Earnings Explanatory Meeting
April 1, 2012 to September 30, 2012

Earnings Presentation Material(November 15, 2012)* This document has been translated from the Japanese original, for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Japan Airport Terminal Co., Ltd.
http://www.tokyo-airport-bldg.co.jp/

JAPAN AIR TERMINALJAPAN AIR TERMINAL

Contents
Earnings Explanatory Meeting

Earnings Explanatory Meeting
April 1, 2012 to September 30, 2012 (FY12 1H)April 1, 2012 to September 30, 2012 (FY12 1H)
Supplementary Material

1. Review of Consolidated Financial Results for FY12 1H(1) Consolidated Financial Results

P2(2) Consolidated Financial Results

P3(3) Consolidated Balance Sheets

P4

2. Consolidated Financial Forecast for FY12

１. Details of Consolidated Financial Results for FY12 1H(1) Changes in passenger volume (Haneda, Narita and Kansai)

P12(2) Consolidated financial results for FY12 1H

P13(3) Financial results by segment
1) Facilities management

P142) Merchandise sales

P153) Food and beverage

P16(1) Summary of Consolidated Financial Forecast for FY12P5(2) Consolidated Financial Forecast for FY12P6(4) Breakdown of selling, general and administrative expenses(3) Forecast of Operating Revenues by Segment

P7(5) Non-operating income/expenses and extraordinary income/loss
P18

3. Progress of Issues and Efforts which JAT Needs to Address

P8(6) Consolidated balance sheets

P19(7) Consolidated statements of cash flows

P20(8) Capital expenditure and depreciation expenses

P21

4. Landing Slots Increase of Haneda Airport

P9

P17

2. Details of Forecast of Consolidated Financial Results for FY12
5. Summary (To Development of the “New Future of Airport
Operations”)(1) Forecast of consolidated financial results for FY12P10(2) Financial results by segment

P221) Facilities management

P232) Merchandise sales

P243) Food and beverage

P25

３. Others(1) Capital expenditure and depreciation expenses

P26(2) Progress situation of Medium-term Business Plan (FY10-FY12)P27(3) Operating revenues/ordinary income/cash flows

P29

JAPAN AIR TERMINALJAPAN AIR TERMINAL

Contents
Earnings Explanatory Meeting
April 1, 2012 to September 30, 2012 (FY12 1H)
Reference Material

1. Overview and Characteristics of Japan Air Terminal (JAT)’s Business(1) JAT’s position at each airport

P30(2) Company History

P31(3) The Group’s business expansion at each airport

P32(4) Group companies (15 companies)(5) Composition of the Group businesses(consolidated, by segment / results for the first half of FY12)(6) Revenue composition (consolidated, by segment)(7) Sales by region and segment (Non-consolidated)(8) Facilities of Tokyo International Airport (Investment plan)

P33
P34
P35
P36
P37

2. Efforts Related to the Tokyo International Airport Re-expansion Project(1) Re-expansion Project of Tokyo International Airport

P38(2) Founding and present state of the Tokyo International Air Terminal Corporation

P39(3) Summary of the New International Terminal

P40(4) Overall layout of the new International area

P41

3. Changes in Passenger Volume on Domestic and International Flights (Haneda and Narita)

P42

Earnings Explanatory Meeting
April 1, 2012 to September 30, 2012 (FY12 1H)

1. Review of Consolidated Financial Results for FY12 1H
2. Consolidated Financial Forecast for FY12
3. Progress of Issues and Efforts which JAT Needs to Address
4. Landing Slots Increase of Haneda Airport
5. Summary (To Development of the “New Future of Airport
Operations”)
Isao Takashiro, President

JAPAN AIR TERMINAL

1. Review of Consolidated Financial Results for FY12 1H(1) Consolidated Financial Results
Business
Environment

Passenger Volume

Principal Measures

The Japanese economy moved along a path of gradual recovery underpinned bydemand related to recovery from the Great East Japan Earthquake. Nevertheless,with great uncertainty surrounding economic ties with Europe and China, the futureremains uncertain.
Passenger volume has recovered from the impacts of the earthquake, and, excepting
domestic traffic at Haneda, has surpassed initial forecasts. Compared to last year,
however, traffic figures are up on both domestic and international routes.

Rate of change (with respect to previous period)
No. ofpassenger
volume(thousands)

Airport

FY12 1H(%)

Initialforecast(%)

Haneda –Domestic

7.6

10.1

-2.5

29,73030,750-3.3

Haneda –International

17.3

15.4

1.9

4,060

1,680

-

Narita

18.4

16.5

1.9

15,25016,760-9.0

Kansai

22.0

17.6

4.4

5,860

5,370

9.1

Difference
(P)

FY10
1H

(thousands)

Difference(%)• Measures for addressing vacant building space (talks on Isetan Haneda Store, First Cabin,
rent negotiation, etc.)• Measures for food and beverage business (Review of food procurement and increase inoperational efficiency)• Efforts to improve cost management for terminal operations, etc. (Review of Group
subcontracting agreements and outsourcing costs, PB products, negotiations to cut costs)• Development of new revenue sources (Startup of “Japan Airport Delica” and development of
new merchandise stores and restaurants in China)
2

JAPAN AIR TERMINAL(2) Consolidated Financial Results
1) Difference from FY11 1H• Despite lower rent revenue, due to returns of office space by airlines, recovering passenger volume boosted
merchandise sales and facility user charges revenue, and produced higher net sales and earnings.
2) Difference from initial forecast• Helped by international passenger volume exceeding initial forecast, operating revenues came in higher
than expected, and, with some capital investments postponed to the second half, produced higher-thanexpected operating income and ordinary income.

(Billions of yen)

Items

FY12 1H(Results)

FY11 1H(Results)

Rate ofchange(%)

ChangeInitialforecast *1

Difference

Operatingrevenues

69.6

62.5

7.1

11.4

68.2

1.4

Operatingincome / loss

2.5

-0.2

2.8

-

1.9

0.6

Ordinary
income / loss

2.5

-0.7

3.3

-

1.6

0.9

Net income /
loss

1.2

-0.9

2.1

-

0.7

0.5

*1 Financial forecast announced in May 20123

JAPAN AIR TERMINAL(3) Consolidated Balance Sheets(Billions of yen)

Items
Items

FY12 1H
End-FY11(Results)（Results）

FY11
End-FY10(Results)（Results）

ChangeChangeTotal assets
Total assets

191.1
189.2

189.1
199.0

1.9
-9.8

Total liabilities
Total liabilities

91.3
89.8

89.7
96.4

1.5
-6.6

Net assets
Net assets
Total liabilities and net
Total
liabilities and net
assetsassets[Reference][Reference]

99.8
99.3

99.4
1,02.5

0.3
-3.1

191.1
189.2

189.1
199.0

1.9
-9.8

Equity ratio
ratio
Equity

51.4%
51.7%

51.7%
50.6%

-0.3P
1.1P

4

JAPAN AIR TERMINAL

2. Consolidated Financial Forecast for FY12(1) Summary of Consolidated Financial Forecast for FY12
Business Environment

Passenger Volume
Forecast

While demand related to recovery from last year's earthquake is expected to keep the
economy on a recovery path, the future is expected to remain cloudy as troubles in Europe
continue to drag down the global economy and the territorial dispute surrounding the
Senkaku Islands, and other problems, remain unsolved.
Given this outlook, and considering developments with regard to passenger traffic from
China, international passenger traffic forecasts for the second half for both Haneda andNarita have been revised downward.

Rate of change (with respect to same period of previous year)
Initialforecasts

Difference

FY12 1H(%)

FY12 2H
(%)

FY12
(%)

Haneda –Domestic

7.6

1.3 (1.0)

4.3

5.5

-1.2

58,870

Haneda –International

17.3

1.2 (2.7)

8.8

8.7

0.1

7,910

Narita18.4

2.5 (6.7)

10.1

11.4

-1.3

29,640Kansai22.0

1.2 (0.8)

11.0

8.8

2.2

11,230

Airport(%)(P)

Adjusted forecast(thousands)*1 Figures in parentheses are initial forecasts.

Principal Issues andEfforts which JAT
Needs to Address• Measures for addressing the lower passenger traffic from China (Capture Japanese travelers
and strengthen sales)• Measures for addressing vacant building space (Recruit new tenants and sign fixed-termleases)• Measures for food and beverage business (Begin reconstruction of the store strategy andenter into a technical partnership with a major overseas catering firm)• Efforts to improve cost management for terminal operations, etc. (Integrate Group HR andaccounting departments) ５• Development of new revenue sources (Proceed with the detailed design for the international
passenger hotel and develop PB products together with JALUX)5

JAPAN AIR TERMINAL(2) Consolidated Financial Forecast for FY121) Difference from prior-year results• With increases in merchandise sales and facility user charges revenue associated with recovering passenger
volume, as well as decrease in depreciation expenses and other factors, operating revenues and income are
expected to rise.
2) Difference from initial forecasts• For the fiscal year as a whole, passenger volume basically in line with the initial forecast is expected to result in
operating revenues and income approximating initial forecasts.

