trend in water supply anddrainage usage due to an increase in the numberof airport users, despite a decrease in net sales
as a consequence of sales of hotels and an
office building for lease in the previous term.

2022/3

Cash flows

2020/37,619

2021/32022/32024/32023/32024/3

Ordinary income increased mainly due torecording of gain on investments in silent
partnership, etc. by an aircraft leasing fund anda decrease in provision for removal cost related
to various constructions, and profit attributableto owners of parent was ¥2,000 million.

Dividends

EBITDA + recovery
7,835

2023/3Operating income increased mainly due todecreased raw material expenses as energy
prices in the area heating & cooling businesstrended lower than in the previous term.

(¥ Million)

7,464

2022/37,535

2023/3

Cash dividends per share

7,901

2024/3

Both net sales and operating income increased in the fiscal year ended
March 31, 2024. Even viewed in terms of EBITDA + recovery*, our cash
flows show a steady trend, meaning that profitability remains stable.
*EBITDA + recovery = (Operating income + depreciation expense) + recovery +leasing costs
Recovery refers to the principal amount repaid on the loan.

17
10

14
7

14
7

7

7

7

2022/32023/32024/3■Q2■Year-end(¥)

Cash dividends per sharefor 2024/3

17¥(Consolidated payout ratio: 42.2%)

For the fiscal year ended March 2024, we delivered year-end
dividend of ¥10 per share, which was ¥3 higher than the originalplan, and an annual dividend of ¥17 per share, as we secured profit
levels that exceeded the plan.
While we focus on maintenance of stable management base andenhancement of financial strength, we also strive to provide stable
and continuous return profits to shareholders with the dividend
payout ratio of over 40%.

2

Business Outline by Segment

As a business portfolio, we are engaged in businesses such
as Real Estate Business mainly in airports and regions near
the airport, Area Heating and Cooling Business that support
airport infrastructure, and Water Supply and Drainage Service
and Other Businesses.
While we have been deploying business in Tokyo
International Airport and other major airports across Japan aswell as airports abroad, we are also developing businessoutside airports more recently to expand our fields ofactivities.
Net Sales by
Business
Segment

Real EstateBusiness
不動産事業
Net sales
24/3(¥ Million)

Net sales

Net sales were mostly flat supportedby the promotion of our non-asset
business, among others, although wesold certain assets such as hotels in
the previous term. Meanwhile,
operating income increased due to adecrease in depreciation, etc. related
to sold facilities and an improvementin profitability in existing facilities.

15,0000

22/3
Real EstateBusiness

75.1%

Area Heating &Cooling BusinessCore business

13.3%

Other regional airports

Outside Airport/Overseas

5.7%

13.3%

Major companies

Tokyo
International
AirportKansaiInternational
Airport

77.8%

1.8%

New Chitose

24/3

Leasing of real estate such as multi-purpose
general buildings, aviation-related facilities( han g ar s , main t e nanc e pl an t s , e t c. ),apartments, etc. in airports in Japan and abroad
and regions along the railway line connected tothe airport, and revolving business● Airport Facilities Co., Ltd.
● AFC Asset Management Co., Ltd.
● AFS PROPERTIES PTE.LTD.

Recent investments● Gofukukan● Nihonbashi-Hamacho 2-Chome Building● Sakura Front Ichibancho(Former name Ichibancho 27 Building)

Map of airports where our facilities are locatedCentral Japan Int’l(Centrair)

23/3● AIRPORT FACILITIES ASIA PTE. LTD.

(24/3)

1.4%

1.2%)

Operating income

20,000

5,000

11.6%

Osaka
International
Airportbillion (-10,000

Water Supply &Drainage Service
and Other Business(24/3)Net Sales by
Region19.4¥● Fresh Product Center

Canada:Langley

Osaka Int’l (Itami)
SendaiKobe
Kitakyushu

Tokyo Int’l (Haneda)
Kansai Int’l
Hiroshima Heliport

FukuokaKagoshima

3

Singapore: Seletar

Naha

Nihonbashi-Hamacho 2-Chome Building

Sakura Front Ichibancho

Fresh Product CenterArea Heating & Cooling Business3.4

Net sales¥

24/3(¥ Million)

Net salesbillion (+Both net sales and operating
income increased because sales
from cold/heat energy supply
increased from the previous
term mainly due to the intense
summer heat and also because
raw material expenses declined
owing to lower energy prices.

