First Section of the Tokyo Stock Exchange(securities identification code: 8864)
http://www.afc.jp/

Results Briefing for Fiscal Year Ended in March 2019
May 23 (Thu), 2019

Airport Facilities Co., Ltd.

"Our Mission"
Our mission is to develop and provide necessary facilities and functions atairports, thereby contributing to the development of aviation as a vital
private company operating mainly at airports.
In-flight meal factory [Tokyo International Airport]

Component Maintenance Building[Tokyo International Airport]

Hangar [Kitakyushu Airport]

Helicopter maintenance facility[Langley Airport, Canada]Table of ContentsI.

Outline of the consolidated financial statements
for fiscal year ended in March 2019・・・ P1II.

Forecast on the consolidated performancefor fiscal year ending in March 2020

・・・ P6

III.

Topics・・・ P９AIRPORT FACILITIES CO., LTD.

I. Outline of the consolidated financial statements
for fiscal year ended in March 2019-- Key points --(Last fiscal year for the mid-term management plan)

1. Net sales and operating income surpassed the figure in the mid-term management plan
* Major factors of increase in net sales (real estate business)(1) Improvement of the state of tenants moving in at Haneda Airport(3) Start of the renting of hotels in Kyoto(2) All-year operation of hangar in Kitakyushu Airport(4) Contribution of subsidiary in Canada in consolidated accounting

2. Net sales: 24.2 billion yen (+ 6.2% year on year),
Operating income: 4.1 billion yen (+ 0.6% year on year), Net profit*: 2.1 billion yen (-5.2% year on year)* Major factors of decrese in net profit(1) Reserve for removal cost in preparation for new construction or extension or reconstruction in the future was recorded <non-operating cost>(in-flight meal factory, aircraft equipment warehouse, equipment for heat providing facilities)(2) Bond-issuing expenses for hotels in Kyoto were recorded <non-operating cost>(3) Loss on the retirement of cargo facility (one building) according to the installation of new national room for honored guests was recorded<extraordinary loss>

3. Year-end dividend: 7 yen (forecast), Annual dividend: 14 yen
Payout ratio (consolidated): 33.1% (forecast)* Net profit: Current profict attributable to owners of parent

1.

AIRPORT FACILITIES CO., LTD.I. Outline of the consolidated financial statements
for fiscal year ended in March 2019-- Consolidated PL --Net sales exceeded 24 billion yen for the first time in 9 years(since fiscal year ended in March 2010)
Year on year
+ 1,422 million yen+ 6.2%Net sales
23,69022,791

Unit: million yen

24,213

Uear on year
+ 26 million yen+ 0.6%

Operating income
4,103

4,180

4,129

20,0003,000
10,0000Compared to outlook+ 523 million yen+ 2.2%

0Mar/2018 (results) Mar/2019 (forecast) Mar/2019 (results)

Year on year
- 388 million yen- 10.4%

Ordinary income
3,726

3,850

Mar/2018 (results) Mar/2019 (forecast) Mar/2019 (results)

Year on year
- 115 million yen- 5.2%

Current profict attributableto owners of parent

3,338

2,219

3,000

2,290

2,104

2,000

1,500

0

Compared to outlook- 51 million yen- 1.2%

1,500

1,000

Compared to outlook- 512 million yen- 13.2%0Mar/2018 (results)

Mar/2019 (forecast)

Mar/2019 (results)

2Compared to outlook- 186 million yen- 8.1%
Mar/2018 (results) Mar/2019 (forecast) Mar/2019 (results)

AIRPORT FACILITIES CO., LTD.