(Billions of yen)

１H
Items
Results

Initialforecast

Operatingrevenues

69.6

Operatingincome/loss

2H
ChangeRevisedforecast

Initialforecast

68.2

1.4

67.1

2.5

1.9

0.6

Ordinary
income/
loss

2.5

1.6

Net income/
loss

1.2

0.7

Annualdividends

¥3.5

¥3.5

FY
FY11
Results

ChangeChangeRevisedforecast

Initialforecast

Change

66.8

0.3

136.8

135.0

1.8

129.3

7.4

1.2

1.9

-0.6

3.8

3.8

-

0.8

2.9

0.9

0.6

1.4

-0.7

3.2

3.0

0.2

0.1

3.0

0.5

0.1

0.7

-0.5

1.4

1.4

-

-2.6

4.0

¥3.5

¥3.5

¥7.0

¥7.0

*1 Initial forecast is financial forecast announced in May 2012.
6¥7.0

JAPAN AIR TERMINAL(3) Forecast of Operating Revenues by Segment(Billions of yen)

FY12
Items

Revised
Forecast

Initialforecast

ChangeRate ofchange(%)

FY11
Results

ChangeRate ofchange(%)

Facilities management

42.7

42.6

0.1

0.2

42.5

0.1

0.3

Rent revenue

13.3

13.4

-0.1

-0.7

14.1

-0.9

-6.1

Facility user charges
revenue

15.7

15.9

-0.2

-1.3

15.4

0.2

1.8

Other revenues

13.7

13.3

0.4

3.0

12.9

0.7

5.5

Merchandise sales

79.0

77.2

1.8

2.3

72.9

6.0

8.3

Sales at domestic terminal
stores

31.2

31.5

-0.3

-1.0

29.4

1.7

6.0

Sales at internationalterminal stores

17.4

16.5

0.9

5.5

13.2

4.1

31.0

Other sales

30.4

29.2

1.2

4.1

30.2

0.1

0.6

Food and beverage

15.1

15.2

-0.1

-0.7

13.8

1.2

8.8

Sales from restaurants

8.5

9.0

-0.5

-5.6

8.2

0.2

3.0

Sales from in-flight meals

4.8

4.8

-

-

4.1

0.6

15.8

Other sales

1.8

1.4

0.4

28.6

1.4

0.3

22.0

7

JAPAN AIR TERMINAL

3. Progress of Issues and Efforts which JAT Needs to Address
空室対策＜Issuesand Efforts which
JAT Needs to Address＞
Measures foraddressing
vacantbuilding
space

Measuresfor food andbeveragebusiness・Isetan Haneda Store・First Cabin Haneda Terminal 1
・Identification of new uses
(other than office space for airport-related andother businesses)
・Discussions of rent, etc. with airline companies(Restaurants)
・Revamping of store strategy, reduction of fixed
cost, changes in procurement of food supplies,
improvements in store operation efficiency, andother measures(In-flight meals)
・Sales efforts to gain new customers, and efforts
to boost operational efficiency throughreduction of costs

・Revise subcontracting agreements of Group
companies
Efforts toimprove cost ・Cost reduction
management for (Domestic: Development of PB products, change
in procurement of food supplies)
terminal(International: Sales promotion of main brands)

operations, etc.

Development of
new revenue
sources・Domestic: Attract new businesses
・International: Join in hotel operations
・Business outside Haneda: Open store in Tokyu
Plaza Omotesando, open merchandise store in
Chengdu Airport
・Startup of “Japan Airport Delica,” a joint venturewith JALUX・Move ahead with planning and sales of cruises fromthe Haneda boat landing＜1H Results＞＜2H Plan＞

・Isetan: Opened in April
・First Cabin: Opened in April⇒Achieved 90% lodging occupancy
・Began negotiations aimed at convincing a vocational
school to open a training facility
・Began negotiating with airlines to provide special rent
discounts and to enter into fixed-term leaseagreements

・Proceed with preparations for opening vocational
school training facility(Restaurants)
・Improved operations by lowering fixed costs and foodcosts
⇒ Budget yet to be achieved, but in the black(In-flight meals)
・Lowered costs with measures like outsourcing
cleaning work
⇒ Achieved budget, and in the black(Restaurants)
・Begin reconstruction of store strategy(In-flight meals)
・Enter into operational tie-up with major overseas
player (LSG) to stabilize profitability
・Continue cost cutting and actively participate in
bidding

・Reviewed subcontracting agreements of Group
companies, and implemented cost cuts at
subsidiaries⇒ Subcontracting cost savings: approx. 0.15bn
・Cost reduction
Domestic: Development of PB products, Began cost
negotiations
・International: Negotiating costs with some suppliers・Continue managing cost reduction targets for
subsidiaries
・Create plan for integrating HR and accounting
departments by year end
・Cost reduction
Expand development of PB products⇒ Cut Haneda domestic cost percentage by 0.5P・Domestic: Embarked on sales efforts targeting
various companies
・International：Completed basic hotel-related designs
・Business outside Haneda: Tokyu Plaza opened in
April
Chengdu merchandise shop opened in August・Japan Airport Delica: Started operations in April
・Haneda boat landing: Planning and sales of tour
cruises (tie-ups with Hinomaru Kotsu, etc)

・Domestic: Analysis of business types needed,considering expanded international routes
・International: Move ahead with detailed design of an
attractive hotel
・Business outside Haneda: Hold Tokyu Plaza events andrevise MD
Chengdu merchandise shop, renegotiate rent, etc.
・Joint development and sale of PB products with JALUX・ Haneda boat landing: continue planning and sales oftour cruises

8・Stabilize space leasing operations by having airlines
enter into fixed-term leases
・Attract new tenants (New types of businesses)

JAPAN AIR TERMINAL

4. Landing Slots Increase of Haneda Airport■ Landing Slot Increase of Domestic / International Flights

Domestic

Oct 2012

Mar 31, 2013 -Mar 31, 2014 -

337,000

357,000

357,000(Domestic: increased by 20,000)
Daytime30,000(International increased by 30,000)

International
Time of midnightand early morning

447,000

60,00030,00030,000■ Number of International Flights of Haneda Airport
Oct 2012
17 routes, 53 flights/day

Mar 31, 2013 23 routes, 62 flights/day

China

8

6

14

20

-6

South Korea

14

14

16

-2

Taiwan888-Hong Kong

4

4

8

-4

Singapore

4

4

4

-

Malaysia

1

1

1

-

Thailand

3

3

2

+1

Indonesia

1

1

1

-

France

1

1

2

-1

UK

1

1

2

-1

Germany

1Country

Total

In
service

Out ofservice14-3Netherlands

0

2

-2

Canada

0

2

-2

7

8

-1

USA

7

UAE

2

2

2

-

Qatar

1

1

1

-

9

62

83

-21

Total

53
9

Created by the Company based onmaterials announced by Ministry ofLand, Infrastructure, Transport andTourismJAPAN AIR TERMINAL

5. Summary (To Development of the “New Future of Airport Operations”)○ Re-examine existing operations, develop a concrete vision of future operations, and reflect in the next
Medium-Term Business Plan
Changing Internalities

Changing Externalities○Competitive environment for the airline industry is global
・Liberalization of air transport, rapid growth of LCCs
・Need for reform in airport management(Thorough improvement in efficiency and stronger profitability)○ Expansion in landing slots for Tokyo metropolitan area airports(Haneda: 397,000 → 447,000)○ Decline in foreign visitors to Japan due to territorial disputes, etc.
with neighboring countries○ Increase in vacancies due to management streamlining by airlines○ Increase in land lease expense (national property usage fee)
○ Change in Haneda traveler breakdown(Peak in domestic passenger traffic, international passenger traffic
trending upward)○ Changing business conditions at Narita and Kansai Airport

To develop the “new future of airport operations,” re-examine existing operations,strengthen the operational base, and develop a concrete vision of future operations
Business Development and the Creation of
Attractive, Appealing Terminal Facilities at
Haneda・Expansion in 3 spots in the Terminal 2 Building
・Consideration of domestic connection facility improvement
・Strengthening of collaborations for international routes andparticipation in hotel development・Active participation in development of dormant areas in
Haneda property
・Strengthening of business involving the Haneda boat landing

Maximization of Haneda's
Potential
Creation of new demand through internal Group efforts
・Establishment of global education facilities throughadvancement of the UHHA concept
・Creation of a technology industry base through thedevelopment of a special district for robot testing

Challenges outside of Haneda
Strategic application of the strengths and know-how
of the Group’s existing businesses- Consideration of new businesses at overseas
airports- Consideration of new businesses in commercial
districts outside of airports

Fundamental
cost structure reforms

In addition, implement sweeping cost structure reforms on top of ongoing cost cuts to strengthen
resilience against changes in the severe business environment of the airline industry.