2,000
1,000
0

23/3

Core business

Major companies
Recent investments

24/3

Net sales● Tokyo Airport Heating & Cooling Co., Ltd.
● Upgrading transformer facilities● Upgrading refrigeration machines

Areas covered by our heating and cooling system in Tokyo International Airport

billion (+Water supply and drainage usage
increased due to the recovery in thenumber of travelers and the opening of
hotels, among others, within Tokyo
International Airport. The sharedtelecommunications business at Tokyo
International Airport also showedsteady growth. As a result, both net
sales and operating income increased.

2,000
1,000
0

23/3

Core business

Major companies
Recent investments

24/3

Water supply and drainage business at Tokyo International Airport
and New Chitose Airport, Shared telecommunications business at
Tokyo International Airport, and solar power generation business● Airport Facilities Co., Ltd.
● AIRPORT FACILITIES ASIA PTE. LTD.
● Solar‌
power generation facilities at engine

maintenance plant in Singapore

Areas covered by our water supply & drainage and shared telecommunication system in Tokyo International Airport

Runway D

Runway D

Runway C
Domesticcargo area
Runway B

Former aircraft
maintenance area
(1-chome district)Domestic
passengerarea

26.3%)

Operating income

3,000

22/3

Provision of cooling and heating functions
at Tokyo International Airport (area heating
and cooling business)

¥

24/3

(¥ Million)

3,000

3.0

Net sales

1.4%)

Operating income

4,000

22/3

Water Supply & Drainage Service and Other Business

Runway C
New aircraft
maintenancearea

Runway A
International passenger
and cargo area

Domesticcargo area
Runway B

Former aircraft
maintenance area
(1-chome district)Domestic
passengerarea

New aircraft
maintenancearea

Runway A
International passenger
and cargo area

Water supply and drainage area

Shared telecommunications area

Energy Center

Electric turbo refrigerator machine

Water supply & drainage facilities in the reclaimed land area offshore

Shared telecommunication server4

To p i c 1

Action to Implement Management that is Conscious of Cost of Capital and Stock Price

Since its foundation, our company has been providing facilities essential for the operation of aircrafts and area heating
and cooling service as an infrastructure within the airport, to air carriers and aviation/airport-related companies, mainlyin Tokyo International Airport, and possesses a stable profit base. Also, in order to create further corporate value, ourcompany is also putting our efforts into expanding businesses outside airports, as disclosed in the FY2022-FY2028
Medium- to Long-Term Management Plan.
PBR of our company is 0.52, and ROE is3.5% (FY2023). While the business model toProfit is stable because our main business is real-estateleasing and infrastructure provision mainly in airports.

recover invested capitals in the long term isReal estate businessstable, we also recognize the necessity offurther improving capital efficiency,
considering recent requirements.
Our company is currently working on the◦Hangar◦Cargo terminal◦In-flight meal factory◦Training facility for crews

Infrastructure◦Area heating & cooling business◦Shared telecommunication◦Water supply and drainage

Medium- to Long-Term Management Plan,and is aiming to improve ROE and PBR throughits target of ROA 5%, based on the recognitionof the issues of our companies andAirport = public land

requirements from the Tokyo Stock Exchange.

Improvement of ROA
Improvementof ROE

Nurturing expectation
for growth
Reduction of the cost ofshareholder’s equity

L inkage with priority measures in theMedium- to Long-Term Management Plan

Roadmap towards achieving the Medium
ROA- to Long-Term Management Plan

Financial and capital strategy
While maintaining the financial soundness, growthinvestment utilizing liabilities will be implemented.

