May 12, 2017

Financial Report for the Year Ended March 31, 2017 (FY2016) [J-GAAP] (Consolidated)
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.

Company name: Japan Airport Terminal Co., Ltd.
Listed stock exchange: Tokyo, 1st Section
Code number: 9706
URL: http://www.tokyo-airport-bldg.co.jp/company/en/
Representative: Nobuaki Yokota, President and COO
Contact: Kazuhito Tanaka, Managing Director
TEL 03-5757-8030
Scheduled date of annual general meeting of shareholders: June 29, 2017
Scheduled date of filing securities report: June 29, 2017
Scheduled date of commencing dividend payment: June 30, 2017
Supplementary materials on financial results (yes/no): Yes
Holding of earnings announcement (yes/no): Yes (for institutional investors and financial analysts)(Figures are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the Year Ended March 31, 2017 (April 1, 2016 to March 31, 2017)(1) Consolidated Business Results(%: Change from the previous period)
Net income attributable toOperating revenues
Operating income
Ordinary income
owners of the parent

%
0.4
17.7

Millions of yen

FY2016FY2015204,953
204,134%(16.0)
14.3

Millions of yen

9,497
11,302(Note) Comprehensive income: FY2016 ¥9,739 million (20.1%)

12,843
13,654

Millions of yen

6,886
8,870

%
(22.4)
33.4

FY2015 ¥8,110 million (-14.5%)

Net income per
share
Yen

Diluted net income
per share
Yen

84.78
109.2080.84
104.21FY2016FY2015

%
(5.9)
15.2

Millions of yen%

Ordinary income tototal assets%

Operating income tooperating revenues
%

5.8
7.9

5.9
6.2

4.6
5.5

Return on equity(Reference) Equity in earnings of affiliates: FY2016 ¥2,291million

FY2015 ¥1,529 million(2) Consolidated Financial Position
Total assets

Equity capital tototal assets

Net assets

Net assets per share

Millions of yen

Millions of yen%

Yen

213,026
222,542

125,438
118,39457.7
52.1

1,511.92
1,427.66

As of March 31, 2017
As of March 31, 2016

(Reference) Equity capital: As of March 31, 2017 ¥122,811million

As of March 31, 2016 ¥115,967 million(3) Consolidated Cash Flows
Cash flows from operating
activities

Cash flows from investing
activities

Cash flows from financing
activities

Cash and cash equivalents
at the year-end

Millions of yen

Millions of yen

Millions of yen

Millions of yen

15,62015,235(8,373)(7,810)(11,702)(10,759)

39,10843,565FY2016FY2015
2. Dividends

Dividends per share

Total
dividends(annual)Dividend
payout ratio(consolidated)

Dividends on
net assets(consolidated)

Q1-EndQ2-EndQ3-EndYear-End

Annual

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

-

15.00
16.00

-

18.00
17.00

33.00
33.00

2,680
2,680

30.2
38.9

2.4
2.2

-

18.00

-

18.00

36.00

FY2015FY2016FY2017(Forecast)

32.9

3. Forecast of Consolidated Financial Results for the Year Ending March 31, 2018 (April 1, 2017 to March 31, 2018)(%: Change from the same period of the previous year)

Operating revenues
First half
Full-year

Operating income

Net income attributableto owners of the parent

Ordinary income

Net income
per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

103,400
208,600

3.6
1.8

5,200
10,500

16.5
10.6

6,600
12,800

5.8
(0.3)

4,700
8,900

9.4
29.2

57.86
109.57Other Information(1) Significant changes in subsidiaries during the year under review (changes in specified subsidiaries involving changes in scope of
consolidation): None
New: None
Excluded: None
(2) Changes in accounting policies, accounting estimates, and restatement of revisions
1) Changes in accounting policies due to revisions of accounting standards, etc.: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Restatement of revisions: None
(3) Number of shares outstanding (common stock)1) Number of shares outstanding at the year-end (including treasury stock):
As of March 31, 201784,476,500 shares
As of March 31, 2016
2) Number of treasury stock at the year-end:
As of March 31, 2017
3,247,541 shares
As of March 31, 2016
3) Average number of shares outstanding during the period:
Year ended March 31, 201781,229,018 sharesYear ended March 31, 2016

(Reference) Summary of Non-Consolidated Financial Results
Financial Results for the Year Ended March 31, 2017 (April 1, 2016 to March 31, 2017)(1) Non-Consolidated Business Results
Operating revenues
Millions of yen

FY2016FY2015160,541
165,564

Operating income

%
(3.0)
17.4

6,552
8,532

%
(23.2)
25.0

Yen

Diluted net income per
share
Yen

38.86
57.90

36.94
55.16

Net income per share

FY2016FY2015

Millions of yen

84,476,500 shares
3,247,422 shares
81,229,164 shares(%: Change from the previous period)

Ordinary income
Millions of yen

7,832
9,538

Net income%(17.9)
24.0

Millions of yen

3,156
4,703

%
(32.9)
9.0(2) Non-Consolidated Financial Position
Total assets

As of March 31, 2017
As of March 31, 2016
(Reference) Equity capital:

Net assets

Equity capital tototal assets

Net assets per share

Millions of yen

Millions of yen%

Yen

190,788
201,488

100,498
99,553

52.7
49.4

1,237.22
1,225.59

As of March 31, 2017

¥100,498 million

As of March 31, 2016

¥99,553 million* This financial report is not subject to the audit procedures in accordance with the Financial Instruments andExchange Act of Japan.
* Statements regarding the proper use of financial forecast and other special remarks
Notes on the use of forward-looking statements
The forecast of the business results reported herein was prepared based on information the Company had in its possession as of thetime this report was prepared and on certain assumptions judged to be reasonable. The Company makes no guarantee that thesefigures will be achieved. Actual results may differ significantly from forecasts due to various factors. For the assumptions used infinancial forecasts and precautionary statements regarding the use of the forecasts, please refer to page 4 of the appendix materials “1.
Analysis of Business and Financial Results (4) Forecast for the fiscal year ending March 31, 2018.
Supplementary materials on financial results and details of presentation at earnings announcement
Earnings announcement is planned to be held on May 19, 2017 for financial analysts. Video of the presentation as well as
presentation materials used in the earnings announcement will be promptly posted on the Company’s website following the meeting.

