April 1, 2021 to March 31, 2022 (FY21)

Earnings Presentation Material(May 18, 2022)* This document has been translated from the Japanese original, for reference purposes only.
If there is any discrepancy between this translated document and the Japanese original,
the original shall prevail.

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

Contents
April 1, 2021 to March 31, 2022 (FY21)
Earnings Presentation Material

1. Review of Consolidated Financial Results for FY21
(1) Business EnvironmentP２(2) Consolidated Financial ResultsP３

3. Medium-Term Business Plan (FY22-FY25)“To Be a World Best Airport 2025
－towards becoming one of the most advanced,
human-and-eco-friendly airports by 2030－”
3-1

Review of the Previous Medium-Term Business Plan

P

3-2

Changes in the Environment Surrounding
Haneda Airport

P １０

3-3

The Goal of Our GroupP １１

2. Consolidated Financial Forecast for FY22８(1) Business Environment

P

４

3-4

Our Goals for 2030

P １２(2) Consolidated Financial Forecast for FY22

P

５

3-5

P １３

(3) Quarterly Changes in Operating Income and EBITDA

P

６

Positioning of the Medium-Term Business Plan
(FY22–FY25)(4) Selling, General and Administrative Expenses

P

６

3-6

Direction of Strategy

P １４(5) Cash flow estimate

P

６

3-7

Sustainability

P １９

3-8

Strategy Road Map

P ２２

3-9

Numerical Goals

P ２３

3-10 Investment Plan

P ２４

3-11 Estimated Number of Travelers

P ２５

Contents
Supplementary Material

Reference Material

1. Details of Consolidated Financial Results for FY21

1. Outline of Japan Airport Terminal Group(1) Changes in Passenger Volume(Haneda, Narita, Kansai and Chubu Centrair)

P ２８(1) The company’s position at Haneda Airport(comparison with other major airports in Japan)

P ４６(2) Consolidated Financial Results for FY21P ２９(2) Business Details

P ４７(3) Financial Results by Segment(i) Facilities management(ii) Merchandise sales(iii) Food and beverage(3) Basic Philosophy and Management Policy

P ４８

P ３１
P ３２
P ３３

(4) Company History

P ４９(5) Group Companies

P ５０(6) Revenue Composition/Details by Segment

P ５１(7) Changes in Capital Investment

P ５２(8) Summary of Tokyo International Air
Terminal Corporation

P ５３(4) Breakdown of Selling, General and
Administrative Expenses

P ３４(5) Changes in Non-Operating Income/Expenses
and Extraordinary Income/Loss

P ３５(6) Consolidated Balance Sheets

P ３６(7) Consolidated Statements of Cash FlowsP ３７

2. Details of Consolidated Financial Forecast for FY22

2. Summary of Tokyo International Airport (Haneda)(1) Consolidated Financial Forecast for FY22P ３８(1) Location Map

P ５４(2) Forecast of Operating Revenues by Segment

P ３９(2) Comparison of Passenger Volume

P ５５(3) Financial Forecast by Segment(i) Facilities management(ii) Merchandise sales(iii) Food and beverage

P ４０
P ４１
P ４２

(3) International Rating of the Haneda Airport
Passenger Terminal

P ５６

3. Other Information(1) Capital Expenditure and Depreciation Expenses

P ４３(2) Changes in Operating Revenues/Ordinary
Income/Cash FlowsP ４４

Earnings Presentation Material

April 1, 2021 to March 31, 2022 (FY21)

1. Review of Consolidated Financial Results for FY21

2. Consolidated Financial Forecast for FY22
3. Medium-Term Business Plan (FY22–FY25)

1. Review of Consolidated Financial Results for FY21

(1) Business Environment
⁻ The impact of the COVID-19 pandemic continued to be significant and, due to the spread of
COVID-19 on several occasions, the recovery of economic and social activities has been slow
and on a sluggish trend as a whole.

Business
Environment

⁻ Although immigration restrictions due to the COVID-19 pandemic continue globally, they arebeing eased in stages.
⁻ The recovery of domestic flights has been delayed in the first half of FY21 due to thedeclaration of state of emergency, etc. Although domestic flights rose from autumn into winter,they slowed again earlier this year due to the spread of COVID-19. Since the latter part ofMarch, the trend seems to be one of recovery again.