ROA
ResultsD ividend increase linked to profit(Payout ratio of over 40%)
Changes in shareholder benefits(July 2023)

3.4%

FY2021

Stable expansion of shareholder return

Target5.0%

FY2028

ROA = business proﬁt (operating income + non-operating income) ÷ total assets

Reinforcement of management base romotion of dialogues with investorsPand information disclosure*For details, please refer to the financial results briefing material for the fiscal year ended March 31, 2024.

5

To p i c 2

Change in business segments reported

Effective April 1, 2024, we will change our segments as follows from the perspective of appropriately managing andevaluating the progress of the Medium- to Long- Term Management Plan.

New segment

Old segment
Segment

Main business

Segment

Main business

Real Estate Business

Real estate leasing, etc.
within/ outside airports
Non-asset business
Overseas businessAirport Real EstateBusiness

Real estate leasing, etc.
within airports

Area Heating & CoolingBusiness

Supply of area heating
and cooling service

Non-Airport Real Estate Real estate leasing, etc.
outside airports
Business
Non-asset business

Operation of water supply andWater Supply & Drainage
drainage service
Service and Other
Shared telecommunications
Business
Solar power generation

Airport Infrastructure
Business

Supply of area heating andcooling service
Operation of water supply anddrainage service
Shared telecommunications

Other Business

Overseas businessSolar power generation

Reference: Forecast for the fiscal year ending March 31, 2025 (Net sales)

Under the business portfolio strategy set out in theMedium- to Long-Term Management Plan, the company
has been strengthening airport-related business andexploring new business opportunities to develop a profit
foundation toward further growth and to create value(¥ Million)

30,000■ Other Business■ Airport Infrastructure Business

Water Supply & Drainage Service
and Other Business
Area Heating &20,000
Cooling Business■ Non-Airport Real Estate Businesswithin and outside airports with an aim to achievesustainable growth.
While appropriately managing and evaluating ourbusiness progress and aiming to expand and diversify

10,000Real Estate Business■ Airport Real Estate Businessour profits, we are working to develop a capitalefficiency-conscious business portfolio that is resilient
to risks.

02024/32025/3(Forecast)*For details of the forecast for the FY2024, please refer to page 10.

6

Recent Efforts

A fresh products center stars full operation

Tokyo International Airport

In March 2024, construction was completed on a fresh products center
within the domestic cargo terminal area of Tokyo International Airport,
maintained and operated by the company.
This is a specialized facility mainly handling fresh food products such as▲ Overall view

seafood products and vegetables, and flowers, among others. The centeris expected to improve the efficiency of the delivery and receipt of cargo
by consolidating locations of the tenants handling fresh products, and also
expected to improve safety by reducing traffic flow in the area.
In addition to contributing to improving the quality of handling air cargo,
we will work to enhance our stable business foundation within the airport.

Voice

From Cargo Planning Division, Airport Business Department▲ Tuna packaging process▲ Cold-storage facility

In this domestic cargo area, we aggregate a wide variety of fresh food products for the major consumption region of Tokyo byleveraging the key characteristic of air cargo, speed. The company rents warehouses, the connection point between air and groundshipping, to other companies, with some of them used for fresh food storage. From around 2017 to 2020, fresh food product tenants
increased their floor space as the flow of fresh food cargo expanded from only the wholesale market route to direct shipments toretailers such as supermarkets.
However, as we were experiencing inefficient operations mainly due to the scattered locations of warehouses used for fresh foodstorage within the area and the increased number of forklift operating lines, we worked to consolidate warehouses used for fresh
food storage and to improve refrigeration machines, among others, given both the issue of labor shortages and quality improvements
such as temperature management.
We would be extremely happy if this facility could contribute to strengthening both the networks and the capabilities of Tokyo
International Airport.

Upgrading refrigeration machines forTokyo Airport Heating & Cooling Co., Ltd.