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)

Contents of the Appendix Materials
1.

ANALYSIS OF BUSINESS AND FINANCIAL RESULTS ..................................................................................... - 2 -(1) ANALYSIS OF CONSOLIDATED BUSINESS RESULTS FOR FY2016 .................................................................................. - 2 (2) ANALYSIS OF CONSOLIDATED FINANCIAL POSITION FOR FY2016 ................................................................................ - 3 (3) ANALYSIS OF CONSOLIDATED CASH FLOWS FOR FY2016 ............................................................................................ - 4 (4) FORECAST FOR THE FISCAL YEAR ENDING MARCH 31, 2018 ......................................................................................... - 4 2.

BASIC APPROACH ON SELECTION OF ACCOUNTING STANDARDS ............................................................. - 5 -3.

CONSOLIDATED FINANCIAL STATEMENTS AND MAIN NOTES ................................................................... - 6 (1) CONSOLIDATED BALANCE SHEETS .............................................................................................................................. - 6 (2) CONSOLIDATED STATEMENTS OF INCOME AND CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME ................. - 8 Consolidated Statements of Income ............................................................................................................................... - 8 Consolidated Statements of Comprehensive Income ...................................................................................................... - 10 (3) CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY .................................................................... - 11 (4) CONSOLIDATED STATEMENTS OF CASH FLOWS.......................................................................................................... - 13 (5) NOTES ON THE CONSOLIDATED FINANCIAL STATEMENTS .......................................................................................... - 15 (Notes on the Premise of a Going Concern) .................................................................................................................. - 15 (Basic Important Conditions to Prepare Consolidated Financial Statements) ................................................................... - 15 (Notes on Changes in Presentation) ............................................................................................................................. - 17 (Notes on Consolidated Balance Sheets) ...................................................................................................................... - 18 (Notes on Consolidated Statements of Income).............................................................................................................. - 19 (Notes on Consolidated Statements of Cash Flows) ....................................................................................................... - 19 (Segment Information) ............................................................................................................................................... - 20 (Per Share Information) ............................................................................................................................................. - 22 (Significant Subsequent Events) .................................................................................................................................. - 22 --1-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)

1. Analysis of Business and Financial Results(1) Analysis of Consolidated Business Results for FY2016
During the fiscal year ended March 31, 2017 (FY2016), the Japanese economy experienced a gradual trendof recovery, despite the fact that some sectors have seen slower pace of improvement. Looking ahead,continuing improvement in employment and income, coupled with various government policies, is expected tosupport moderate economic recovery, though it is important to prudently monitor the risk factors such as
uncertainty in overseas economies and volatility of capital markets.
The airline industry needs to further strengthen its competitiveness for a number of reasons that aretransforming our business environment, including increased competition caused by industry liberalization(open skies agreements) and expansion of routes by low-cost carriers (LCCs), reform of airport management
structures aimed at enhancing efficiency by integrating airport land and terminal building operations, andmovements aimed at strengthening functions of metropolitan airports. Furthermore, the Japanese government
revised upward its target for annual inbound tourists to Japan in 2020 from its previous target of 20 million to
40 million in order to meet the new challenge of a tourism-oriented developed nation, and the annual numberof inbound tourists for 2016 exceeded 24 million.
A review of passenger volume during FY 2016 shows that passengers on domestic flights at Haneda
Airport and on international flights at Haneda Airport, Narita International Airport, and Kansai International
Airport rose year-on-year.
Under these circumstances, JAT Group decided to lay out its new long-term vision of “To be a World Best
Airport” so that we can achieve sustainable growth through the creation of new businesses and the generation of
profits, while aiming to be an airport that satisfies the needs of all stakeholders. Based on this long-term vision,
the new medium-term business plan (FY2016 to FY 2020) identifies three strategic pillars: 1) Pursuit of theideal of Haneda Airport, 2) Expansion of our business domain utilizing our strengths and the diversification of
profits, and 3) Reconstruction of our profit base and the building of competitive advantages. We will continue toreposition and strengthen our organizational and governance structure to ensure that we effectively implement
these strategies.
In pursuit of the ideal Haneda Airport, we sought to enhance customer convenience, comfort, andfunctionality of the airport by creating facilities that are more user-friendly to both domestic and internationalcustomers, such as the opening of a multi-purpose restroom equipped with a dressing room, nursing room, andtoilets for children at Terminal 1. Furthermore, we started the “Haneda Robotics Lab” project which introduces
the experimental use of robots at Haneda to evaluate their technology, with an aim to introduce Japanesetechnology and to provide superior services that offer safety, security, and convenience to airport users. Keeping
the future of the airport’s operation in mind, we will continue to strive to create new value and improve service
quality and convenience for our customers.
To expand and diversify our business domain leveraging our strengths, as part of our efforts to create a newmarket, we opened an airport-style in-city duty-free shop (Japan Duty Free GINZA) on the eighth floor of the
Mitsukoshi Ginza department store in January 2016, Air BIC CAMERA at Haneda’s international terminal in
April 2016 that offers electronics and other popular products among foreign tourists and the same shop at
Narita’s terminal 2 in November 2016. Although merchandise sales fell year-on-year as “buying spree”
phenomenon has dwindled, we will try to generate profit by taking advantage of opportunities created by
inbound tourists that are expected to grow in the mid- to the long-term.
As a result, consolidated operating revenues for FY 2016 (April 1, 2016 – March 31, 2017) totaled¥204,953 million (up 0.4% from the previous fiscal year), with operating income of ¥9,497 million (down
16.0%), ordinary income of ¥12,843 million (down 5.9%), and net income attributable to owners of the parentof ¥6,886 million (down 22.4%) due to recognition of impairment loss on fixed assets of airport-style in-city
duty-free shop.
In the Skytrax (UK) World Airport Awards in 2017, Haneda Airport’s passenger terminals were awarded
second place in the World’s Best Airports category, which evaluates various aspects of international airports
comprehensively, a significant jump from fourth place last year. We were also awarded first place in theWorld's Cleanest Airport (the fourth time, for the second year in a row) and World's Best Domestic Airport(for the fifth year in a row). In a bid to further enhance our reputation, we will work cooperatively as anentire airport to move together in our preparations for the 2020 Tokyo Olympics and Paralympics Games.
With the highest priority placed on airport customers, we will ensure the safety of the airport and will provide
services that offer exceptional customer convenience, comfort, and functionality. Aiming to be the world’s
best passenger terminal and to earn the long-term trust of customers, we are committed to contributing to theadvancement of air transportation.
The following is a breakdown of earnings by segment. Note that the figures for operating income are
equivalent to those for segment income.