Toward a new development stage
10

Earnings Explanatory Meeting
April 1, 2012 to September 30, 2012 (FY12 1H)

Supplementary Material
1. Details of Consolidated Financial Results for FY12 1H
2. Details of Forecast of Consolidated Financial Results for FY12
3. Others* This document has been translated from the Japanese original, for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Japan Airport Terminal Co., Ltd.
http://www.tokyo-airport-bldg.co.jp/

JAPAN AIR TERMINAL

１. Details of Consolidated Financial Results for FY12 1H

JAPA AIR TERMINAL(1) Changes in passenger volume (Haneda, Narita and Kansai)(Thousand passengers)(Thousand passengers)
1 0 ,000

7 0 ,0 00

Haneda Airport – domestic passengers

6 8 ,0 00

FY12 forecast +4.3％ (initial forecast
6 6 ,0 00
6 4 ,0 00

Sep. 2008
Financial crisis being
triggered by the US

64,9516 2 ,0 00

9 ,0 00+5.5%)

59,344

7,267

1H result +17.3% (initial forecast +15.4%)
2H forecast +1.2% (initial forecast +2.7%)

7 ,0 00(-4.1%)

Aug. 2005
Chartered flights between Haneda
and Kimpo increased (8 RT/day)

5 6 ,0 00
3 ,0 00

1,950

5 4 ,0 00

4 8 ,0 00
2006

2007

2008

2009

2010

← Results

Forecast →

2011

2012

Oct. 2009
Flights between Haneda and Beijingcommenced (4 RT/day)
Apr., Jul. 2008
Chartered flights
between Haneda andHong Kong commenced(2 RT/day)

1 ,0 00

5 0 ,0 00

Oct. 2010
New International
Terminal started
operation

2,756

2,438

2 ,0 00

1H result +7.6% (initial forecast +10.1%)
2H forecast + 1.3% (initial forecast +1.0%)

4,817

Sep. 2007
Chartered flights between Haneda
and Shanghai (Hongqiao)
commenced (4 RT/day)

5 ,0 00
4 ,0 00

5 2 ,0 00

Mar. 2011
Great East Japan
Earthquake

6 ,0 00(+4.3%)

56,425
5 8 ,0 00(＋8.8%)+8.7%)(＋50.9％)58,87058,8086 0 ,0 00

7,910

FY12 forecast +8.8％ (initial forecast
8 ,0 00

Oct. 2010
Expanded Terminal 2 atHaneda Airport

May 2009
H1N1 influenza
outbreak

63,191

Haneda Airport – international passengers

0

FY

2006

2007

2008

2009

2010

← Results
2011

Forecast →

2012

FY

(Thousand passengers)

3 7 ,000(Thousand passengers)

Narita Airport – international passengers
FY12 forecast +10.1％ (initial forecast

3 5 ,000

1 3 ,000+11.4%)

34,1633 3 ,000

Kansai Airport – international passengers
FY12 forecast +11.0％ (initial forecast+8.8%)

1 2 ,000

31,51431,51811,01029,640(+10.1%)

2009年5月
May
2009
H1N1
influenza outbreak
新型インフルエンザ流行(+11.0%)1 1 ,000

30,8293 1 ,000

2 9 ,000

11,230Aug. 2007
Runway 2 started operation

2009年5月
May
2009
H1N1
influenza outbreak
新型インフルエンザ流行

1 0 ,000

26,926

10,111

10,408

10,114(-2.8%)

9,571(-12.7%)Sep.
2008
2008年9月
Financialcrisis being
米国発金融危機triggered by the US

9 ,0 00

1H result +18.4% (initial forecast +16.5%)
2H forecast +2.5% (initial forecast +6.7%)

8 ,0 00

2 7 ,000

2 5 ,000

2 3 ,000
2006← Results
2007

2008

2009

2010

2011

Sep. 20082008年9月
Financial crisis being
米国発金融危機triggeredby the US

7 ,0 00

Forecast →2012

1H result +22.0% (initial forecast +17.6%)
2H forecast +1.2% (initial forecast +0.8%)

FY

12

2006

2007

2008

2009

2010

← Results
2011

Forecast →2012
FY※Passenger volume
Results: figures published by Minister of Land, Infrastructure, Transport and Tourism,
Narita International Airport Corporation and Kansai International Airport Co., Ltd.
Forecast: Created by the Company

JAPAN AIR TERMINAL(2) Consolidated financial results for FY12 1H
FY12 1H(Results)

Items

FY11 1H(Results)
Ratio

Initial forecast(May 2012)

Rate ofchangeChangeRatio

Difference
Ratio

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

69,694100.0

62,587

100.0

7,106

11.4

68,200

100.0

1,494

Facilities management

21,56330.9

21,090

33.7

472

2.2

21,40031.4

163

Merchandise sales

40,59058.3

34,695

55.4

5,895

17.0

39,000

57.2

1,590

Food and beverage

7,540

10.8

6,801

10.9

738

10.9

7,800

11.4

-259

34,57649.6

30,348

48.5

4,228

13.9

33,90049.7

67630,165

43.3

26,154

41.8

4,010

15.3

29,30043.0865Operating revenues

Cost of sales
Cost of sales ofmerchandise(Ratio*1)
Cost of sales of food andbeverage(Ratio*2)(75.4%)(74.3%)

4,411

6.3

4,193

(-1.1P)(61.7%)(58.5%)

217

6.7(75.1%)

5.2(-3.2P)

4,600(-0.8P)

6.7(59.0%)-188(-0.5P)

Gross profit

35,11750.4

32,239

51.5

2,878

8.9

34,30050.3

817

Selling, general andadministrative expenses

32,54046.7

32,476

51.9

63

0.2

32,40047.6

140Operating income/loss

2,577

3.7

-237

-0.4

2,814

-

1,900

2.7

677

-26

-0.0

-543

-0.8

516

-

-300

-0.4

273

Ordinary income/loss

2,550

3.7

-780

-1.2

3,331

-

1,600

2.3

950

Extraordinary income/loss

-119

-0.2

-20

-0.0

-99

-

-

-

-119

Quarterly net income/loss

1,244

1.8

-903

-1.4

2,147

-

700

1.0

544

Non-operating income/loss*Ratio*1：Cost of sales of merchandise／Operating revenues of merchandise
Ratio*2：Cost of sales of food and beverage／ Operating revenues of food and beverage
Note: Figures shown are rounded down to the nearest million yen.
13

JAPAN AIR TERMINAL(3) Financial results by segment
1) Facilities management
FY12 1H(Results)

Items

FY11 1H(Results)
Ratio

Initial forecast(May 2012)

Rate ofchangeChangeRatio

Difference

Ratio

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

Rent revenue

6,906

30.5

7,129

32.3

-223

-3.1

6,700

30.0

206

Facility user charges
revenue

7,885

34.9

7,608

34.4

276

3.6

8,000

36.0

-114

Other revenues

6,771

30.0

6,352

28.7

419

6.6

6,700

30.0

71

Subtotal

21,563

95.4

21,090

95.4

472

2.2

21,40096.0

163Intersegment sales and transfers

1,041

4.6

1,010

4.6

30

3.0

900

4.0

141

Total

22,604100.0

22,101

100.0

503

2.3

22,300100.0304

Operating expenses

20,59591.1

21,753

98.4-1,157-5.3

20,90093.7-304

Operating income

2,008

8.9

348

1.6

1,660

-

1,400

6.3

608

Sales to external customers(Ratio)(8.9%)(1.6%)(7.3P)(6.3%)(2.6P)

・Rent revenue: Return of office space in the domestic terminal building by airline companies, etc.

-¥0.2 billion

・Facility user charges revenue: Increase in PFC from higher domestic passenger volume+¥0.3 billion

・Other revenues: Revenue increase from higher passenger volume
Revenue increase from opening of “First Cabin,” a compact hotel in domestic Terminal 1 building
Revenue increase from commissioned management of facilities in the International Passenger Terminal+¥0.2 billion+¥0.1 billion+¥0.1 billion

・Operating expenses: Lower maintenance expense (Prior fiscal year included expansion and renovation of the domestic Terminal 1 building)-¥1.0 billion

Note: Figures shown are rounded down to the nearest million yen.
14

JAPAN AIR TERMINAL(3) Financial results by segment
2) Merchandise sales
FY12 1H(Results)

Items

FY11 1H(Results)
Ratio

Rate ofchangeChangeRatio

Initial forecast(May 2012)

Difference

Ratio

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

Domestic terminal stores

15,55438.0

14,209

40.7

1,344

9.5

16,00040.8-445International terminal stores

9,205

22.5

6,275

18.0

2,929

46.7

8,400

21.4

805

Other sales

15,83038.7

14,209

40.6

1,620

11.4

14,600

37.3

1,230

40,59099.2

34,695

99.3

5,895

17.0

39,000

99.5

1,590

322

0.8

258

0.7

64

25.0

200

0.5

122

Total

40,913100.0

34,953

100.0

5,959

17.1

39,200

100.0

1,713

Operating expenses

38,39993.932,947

94.3

5,452

16.5

37,000

94.4

1,399

Operating income

2,513

6.1

2,005

5.7

507

25.3

2,200

5.6

313

Sales to external customers

SubtotalIntersegment sales and transfers(Ratio)(6.1%)(5.7%)(0.4P)(5.6%)

・Sales at domestic terminal stores: Sales increase and other developments from higher domestic passenger volume
Sales increase from opening of new stores in the Haneda Terminal 1 building
・Sales at international terminal stores: Sales increase and other developments from higher international passenger volume
Opening of new stores at Kansai Airport
Sales increase from store renovations at Narita Airport(0.5P)+¥1.1 billion+¥0.2 billion+¥1.3 billion+¥1.2 billion+¥0.4 billion

・Other sales: Increase in wholesale to Haneda international routes and regional airports driven by higher passenger volume +¥1.6 billion
・Operating expenses: Increase in cost of sales resulting from increase in merchandise sales
Higher rent revenue from increases in sales at Narita Airport and Kansai Airport duty-free stores
Rise in outsourcing and other property-related expenses

15+¥4.0 billion+¥0.7 billion+¥0.7 billion

Note: Figures shown are rounded down to the nearest million yen.