Number of
Passengers(HanedaAirport)⁻ Regarding international flights, although immigration restrictions have been eased in stages
depending on the infection situation, demand remained sluggish.

The number of passengers
Revised

Revised forecast

forecasts

for comparison(10 thousands)

(％)

FY21

FY20

Rate of change(10 thousands)(10 thousands)

(％)

2,838

2,060

37.7

3,662

-22.5

6,539

-56.6

83

41

100.2

214

-61.4

1,682

-95.1

Total Haneda

2,921

2,102

39.0

3,876

-24.7

8,222

-64.5

Narita

234

126

85.3

342

-31.5

3,401

-93.1

Kansai

26

20

29.9

143

-81.3

2,206

-98.8

Chubu Centrair

5

1

183.1

36

-84.8

619

-99.1

AirportHaneda – Domestic
Haneda – International

FY19

Rate of change(10 thousands)(％)

Note: Haneda Airport passenger volume is based on aggregate statistics of airport usage within the jurisdiction of East Japan Civil Aviation
Bureau, available on the website of the East Japan Civil Aviation Bureau of the Ministry of Land, Infrastructure, Transport and Tourism.

Japan Airport Terminal Co., Ltd.

02

1. Review of Consolidated Financial Results for FY21
(2) Consolidated Financial Results⁻ Facility user charge revenues, operating revenues from merchandise sales, etc. increased, and operating
revenues in all segments exceeded those of the previous fiscal year.

⁻ Owing to increased operating revenues and continuous cost reductions, operating profit/loss improved
significantly compared to the previous fiscal year, but the operating loss continued for two consecutive
fiscal years.

Overview

⁻ From earlier this year, the recovery of passenger numbers slowed down. As such, both operating
revenues and operating profit/loss fell below the revised forecast.

Consolidated financial results for FY21

Note: Figures shown are rounded down to the nearest 100 million yen. (Billions of yen)

1H

Items

2H

FY21

FY20

25.8

20.0

(Facilities management) (18.8) (

16.5)

(Merchandise sales)(5.5) ((Food and beverage)(

1.5) (

Operating revenues

ChangeFull year
ChangeFY21

FY20

RevisedChangeforecasts

10.5

69.5

Difference

FY21

FY20

5.8

31.1

26.4

4.6

(

2.3) (

21.2) (

19.5) (

1.6)

(

40.0)

(

36.0)

(

3.9)

(

44.2)

(

-4.1)

2.5)

(

3.0) (

7.6) (

5.2) (

2.3)

(

13.1)

(

7.7)

(

5.3)

(

20.4)

(

-7.2)

1.0)

(

0.5) (

2.3) (

1.6) (

0.6)

(

3.8)

(

2.7)

(

1.1)

(

4.9)

(

-1.0)

57.0

46.5

-12.4

Operating income

-21.8

-32.2

10.4

-19.4

-26.7

7.3

-41.2

-59.0

17.7

-35.1

-6.1

Ordinary income

-24.3

-30.5

6.2

-19.5

-26.8

7.2

-43.8

-57.3

13.4

-37.7

-6.1

-14.4

-22.8

8.4

-10.7

-13.6

2.9

-25.2

-36.5

11.3

-21.3

-3.9

Capital expenditures

3.4

5.1

-1.6

1.2

3.3

-2.1

4.7

8.4

-3.7

7.0

-2.2

Depreciation expenses

15.8

17.1

-1.3

15.8

17.1

-1.2

31.7

34.3

-2.5

31.7

0.0

EBITDA

-5.9

-15.0

9.1

-3.5

-9.6

6.0

-9.5

-24.7

15.1

-3.4

-6.1

Annual dividend

¥0.0

¥0.0

¥0.0

¥0.0

¥0.0

¥0.0

-

-

-

-

-

-

-

-

Net income attributableto owners of parent

Payout ratio* For FY20 results, figures reclassified in accordance with the revenue recognition accounting standard are used.
Japan Airport Terminal Co., Ltd.

03

2. Consolidated Financial Forecast for FY22(1) Business Environment
Business
Environment

⁻ Although the severe situation will continue due to the COVID-19 pandemic, economic andsocial activities will normalize.
⁻ Immigration restrictions will be gradually eased and international passenger traffic will
recover in stages.
⁻ Attention is required regarding rising commodity prices due to the further spread of
infections, the Ukraine situation, sharp rises in resource prices, etc.