-2-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)[Facilities Management]
Rental revenue rose from the previous year due to a decrease in vacant spaces at domestic passenger
terminals at Haneda Airport as a result of our proactive marketing efforts to airlines and other companies.
Revenue from facility user charges rose from the previous year primarily because a growth in domestic
passenger volume increased user charges revenue for domestic terminal facilities.
Other revenues rose from the previous year because revenue from outsourcing business at Haneda’s
international terminal and revenue from advertisement increased.
As a result, operating revenues from facilities management operations increased to ¥56,801 million (up3.5% year-on-year). Operating income for the segment was ¥6,470 million (up 5.5% year-on-year) due to adecrease in utility costs and other reasons.
[Merchandise Sales]
Sales at domestic terminal stores rose from the previous year primarily due to an increase in domestic
passenger volume.
Sales at international terminal stores decreased from the previous year, since the “buying spree”
phenomenon has faded and resulting pullback in sales was seen at Narita Airport and Kansai International
Airport, which more than offsets the addition of revenue from the opening of an airport-style in-city duty-free
shop and other shops.
Other revenues (wholesale) fell due to a decrease in the wholesaling of products to other airports, despite
an increase in the wholesaling of products to stores at Haneda’s international terminal which saw growinginternational passenger volume.
As a result, operating revenues from merchandise sales operations decreased to ¥131,911 million (down
1.9% year-on-year) and operating income for the segment fell to ¥7,254 million (down 23.4% year-on-year),coupled with increased marketing costs at in-city duty-free shops.
[Food and Beverage]
Sales from food and beverage operations increased from the previous year primarily driven by growth indomestic passenger volume.
Sales from in-flight meals rose from the previous year since foreign carriers, our clients in this business,increased their flights and we also acquired a new client.
Other revenues increased significantly due to an increase in outsourcing business at Haneda’s
international passenger terminal.
As a result, operating revenues from food and beverage operations increased to ¥21,395 million (up 6.6%
year-on-year) and operating income for the segment increased to ¥757 million (up 34.2% year-on-year),coupled with various cost savings.
(2) Analysis of Consolidated Financial Position for FY2016[Assets]
Current assets decreased by ¥6,648 million from the previous fiscal year end to ¥67,555 million, primarily
due to a decrease in marketable securities by ¥7,002 million, despite an increase in cash and deposits by ¥2,573
million.
Fixed assets decreased by ¥2,868 million from the previous fiscal year end to ¥145,471 million, primarily
due to a decline in tangible fixed assets by ¥6,111 million resulting from the progress of depreciation, despite theincrease of investment securities by ¥3,168 million.
As a result, total assets decreased by ¥9,516 million from the previous fiscal year end to ¥213,026 million.
[Liabilities]
Current liabilities decreased by ¥7,761 million from the previous fiscal year end to ¥35,596 million,
primarily because accrued expenses decreased by ¥6,074 million and income taxes payable decreased by ¥954
million.
Fixed liabilities decreased by ¥8,798 million from the previous fiscal year end to ¥51,992 million,
primarily because long-term loans payable decreased by ¥7,712 million.
As a result, total liabilities decreased by ¥16,559 million from the previous fiscal year end to ¥87,588
million.
[Net assets]
Total net assets increased by ¥7,043 million from the previous fiscal year end to ¥125,438 million
primarily because retained earnings increased by ¥4,124 million and deferred losses on hedges improved by¥1,581 million.
As a result, equity ratio was 57.7% (compared to 52.1% at the previous fiscal year end).
-3-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(3) Analysis of Consolidated Cash Flows for FY2016
Cash and cash equivalents (hereinafter referred to as “cash”) at the current fiscal year end decreased by¥4,456 million compared to the previous fiscal year end to ¥39,108 million.
The following is a summary of cash flows and the factors behind these flows for the current fiscal year.
[Cash flows from operating activities]
Net cash provided by operating activities increased by ¥384 million (up 2.5%) from the previous fiscal yearto ¥15,620 million. This was primarily due to a decrease in inventories.
[Cash flows from investing activities]
Net cash used in investing activities increased by ¥562 million (up 7.2%) from the previous fiscal year to¥8,373 million. This was largely due to an increase in the purchase of tangible fixed assets.
[Cash flows from financing activities]
Net cash used by financing activities increased by ¥942 million (up 8.8%) from the previous year to ¥11,702
million. This was mainly because the amounts of dividends paid by parent company increased.