Tokyo International Airport

Our group company Tokyo Airport Heating & Cooling Co., Ltd. is upgrading
refrigeration machines that are due for upgrades.
Recently, newly-introduced electric turbo refrigeration machines havebecome able to use non-chlorofluorocarbon gas as a refrigerant with anextremely low environmental burden, and efficient operational adjustments in
response to the environmental burden have also become possible. As such,
we expect up to a 60% efficiency improvement on an individual refrigerator
unit level. These machines are scheduled to come into real operation in
August 2024. We will continue to work to provide stable supply while using
equipment that is friendly to the global environment.

7▲ Electric turbo refrigerator machineInitiatives for ESG/SDGs

Hydrogen forklift matching business being operated
For two months starting in December 2023, at the domestic cargoterminal area of Tokyo International Airport, we implemented a trial
use of fuel-cell forklifts (“FCFL”) using hydrogen as fuel after being
adopted as a trial company through public bidding with the city ofTokyo.
Since FCFLs produce zero CO2 during operations and can be
charged in around three minutes with hydrogen, they offer bothbetter environmental performance and convenience than traditional
engine- or battery-type forklifts.

▲ FCFL

After the trial, we received feedback demonstrating the appeal of
FCFLs, including that the charging time is short and that there is noneed for battery replacement, although the operability has some▲room for improvement.
We will continue to proactively search for methods that

FCFL charging

contribute to realizing carbon neutrality.

Leader training and job class-specific training held
We held internal training for all officers and employees of the AFC
Group companies as part of our human resource development andawareness-raising activities.
At the training, we presented an overview of the aviation industry
including our business details, deepened understanding on a wide rangeof themes including DE&I, considered the future of the company beyond
the confines of the Group, and held an opinion exchange session.

Voice▲ Company training

From the human resource development and awareness-raising project teamIn the previous fiscal year, we launched the human resource development and awareness-raisingproject team, and the most recent training session included all officers and employees, including
those from Group companies. The training session curriculum included future changes in thebusiness environment surrounding the aviation industry, DE&I, and the current status and issues in
our Medium- to Long-Term Management Plan. The session made for a good opportunity to reconfirm
the Group’s goals. This was the first large-scale training session like this held at the company, andthe project team will use this as an opportunity to plan more similar events in the future.

8

Initiatives for ESG/SDGs

Environment Social

E

S● Generation and self-consumption of electricity

from renewable energy sources through the
installation of solar panels in Japan and abroad● Providing a facility to treat aircraft sewage (SD plant)● Purifying discharged water at aircraft washing facilities● Reducing water use through the usage of water-saving

devices and the use of recycled water

Selter Airport, Singapore● Installation of LED lighting● Supporting TCFD recommendations● C onducting a comprehensive disaster drill within

Tokyo International Airport● D onating stockpiles for disaster prevention to
local government

Donation to Ikeda City, Osaka Prefecture

SD plant, Kansai International Airport● Reducing the use of paper through the utilization of IT

digitalization● Implementing Compliance training by lawyers● Implementing interviews with physicians

specializing in mental health once every month● P romoting D&I (In-house training, childcare leave

for fathers after birth, etc.)● D onating lunch boxes made in an in-flight meal factory torestaurants providing free or inexpensive meals to children

Governance

G

9

●E
 stablishing a risk control legal compliance system through the organization of Risk

Management Committee and Compliance Committee●U pdating the corporate governance report● Improving governance by holding a meeting of the Board of Directors once a month●E valuating the board of Director’s effectiveness●E nsuring the transparency of management through dialogues in financial results briefings,

small meetings, etc.

●E stablishing a strong and appropriate governance structure with greater managementtransparency based on the issues reported by the Independent Verification Committee andits recommendations for improvement

Outlook for FY2024 Performance

Forecast on the consolidated performance❶(¥ Million)

29,41425,95024/3 (Results)

❷

3,403

3,183

25/3 (Forecast)❸

3,175 3,205

❹

2,020

Outlookfor
FY2024

We will accelerate the initiatives of the Medium- to Long-Term
Management Plan, such as promoting the non-asset businesswhile working to enhance our stable business foundation within
airports, aiming to further improve our business performance.

