Value Creation Story

Tokyo International Airport, the Company’s business base, was returned to Japan in 1952, after having been taken over by theUnited States at the end of World War II. The original name, Tokyo Airfield, then was changed to Tokyo International Airport.
To restore its status as a gateway airport, Japan urgently had to expand the facilities to make them suitable for an international
airport capable of serving Japan’s capital, Tokyo. Japan Airport Terminal Co. Ltd. was established to meet this need, as well as toconstruct, manage, and operate terminal buildings using private capital provided by leading companies in Japan’s financial sector.
Based on the philosophy of harmony between the business and the society, for more than 70 years since its founding the Grouphas been responding to growing aviation demand. It has engaged in its backbone business of expanding and renovating passenger
terminal buildings; running ancillary businesses, such as airport duty-free shops; as well as operating merchandise stores and foodand beverage outlets. We will continue to respond to the demands of the times, and work to create attractive airports.

The Frontier spirit
Since its founding in 1953, the Japan Airport Terminal Group has created many first-of-the-kind services in Japan, to meet the needs ofcustomers and businesses as they adapt to changes over time. This frontier spirit remains an intrinsic part of the Group’s makeup.

Value Creation Story

1953

Japan’s first duty-free store

2004

1955

2020

Terminal 2commences
operation.

Haneda Airport Terminal
opens.

Terminal 2 (a private financeinitiative project) commences
operation.
Terminal 3’s expanded section
opens.

It develops into one ofTokyo’s most popularspots.

The international terminal isdeveloped for the Tokyo
Olympics.

250,000

2010Terminal 1commences
operation.

Passenger
traffic

Passenger traffic reaches the 10million mark.

Passenger
traffic

More than 40 million
passengers

Sales
Operating profit/loss

50,00010,000

Domestic flights:
31,504,000 passengers
International flights:
702,000 passengers

Domestic flights:
13,750,000 passengers
International flights:
6,251,000 passengers

More than 5 million
passengers

More than 1 million
passengers

Domestic flights:
50,416,000 passengers
International flights:
824,000 passengers

More than 30 million
passengers

More than 20 million
passengers

Passenger
traffic

More than 50 million
passengers

20,000Domestic flights:
60,696,000 passengers
International flights:
384,000 passengers

Passenger
traffic

Passenger
traffic

Passenger
traffic

Operating profit/loss(million yen)More than 60 million
passengers
Passenger
traffic

Domestic flights:
64,639,000 passengers
International flights:
15,642,000 passengers

Corporate governanceDomestic flights:
39,360,000 passengers
International flights:
828,000 passengers

100,000

Domestic flights:
62,163,000 passengers
International flights:
10,581,000 passengers

Passenger
traffic

The international arrival
terminal commences operation.

150,000

More than 70 million
passengers

More than 80 million
passengersMateriality Initiatives

1970

200,000Passenger
traffic

Terminal 3 (a private
finance initiative project)commences operation.
Terminal 3’s expanded
section opens.

The terminal building morethan doubles in size.

Special Feature

1993

1964

Sales (million yen)Japan’s first rental car business is launched.

Medium-term Business Plan

Japan’s first airport limousine bus

Japan Airport
Terminal Co., Ltd.
established withprivate capital.

The future we seek

Our history of value creation and future with Haneda Airport

Domestic flights:
3,379,000 passengers
International flights:
1,756,000 passengers

Domestic flights:
1,030,000 passengers
International flights:
490,000 passengers

Data

1953

Total floor area

18,803m2

15

1960

1970

Total floor area

56,935m2

Total floor area

109,300m2

1980

1990

2000

Total floor area

311,358m2

Total floor area

300,000m2

2010

2020

Total floor area Total floor area Total floor area Total floor area Total floor area

482,700m2 505,657m2

702,857m2 713,357m2 790,357m2-50,000

Japan Airport Terminal Report 2023

16

Value Creation Story

Under its basic policy to foster public–Group harmony byleveraging its strengths to provide value, the Japan Airport
Terminal Group is helping solve social issues as it aims with its
stakeholders to attain sustainable growth.

Domestic
population
decline/low birthrate and aging
population
Growth in Asia

Climate change

Innovation
Lifestyle changes

Natural disasters/
pandemics

Solutions tosocial issues
A Society where
people can movesafelyin a
comfortable way

Japan Airport Terminal Group

Risks and opportunities for management activities

Management Resources

Creating impact

Management activities
Philosophy:

Human andintellectual capital

Harmony Between the Business and the Society● Frontier Spirit(Application of new technologies
such as DX and robotics)

Business areas:

Merchandise
sales, foodand beverage

Facilities
management

Special Feature● High level of expertise andknowledge related to overall
airport operations