(4) Forecast for the fiscal year ending March 31, 2018
Over the next fiscal year, continuing improvement in employment and income, coupled with various
government policies, is expected to support moderate economic recovery, while it is also necessary to prudently
monitor the risk factors such as uncertainty in overseas economies and volatility of capital markets.
The airline industry needs to further strengthen its competitiveness for a number of reasons that aretransforming our business environment, including increased competition caused by industry liberalizationand expansion of routes by LCCs, reform of airport management structures aimed at enhancing efficiency byintegrating airport land and terminal building operations, and movements aimed at strengthening functions ofmetropolitan airports. Furthermore, the Japanese government revised upward its target for annual inboundtourists to Japan in 2020 from its previous target of 20 million to 40 million to meet the new challenge of a
tourism-oriented nation, and the annual number of inbound tourists for 2016 exceeded 24 million.
Under these conditions, our present expectations for earnings by segment are described below.
Facilities management operations are expected to generate better results than in FY2016 primarily driven by
an increase in outsourcing business at Haneda’s international passenger terminal.
Merchandise sales operations are forecast to exceed the results of FY 2016 due to growth in international
passenger volume.
Food and beverage operations are expected to remain nearly on par with FY2016.
Therefore, for consolidated performance in the fiscal year ending March 31, 2018 (FY2017), we forecast
operating revenue of ¥208,600 million (up 1.8% year-on-year), operating income of ¥10,500 million (up 10.6%),
ordinary income of ¥12,800 million (down 0.3%), and net income attributable to owners of the parent of ¥8,900
million (up 29.2%).

-4-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)

2.

Basic approach on selection of accounting standards
To secure comparability between companies and between fiscal years, the Group prepares its consolidated
financial statements in accordance with the Ordinance on Terminology, Forms and Preparation Methods ofConsolidated Financial Statements (Finance Ministry Ordinance No. 28 of 1976), excluding Chapter 7 andChapter 8.
The Group will appropriately consider the possibility of adoption of international accounting standards
taking into consideration of conditions in Japan and overseas.

-5-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)

3. Consolidated Financial Statements and Main Notes(1) Consolidated Balance Sheets(Millions of yen)

ASSETS
Current assets
Cash and deposits
Accounts receivable
Marketable securities
Merchandise and finished products
Raw materials and stored goods
Deferred tax assets
Other current assets
Allowance for doubtful accounts
Total current assets
Fixed assets
Tangible fixed assets
Buildings and structures
Accumulated depreciation and impairment loss
Buildings and structures (net)
Machinery, equipment and vehicles
Accumulated depreciation and impairment loss
Machinery, equipment and vehicles (net)Land
Lease assets
Accumulated depreciation and impairment loss
Lease assets (net)
Construction in progress
Other tangible fixed assets
Accumulated depreciation and impairment loss
Other tangible fixed assets (net)Total tangible fixed assets
Intangible fixed assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Net defined benefit assets
Other investments
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
TOTAL ASSETS-6-

FY2015(As of March 31, 2016)

FY2016(As of March 31, 2017)

29,667
17,151
14,002
9,445
137
1,241
2,570
(12)
74,20332,24016,991
7,000
7,687
178
1,146
2,334
(23)
67,555276,109(189,289)
86,81910,430(8,215)2,214
10,466
1,996(1,034)962
329,758(23,423)6,334
106,801
1,763

277,768(197,790)
79,978
10,878(8,384)
2,494
11,412
2,070(1,271)799
1,064
30,524(25,582)
4,941
100,690
1,812

24,678
6,665
5,384
50
2,995
39,774
148,339
222,542

27,846
6,665
4,999
538
2,933
(16)
42,967
145,471
213,026

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(Millions of yen)

LIABILITIESCurrent liabilities
Accounts payable
Short-term loans payable
Income taxes payable
Allowance for employees’ bonuses
Accrued expenses
Allowance for directors’ bonuses
Other current liabilities
Total current liabilities
Fixed liabilities
Bonds with stock acquisition rights
Long-term loans payable
Lease obligations
Net defined benefit liabilities
Asset retirement obligations
Other fixed liabilities
Total fixed liabilities
TOTAL LIABILITIESNET ASSETS
Shareholders’ equity
Common stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
TOTAL NET ASSETSTOTAL LIABILITIES AND NET ASSETS-7-

FY2015(As of March 31, 2016)

FY2016(As of March 31, 2017)

8,038
10,666
2,868
1,378
13,699247
6,457
43,357

8,695
9,712
1,913
1,477
7,625
227
5,944
35,59630,122
21,162
761
4,829
458
3,457
60,790104,148

30,096
13,450
527
4,254
464
3,198
51,99287,58817,48921,33779,929(3,244)
115,512

17,48921,33784,054(3,244)
119,637

4,906

5,444

(3,127)55(1,379)454
2,427
118,394
222,542(1,545)
52
(776)
3,174
2,626
125,438
213,026

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income(Millions of yen)

FY2015(from April 1, 2015
to March 31, 2016)
Operating revenues
Rent revenue
Facility user charges revenue
Other revenues
Sale of merchandise
Sale of food and beverage
Total operating revenues
Cost of sales
Cost of sales of merchandise
Cost of sales of food and beverage
Total cost of sales
Gross profit
Selling, general and administrative expenses
Salaries and wages
Provision for employees’ bonuses
Provision for directors’ bonuses
Expenses for retirement benefits
Rent expenses
Outsourcing and commission
Depreciation expenses
Other costs and expenses
Total selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Equity in gains of affiliates
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Loss on retirement of fixed assets
Miscellaneous expenses
Total non-operating expenses
Ordinary income-8-

FY2016(from April 1, 2016
to March 31, 2017)12,90017,851
23,907
133,647
15,827204,134

13,07818,194
26,205
130,759
16,715204,953

99,956
10,114110,070
94,06499,00010,477
109,477
95,475

9,233
1,340
245
913
12,67922,320
11,232
24,79582,761
11,302

9,838
1,376
227
1,047
12,504
24,464
11,60924,91085,978
9,497

649
237
1,529
672
3,089

627
276
2,291
676
3,871

556
107
73
737
13,654

417
58
49
525
12,843

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(Millions of yen)

FY2015(from April 1, 2015
to March 31, 2016)
Extraordinary gains
Gains on sales of investment securities
Total extraordinary gains
Extraordinary loss
Impairment loss
Loss on retirement of fixed assets
Loss on valuation of other investments
Loss on sales of other investments
Total extraordinary loss
Income before income taxes and non-controlling interests
Income taxes – current
Income taxes – deferred
Total income taxes
Net income before non-controlling interests
Net income (loss) attributable to non-controlling interests
Net income attributable to owners of the parent-9-

