Japan Expressway Holding and Debt Repayment Agency

Profit and Loss Statement
Accounts title

Ordinary expenses
Road asset leasing expenses(Note: The values are rounded down to the nearest unit, so the calculation results may be different.)
FY 2019 (B)Balance (B)-(A)Details of accounts title

FY 2018 (A)100 million yen

100 million yen

100 million yen

14,295

14,021▲ 274

10,321

10,587＋ 266

Depreciation costs related to leased road assets, loss on retirementof fixed assets, taxes and public dues, etc.
Granted amount for management efforts to help reduce the cost ofroad construction
Depreciation costs related to railway facilities, taxes and publicdues, cost for consigning payment management, etc.

Grant for management
efforts
Railways facility usage fee

22▲08786▲0Administrative expenses(Labor cost)(Expense)

15(9)
(5)

14(9)
(4)

▲0(＋ 0)
(▲ 1)

3,080

2,813

▲ 267

Necessary expenses for procurement and redemption of interestand fundRoad asset acquisition
related cost

783505▲ 278

Company's labor costs, expenses, and interest rate during roadconstruction, which are accounted as period expenses at the timeof asset attribution

Miscellaneous

411＋621,014

20,807▲ 20720,67920,493▲ 186

Financial expenses

Ordinary income
Road asset leasing fee

Leasing fee of road assets

Railway facility usage fee

76▲0Leasing fee of railway facilities

Miscellaneous income

157138▲ 19

Occupation charge, consolidated fee related to SA/PA, etc.

Reversal of contraaccounts for assets

8783▲4The amount equivalent to depreciation expenses related to roadassets accounted as a reversal of contra-accounts for assets, whichis monetized by reversing the contra-accounts

Reversal of contraaccounts for railway
facilities

8079▲0The amount equivalent to depreciation expenses related to railway
facilities accounted as a reversal of contra-accounts forconstruction, which is monetized by reversing the contra-accounts

Financial income

01＋0

Received interest

Miscellaneous income

14＋36,718

6,785＋ 67

Extraordinary losses

4002▲ 398

Extraordinary income

288265▲ 226,606

7,048＋ 442

11▲06,607

7,050＋ 442

Ordinary profit

Annual net profit
Reversal of reserve fundcarried over from theprevious mid-term target
Annual gross profit

Reversal of reserves for the Project to Promote the Effective
Utilization of Expressways etc.

The amount equivalent to a depreciation of fixed assets acquiredby own income during the previous mid-term target period etc.

Ordinary expenses
The total amount of ordinary expenses is 1,402.1 billion yen. Most of the amount is (a) 1,058.7 billion yen for "road asset leasing expenses", which is dominatedby the depreciation expense for road assets, and (b) 281.3 billion yen for "financial expenses" such as interest on bonds and borrowings. The total amount of(a) and (b) is 1,340 billion yen, accounting for about 95% of the total.
Ordinary income
The total amount of ordinary income is 2,080.7 billion yen. Most of this is "road asset leasing fee", which is 2,049.3 billion yen, accounting for about 98% of thetotal.
This "road asset leasing fee" is the agreed planned amount of 1,898.4 billion yen plus the variable leasing fee of 150.8 billion yen.
Ordinary profit
As a result, the ordinary profit became 678.5 billion yen.
Extraordnary losses
The extraordinary loss is 0.2 billion yen due to the sale of land and other fixed assets.
Extraordinary income
Extraordinary income was 26.5 billion yen. The main reason for this is the "reversal of contra-accounts for the Project to Promote the Effective Utilization ofExpressways" of 25.9 billion yen, accounted to cover the decrease in the leasing fee due to the project.
Annual gross profit
The annual gross profit is 705 billion yen as a result of adding an extraordinary loss of 0.2 billion yen, an extraordinary income of 26.5 billion yen, and areversal of reserve fund carried over from the previous mid-term target period of 0.1 billion yen to the ordinary profit of 678.5 billion yen.