JAPAN AIR TERMINAL(3) Financial results by segment
3) Food and beverage
FY12 1H(Results)

Items

FY11 1H(Results)
Ratio

ChangeRatio

Initial forecast(May 2012)

Rate ofchangeDifference

Ratio

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

Sales from restaurants

4,305

50.1

4,020

52.5

284

7.1

4,700

54.0

-394

Sales from in-flight meals

2,345

27.3

2,004

26.2

340

17.0

2,400

27.6

-54

889

10.4

777

10.1

112

14.5

700

8.1

189

Subtotal

7,540

87.8

6,801

88.8

738

10.9

7,800

89.7

-259

Intersegment sales and transfers

1,052

12.2

856

11.2

195

22.9

900

10.3

152

Total

8,592

100.0

7,658

100.0

934

12.2

8,700

100.0

-107

Operating expenses

8,482

98.7

8,174

106.7

308

3.8

8,600

98.9

-117

Operating income/loss

109

1.3

-516

-6.7

626

-

100

1.1

9

Sales to external customers

Other sales(Ratio)(1.3%)(-6.7%)(8.0P)(1.1%)(0.2P)

・Sales from restaurants: Sales increase from higher domestic passenger volume+¥0.3 billion

・Sales from in-flight meals: Increase in foreign carrier (customers) flights (recovery from downturn) and increase in sizes of planes+¥0.3 billion

・Other sales: Increase in commissioned management of airline company lounges in the International Passenger Terminal building+¥0.1 billion

・Operating expenses: Increase in cost of sales resulting from increase in food and beverage sales+¥0.2 billion

Note: Figures shown are rounded down to the nearest million yen.
16

JAPAN AIR TERMINAL(4) Breakdown of selling, general and administrative expenses

Items

FY12 1H(Results)

FY11 1H(Results)
Ratio

ChangeRate of change

Ratio

Millions of yen%

Millions of yen%

Millions of yen%

Operating revenues

69,694100.0

62,587

100.0

7,106

11.4

Selling, general and administrative expenses

32,54046.7

32,476

51.9

63

0.2

3,643

5.2

3,595

5.7

47

1.3

Provision for employees’ bonuses

909

1.3

788

1.3

121

15.4

Provision for directors’ bonuses

65

0.1

-

-

65

-

Expenses for retirement benefits

436

0.6

463

0.7

-26

-5.8

Rent expenses

4,324

6.2

3,819

6.1

504

13.2

Business consignment expenses

6,924

9.9

6,396

10.2

527

8.3

Depreciation expenses

6,341

9.1

6,685

10.7

-344

-5.1

Other costs and expenses

9,894

14.3

10,726

17.2

-832

-7.8

Salaries and wages

Note: Figures shown are rounded down to the nearest million yen.
17

JAPAN AIR TERMINAL(5) Non-operating income/expenses and extraordinary income/loss
Items

FY12 1H(Results)

FY11 1H(Results)
Ratio

ChangeRate of change

Ratio

Millions of yen%

Millions of yen%

Millions of yen%

Operating revenues

69,694100.0

62,587

100.0

7,106

11.4

Operating income/loss

2,577

3.7

-237

-0.4

2,814

-

Non-operating income

948

1.4

776

1.2

172

22.3

Interest and dividends received

232

0.4

196

0.3

35

17.9

Miscellaneous income

716

1.0

579

0.9

137

23.7

Non-operating expenses

975

1.4

1,319

2.1

-343

-26.1

Interest expenses

510

0.7

553

0.9

-42

-7.8

Equity in losses of affiliates

398

0.6

715

1.1

-317

-44.3

Miscellaneous expenses

66

0.1

50

0.1

16

32.6

Ordinary income/loss

2,550

3.7

-780

-1.2

3,331

-

Extraordinary income

-

0.0

26

-

-26

-

119

0.2

46

0.1

72

154.9

Income taxes

1,186

1.7

102

0.2

1,083

-

Quarterly net income/loss

1,244

1.8

-903

-1.4

2,147

-

Extraordinary loss

Note: Figures shown are rounded down to the nearest million yen.
18

JAPAN AIR TERMINAL(Millions of yen)

(6) Consolidated balance sheets
Cash and time deposits-¥2.3 billion
Accounts receivable+¥0.2 billion
Merchandise and finishedgoods +¥1.0 billion
Others +¥1.4 billion

Accounts payable-¥0.2 billion
Short-term loans payable+¥0.5 billion
Income taxes payable+¥0.7 billion
Allowance for employees’
bonuses+¥0.2 billion
Others+¥0.2 billion

Current
liabilities

Current
assets+1,544+352
Tangible fixed assets(depreciable assets)
Buildings and structures+¥1.1 billion
Accumulated depreciation-¥3.9 billion
Others+¥0.9 billion
Total -¥1.8 billion

Long-term loans payable+¥0.6 billion
Provision for retirement
benefits -¥0.1 billion
Lease liabilities-¥0.3 billion
Others-¥0.1 billion

Fixedliabilities
+46

Fixed
assets+1,614

Intangible fixed assets-¥0.2 billion

Retained earnings+¥0.9 billion(Net income/loss +¥1.2 billion)
Deferred losses on hedges-¥0.4 billion
Others-¥0.1 billion

Net assets+376

Investments and other assets
Investment securities+¥3.1 billion
Long-term loans receivable+¥0.3 billion
Others+¥0.1 billion
Total +¥3.6 billion

Total assets

Total assets

191,132

189,165

Equity ratio
FY12 1H 51.4％

FY11＋1,967
FY12 1H

51.7％(-0.3P)

FY11

FY11

FY12 1H
Note: Figures shown are rounded down to the nearest million yen.

19

JAPAN AIR TERMINAL(7) Consolidated statements of cash flows
FY12 1H(Results)

Items

FY11 1H(Results)

Millions of yen

ChangeMillions of yen

Millions of yen

6,428

10,048-3,620Quarterly income before income taxes and minority interests

2,431

-800

3,231

Depreciation and amortization

6,385

6,775

-389

Other current assets-1,301

2,153-3,454

Other current liabilities

349

2,850

-2,500

Other fixed liabilities-221-1,253

1,032

Others-889

162-1,052

Income and other taxes paid

-326

160

-486

-9,227-6,333-2,893Purchase of tangible fixed assets-4,225-3,691-534

Purchase of intangible fixed assets

-143

-285

142

-4,858-2,356-2,501496-6,032

6,529

Proceeds from long-term loans payable

5,000

-

5,000

Repayment of long-term loans payable-3,864-6,222

2,358

Dividends payment

-284

-281

-2

Others

-354

471

-825

2

-0

3

Increase (decrease) in cash and cash equivalents-2,298-2,31718

Cash and cash equivalents at the beginning of term

20,816

21,797-981

Cash and cash equivalents at the end of term

18,517

19,479-962

Cash flows from operating activities

Cash flows from investing activities

OthersCash flows from financing activities

Effect of exchange rate change on cash and cash equivalents

Note: Figures shown are rounded down to the nearest million yen.
20

JAPAN AIR TERMINAL(8) Capital expenditure and depreciation expenses
FY08 1H(Results)

FY09 1H(Results)

FY10 1H(Results)

FY11 1H(Results)

FY12 1H(Results)

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Capital expenditure

4,646

5,722

5,940

5,183

4,270

Depreciation expenses

7,330

6,748

5,858

6,685

6,341

Items

･Major capital expenditure
FY12 1H (Result)
Construction of the fourth stage of the plan of Terminal 2 building ¥1.6 billion (investment ¥7.6 billion)･Major depreciation expenses
FY08 1H(Results)

FY09 1H(Results)

FY10 1H(Results)

FY11 1H(Results)

FY12 1H(Results)

Billions of yen

Billions of yen

Billions of yen

Billions of yen

Billions of yen

Terminal 1

2.4

2.3

2.0

2.0

2.0

Terminal 2

2.7

2.5

2.1

3.0

2.6

International

0.7

0.7

0.3

-

-

P4 Parking

0.1

0.1

0.2

0.3

0.2

Items

21

Note: Figures shown are rounded down to the nearest million yen.