FY2016(from April 1, 2016
to March 31, 2017)

24
24

277
277

30
178
6
4
219
13,459
4,965
(31)
4,933
8,525
(344)
8,870

1,777
109
4
－
1,891
11,230
4,244
(9)
4,234
6,995
109
6,886

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)

Consolidated Statements of Comprehensive Income(Millions of yen)

Net income before non-controlling interests
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Share of other comprehensive income of associates
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:Comprehensive income attributable to owners of theparentComprehensive income attributable to non-controllinginterests- 10 -FY2015(from April 1, 2015
to March 31, 2016)
8,525

FY2016(from April 1, 2016
to March 31, 2017)
6,995

501
(1)
(603)

537
(3)
591

(312)

1,618

(415)
8,110

2,743
9,739

8,529

9,606

(419)

133

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(3) Consolidated Statements of Changes in Shareholders’ Equity
FY2015 (from April 1, 2015 to March 31, 2016)(Millions of yen)
Shareholders’ equity

Balance at the beginning of current period

Common stock

Capital surplus

17,48921,309Retainedearnings

Treasury stock

73,252(3,242)

Total
shareholders’equity108,808

Changes during current period
Dividend from retained earnings
Net income attributable to owners of theparentPurchase of treasury stock
Changes in shareholders’ equity due totransaction with non-controlling interests
Changes of items other than shareholders’equity during current period (net)(2,193)(2,193)

8,870

8,870
(1)

28

(1)
28

Total changes during current period

－

28

6,677

(1)

6,703

Balance at the end of current period

17,48921,33779,929(3,244)

115,512

Accumulated other comprehensive income

Balance at the beginning of current period

Foreigncurrencytranslation
adjustment

Total
Remeasurements
accumulatedof defined benefit
other
plans
comprehensive
income
56
(850)
795

Valuationdifference on
available-for-salesecurities

Deferred gains
or losses onhedges4,405(2,816)

500

(311)

(1)

Changes during current period
Dividend from retained earnings
Net income attributable to owners of theparentPurchase of treasury stock
Changes in shareholders’ equity due totransaction with non-controlling interests
Changes of items other than shareholders’equity during current period (net)

(528)

(340)

Total changes during current period

500

(311)

(1)

(528)

(340)

Balance at the end of current period

4,906(3,127)55(1,379)454

Balance at the beginning of current period

Non-controllinginterests
2,926

Total net assets
112,530

Changes during current period
Dividend from retained earnings
Net income attributable to owners of theparentPurchase of treasury stock
Changes in shareholders’ equity due totransaction with non-controlling interests
Changes of items other than shareholders’equity during current period (net)(2,193)
8,870
(1)
(48)

(20)

(450)

(791)

Total changes during current period

(498)

5,864

Balance at the end of current period

2,427

118,394- 11 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)

FY2016 (from April 1, 2016 to March 31, 2017)(Millions of yen)
Shareholders’ equity

Balance at the beginning of current period

Common stock

Capital surplus

17,48921,337Retainedearnings

Treasury stock

79,929(3,244)

Total
shareholders’equity115,512

Changes during current period
Dividend from retained earnings
Net income attributable to owners of theparentPurchase of treasury stock
Changes of items other than shareholders’equity during current period (net)(2,761)(2,761)

6,886

6,886
(0)

(0)

Total changes during current period

－

-

4,124

(0)

4,124

Balance at the end of current period

17,48921,33784,054(3,244)

119,637

Accumulated other comprehensive income
Valuationdifference on
available-for-salesecurities

Deferred gains
or losses onhedges4,906(3,127)

Total
Remeasurements
accumulatedof defined benefit
other
plans
comprehensive
income55(1,379)
454

538

1,581

(3)

603

2,719

Total changes during current period

538

1,581

(3)

603

2,719

Balance at the end of current period

5,444(1,545)

52

(776)

3,174

Balance at the beginning of current period

Foreigncurrencytranslation
adjustment

Changes during current period
Dividend from retained earnings
Net income attributable to owners of theparentPurchase of treasury stock
Changes of items other than shareholders’equity during current period (net)

Balance at the beginning of current period

Non-controllinginterests
2,427

Total net assets
118,394

Changes during current period
Dividend from retained earnings
Net income attributable to owners of theparentPurchase of treasury stock
Changes of items other than shareholders’equity during current period (net)(2,761)
6,886
(0)
199

2,919

Total changes during current period

199

7,043

Balance at the end of current period

2,626

125,438- 12 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(4) Consolidated Statements of Cash Flows(Millions of yen)

FY2015(from April 1, 2015
to March 31, 2016)
Cash flows from operating activities
Income before income taxes and minority interests
Depreciation and amortization
Impairment loss
Increase (decrease) in allowance for employees’ bonuses
Increase (decrease) in allowance for directors’ bonuses
Increase (decrease) in net defined benefit liabilities
Decrease (increase) in net defined benefit assets
Interest and dividends income
Interest expenses
Equity in losses (earnings) of affiliates
Loss (gain) on sales of investment securities
Loss on retirement of tangible fixed assets
Loss (gain) on sales of tangible fixed assets
Decrease (increase) in accounts receivable – trade
Decrease (increase) in inventories
Decrease (increase) in other current assets
Increase (decrease) in accounts payable - trade
Increase (decrease) in other current liabilities
Increase (decrease) in other fixed liabilities
OthersSubtotalInterest and dividends received
Interest paid
Income and other taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Purchase of investment securities
Proceeds from sales of investment securities
Purchase of tangible fixed assets
Proceeds from sales of tangible fixed assets
Purchase of intangible fixed assets
Purchase of long-term prepaid expenses
Payments of long-term loans receivable
Other payments
Other proceeds
OthersNet cash provided by (used in) investing activities- 13 -FY2016(from April 1, 2016
to March 31, 2017)13,45911,311
30
212
51
(88)
(190)
(887)
556
(1,529)
(24)
286
(2)
(2,767)(3,975)
(896)
801
4,383
(149)
(148)
20,432876(568)(5,505)
15,235