❶ (Net sales)

2,193

We expect net sales to increase 13.3% from the previous term due
to operation of the fresh product center in the cargo area andreview of the lease terms of the existing properties while looking toan increase in rental revenue and the selling of properties in the
non-asset business.

❷ (Operating income) Although we expect an increase in depreciation and repair cost in
relation to capital investment, we expect operating income toincrease 6.9% from the previous term due to an increase in net
sales.

Net sales

Operating income

Ordinary income Proﬁt attributable toowners of parent❸ (Ordinary income)We expect ordinary income to increase 0.9% from the previous term
mainly as we expect an increase in return on investment in nonoperating income due to full-year operation of the aircraft leasingfund.

❹(Profit attributable to We expect profit attributable to owners of parent to increase 8.5%
from the previous term, as we anticipate an increase in income
owners of parent) based on the above factors and no recording of significant
extraordinary income or extraordinary loss.

EBITDA + recovery(¥ Million)

❶

7,835

7,619

7,464

7,535

7,901

8,470

Dividend forfiscal year
ending March
2025

After a comprehensive assessment of our financial conditions,
toward our goal of maintaining a stable consolidated payout ratioof 40% or higher, we expect to pay out an annual dividend of ¥18
per share, exceeding that of the fiscal year ended March 31, 2024

❶ (Fiscal year ending March 2025)
As for the fiscal year ending March 31, 2025, an increase by 7.2% from theprevious term is expected due to an increase in operating income, and thecompany’s cash flow is also expected to trend strongly.
*EBITDA + recovery = (Operating income + depreciation expense) + recovery + leasing costs
Recovery refers to the principal amount repaid on the loan.

2020/32021/32022/32023/32024/32025/3(Forecast)10Outline of the Consolidated Financial Statements for the Fiscal Year Ended March 31, 2024
Outline of consolidated balance sheet(¥ Million)❶ Total assets❶ Total assets
110,461

100,403

Current liabilities

Current liabilities
Current assets

28,881

Current assets

9,865

38,492

Non-current
liabilities

71,521❶ (Assets) Total assets increased by ¥10,058 million to ¥110,461
million, mainly due to an increase in real estate for sale innon-asset business, an increase in cash and deposits due tofinancing, and an increase in investment securities as aresult of additional investment in an aircraft leasing funddespite a decrease in property, plant and equipment due todepreciation of buildings and asset retirement assets.

10,054Non-current
liabilities

39,641

33,168Non-current
assets<Financial position as of March 31, 2024>

Non-current
assetsNet assets

71,96957,368❷ (Liabilities) Total liabilities increased by ¥6,661 million to ¥49,695
million, mainly due to increases in long-term loans payable
related to purchase of real estate for sale and in accounts
payable related to renovation work, etc.

Net assets

60,765❸ (Net assets) Total net assets increased by ¥3,396 million to ¥60,765
As of March 31, 2023

million, mainly due to an increase in retained earnings. As aresult, equity ratio decreased by 1.9 points to 52.6%.

As of March 31, 2024

Outline of consolidated cash flow statement(¥ Million)❸❶

Cash ﬂows
fromoperatingactivities784△ 3,8318,598❷❷ Net cash used in investing activities was ¥3,831 million (previous fiscal

5,101
10,849Cash ﬂows frominvesting activities

Cash andcash equivalents
at beginningof 24/3

11❶ Net cash provided by operating activities was ¥784 million (previous

fiscal year: ¥2,017 million provided) mainly attributable to recording ofincome before income taxes, noncash items such as depreciation, anda decrease in operating loans despite an increase in inventory due topurchase of real estate for sale.

Eﬀect of exchange
rate change
Cash ﬂows on cash andcash equivalents
fromﬁnancing
activities
82

and❹cashCashequivalents
at endof 24/3

year: ¥1,198 million provided) mainly attributable to purchase of noncurrent assets and purchase of investment securities in relation toadditional investment in an aircraft leasing fund.