JAPAN AIR TERMINAL

2. Details of Forecast of Consolidated Financial Results for FY12(1) Forecast of consolidated financial results for FY12FY12(Forecasts)

Items

FY11
(Results)
Ratio

Change
Ratio

Rate
of
chang
e

Initial forecast(May 2012)

Difference

Ratio

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Millions ofyen

136,800

100.0

129,391

100.0

7,408

5.7

135,000

100.0

1,800

Facilities management

42,70031.2

42,575

32.9

124

0.3

42,60031.5

100Merchandise sales

79,00057.8

72,941

56.4

6,058

8.3

77,200

57.2

1,800

Food and beverage

15,10011.0

13,874

10.7

1,225

8.8

15,20011.3-100

68,00049.7

63,673

49.2

4,326

6.8

66,900

49.6

1,100

59,10043.2

55,228

42.7

3,871

7.0

57,900

42.9

1,200

Operating revenues

Cost of sales
Cost of sales of merchandise(Ratio*1)
Cost of sales of food andbeverage(Ratio*2)(75.7%)(74.8%)

8,900

6.5

(-0.9P)

8,444

6.5

(60.9%)(58.9%)

455(75.0%)

5.4(-2.0P)

9,000(-0.2P)

6.7(59.2%)-100(-0.3P)

Gross profit

68,80050.3

65,718

50.8

3,081

4.7

68,10050.4

700Selling, general and administrative
expenses

65,00047.6

64,841

50.1

158

0.2

64,30047.6

700Operating income

3,800

2.7

877

0.7

2,922

-

3,800

2.8

-

Non-operating income/expenses

-600

-0.4

-700

-0.6

100

-

-800

-0.6

200

Ordinary income

3,200

2.3

176

0.1

3,023

-

3,000

2.2

200

extraordinary income/loss

-100

-0.1

-534

-0.4

434

-

-

-

-100

Net income/loss

1,400

1.0

-2,614

-2.0

4,014

-

1,400

1.0

-

※ Preconditions: Forecast of number of passengers
Haneda domestic (full-year)+4.3% YoY
Haneda international (full-year) +8.8% YoY
Narita international (full-year) +10.1% YoY
Kansai international (full-year) +11.0% YoY※ Non-operating income and expenses: Equity in losses of affiliates -¥1.0 billion* Ratio*1: Cost of sales of merchandise/Operating revenues of merchandise
Ratio*2: Cost of sales of food and beverage／Operating revenues of food and beverage
Note: Figures shown are rounded down to the nearest million yen.
22

JAPAN AIR TERMINAL(2) Financial results by segment
1) Facilities management
FY12(Forecasts)

Items

FY11
(Results)

Ratio

Rate ofchangeChangeRatio

Initial forecast(May 2012)

Difference

Ratio

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

Rent revenue

13,30029.8

14,169

31.8

-869

-6.1

13,40030.0-100Facility user charges
revenue

15,70035.1

15,416

34.6

283

1.8

15,90035.7-200

Other revenues

13,70030.6

12,988

29.0

711

5.5

13,30029.8

400Subtotal

42,70095.5

42,575

95.4

124

0.3

42,60095.5100Intersegment sales and transfers

2,000

4.5

2,038

4.6

-38

-1.9

2,000

4.5

-

Total

44,700100.044,613

100.0

86

0.2

44,600100.0

100Operating expenses

41,50092.8

43,30397.1-1,803-4.2

41,60093.3-100Operating income

3,200

7.2

1,310

2.9

1,889

144.2

3,000

6.7

200

Sales to external customers(Ratio)(7.2%)(2.9%)(4.3P)(6.7%)(0.5P)

・Rent revenue: Return of office space in the domestic terminal building by airline companies, etc.

-¥0.8 billion

・Facility user charges revenue: Increase in PFC from higher domestic passenger volume+¥0.3 billion

・Other revenues: Revenue increase from commissioned management of facilities in the International Passenger Terminal
Revenue increase from opening of “First Cabin,” a compact hotel in domestic Terminal 1 building
Revenue increase from higher passenger volume+¥0.3 billion+¥0.2 billion+¥0.2 billion

Note: Figures shown are rounded down to the nearest million yen.
23

JAPAN AIR TERMINAL(2) Financial results by segment
2) Merchandise sales
FY12(Forecasts)

Items

FY11
(Results)
Ratio

Rate ofchangeChangeRatio

Initial forecast(May 2012)

Difference

Ratio

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

Domestic terminal stores

31,20039.2

29,445

40.1

1,754

6.0

31,50040.5-300International terminal stores

17,40021.8

13,280

18.1

4,119

31.0

16,50021.2

900

Other sales

30,40038.2

30,215

41.1

184

0.6

29,200

37.7

1,200

79,00099.2

72,941

99.3

6,058

8.3

77,200

99.4

1,800

600

0.8

543

0.7

56

10.4

500

0.6

100

Total

79,600100.073,485

100.0

6,114

8.3

77,700

100.0

1,900

Operating expenses

75,20094.5

69,130

94.1

6,069

8.8

73,100

94.1

2,100

Operating income

4,400

5.5

4,354

5.9

45

1.0

4,600

5.9

-200

Sales to external customers

SubtotalIntersegment sales and transfers(Ratio)(5.5%)(5.9%)(-0.4P)(5.9%)

・Sales at domestic terminal stores: Sales increase and other developments from higher domestic passenger volume
Sales increase from opening of new stores in the Haneda Terminal 1 building(-0.4P)+¥1.3 billion+¥0.4 billion

・Sales at international terminal stores: Sales increase from a rise in passenger volume at Narita Airport+¥2.6 billion
Sales increase and other developments from conversion of Kansai Airport boutiques to direct management+¥3.3 billion
Sales decrease at Haneda International Terminal stores-¥0.5 billion
Sales decrease as a result of Senkaku Islands territorial dispute-¥1.3 billion
・Other sales: Decrease in wholesale revenues from conversion of Kansai Airport boutiques to direct management
Decrease in wholesale revenues from decline in transactions at Haneda Airport
Sales decrease as a result of Senkaku Islands territorial dispute
Increase in wholesale revenues from a rise in international passenger volume at Haneda Airport
Increase in wholesale revenues to regional airports
24-¥2.2 billion-¥0.7 billion-¥0.4 billion+¥1.5 billion+¥1.7 billion

Note: Figures shown are rounded down to the nearest million yen.

JAPAN AIR TERMINAL(2) Financial results by segment
3) Food and beverage
FY12(Forecasts)

Items

FY11
(Results)
Ratio

ChangeRatio

Initial forecast(May 2012)

Rate ofchangeDifference

Ratio

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

Sales from restaurants

8,500

49.7

8,253

52.8

246

3.0

9,000

52.9

-500

Sales from in-flight meals

4,800

28.1

4,145

26.5

654

15.8

4,800

28.3

-

Other sales

1,800

10.5

1,475

9.5

324

22.0

1,400

8.2

400

Subtotal

15,10088.3

13,874

88.8

1,225

8.8

15,20089.4-100Intersegment sales and transfers

2,000

11.7

1,758

11.2

241

13.7

1,800

10.6

200

Total

17,100100.0

15,633

100.0

1,466

9.4

17,000100.0

100Operating expenses

16,90098.8

16,424

105.1

475

2.9

16,900

99.4

-

200

1.2

-791

-5.1

991

-

100

0.6

100

Sales to external customers

Operating income/loss(Ratio)(1.2%)(-5.1%)(6.3P)(0.6%)(0.6P)

・Sales from restaurants: Sales increase from higher domestic passenger volume+¥0.2 billion

・Sales from in-flight meals: Increase in foreign carrier (customers) flights (recovery from downturn) and increase in sizes of planes+¥0.6 billion

・Other sales: Increase in commissioned management of airline company lounges in the International Passenger Terminal building+¥0.3 billion

Note: Figures shown are rounded down to the nearest million yen.
25

JAPAN AIR TERMINAL

３. Others(1) Capital expenditure and depreciation expenses
FY07(Results)

FY08(Results)

FY09(Results)

FY10(Results)

FY11(Results)

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Capital expenditure

9,656

14,78912,567

13,413

8,140

8,480

Depreciation expenses

15,157

15,106

13,59813,217

13,954

12,895Items

FY12(Forecasts)･Major capital expenditure
FY11 (results)

FY12 (forecasts)

Renewal construction of Terminal 1 building

Construction of the fourth stage of the plan of Terminal 2 building¥3.3 billion (investment amount ¥7.0 billion)¥3.2 billion (investment amount ¥7.6 billion)

Construction of the fourth stage of the plan of Terminal 2 building

Renewal construction of ACC calcinator¥1.2 billion (investment amount ¥7.6 billion)¥0.7 billion (investment amount ¥1.8 billion)

Renewal construction of ACC calcinator

Renewal construction of security equipment at Terminal 1¥0.7 billion (investment amount ¥1.8 billion)¥0.7 billion

Renewal construction of security equipment at Terminal 1

Plan of diversion of Sakura House¥0.6 billion¥0.6 billion(Total ¥5.8 billion)(Total ¥5.2 billion)･Major depreciation expenses
FY07(Results)

FY08(Results)

FY09(Results)

FY10(Results)

FY11(Results)

FY12(Forecasts)

Billions of yen

Billions of yen

Billions of yen

Billions of yen

Billions of yen

Billions of yen

Terminal 1

5.4

5.1

4.6

4.1

4.4

4.2

Terminal 2

6.5

5.5

4.9

5.6

6.1

5.2

International

0.9

1.6

1.4

0.3

-

-

P4 Parking

0.0

0.3

0.3

0.6

0.6

0.5

Items

26

Note: Figures shown are rounded down to the nearest million yen.