I. Outline of the consolidated financial statements
for fiscal year ended in March 2019

Unit: million yen-- By business segment --: Net sales (bar graph): Operating income (line graph)Real estate business

Area heating and coolingbusiness

Water supply and drainage
business and other businesses

Year on year
(Net sales) + 1,166 million yen (+6.8%)(Operating income) + 185 million yen (+ 6.3%)

Year on year
(Net sales) + 33 million yen (+ 1.0%)(Operating income) - 247 million yen (- 23.9%)

Year on year
(Net sales) + 222 million yen (+ 8.4%)(Operating income) + 88 million yen (59.2%)

16,950(17,865 )

18,116

3,208
4,000

(3,180)

3,242

3,000

2,632

2,000

3,105

787

1,000
1,000

00

Mar/2018(results)

Mar/2019(forecast)

Mar/2019(results)

200

1,000

1,034

2,000
5,000

237

2,000

3,000

2,919

2,854

1,500

15,00010,000(2,651)0

1,000

Mar/2019(forecast)

100

500

0

Mar/2018(results)

148

Mar/2019(results)

00

Mar/2018(results)

Mar/2019(forecast)

Mar/2019(results)<Major factors for increase/decrease>[Net sales]- Improvement of the state of tenants moving in at Haneda Airport- All-year operation of hangar in Kitakyushu Airport- Start of the provision of apartment houses, new operation ofhotels in Kyoto- Contribution of subsidiary in Canada (AFN) in consolidated
accounting[Operating income]- Increase due to the effect of increase in net sales despite
increase in depreciation, etc.

[Net sales]- Sales of area heating and cooling in the offshore area ofHaneda Airport were generally unchanged* Due to extreme heat in summer and warm winter[Net sales]- Increase of water supply to various construction
works within Haneda Airport- Smooth operation of solar power generation
facilities (Heiwajima, Ota-ku)[Operating income]- Decrease due to increase in electricity and gas unit prices[Operating income]- Increase due to the effect of increase in net sales

3.

AIRPORT FACILITIES CO., LTD.

I. Outline of the consolidated financial statements
for fiscal year ended in March 2019-- Financial condition --[Consolidated balance sheet](Assets)
Increased with the acquisition of five hotel bulidings in Kyoto(Liabilities) Increased with the issuance of bonds associated with the acquisition of hotels in Kyoto and increase inlong-term debts(Net assets) Increased due to increase in retained earnings
FY ended in March 2019

FY ended March 2018
Unit: million yen

Current
assetsNoncurrent
assets17,531

Current
liabilities
Non-current
liabilities

23,428

Total liabilities

33,47987,961

Net assets per share
Equity ratio

Total liabilities
and net assets

Unit: million yen

Current
assetsNoncurrent
assets70,430Net assets

Total assets

10,050Compared tothe previous
business year+ 13,422
million yen

20,844(+3,313)80,539(+10,109)

54,482
Total assets

87,961

1,050 yen

101,384(+13,422)

Net assets per share

59.4%

Equity ratio
４

Current
liabilities

11,192(+1,142)

Non-current
liabilities

34,451(+11,023)

Total liabilities

45,644(+12,165)

Net assets

55,740(+1,257)

Total liabilities
and net assets

101,384(+13,422)

1,072 yen
52.6%
AIRPORT FACILITIES CO., LTD.

I. Outline of the consolidated financial statements
for fiscal year ended in March 2019
[Consolidated cash flow]-- Financial condition --Unit: million yen
FY ended in
March 2018

FY ended in
March 2019

Increased/decreased
amount

7,147

5,176

△1,971

Cash flow from investments (△ shows increase)△5,383△13,490△8,107

Cash flow from financial activities△2,9099,524

12,433

Increase/decrease in cash and cash equivalents(△ shows decrease)△1,105

1,167

2,272

Cash and cash equivalents, beginning of fiscal year

5,713

4,608

△1,105

Cash and cash equivalents, end of fiscal year

4,608

5,824

1,216

Item
Cash flow from operations[Major factors for increase/decrease]
Cash flow from operations

Decrease due to net income before income taxes, expenditure associated withincrease in the business loans of overseas subsidiaries, and other expenditureassociated with the acquisition of assets

Cash flow from investments

Increase due to the acquisition of non-current assets, namely five hotel builsingsin Kyoto

Cash flow from financial activities

Increase due to the issuance of bonds associated with the acquisition of hotels inKyoto, and increase in long-term debts
5.

AIRPORT FACILITIES CO., LTD.