Number of
Passengers(Haneda Airport)

⁻ Domestic flights are expected to recover to 85% of the pre-COVID-19 level for the full
fiscal year, owing to tourism demand.

⁻ International flights are expected to recover starting from business demand, but it willtake time for tourism demand to return, so they are expected to recover to 18% of theplan before COVID-19 for the full fiscal year.

The number of passengers forecast for FY22
FY22
Airport

Forecasts(10 thousands)

FY21 Results Rate of change(10 thousands)(%)

Reference
number*(10 thousands)

Rate of change(%)

Haneda – Domestic

5,852

2,838

106.2

6,900

-15.2

Haneda – International

466

83

461.2

2,560

-81.8

Total Haneda

6,318

2,921

116.3

9,460

-33.2

Narita

889

234

279.2

Kansai

281

26

950.2

Chubu Centrair

70

5

1,178.3

Japan Airport Terminal Co., Ltd.

04

* Reference numbers are those before
the impact of COVID-19 for domestic
flights, and estimated passenger
volume after the expansion of flightslots for international flights

2. Consolidated Financial Forecast for FY22(2) Consolidated Financial Forecast for FY22
⁻ Recovery will continue, centering on domestic flights, and operating revenues will significantly
increase in all segments.

Overview

⁻ Significant recovery of international flights is not expected and, despite continuing cost-reduction
efforts, an operating loss will continue for three consecutive years on a consolidated basis.
⁻ With regard to capital spending, although construction for a domestic-flight satellite will start, othercapital spending will be cut.

Consolidated financial forecast for FY22
FY22

Items

FY22
(Forecasts)

Note: Figures shown are rounded down to the nearest 100 million yen.
(Billions of yen)
Rate ofAmount affected

FY21

due to TIAT

(Results)

Amount affected
due to TIAT

consolidation

105.6

Operating revenues

Changechange(%)

consolidation

-2.0

57.0

-6.8

48.5

85.1

(Facilities management)

(

60.6)

(

-3.3)

(

40.0)

(

-8.9)

(

20.5)

(

51.4)

(Merchandise sales)

(

37.0)

(

1.3)

(

13.1)

(

2.0)

(

23.8)

( 180.8)(Food and beverage)

(

8.0)

(

-)

(

3.8)

(

0)

(

4.1)

( 107.6)

Operating income

-16.6

-21.4

-41.2

-29.1

24.6

-59.8

Ordinary income

-18.1

-24.9

-43.8

-33.7

25.7

-58.7

-5.7

-9.8

-25.2

-16.8

19.5

-77.4

Capital expenditures

15.0

0.8

4.7

2.8

Depreciation expenses

29.0

13.9

31.7

14.7

EBITDA

12.4

-7.4

-9.5

-14.4

Net income attributableto owners of parent

Dividend
Payout ratio
Japan Airport Terminal Co., Ltd.

To be
determined
To bedetermined

¥0.0
-

05

2. Consolidated Financial Forecast for FY22(3) Quarterly Changes in Operating Income and EBITDA
Operating income

EBITDA

Haneda domestic flight passengers

96%

Haneda international flight passengers

96%

100%

87%
10
100
80%

59%
60%

00

45%

40%

-100
-10

4%

6%

19%

1Q

2Q

23%

24%

3Q

4Q

-200
-20

20%

0%
3Q

4Q

1Q

(FY19)

2Q

3Q

4Q

1Q

2Q

(FY20)

3Q

4Q(FY21)(4) Selling, General and Administrative Expenses(FY22)(5) Cash flow estimate(Billions of yen)

140.0 billion yen

Operating revenues
95.6 billion yen

96.5 billion yen
Non-personnel
expenses
77.7

Personnel
expenses
27.0

Cash

87.7 billion yen
Non-personnel
expenses
41.8
Personnel
expenses
20.4

Cash flow fromfinancing activities

Cash flow fromoperating activities
Cash flow frominvesting activities

equivalents(at beginningNon-personnel
expenses38.1

Non-personnel
expenses48.2

Personnel
expenses
17.9

Personnel
expenses
18.4

Depreciation
expenses
31.7

Depreciation
expenses
29.0

of year)

97.1

Cash
equivalents(at end of

year)

72.9

Depreciation
expenses
35.3

Depreciation
expenses
34.3

FY20

FY20

FY21

FY22

End of March

End of March(Pre-Coronavirus plan)(Results)(Results)(Forecasts)

2022

2023

Japan Airport Terminal Co., Ltd.