11,23011,693
1,777
98
(19)
80
(295)
(904)
417
(2,291)
(277)
165
(5)
160
1,716
300
658
(3,774)(249)
77
20,558893(434)(5,398)15,620(27)(1)
25(6,734)
30
(649)
(39)
(3)
(468)
55
2
(7,810)

(27)
(1)
1,770
(9,008)9(1,052)
(86)
(1)
(108)
131
1
(8,373)

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(Millions of yen)

FY2015(from April 1, 2015
to March 31, 2016)
Cash flows from financing activities
Proceeds from short-term loans payable
Proceeds from long-term loans payable
Repayment of long-term loans payable
Repayments of lease obligations
Payments to non-controlling shareholders
Proceeds from stock issuance to non-controllingshareholders
Dividends paid by parent company
Dividends paid to non-controlling shareholders
OthersNet cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of period
Cash and cash equivalents at the end of period- 14 -FY2016(from April 1, 2016
to March 31, 2017)－
3,500(11,402)
(611)
(20)

2,000
－
(10,666)
(340)
－

－

98

(2,193)(31)(1)(10,759)(2,761)(31)(0)(11,702)2(1)(3,332)
46,89743,565(4,456)
43,565
39,108

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(5) Notes on the Consolidated Financial Statements(Notes on the Premise of a Going Concern)
There is nothing to report.
(Basic Important Conditions to Prepare Consolidated Financial Statements)
1. Scope of consolidation
1) Number of consolidated subsidiaries: 17 companies
Tokyo Airport Restaurant Co., Ltd.
Japan Duty Free Fa-So-La Isetan Mitsukoshi Co., Ltd
Cosmo Enterprise Co., Ltd.
International Trade Inc.
Japan Airport Logitem Co., Ltd.
BIG WING Co., Ltd.
Japan Airport Techno Co., Ltd.
Air BIC Inc.
Haneda Airport Enterprise Co., Ltd.
Haneda Airport Security Co., Ltd.
Haneda Passenger Service Co., Ltd.
Japan Airport Ground Handling Co., Ltd.
Japan Airport Terminal Trading (Chengdu) Co., Ltd.
Sakura Co., Ltd.
Hamashin Co., Ltd.
CTT Co., Ltd.
Kaikan Development Co., Ltd.
Air BIC Inc. was newly established during the current fiscal year and included in the scope of consolidation.
2) Non-consolidated subsidiary
Tsukizi Hamashin Co., Ltd.
The non-consolidated subsidiary is small in size, and its total assets, operating revenues, net income/loss, andretained earnings do not have a significant impact on the consolidated financial statements.
2. Application of equity method
1) Number of affiliated company that is accounted for using the equity method: 3 companies
Tokyo International Air Terminal Corporation
Airport Transport Service Co., Ltd.
Japan Airport Delica Inc.
Narita Airport Techno Corporation was excluded from affiliated company under equity method because all theshares in the company have been sold.
2) A non-consolidated subsidiary and Seikousha Inc. and five other affiliated companies are not included in thescope of the application of equity method, since the aggregate amounts corresponding to the shares held by theCompany of those companies’ net income/loss and retained earnings do not have a significant impact on thoseof consolidated financial statements.
3. Fiscal year of consolidated subsidiaries
Of consolidated subsidiaries, Japan Airport Terminal Trading (Chengdu) Co., Ltd. ends its fiscal year on
December 31. Necessary adjustments arising from important transactions during the period between its closing
date and the consolidated closing date are made.
4. Summary of significant accounting policies
1) Valuation standards and methods for important assets(A) Securities(i) Held-to-maturity securities are carried at cost.
(ii) Other securities
Other securities with fair values are stated at fair value based on the market value at the closing date, withvaluation differences included in net assets. Cost of securities sold is determined by the moving averagemethod.
Other securities without fair values are stated at cost based on moving average method.
- 15 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(B) Derivatives
Derivative financial instruments are stated at fair value.
(C) Inventories
Inventories are principally stated at cost determined by the retail method (book value of inventories in thebalance sheet is written-down when their profitability declines). Some consolidated subsidiaries use lastpurchase-price method (book value of inventories in the balance sheet is written-down when their profitability
declines).
2) Depreciation method of important depreciable assets(A) Tangible fixed assets (excluding lease assets)
Depreciation of tangible fixed assets is calculated by the declining balance method. Some consolidated
subsidiaries use the straight-line method for some assets.
(B) Intangible fixed assets (excluding lease assets)
Amortization of intangible fixed assets is calculated by the straight-line method. Software intended for internal
use is amortized by the straight-line method over its estimated useful life of 5 years.
(C) Lease assets
The straight-line method is adopted in which the lease term is treated as useful life and the asset is depreciatedto zero or residual value.
3) Accounting policies for important allowances(A) Allowance for doubtful accounts
To prepare for losses from doubtful accounts, estimated uncollectible amounts are recorded, which arecomputed either by using historical default rate for normal receivables or by considering individualcollectibility for particular receivables such as highly doubtful accounts.
(B) Allowance for employees’ bonuses
To prepare for the payment of bonuses to employees, the estimated amount is recorded as allowance.
(C) Allowance for directors’ bonuses
To prepare for the payment of bonuses to directors, the estimated amount is recorded as allowance.
4) Accounting method for employees' retirement benefits(A) Allocation method of projected retirement benefits to each period
The benefit formula method is used to allocate the projected retirement benefits to each period up to the end of
the fiscal year under review.
(B) Amortization of actuarial gains and losses and prior service costs
Prior service costs are amortized under the straight-line method over a certain number of years within the
average remaining service years (5-10 years). Actuarial gains and losses are amortized, beginning in the year
following their occurrence, under the straight-line method over a certain number of years within the averageremaining service years (5-10 years).
5) Recognition of significant revenues and costs
Standards for recognition of revenues and costs of construction contracts(i) Construction of which the percentage of completion by the end of the fiscal year can be reliably estimated
The percentage-of-completion method is used to recognize revenues and costs. Percentage of completion is
calculated based on cost proportion method.
(ii) Other constructions
The completed-contract method is used to recognize revenues and costs.
6) Accounting method for important deferred assets
Bond issuance cost is recognized as an expense when expended.
7) Accounting standards for important hedging transactions(A) Hedge accounting method
Hedging transactions are accounted for under deferred hedge accounting method. Interest rate swaps that meetcertain conditions are accounted for using special treatment.
- 16 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(B) Hedging instrument and hedged item
Hedging instrument ----------- Interest rate swap
Hedged item -------------------- Floating rate borrowings(C) Hedging policy
Hedging transactions are executed to avoid the risk of interest rate fluctuation, and our basic policy is that they
are not used for speculation purposes.
(D) Evaluation of hedging effectivenessThe effectiveness of hedging is evaluated by comparing the cumulative changes of hedging instruments andcorresponding changes in underlying hedged items. The evaluation is omitted regarding interest rate swaps
that meet the requirements for special treatment.
8) Scope of “Cash and cash equivalents” in consolidated statements of cash flows“Cash and cash equivalents” in the consolidated statements of cash flows consist of cash on hand, deposits
with banks that are withdrawable on demand, and short-term investments which are easily convertible to cashwith insignificant risk of values whose maturity will come within three months.
9) Other important matters regarding preparing consolidated financial statements
Consumption Taxes
Consumption taxes are excluded from transaction amounts.