JAPAN AIR TERMINAL(2) Progress situation of Medium-term Business Plan (FY10-FY12)
Period of Medium-term Business Plan
Items

FY10
(Plan)

FY10(Results)

ChangeFY11(Plan)

FY11(Results)

Change(Billions of yen)

FY12
(Plan)

FY12(Forecast)

ChangeOperating revenues

133.4

134.7

1.3

147.4

129.3

-18.1

152.1

136.8

-15.3

Facilities
management

40.8

42.0

1.2

44.0

42.5

-1.5

44.2

42.7

-1.5

Merchandise sales

77.0

78.1

1.1

85.1

72.9

-12.2

88.7

79.0

-9.7

Food and beverage

15.6

14.5

-1.1

18.3

13.8

-4.5

19.2

15.1

-4.1

Operating income

4.2

4.1

-0.1

4.2

0.8

-3.4

6.3

3.8

-2.5

Ordinary income

3.0

3.1

0.1

2.2

0.1

-2.1

5.1

3.2

-1.9

Net income/loss

1.3

0.9

-0.4

0.7

-2.6

-3.3

2.5

1.4

-1.1

Capital expenditure

21.7

13.4

-8.3

8.0

8.1

0.1

10.0

8.4

-1.6

Depreciation
expenses

13.6

13.2

-0.4

14.6

13.9

-0.7

13.3

12.8

-0.5

Note: Figures of Medium-term Business Plan announced in May 201027

JAPAN AIR TERMINAL(3) Operating revenues/ordinary income/cash flows

Billions ofyen(left)
Operating revenues (results)《左軸》営業収益(実績)(left)
Operating revenues (plan)《左軸》営業収益（中計）(left)
Operating revenues《左軸》営業収益（修正予想）(adjusted forecast)(right)Ordinary income/loss《右軸》経常利益(実績)(results)《右軸》キャッシュフロー(right)Cash flows《右軸》キャッシュフロー（予想）(right)Cash flows (forecast)《右軸》経常利益（中計）(right)Ordinary income (plan)(right)Ordinary income /loss (adjusted forecast)《右軸》経常利益（修正予想）

Great East Japan
Earthquake
H1N1 influenza
outbreakFinancial crisis being
triggered by the US
Hikes in the priceof crude oil
Chubu International Airport opened

180
1,800
160
1,600

Financial realignment
Y2K task
Voluntary closure of
Yamaichi Securities

1,400
140

Kansai International Airport opened

450
45
400
40
35
350

SARS outbreak

Narita Airport Terminal 2 started operation

120
1,200

Billions of
yen

300
30

Iraq war
9-11 Terrorist Attack in the US
The extended part ofHaneda Airport Terminal 2
and TIAT Haneda Airport
started operation (Oct. 2010)

100
1,000

800
80

20
200

Haneda Airport Terminal 2
started operation (Dec. 2004)

Haneda Airport Terminal 1 started
operation (Sep. 1993)

600
60

250
25

18.0 177
180
17.7

13.7
137

15
150

15.1
151
13.3
133

40
400

100
10

107
10.7
9.0
90

20
200

8.0
80

5.0
50

0

3.1
31
6.7
67

4.9
49

-20
-200

'89

'90

'91

'92

'93

'94

'95

'96

'97

'98

'99

'00
28

'01

'02

'03

'04

'05

'06

'07

'08

'09

3.2
32

'10

←

'11

505
0

10.1

1.0
10

'88

5.1
51

2.2
22

→

-5
-50

'12

Results Forecast(Cash flows=Net income + Depreciation expenses – Dividends)

Earnings Explanatory Meeting
April 1, 2012 to September 30, 2012

Reference Material
1.

Overview and Characteristics of Japan Air Terminal (JAT)’s Business

2.

Efforts Related to the Tokyo International Airport Re-expansion Project3.

Changes in Passenger Volume on Domestic and International Flights* This document has been translated from the Japanese original, for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Japan Airport Terminal Co.,Ltd.
http://www.tokyo-airport-bldg.co.jp/

JAPAN AIR TERMINAL

1. Overview and Characteristics of Japan Air Terminal (JAT)’s Business(1) JAT’s position at each airport
AirportResponsible
partyManagement
party
Airport facilities(basic facilities)
Runways
Taxiways
ApronsHaneda Airport(Tokyo International Airport)

Narita Airport(Narita International
Airport)Kansai Airport(Kansai International
Airport)Central Japan Airport(Central Japan International
Airport)Itami Airport(Osaka International
Airport)National government(Minister of Land, Infrastructure,
Transport and Tourism)

Narita International Airport
Corporation

New Kansai International
Airport Company, Ltd.

Central Japan International
Airport Co., Ltd.

New Kansai International
Airport Company, Ltd

National government(Minister of Land, Infrastructure,
Transport and Tourism)

Narita International Airport
Corporation

New Kansai International
Airport Company, Ltd

Central Japan International
Airport Co., Ltd.

New Kansai International
Airport Company, Ltd

National government(Minister of Land, Infrastructure, Transport and Tourism)

Control facilities
Domestic: JAT
Terminal buildings International: Tokyo International Air
Terminal Corporation (TIAT)
Shareholder
composition

Private corporations, etc.:

100%

Narita International Airport
Corporation

National government:

New Kansai International
Airport Company, Ltd.

100% National government:

Central Japan International
Airport Co., Ltd.

Private corporations, etc.:
100% National government:
Local governments:

Osaka International Airport
Terminal Co., Ltd.

50%
Local governments:
50%
40%
Private corporations, etc.: 50%
10%

Source: Created based on the Suji De Miru Koku 2012 (Air Travel 2012 in Figures) andsecurities reports and the websites of the various companies(Reference) Basic position of terminal building companies

Operators of the airport facilities
Runways, taxiways and aprons:
Installed and managed by national government, local governments, and Narita/New Kansai/Central Japan
airport companies
Terminal buildings and cargo terminals: Constructed, owned, and managed by private corporations, third sector bodies, and airport companies, etc.
Maintenance area:
Constructed, owned, and managed by private corporations and airline companies
JAT has been designated as an Airport Facilities Operator* by the Minister of Land, Infrastructure, Transport and Tourism pursuant to
Article 15, Paragraph 1 of the Airport Act.
*Enterprise that constructs or manages airport facilities (passenger or cargo handling facilities or aircraft refueling facilities necessary foran airport to perform its functions).

Relationship with airline companies
JAT leases facilities such as check-in counters and offices.

Relationship with merchandise stores, restaurants, and service stores
JAT leases store/office space to the passenger terminal building companies which open their own stores, or to the tenants of airlinerelated companies. Those companies need filings to operate sales at the airports.
30

JAPAN AIR TERMINAL(2) Company History
Haneda Airport was re-launched as Japanese air gateway after being returned by the U.S. in 1952. However, on account of a lack of financial
resources after the war, only the costs for paving the taxiway and apron were included in the national budget. Therefore, it was decided tobuild the terminal with private funds (cabinet approved), and in 1953 the Company was founded with the cooperation of major
financial institutions (with capital 150 million yen), and the terminal was opened in May 1955.
1953 (July)
1955 (May)1964 (April)

1978
1990
1991
1993
1994
1998
2001
2002
2003
2004
2005
2006

2007

2008
2009
2010

2011

Established with private sector capital of 150 million yen.
The terminal building opened and launched operation.
Separate domestic arrival terminal building completed in time with the Tokyo Olympic
Games.
(October)Duty-free sales operations commenced.
(May)
Commenced merchandise sales including duty-free articles, hotel reservation services
and other operations with the opening of Narita International Airport.
(February)
Listed on second section of the Tokyo Stock Exchange.
(September) Listed on first section of the Tokyo Stock Exchange.
(September) Haneda Airport Terminal 1 (Big Bird) started operation.
(September) Launched commissioned operation of duty-free stores and wholesale of duty-free goods
accompanying opening of the Kansai Airport.
(March)The temporary international terminal at Haneda Airport started operation.
(February)
International charter flights commenced at Haneda Airport.
(April)Terminated periodic international flights from Haneda Airport (transfer of China Airlines
and the EVA Airways to Narita).
(November) International charter flights between Haneda and Seoul (Gimpo) commenced.
(December) Terminal 2 at Haneda Airport started operation.
(February)
Wholesale of duty-free goods commenced with the opening of Central Japan International
Airport.
(April)Participated in the project of the maintenance and operation of terminal at international
flight area of the Tokyo International Airport.
(June)
Invested in the special purpose company (SPC) “Tokyo International Air Terminal
Corporation.”(February)South Pier in Terminal 2 at Haneda Airport started operation.
(September) International charter flights between Haneda and Shanghai (Hongqiao Airport)commenced.
(December) P4 multi-story simple parking lot completed construction and started operation.
(April)International charter flights between Haneda and Hong Kong commenced (during specifichours).
(April)Designated as an Airport Facilities Operator under the revised Airport Act.
(October)International charter flights between Haneda and Beijing commenced.
(August)P4 multi-story parking main building started operation (full-scale operation scheduled in
October).
(October)
The extended part of Terminal 2, Haneda Airport started operation.
The new International Passenger Terminal (TIAT) started operation.
Closure of the temporary International Passenger Terminal Building, end of P5 operation(January)
Established Japan Airport Terminal Trading (Chengdu) Co.,Ltd.
(November) Renewal of Terminal 1 building, Haneda Airport completed.