06

Medium-Term Business Plan (FY22–FY25)“To Be a World Best Airport 2025
- towards becoming one of the most advanced,
human-and-eco-friendly airports by 2030 -”3-1. Review of the Previous Medium-Term Business Plan
(1) Review of important measures“Create business and earnings opportunities in pursuit“To Be a World-Best Airport 2020”of our ‘Vision’ for Haneda Airport, and redevelop
earnings base by staking out a competitive position”

Three Strategic Pillars
Expanding business domainsthat leverage strengths anddiversifying earnings• Opening urban duty-freestores• Developing multiple Air BIC
business stores• Participating in otherairports’ businesses• Opening HI City• Developing a regional
revitalization business

Pursuing our ‘Vision’ for Haneda Airport• Expanding and developing the international terminal(T2, T3)• Making TIAT a consolidated subsidiary• Renovating the domestic terminal (T1)
• Developing facilities exclusively for business jets
• Earning SKYTRAX’s 5-Star Airports rating for a sixth
consecutive year
• Introducing advanced technologies, including Fast Travel
and robots• Responding to universal design and barrier-freeenvironment• Supporting the operation of Tokyo Olympics/Paralympics

Redeveloping the earnings
base and staking out acompetitive position• Opening THE HANEDA
HOUSE• Renovating stores• Renovating airport lounges• Constructing a new recyclingbuilding• Implementing the
procurement cost reduction
project

2021 (COVID-19 Pandemic)
Implement a capital increase

Lessons learned from the COVID-19 pandemic• Securing funds for the development of the terminals in
the future• Strengthening the financial foundation to prepare for a
prolonged COVID-19• Terminal management pursuing flexibility and efficiency• Strengthening and ensuring cost management• Promoting the diversification of earnings●Following the restart of the functional strengthening of Haneda Airport initiated in March 2020, the quality and efficiency of bothContinuing
issues for
FY22

hardware and software will be improved.
●Aim to shift away from an earnings structure that depends on airline demand to one that includes newly developed businesses
and strengthening “earning power.”●Secure personnel who can come up with new ideas and have ability to get things done in a changing business environment, as
well as the financial foundations that enable stable business continuity.

Japan Airport Terminal Co., Ltd.

08

3-1. Review of the Previous Medium-Term Business Plan
(2) Status of achievement of the target indicators← TIAT: Equity-method
affiliate
→

←

2016
(Results)

2017(Results)

2018
2019
(Results) (Results)

Operating revenues

204.9

225.9

273.6

Operating income

9.4

13.4

Net income
attributable toowners of parent

6.8

11.7

Indicator type2016
(Results)

2017(Results)

Comprehensive

9.7%

Profitability

4.6%

Stability

57.7%

PL (Billions ofyen)

Growth potential
Shareholder return

TOP 4
38.9%

10.7%

TIAT: Consolidated subsidiary→2020(Results)

2021(Results)

2020(Targets)

249.7

52.5

57.0

300.0

22.4

9.8

-59.0

-41.2

25.0

33.0

5.0

-36.5

-25.2

13.0

2018
2019
(Results) (Results)

2020(Results)

Target level

13.0%

7.5%

n/a

ROA (EBITDA): 12%

5.9%

8.2%

4.0%

n/a

Operating margin: 8%

55.7%

33.7%

31.2%

34.3%

TOP 2

TOP 3

TOP 2

TOP 2

30.4%

31.2%

51.9%

n/a

Equity ratio: Aim for stability as earlyas possible
SKYTRAX evaluation ranking: Top 3
Payout ratio: 30% or more
* The effect of extraordinary income and losses was taken into
account for FY18.

・Made TIAT a consolidated subsidiary in 2018 and reviewed the target indicators.
・The business environment changed drastically in 2020 due to the COVID-19
pandemic, and adaptation to the new normal became an issue.
Japan Airport Terminal Co., Ltd.