(Notes on Changes in Presentation)
Consolidated Statements of Income“Contributions in aid of construction”, which was recorded as separate item in the previous fiscal year, is now
included in “Miscellaneous income” under “Non-operating income” in the current fiscal year because “Contributions
in aid of construction” now accounts for less than 10% of total of non-operating income. To reflect this change inpresentation, the consolidated financial statements of the previous fiscal year have been reclassified.
As a result, ¥82 million recorded as “Contributions in aid of construction” under “Non-operating income” in the
consolidated statements of income of the previous fiscal year has been reclassified as “Miscellaneous income”.

- 17 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(Notes on Consolidated Balance Sheets)
1. Assets pledged as collateral and corresponding liabilities with collateral
The following are assets pledged as collateral.
(Millions of yen)

FY2015(As of March 31, 2016)
70,40753
70,461

Buildings and structures
Land
Total

FY2016(As of March 31, 2017)
66,166
53
66,220The followings are liabilities for which assets are pledged as collateral.
(Millions of yen)

FY2015(As of March 31, 2016)
6,244
11,522
17,766

Short-term loans payable
Long-term loans payable
Total

FY2016(As of March 31, 2017)
5,722
5,800
11,522

2. The following items are related to non-consolidated subsidiaries and affiliated companies.
(Millions of yen)

FY2015(As of March 31, 2016)
4,975
6,660

Investment securities (shares)
Investment securities (corporate bonds)

FY2016(As of March 31, 2017)
7,385
6,660

3. Liabilities guaranteed
The Company provides a guarantee to the following group company for its borrowing from financial institutions.
(Millions of yen)

FY2015(As of March 31, 2016)
Japan Airport Delica Inc.
335
(borrowing)
548 million yen

FY2016(As of March 31, 2017)
Japan Airport Delica Inc.
225
(borrowing)
548 million yen

4. Amount of reduction entry
Due to receipt of government subsidy, etc. for the acquisition of assets, reduction entry of the following amount isdeducted from the acquisition costs of tangible fixed assets.
(Millions of yen)

Buildings and structures

FY2015(As of March 31, 2016)88- 18 -FY2016(As of March 31, 2017)88

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(Notes on Consolidated Statements of Income)
1. Impairment loss
The JAT Group recognized impairment loss on the assets as follows:
FY2015 (from April 1, 2015 to March 31, 2016)
Location
Use
Type
Impairment loss
Ota-ku, TokyoStore (Food andBuildings and structures, machinery,
30 million yen
beverage)equipment and vehicles, and others
The JAT Group classifies assets into groups primarily according to business locations.
By examining impairment for fixed assets based on the groupings, the business assets owned by a consolidated
subsidiary whose profitability declined were identified. The carrying amount of those assets was reduced to therecoverable value and the reduced amount was recognized as impairment loss. The loss consists of ¥7 million forbuildings and structures, ¥11 million for machinery, equipment and vehicles, and ¥11 million for others.

FY2016 (from April 1, 2016 to March 31, 2017)
Location
Use
Chuo-ku, TokyoStore (Merchandise sales)Type
Impairment loss
Buildings and structures, others,
1,777 million yen
intangible fixed assets
The JAT Group classifies assets into groups primarily according to business locations.
By examining impairment for fixed assets based on the groupings, the business assets owned by a consolidated
subsidiary whose profitability declined were identified. The carrying amount of those assets was reduced to therecoverable value and the reduced amount was recognized as impairment loss. The loss consists of ¥1,161 million
for buildings and structures, ¥611 million for others, and ¥4 million for intangible fixed assets.