31

Haneda Airport Terminal when opened

Haneda Airport Terminal 1

Haneda Airport Terminal 2

JAPAN AIR TERMINAL(3) The Group’s business expansion at each airport
Haneda Airport (Tokyo International Airport)
Terminal 1

Terminal 2(area under management: 292,400m2)(area under management: 245,100m2)• Construction, management,
and operation of terminalbuildings• Real estate leasing• Merchandise sales(direct management)• Food and beverage services(direct management)• Passenger services• Preparation/sales of in-flightmeals

Started operation in September 27, 1993

International Passenger Terminal (constructed and managed by
Tokyo International Air Terminal Corporation)
Business under contract• Facilities
maintenance/management• duty-free store operation, etc.
• Passenger services

Started operation in October 21, 2010

Narita International Airport• Wholesale and merchandise
sales• Food and beverage services

Kansai International Airport• Merchandise sales (duty-free stores, etc.)• Commissioned management of• Wholesale (duty-free items, general items),
duty-free storescommissioned management of duty-free stores • Merchandise sales• Food and beverage service• Wholesale• Passenger services• Preparation/sales of in-flight meals
32

Started operation in December 1, 2004
South Pier started operation in February 15, 2007
The extended part of Terminal 2 started operation in October 13, 2010

Parking lots
Management of parking lots
(total of 4,776 spots)• P1 parking lot
2,351 spots• P4 parking lot
2,425 spots
1994.9.4 開港

Central Japan International
Airport• Wholesale

2005.2.17 開港

Chengdu Shuangliu
International Airport (China)• Merchandise sales• Wholesale

JAPAN AIR TERMINAL(4) Group companies (15 companies)
Facilities management operations (6 companies)

Japan Airport Terminal Co., Ltd.

[Maintenance and management]• Japan Airport Techno Co., Ltd.
• Haneda Airport Security Co., Ltd.
• Sakura Clean Corporation[Service]• BIG WING Co., Ltd.
• Haneda Passenger Service Co., Ltd.
• Japan Airport Ground Handling Co., Ltd.

Maintenance management of facilities such as airport terminals
Security service and management of parking area
Operation of airport cleaning center and waste deposal
Advertising and event planning
Passenger service operations
Ground handling operation at Haneda Airport

Merchandise sales operations (5 companies)• International Trade Inc.
• Japan Airport Logitem Co., Ltd.
• Japan Airport Terminal Trading(Chengdu) Co., Ltd.
• Haneda Airport Enterprise Co., Ltd.
• Hamashin Co., Ltd.

Retail and wholesale of general merchandise and bonded goods to stores at domestic airports
Logistics, including transportation and inspection
Merchandise sales and wholesale operations at Chengdu Shuangliu International Airport(Sichuan Province, China)
Operation of stores at Haneda Airport and Narita International Airport
Retail and wholesale of marine products

Food and beverage operations (4 companies)• Tokyo Airport Restaurant Co., Ltd.
• Cosmo Enterprise Co., Ltd.

• CTT Inc.
• Kaikan Kaihatsu Co., Ltd.

Restaurant business and production/sales of snacks at Haneda Airport and Narita International
Airport and operation of paid waiting rooms and conference rooms at Haneda Airport
In-fight catering for foreign airlines such as American Airlines, British Airways, Singapore Airlines,
Cathay Pacific Airways, China Airlines, Virgin Atlantic Airways, Emirates Airline, Qatar Airways
leaving Haneda Airport and Narita International Airport, and production of frozen foods, etc.
Cleaning of airline cabin items and dishware, etc.
Operation of restaurants and the management of lodgings, halls, and conference rooms, etc.

•

In January 2011, the Company established Japan Airport Terminal Trading (Chengdu) Co., Ltd., (capital 85 million yen, investment ratio 100.0%) as a subsidiary specializing
in merchandise sales and wholesale operations at Chengdu Shuangliu International Airport (Sichuan province, China).

•

In July 2011, BIG WING Co., Ltd. merged with its consoildated subsidiary Hiro International Co., Ltd.

33JAPAN AIR TERMINAL(5) Composition of the Group businesses(consolidated, by segment / results for the first half of FY12)
Composition of sales

Other 1% (1%)
In-flight meals 3% (3%)

Rent revenue

10% (12%)
Restaurants 7% (7%)
Food andbeverage
operations

11%

Other

(11%)

23% (23%)

Facility user
chargesrevenue

Facilities
management
operations

11% (12%)

31%
(34%)

Merchandise sales
operations
Other 10% (10%)

58%
(55%)
Stores atinternationalterminal

Stores atdomestic terminal

13% (10%)22% (22%)*Figures in parenthesis are results for the first half of FY11.
34

JAPAN AIR TERMINAL(6) Revenue composition (consolidated, by segment)
Category
Rent revenue
Facilities
management
operations

Facility user
charges revenue
Others

Revenue details
Office lease (fixed rent); store lease (fixed rent + percentage
commission)

Depreciation; water, heating, energy
expenses; repairs expenses; lease fee (suchas national property usage fee); taxes andUser charges for common facilities of domestic flights frompublic charges; cleaning expenses;
airline companies; Fees for use of passenger facilities (domestic
outsourcing fees
flights: PFC
Lease fee (such as national property usage
Parking fee revenue, advertising revenue; sales from paidfee); taxes and public charges (fixed asset
waiting room (Airport Lounge); revenue from subcontracted worktax); outsourcing fees

Stores at domestic
Merchandise sales for stores at Haneda Airport
terminal
Merchandise
sales
operations

Stores atinternationalterminal
OthersFood andbeverage
operations

Expenses details

Merchandise sales for lobby stores at Haneda Airport
Merchandise sales for stores such as duty-free stores at Narita
International Airport

Cost of sales; supply expenses
Cost of sales; supply expenses; percentage
of business

Wholesale to Haneda Airport, Narita International Airport, KansaiInternational Airport, and Central Japan International Airport
Cost of sales and agent service fee
Commissioned management fee of Haneda Airport, Narita
International Airport, and Kansai International Airport

Restaurants

Restaurant sales at Haneda Airport and Narita International
AirportFood expenses (cost of sales for food andbeverage), percentage of businessIn-flight meals

Production and sales of in-flight meals

Food expenses (cost of sales for food andbeverage)

Wholesale of products such as frozen foods and box meals

Food expenses (cost of sales for food andbeverage)

Others

Factors behind changes in earnings: Environment the airline industry operates in (such as changes in the number of passengers on bothinternational and domestic flights)
Government measures, etc. (such as the government’s and regulating authority’s airport management
policy and revisions to and changes to the system of usage fees for national assets)
Changes in facility user charges (domestic flights)
35

JAPAN AIR TERMINAL(7) Sales by region and segment (Non-consolidated)

By segment

By region(Haneda Airport)
KansaiInternational
AirportNaritaInternational
AirportUpper figure: actual results for the first half of FY12
(Lower figure): actual results for the first half of FY11

Sale ofmerchandise
46%
(44%)

6%
(6%)

14%

Rent
revenue
21%
(23%)

(12%)
HanedaAirport76%(78%)

Central Japan
International Airportand others

2%
(2%)

Development ofCompany-owned
land(Effective use of landpreviously used for dorms
and company housing)Otherrevenues
8%
( 7%)

2%
(2%)

36

Facility user
chargesrevenue25%(26%)

JAPAN AIR TERMINAL(8) Facilities of Tokyo International Airport (Investment plan)

Terminal 2
ANA, ADO, SNA, SFJ
Fixed Spots : 20

[Fourth Stage of the Plan]･Expansion and Renovation of 3 spots
Investment amount: ¥7.6 billion
Scheduled to start operation in FY13

[International Terminal Dismantling Works]･ Dismantling works
Investment amount: ¥0.4 billion
Scheduled in FY11Ｐ４[Construction of P4 Multi-story Parking Lot]･ Full-scale multi-story parking lot
Started operation in August 2010

[Third Stage of the Plan]･ Main building
Started operation in October 2010

[Terminal 1 Renovation Project]･ Arrangements for environment, stores,
other facilities
Investment amount: ¥7.0 billion
Scheduled to complete in FY10-11[Installation Upgrading Works]

Terminal 1
JAL Group, SKY, SFJ
Fixed Spots: 24
37･ Upgrading of the passenger boarding
bridge at Terminal 1, upgrading of
installations at Terminals 1 & 2
Scheduled to complete in FY10-12

JAPAN AIR TERMINALJAPAN AIR TERMINAL
2．Efforts Related to the Tokyo International Airport Re-expansion Project(1) Re-expansion Project of Tokyo International Airport

Runway Construction
Project
Construction started: FY06
2006
Expected
Operationopening:
started:
October 21, 2010