❸ Net cash provided by financing activities was ¥5,101 million (previous

fiscal year: ¥4,460 million used) mainly attributable to proceeds fromlong-term loans payable associated with purchase of real estate forsale despite payments of long-term loans payable and payment ofcash dividends.

❹ As a result, cash and cash equivalents as of March 31, 2024 increasedby ¥2,250 million to ¥10,849 million.

Financial Highlights (Five Years)
Net sales (¥ Million)
24,855

24,155

Operating income (¥ Million)
23,77725,51625,950

4,186

3,831

Ordinary income (¥ Million)
3,183

3,280

3,802

3,617

20/3

21/3

22/3

23/3

24/3

Proﬁt attributable to owners of parent (¥ Million)
2,227
1,564

2,020

20/3

21/3

22/3

20/3

21/3

22/3

Total assets (¥ Million)

13,373

104,483

24/3

20/3

100,429 102,468

22/3

23/3

24/3

20/3

21/3

22/3

23/3

* Business investment in plant and equipment/Amount invested = Business investment in plant andequipment + Lease receivables and investment assets + Investment securities (partial) + Realestate for sale + Operating loans

Equity ratio (%)

55,30657,368

21/3

22/3

22/3

23/3

52.1

51.4

54.5

52.6

24/3

20/3

21/3

22/3

23/3

24/3

7,835
2.7

0.669

0.663

0.553

7,619

7,464

7,535

20/3

21/3

22/3

0.498

23/3

■■ Annual dividend

7,901

3.3

14.00

14.00

85.1
14.00

21/3

22/3

23/3

24/3

20/3

21/3

22/3

23/3

24/3

*EBITDA + recovery = (Operating income + depreciation expense) + recovery +leasing costs
Recovery refers to the principal amount repaid on the loan.

20/3

21/3

22/3

Payout ratio

17.00
44.7

*ROA = business proﬁt (operating income + non-operating income)/Total assets

24/3

14.00

31.2
20/3

24/3

Annual dividend (¥) /Payout ratio (consolidated) (%)

EBITDA + recovery (¥ Million)
3.4

23/3

60,765

ROA （%）
4.0

110,461

Debt to equity (Times)

0.584

4.3

100,403

1,995

51.5

21/3

24/3

8,106

Net assets (¥ Million)

20/3

23/3

4,284

21/3

54,964

24/3

11,127933

56,333

2,121

Business investment in plant and equipment/
Amount invested (¥ Million)

821

20/3

23/3

3,175

2,962

2,503

23/3

42.2

24/3

* Payout ratio: not announced for the ﬁscal year with bottom-line loss.

12

To Our Shareholders

Report on the General Meeting of Shareholders
As for the results of the 55th General Meeting of
Shareholders held on June 27, 2024, please checkthe website of our company.
We would like to ask for further understanding

Please access the notification on the
resolutions from here.
https://www.afc.jp/english/ir/stock/meeting.html

and support from our shareholders.

Report on Facilities observation tour

Newsletter service

In April 2024, we held an observation tour of our facilities for our

We are offering an email newsletter

shareholders to deepen their understanding of the company’s

service to provide the latest

businesses. During the tour, our shareholders viewed our

information of our company.

facilities at Tokyo International Airport, and we received feedbacksuch as: “it was a great time getting to see the whole airport” andPlease register from the QR
below.

“it was interesting to be able to listen to explanations fromvarious perspectives.”
We will continue to facilitate a wide range of IR activities
including facilities tours to help our shareholders gain an evendeeper understanding of the company.

13

Please accesshere to register

Notification of shareholder benefits
To share our appreciation with our shareholders for their support and to allow them to experience the Group’sbusiness, we provide meal vouchers to our shareholders for Blue Corner UC, a restaurant operated by one of
our Group companies.
We hope you will visit Blue Corner UC to learn more about our business.