2. Loss on retirement of fixed assets(Millions of yen)

FY2015(from April 1, 2015
to March 31, 2016)
176
1
178

Buildings and structures
OthersTotal

FY2016(from April 1, 2016
to March 31, 2017)
109
－
109

(Notes on Consolidated Statements of Cash Flows)
Relationship between the closing balance of cash and cash equivalents and the value of items listed on the consolidatedbalance sheets(Millions of yen)

FY2015(from April 1, 2015
to March 31, 2016)
29,667
14,002(104)
43,565

Cash and deposits
Marketable securities
Time deposits with a maturity greater than 3 months
Cash and cash equivalents- 19 -FY2016(from April 1, 2016
to March 31, 2017)32,2407,000(131)39,108

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(Segment Information)
1. Overview of reportable segments
The reportable segments of the Group are units for which separate financial information is available and whose
operating results are regularly reviewed by the Board of Directors in order to decide how to allocate management
resources and evaluate their performances.
The Company is primarily engaged in the management of passenger terminal buildings and the provision ofservices to users at Haneda Airport. Business divisions at the Company’s headquarters develop comprehensive
business strategies and pursue business activities.
The Company is, therefore, composed of business segments with different services based on the businessdivisions. Its three reportable segments are the facilities management operations, merchandise sales operations, andfood and beverage operations.
The segment of facilities management operations leases, maintains and repairs, and operates passenger terminal
facilities at Haneda Airport. It also provides services for passengers. The segment of merchandise sales operations is
engaged in retail sales of products to passengers and others, wholesales of products to companies operating airport
terminals and others, and other activities incidental to these two sales operations. The segment of food and beverage
operations provides food and beverage services to parties including users of Haneda Airport and Narita International
Airport. It is also engaged in the production and sales of in-flight meals and other incidental activities.
2. Method of calculations of sales, income (loss), assets, liabilities, and other items by reportable segments
Accounting methods for reportable business segments are, in general, the same as those described in “Basic
Important Conditions to Prepare the Consolidated Financial Statements.”
Segment income (loss) is based on operating income (loss).
Intersegment sales and transfers are based on prevailing market price.
3. Sales, income (loss), assets, liabilities, and other items by reportable segments
FY2015 (from April 1, 2015 to March 31, 2016)(Millions of yen)

Reportable segments

Consolidated
financialstatements

Facilities
Management

Merchandise
Sales

52,880133,718

17,535204,134-

204,134

2,006

753

2,528

5,288

(5,288)-54,887
6,135
107,179

134,471
9,476
38,39020,063564
14,551

209,422
16,176160,121(5,288)(4,873)62,421

204,134
11,302
222,542

Depreciation andamortization

9,277

1,231

430

10,939372

11,311

Increase in tangible fixed
assets and intangible fixed
assets

5,393

3,110

574

9,079

274

9,354

Operating revenues
Sales to externalcustomers
Intersegment sales
and transfers
Total
Segment income
Segment assets
Other items

Food andBeverage

Adjustments
Total(Notes) 1. Details of adjustments are as follows:(1) Adjustments to the segment income include ¥4,878 million of administration expenses for the parent company’s
administration and other divisions at head office which are not allocated to each of the reportable segments.
(2) Adjustments to the segment assets include ¥78,614 million of corporate assets which are not allocated to each of thereportable segments, which includes excess funds managed by parent company, long-term investment (investment
securities), assets related to administration divisions and other assets.
(3) Adjustments to depreciation and amortization include ¥382 million of depreciation with regard to administration
divisions at head office of parent company which are not allocated to each of the reportable segments.
(4) Adjustments to increase in tangible fixed assets and intangible fixed assets (¥274 million) are primarily due to equipment
and fixtures purchased by parent company’s head office.
2. Segment income is adjusted with operating income recorded in the Consolidated Statements of Income.

- 20 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)

FY2016 (from April 1, 2016 to March 31, 2017)(Millions of yen)

Reportable segments

Consolidated
financialstatements

Facilities
Management

Merchandise
Sales

54,975131,098

18,879204,953-

204,953

1,825

813

2,516

5,155

(5,155)-56,801
6,470
104,111

131,911
7,254
34,981

21,395757
14,982

210,108
14,482
154,076(5,155)(4,985)58,950204,953
9,497
213,026

Depreciation andamortization

9,518

1,283

444

11,246446

11,693

Increase in tangible fixed
assets and intangible fixed
assets

5,536

410

275

6,222

1,390

7,613

Operating revenues
Sales to externalcustomers
Intersegment sales
and transfers
Total
Segment income
Segment assets
Other items

Food andBeverage

Adjustments
Total(Notes) 1. Details of adjustments are as follows:(1) Adjustments to the segment income include ¥5,000 million of administration expenses for the parent company’s
administration and other divisions at head office which are not allocated to each of the reportable segments.
(2) Adjustments to the segment assets include ¥73,400 million of corporate assets which are not allocated to each of thereportable segments, which includes excess funds managed by parent company, long-term investment (investment
securities), assets related to administration divisions and other assets.
(3) Adjustments to depreciation and amortization include ¥456 million of depreciation with regard to administration
divisions at head office of parent company which are not allocated to each of the reportable segments.
(4) Adjustments to increase in tangible fixed assets and intangible fixed assets (¥1,390 million) are primarily due to landacquisition intended for use as company dormitory for employees of parent company’s head office.
2. Segment income is adjusted with operating income recorded in the Consolidated Statements of Income.

- 21 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2017 (FY2016)(Per Share Information)(Yen)

FY2015(from April 1, 2015
to March 31, 2016)
1,427.66
109.20104.21

Net assets per share
Net income per share
Diluted net income per share

FY2016(from April 1, 2016
to March 31, 2017)
1,511.92
84.78
80.84

Notes: Net income per share and diluted net income per share are calculated based on the following:(Millions of yen, except for number of shares)

FY2015(from April 1, 2015
to March 31, 2016)
Net income per share
Net income attributable to owners of the parent
Amount not attributable to common shareholders
Net income attributable to owners of the parent
available for distribution to common shareholders
Average number of shares outstanding during theperiod (thousand shares)
Diluted net income per share
Adjustments to net income attributable to owners of
the parent[Interest income]
Increase in common shares (thousand shares)[Bonds with stock acquisition rights (thousand
shares)]Description of potential shares which were notincluded in computing diluted net income per shareas they have no dilutive effect.

(Significant Subsequent Events)
Not applicable- 22 -FY2016(from April 1, 2016
to March 31, 2017)

8,870
－

6,886
－

8,870

6,886

81,22981,229

-17

-17

[-17]
3,724

[-17]
3,737

[3,724][3,737]－－