Kansai International Airport Company, Ltd.
Consolidated Balance Sheets
March 31, 2009 and 2008

Millions of Yen
2009
2008

ASSETS
CURRENT ASSETS:
Cash and cash equivalents:
CashTime deposits
Total cash and cash equivalents
Receivables:
Trade accounts
Other
Other current assets
Allowance for doubtful accounts
Total current assets
PROPERTY, PLANT AND EQUIPMENTLand
Buildings and structures
Machinery and equipment
Furniture and fixtures
Construction in progress
Total
Accumulated depreciation
Net property, plant and equipment
INVESTMENTS AND OTHER ASSETS\21,868\Thousands ofU.S. Dollars
2009$21,868

10,706400
11,106

223,1425,434
150
1,726(17)6,190
742,248(13)55,4491,531
17,612(173)

29,161

19,605297,561

1,054,822
844,863
99,654
18,936384,960
2,403,235(453,697)

995,156
851,788
97,922
18,457437,576
2,400,899(423,126)

10,763,490
8,621,051
1,016,878
193,224
3,928,163
24,522,806(4,629,561)

1,949,538

1,977,773

19,893,245

2,895

3,832

29,541

223,142

LIABILITIES AND EQUITYCURRENT LIABILITIES:
Short‐term bank loans
Current maturities of long‐term debt
Payables:Trade accounts
Construction and other
Other current liabilities\ 1,981,594\ 2,001,210$ 20,220,347\34,000
126,125\14,100
138,104

Thousands ofU.S. Dollars
2009$

346,939
1,286,990

3,636
5,888
7,523

3,675
12,481
10,42937,10260,082
76,765

177,172

178,789

1,807,878

1,194,305
9,382
2,809

1,205,137
10,125
2,532

12,186,785
95,73528,663

1,206,496

1,217,794

12,311,183

812,650(214,999)

812,550(208,265)

8,292,347(2,193,867)

Total

597,651

604,285

6,098,480

Minority Interests

275

341

2,806

597,926\ 1,981,594

604,626\ 2,001,210

6,101,286$ 20,220,347

Total current liabilities
LONG‐TERM LIABILITIES:Long‐term debt
Long‐term deposits received
Other long‐term liabilities
Total long‐term liabilities

EQUITY
Common stock, 17,542 thousand sharesauthorized in 2009 and 2008;
16,253 thousand and 16,251 thousand sharesissued and outstanding in 2009 and 2008
Deficits

Total equity
TOTAL

Millions of Yen20092008

TOTAL

Kansai International Airport Company, Ltd.
Consolidated Statements of Operations
Years Ended March 31, 2009 and 2008

Millions of Yen
2008
2009
OPERATING REVENUES:
Airport facilities
Airport service
Airport ‐ other
Railway facilities
Total operating revenues\OPERATING EXPENSES:
Airport ‐ facilities and service operations
Airport ‐ other operations
Airport ‐ selling, general and administrative
Airport ‐ depreciation
Total airport operating expenses

56,151
18,553
19,876
4,593
99,173\59,00019,736
22,592
4,786
106,114

Thousands ofU.S. Dollars
2009$572,970
189,316
202,816
46,867
1,011,969

28,986
8,811
9,605
30,292
77,69427,895
10,072
10,431
29,09077,488295,775
89,90898,010309,102792,795

Railway facilities ‐ operations
Railway facilities ‐ general and administrative
Railway facilities ‐ depreciation
Total railway operating expenses

905
142
2,691
3,738

940
132
2,530
3,602

9,235
1,449
27,45938,143

Total operating expenses

81,43281,090830,938

17,741

25,024

181,03158
9,000(22,744)592
91,837(232,082)(110,143)(249,796)

OPERATING INCOME
OTHER INCOME(EXPENSES):Interest income
Government subsidy
Interest expence
Amortization of deferred charges
Other ‐ net
Other expenses ‐ net(10,794)(24,480)243
9,000(22,672)
(93)
(595)
(14,117)

INCOME BEFORE INCOME TAXES AND
MINORITY INTERESTS(6,739)10,907(68,765)

INCOME TAXES
Current
Deferred
Total income taxes

92
(31)
61

63
(13)
50939
(317)
622

MINORITY INTERESTS IN NET INCOME OFSUBSIDIARIES

(66)

(10)

(673)

10,867(68,714)NET INCOME\(6,734)\Yen

INCOME PER COMMON SHARE\(414.31)\U.S. Dollars
669.56$(4.2)

Kansai International Airport Company, Ltd.
Consolidated Statements of Changes in EquityYears Ended March 31, 2009 and 2008
Millions of Yen

Thousands
IssuedNumber ofShares ofCommon Stock
BALANCE, APRIL 1, 2007

16,218

Shareholdersʹ Equity\CommonStock

Deficits

810,900\ (219,133)

Issuance of common stock
Net income
Net change in the year

33

BALANCE, MARCH 31, 2008

16,251

812,550Issuance of common stock
Net income
Net change in the year

2

100

BALANCE, MARCH 31, 2009

16,253

Total\1,650812,650(208,265)

604,285(6,734)100(6,734)\ (214,999)\351\1,65010,868

10,868\591,767

Total
EquityMinority
interest\597,651\592,118(10)1,650
10,868(10)341

604,626(66)

100(6,734)
(66)

275

\597,926

Kansai International Airport Company, Ltd.
Consolidated Statements of Changes in Equity
Years Ended March 31, 2009 and 2008
Thousands of U.S. dollars
Shareholdersʹ Equity
CommonStock

Deficits

Total

BALANCE, MARCH 31, 2008

$ 8,291,327$ (2,125,153)$ 6,166,174

Issuance of common stock
Net income
Net change in the year

1,020
(68,714)1,020(68,714)BALANCE, MARCH 31, 2009

$ 8,292,347$ (2,193,867)$ 6,098,480$$

Minority
interest

TotalEquity

3,479$ 6,169,653

(673)

1,020
(68,714)
(673)

2,806

$ 6,101,286