New Runway D
Runway C

Terminal 2

Runway B

With the additional expansion, landing slots will
increase by 1.3 times

Terminal 1
Runway A
Newly opened
stations of Keihin
Express Tokyo
MonorailFor
Hamamatsu-choKeihinExpress[Before the re-expansion]
303 thousand slots a year (on daytime)(equivalent to 830 slots a day)Tokyo
MonorailInternational
Terminal

Increase of 104 thousand slots a year (or 284 slots a day)
Of which, around 60 thousand slots arefor international flights (on daytime)

International Section
Development Project(by PFI)

Ebitori River
Tama River

Operation started:
October 21, 2010

[After the re-expansion] (from FY13-end)
407 thousand slots a year

Mt. Fuji
Kawasaki City(on daytime)(equivalent to 1,114 slots a day)For
Keikyu Kamata*

38

Estimated based on the materials from the Study Group meeting for slot
allocation standards at Haneda Airport (July 2009) and the Growth Strategy
Council of MLIT (April 2010) from the Ministry of Land, Infrastructure, Transport
and Tourism

JAPAN AIR TERMINAL(2) Founding and present state of the Tokyo International Air Terminal Corporation
April 21, 2006

“HKT Group”, represented the Company, was selected
as the candidate for the project
June 1, 2006
HKT Group concluded basic agreement with theJapanese government
June 20, 2006
The special purpose company, Tokyo International Air
Terminal Corporation was founded
July 7, 2006
Business agreement was concluded between the Tokyo
International Air Terminal Corporation and theJapanese government
October 21, 2010 Placed in operation

1. Company
Name

Tokyo International Air Terminal Corporation

2. Date Founded

June 20, 2006

3. Headquarters
Location

Haneda Airport, Ota-ku, Tokyo

4. Capital

9.0 billion yen

5. Businesses

Maintenance and management of the terminalbuilding in the international section of Tokyo
International Airport

6. Representative Masashi Sakurai, President (previously Vice
President of Japan Airport Terminal Co., Ltd.)

June 2011

April 2012

Revised agreement on the maintenance and management of theterminal building in the international section of the Tokyo
International Airport was concluded between Tokyo International Air
Terminal Corporation and the Japanese government
・ Partial renovation and expansion of the main terminal building
・ Expansion of satellite and multi-story parking
・ Newly-built hotel
Publicly invited bids to perform passenger terminal building andother expansion work••

July 2012

Terminal Building (4 sections)
1. Main building
2. Main building, satellite
3. Satellite
4. Satellite
Expansion of multi-story parking (1 section)

Conclusion of subcontract agreement for expansion of passenger
terminal building and other areas••

Terminal Building
1. Main building: Taisei Corporation
2. Main building, satellite: Taisei Corporation
3. Satellite: Takenaka Corporation
4. Satellite: Takenaka Corporation
Expansion of multi-story parking : Taisei Corporation

7. Composition of Japan Airport Terminal Co., Ltd.
(38.78%)
Shareholders
Japan Airlines Corporation(19.36%)
All Nippon Airways Co., Ltd.
(19.36%)
Narita International Airport Corporation(4.5%)
Tokyo Electric Power Company, Inc.
(3.5%)
SECOM Co., Ltd.
(3.0%)
Tokyo Gas Co., Ltd.
(3.0%)NTT Data Corporation(1.5%)
Keihin Electric Express Railway Co., Ltd. (2.0%)
Tokyo Monorail Co., Ltd.
(2.0%)Development Bank of Japan Inc.
(1.0%)
Mizuho Corporate Bank Ltd.
(1.0%)
Bank of Tokyo-Mitsubishi UFJ Ltd.
(1.0%)

8. Corporate
Philosophy

November 2012 Expansion work started
March 2014 (plan) Start provisional use
October 2014 (plan) Started full-scale use

As the gateway to the nation’s capital, Tokyo, wewill endeavor to continue providing cutting-edge
terminal facilities and services to customers fromacross the world and thus contribute to thedevelopment of the international aviation network.

Note:

39

Created by the Company based on material from the Tokyo
International Air Terminal Corporation

JAPAN AIR TERMINAL(3) Summary of the New International Terminal
Summary of facilities
approx. 130,000m2• Site area:• Terminal building
Floor space:approx. 159,000m2(including water supply and waste disposal facilities)

Floors:Fixed spots:

5 floors
10 spots(10 open spots)• Parking lot
Total floor space:
Floors:Capacity:

approx. 67,000m2
6 levels, 7 floors
approx. 2,300 vehicles

Legends
Path for general departure passengers
Path for group departure passengers
Path for VIP departure passengers
Service for affluent passengers
Path for general arrival passengers
Path for VIP arrival passengers

Terminal
Observation deck

Airside Area

Market Place
3F General
Information
Counter

Monorail

Departure Lobby

Departure Passengers Security check

Parking lot forAccess Hall

airport users
Connecting
passageway

2F General
Information
Counter

ArrivalLobby

1F General
Information
Counter

EntrancePlazaBus

Customs Immigration and Quarantine(Customs) / Baggage Claim Area

CIQ

Departure
Concourses
Gate Lounge

Customs Immigration andQuarantine(Immigration, Quarantine)

Passenger boarding
bridgeArrivalConcourses

Arrival Passengers
Machinery Room

Airport Limousine departure

Luggage handling Area

Airport Limousine arrival

Taxi
Bus 1F Cab-side Check-in Counter
Keihin Express

In the five floors terminal, the 3rd floor is for departures, and 2nd floor is forarrivals, both of which are designed flat, for easy movement, and with asimple and easy-to-understand layout. In addition, the 1st floor is for roadlevel access, and the 4th and 5th floors are commercial and service space.
Note:

40

Created by the Company based on material from the Tokyo
International Air Terminal Corporation

JAPAN AIR TERMINAL(4) Overall layout of the new International area

Apron area

Cargo area

Haneda Airport International Apron PFI Co., Ltd.
(Representative company: Taisei Corporation)

Tokyo International Air Cargo Terminal Ltd.
(Representative company: Mitsui & Co., Ltd.)

Terminal building area
Land fordevelopment

Tokyo International Air Terminal Corporation(Representative company: Japan Airport Terminal Co., Ltd.)

Kan-pachi RoadTokyo Monorail
Actual area for the construction and operation of TB

Airport accessroad*Including the land for the CIQ facilities directly managed by the national
government (around 115m × 50m)

Terminal building construction/operation business (within
leased air space)

Actual area for the construction and operation of the cargoterminal

Keihin Express

Including the land for the CIQ facilities directly managed by the national
government (around 100m × 80m)

Actual area for construction of the
apron
Other major businesses (Keihin Express andTokyo Monorail)

41

Created by the Company based on material from the Ministryof Land, Infrastructure, Transport and Tourism

JAPAN AIR TERMINALTERMINAL
3. Changes in Passenger Volume on Domestic and International Flights (HanedaJAPANandAIRNarita)(Ten thousand
passengers)

6,526 6,495

Haneda Airport – domestic
passengers (left axis)

6,180 6,196 6,163 6,229

5,416

5,568

5,141

5,000
4,302

4,000

3,000

5,933 5,880

5,854

6,000

4,446

4,630

6,315

Financial crisis being
triggered by the US

4,863

900
800

5,642

SARS outbreakTerminal 2 opened at Haneda

9-11 Terrorist Attack in the US(Ten thousand
passengers)

724

5,887

H1N1 influenza
outbreak

700
600

The Great East
Japan Earthquake

Narita International Airport – international
flight passengers (left axis)
3,207
2,470

2,675 2,631 2,587
2,577

2,768

2,945

3,397 3,356 3,418 3,416

2,677

500

481
3,151 3,151

2,886

Haneda international flight passengers

Passengers using Haneda domestic flights and Narita international flights

7,000

New International
Terminal started
operation
Expanded Terminal 2 atHaneda Airport 791

3,082

2,964
2,692

400
300

2,000

275 Launch of Beijing flights

Haneda Airport – international
flight passengers (right axis)

Launch of Gimpo flights
International charter
flights moved to Narita

1,000

0

72

81

87

84

85

85

97

95

14

35

243 Increase in flights to Hong Kong

200

195 Launch of Hong Kong flights
84
130

161

100

Launch of Shanghai flights

Increase in flights to Gimpo

0
Fiscal year

'95.3 '96.3 '97.3 '98.3 '99.3 '00.3 '01.3 02.3 '03.3 '04.3 '05.3 '06.3 '07.3 '08.3 '09.3 '10.3 '11.3 '12.3 '13.3(Forecast)
42

Source: Created by the Company based on material from the Ministry of Land, Infrastructure,
Transport and Tourism and the Narita International Airport Corporation

Notes regarding projections
Items such as plans, targets, policies, strategies, decisions, financial forecasts, future figures and monetaryamounts in this presentation that is not historical data are projections of the future. These are based on
management’s projections, assumptions, evaluations, judgments, and conditions on information obtainable atthe present time. Realizing these items entail uncertainty and various risks and uncertainty.
This presentation material is not intended to solicit investments. We requests you to make own decision
regarding investments.

Contact

Japan Airport Terminal Co., Ltd., Corporate Planning Division, PR/IR Office
TEL: 03 (5757) 8030
FAX: 03 (5757) 8099
Email: ir@jat-co.com