Benefit criteria
Meal vouchers will be issued to shareholders holding 100 shares (1 unit) or more of our company shares,
according to the number of shares held.
issued on the reference Portion issued on the reference
Number of shares held Portiondateof March 31
date of September 30

Annual Total

100 shares or more and less than 500 shares¥2,500 Vouchers ×1¥2,500 Vouchers ×1¥2,500 Vouchers ×2

500 shares or more

¥2,500 Vouchers ×2¥2,500 Vouchers ×2¥2,500 Vouchers ×4

Reference date Period of issuance
March 31

Late June

Valid period
From July 1 to the following June 30

September 30 Late November From December 1 to the following November 30

How to use
Please present the voucher at the time of payment. When the amount of payment is less than theamount of the meal voucher and the change is more than ¥1,000, a meal voucher worth ¥1,000 will
be provided. Please note that there will be no change for less than ¥1,000. Also, when the amount of
payment is more than the amount of meal voucher, please pay the difference.

Blue Corner UC, a restaurant from which you can watch airplanesBlue Corner UC is a restaurant located in the new aircraft maintenance area of Tokyo International Airport, lined withaviation and airport related facilities such as hangars and maintenance plants, and has been loved by people working
in the area. The restaurant is glass-walled to provide a fabulous view of the runways and airport terminals and is loved
by aviation enthusiasts as a perfect spot in the airport to enjoy viewing aircraft.
We invite you to enjoy the view of aircraft and a delicious meal and to experience the feeling of becoming one of
the airline and airport crew members.
Name of therestaurantBlue Corner UC

Address

Utility Center Building 2F,
3-5-10, Haneda Airport, Ota-ku, Tokyo

Tel

03-5756-9205

Opening
Hours

Weekdays 11:00 to 21:00 (L.O.19:45)(Closed on weekends and holidays)

you please checkofficial Instagram

AccessEasy access from Shin Seibijo Station on
the Tokyo Monorail Line.
*No parking is available. *Please take care, as this is adifferent station from Seibijo Station.

Service hours may change based on the
day’s restaurant reservations. We ask thatthe restaurant’s
account for thelatest information
before visiting.

14

Corporate profile (As of March 31, 2024)

Directors and corporate auditors (As of June 27, 2024)

Corporate NameAIRPORT FACILITIES CO., LTD.

EstablishedFebruary 1970

President and Executive Officer

Shigeo Tamura

Capital¥6,826.10 million

Executive Vice President

Hideo Miyake

Employees

124 (Consolidated)
106 (Non-consolidated)

Executive Vice President

Tadao Nishio

Senior Executive Officer

Osamu Sasaoka

Senior Executive Officer

Satoru Watanabe

Stock information (As of March 31, 2024)

Directors

Stock Listings

Tokyo Stock Exchange (TSE)
Prime Market (Ticker Code: 8864)

Outside Director

Takehiko Sugiyama

Total Number of
Shares AuthorizedOutside Director

Kayo Aoyama

124,800,000

Outside Director

Yasuo Miki

Total Number of
Shares Issued

52,979,350

Number of
Shareholders

17,817

Share Unit Number

100

Corporate Auditors

Composition of Shareholders

Full-time Statutory Auditor

Masaaki Komiya

Full-time Statutory Auditor

Takahiro Hama

Outside Statutory Auditor

Sawako Ueno

Outside Statutory Auditor

Hirotomo Suzuki

14.42%■ Financial Institutions
20.91%■ Other Japanese Corporations
42.93%■ Foreign Investors
14.94%■ Securities Companies
1.53%■ The Company (Treasury Stock)
5.27%■ Individuals

Major Shareholders
Shareholder

Number of Shares Owned Voting Rights Ratio (%)(thousands)

Japan Airlines Co., Ltd.

10,521

20.98

ANA HOLDINGS INC.

10,521

20.97

Development Bank ofJapan Inc.

6,920

13.79

The Master Trust Bank ofJapan, Ltd. (Trust Account)

2,902

5.78

NOTHERN TRUST CO.
(AVFC) RE IEDP AIF
CLIENTS NON TREATYACCOUNT

1,600

3.19

AIRPORT FACILITIES CO., LTD.