Newbusiness,
expertisebusiness

Manufacturing capital

Realization of vision (external outcome)Three Strategy Pillars

Social capital

Financial capital● Solid financial foundation

Establishing a foundation for regrowth

Measures to combat climate change

Achieve desired outcomes through thefundamental improvements made during
the COVID-19 pandemic

Effective use of limited resources
Development of a safe, comfortable, and advanced airport
Contribution to local and regional communities

Growth of airport business
Capture future airline demand

Human resource development
Promotion of diversity and inclusion, and respect for human rights

Expansion of earnings basePromotion of fair business activities

Broaden earnings base by developing
business in new fields

Results ofmanagement
activities(Output)

Strengthening of risk management

World-leading hospitality
Pleasant, stress-free journey
Safe and secure airport

Corporate governance

Results of management activities (Output)(internal outcomes)

Ensuring stability of earnings
and financial base17

Data

Strengthening our management resources

Eco-airport
Corporate governance● Efficient resource utilization

Investment ofmanagement
resources(input)

123

Becoming one of the mostadvanced,human- andeco-friendly airport by 2030

Materiality

Materiality Initiatives● Construction of user-friendly
terminal buildings

Natural capital

Medium-term Business PlanSociety

Sustainablegrowth of a
resilient aviation
network

Value Creation Story

Social issues/changes in the social environment● Strong relationships withbusiness partners● Ties to regions and communities

Japan wheretravelers wantto visitDecarbonizedsociety

The future we seek

Value Creation Process

Grouping human resources into professional groups,
maximizing organizational strength
Japan Airport Terminal Report 202318

Value Creation Story

Since its founding, the Japan Airport Terminal Group has accumulated capital—the source of its strength—byresponding to social changes and needs. We will pursue further value creation by strategically utilizing this capital.

highly specialized staff for airport operations. We are also

Construction ofuser-friendly andsophisticated terminalbuildings

seeking diversity among our human resources, including

We have taken full advantage of thewomen and individuals with experience outside the company.

excellent location of Haneda Airport,

Over the years, our organization has acquired and developed

which serves as a key transportation

Frontier Spirit(use of new technologies, such as DX and robotics)
In the ever-changing aviation industry, we value humanresources with a frontier spirit. To be flexible and proactive
corporate culture. By utilizing new technologies, such as DX
and robotics, we are working to improve the quality of ourservice and streamline airport operations.

acclaim from organizations around the world.

Percentage of female managers

41.6％

terminal buildings, we are able toaccurately respond to theever-growing demands of air

No. 1 in the world for 11 consecutive years

amenities for the numerous domestic
and international air travelers.

Haneda Airport passenger traffic

82.22 million passengers
Number of routes in service:

Domestic flights to 48 cities
International flights to 34 cities

Solid financial
foundation

The Company is designated by Japan’s
Ministry of Land, Infrastructure,
Transport and Tourism as an airport
functional facility operator, based on
the Airport Act of Japan. We have built
strong, long-term relationships with avariety of business partners, including
numerous airlines, tenants, and local
business branches. These connections
help us deliver results, including quality
services and customer satisfaction.

In conducting its business,

Based on our highthe company relies on

creditworthiness andnatural capital, such as themarket reputation, wesurrounding natural

have built a solid

environment andfinancial foundation byecosystems, for its energy

raising funds

and water. We are striving

effectively as needed.

to develop efficientThis allows us tobusiness operations so as

maintain flexibility andto mitigate oureffectively allocate

environmental footprint

funds for businessand our impact onexpansion.

Relationship with regions
and communities

biodiversity.

JAT’s brand value has won great
acclaim, thanks to its long history of
consistently excellent terminal building
management. By using our venue topromote regions and communities, weare deepening our relationships withthose regions and communities, whileat the same time working to help
revitalize domestic air travel.

FY2022 power usage

7 domestic airlines
37 international airlines

152,525 MWh

Equity ratio

Number of regional/community events held

FY2022 water resource usage

Net D/E ratio

Number of airlines in service

36701,698m

333.6％
Data

SKYTRAX World’s Best Domestic Airport

19enhance the functionality of our

Efficient resource
utilization

Corporate governance

2,499

In addition, by continuing topassengers and provide appropriate

Our human-powered airport operations have won great

Total number of employees(consolidated)

operation.

Strong relationships withbusiness partners

Materiality Initiatives

regarding new challenges and innovative ideas is part of ourhub, and are constantly reviewing its

Financial capitalSpecial Feature

Great expertise and knowledge regarding
airport operations

Natural capital

Medium-term Business Plan

Manufacturing capitalSocial andrelationship capital

Value Creation Story

Human and Intellectual Capital

Data handling: Numerical data in principle covers results for fiscal 2022. However, we have given the results for fiscal 2019, theyear immediately before the impact of the COVID-19 pandemic, for some items, such as passenger traffic at Haneda Airport andthe number of routes and airlines in service.

The future we seek

Capital realizes value creation

1.0 xJapan Airport Terminal Report 202320