II. Forecast on the consolidated performancefor fiscal year ending in March 2020-- Key points -1. Start of the provision of new facilities (in Haneda and in other regions),
all-year operation of hotels in Kyoto⇒ Increase in sales and income is anticipated

2. Net sales: 24.7 bilion yen (+ 2.2% year on year),
Operating income: 4.1 bilion yen (+0.8% year on year), Net profit * 2.3 billion yen (+ 10.2% year on year)
3. Aim for stable and sustainable returns to shareholders- Annual dividend: 14 yen (forecast) (interim dividend: 7 yen, year-end dividend: 7 yen)
- Payout ratio (consolidated) 30.0% (forecast)* Net profit: Current profict attributable to owners of parent

6.

AIRPORT FACILITIES CO., LTD.

II. Forecast on the consolidated performancefor fiscal year ending in March 2020-- Consolidated PL --Unit: million yen

Implement active new investment, trying to ensure steady increase in income and profit
Year on year
+ 567 million yen+ 2.3%Net sales
24,213Operatingincome24,7804,129

20,0003,000

10,0001,500

00
Mar/2019 (results)

Mar/2019 (results)

Mar/2020 (forecast)Ordinary income

Year on year
+ 372 million yen+ 11.1%

4,170

Year on year+ 41 million yen+ 0.9%

Mar/2020 (forecast)

Current profict attributableto owners of parent

Year on year
+ 216 million yen+ 10.2%

2,320

3,710
3,338

2,000

3,000

2,104

1,000

1,500

00

Mar/2019 (results)

Mar/2019 (results)

Mar/2020 (forecast)
７

Mar/2020 (forecast)
AIRPORT FACILITIES CO., LTD.

II. Forecast on the consolidated performancefor fiscal year ending in March 2020

Unit: million yen-- By business segment --: Net sales (bar graph): Operating income (line graph)Real estate business

Area heating and cooling business

Water supply and drainagebusiness and other businesses

Year on year
(Net sales) + 563 million yen (+ 3.1%)(Operating income) + 89 million yen (+ 2.8%)

Year on year
(Net sales) + 65 million yen (+ 2.0%)(Operating income) 42 million yen (+ 5.3%)

Year on year
(Net sales) - 56 million yen (- 1.9%)(Operating income) - 84 million yen (- 35.4%)

18,116

18,679

3,307

3,242
4,000

2,854
1,500

3,000

3,105

3,194

2,000

3,000

1,000

0

153

2,000
2,000

5,000

300

237

15,00010,000

2,798

829

787

500

1,000

200

1,000
100

1,000
0

Mar/2019
Mar/2020(results)(forecast)<Major factors for increase/decrease>00

Mar/2019(results)

Mar/2020(forecast)[Net sales]- Provision of facilities within Haneda Airport (in-flightmeal factory, aircraft equipment warehouse)- Provision of facilities in regional airports (Kobe,Fukuoka) and new lease- All-year operation of hotels in Kyoto[Net sales]- Steady performance of the sales of area heating andcooling in the offshore area of Haneda Airport(Calculated based on the average volume of supply inpast three years)- Provision of new facilities is anticipated[Operating income]- Increase with the expected effect of increase in net sales[Operating income]- Increase with the expected effect of increase in net sales

8.

00

Mar/2019(results)

Mar/2020(forecast)[Net sales]- Smooth operation of solar power generation
facilities- Decrease in the use of water for construction works
within Haneda Airport[Operating income]- Decreased due to decrease in the use of water forconstruction works within Haneda Airport

AIRPORT FACILITIES CO., LTD.

DisclaimerNotice■ This document is not for solicitation for investment.
■ Future expectations are based on information that is currently available.
The results may differ according to changes in the business environment and other factors.
■ Please make important decisions on investment, etc. at your own discretion.
This document is also availabe at our corporate website.
http://www.afc.jp/Inquiries:
Public Relations Office, Airport Facilities Co., Ltd.
TEL：

03-3747-0253

FAX：

03-3747-0225

EMAIL：

afc@afc.jp
AIRPORT FACILITIES CO., LTD.