09

3-2. Changes in the Environment Surrounding Haneda Airport
Government (Ministry of Land, Infrastructure, Transport and Tourism)
MLIT ”Circumstances Surrounding Aviation and Future Issues andInitiatives” (March 2022) [Excerpt](1) Appropriate responses to the COVID-19 pandemic (border control measuresthat reflect the infection situation)(2) Responses with a view to the recovery and expansion of demand after COVID19 (functional strengthening of each airport, including airports in the Tokyo
metropolitan area, and disaster prevention and reduction measures at the
airport)(3) Response to decarbonization in the aviation industry (promotion of
decarbonization at the airport)(4) Ensuring the safety and security of new aviation mobility (introduction of flying
cars, and safe and smooth flights of drones, flying cars and piloted aircraft)(5) Providing safe and secure aviation services (promotion of aviation innovations)

Functional strengthening of airports in the Tokyo metropolitan area (asper MLIT’s website, and edited by Japan Airport Terminal)(1) Strengthening the international competitiveness of the Tokyo
metropolitan area ⇒ Revitalizing the Japanese economy(2) Acceptance of non-Japanese visitors to Japan ⇒ Increase in the numberof foreign travelers and expansion of travel consumption(3) Regional vitalization throughout Japan ⇒ Growth potential of foreigncountries affecting regions throughout Japan(4) Strengthening airport functions (development of artificial land, railroads
connecting to the airport, and aircraft parking apron)(5) Disaster prevention and reduction measures, etc. (strengthening theseismic capacity of runways, etc., development of bank protection, etc.,
and renovation of basic facilities, etc.)

Business Environment

Airline Industry• Decrease in the number ofpassengers due to the COVID-19
pandemic• Promotion of structural reforms
at airlines

New values and lifestyles
resulting from the COVID-19
pandemic

Excess of supply in the officemarket• The government’s target of 60
million non-Japanese visitors to
Japan
World population
growth/Emerging countries(decline in demand for offices due toteleworking, etc.)

Social Environment
・Changes in theworld situation

Japan Airport Terminal Co., Ltd.

• Return of thepandemic• Risks of disasters
and earthquakes• Decarbonized society• Measures to prevent
global warming

10• Heightened awareness ofsustainability, andrequirements from themarket• Fall in the domestic
population (declining
birth rate and aging
population)

3-3. The Goal of Our GroupTo realize the long-term vision “To Be a World-Best Airport,” our Group has established a goal
we are striving to achieve for 2030: become a “leading airport company.”

Long-term
visionOur goals for2030“To Be a World-Best Airport”

Capital spending- To be the world’s most respected airport, pursuing the satisfaction of all stakeholders -(Furtherinternationalization)

Leading airport company

Environmental
investment

As the airport representing Japan and the premier gateway to the country, we are creating
a model recognized as the best in the world.

Personnel
investment- human-and-eco-friendly advanced airport 2030 -World-leading
hospitality

A safe and secure
airportPleasant journeys:stress-free

Eco-airport(Response toinclusiveness anddiversity)

An airport terminal operator trusted by all stakeholders
Response tochanges[Basic philosophy] To foster harmony between the public and theGroupManagement
strategy

Achieve outcomesthrough fundamental
review during the COVID19 pandemic

Capture future airline
demandExpand the earnings baseby developing businesses
in new fields

Flexibility

Earningpower

Sustainability management

Objectivization

Put strategies firmly into action and achieve outcomes during theperiod of the Medium-Term Business Plan

Japan Airport Terminal Co., Ltd.

11

Ability to getthings doneGroup synergy

3-4. Our Goals for 2030
We will clarify the Group’s goals for 2030, define what we should do in the Medium-TermBusiness Plan (FY22–FY25), and realize a “human-and-eco-friendly advanced airport.”
The Group’s vision for what aleading airport company needs

Sustainable growth of society
and our GroupTo realize continual strengtheningof functions and internationalizationof Haneda Airport

Evolution as a smart airport(Integration of technology
innovation in the operation andmanagement)
Stable earnings and secure financial
foundations
Team of highly competentpersonnel
Maximization of organizational
strength

Airport terminal company trusted by all stakeholders

human-and-eco-friendly
advanced airport

Permeate sustainability through management and businessdecisions••

Promote businesses in accordance with the Sustainability Basic Policy and theestablished management system
Achieve the CO2 reduction target of 46%

Continue to build operational excellence•

Operational excellence(Simultaneous pursuit of highquality and high efficiency)

Our Goals for 2030

Create a modelrecognized as the best
for airports•••

Continuously improve quality and efficiency, including lessons learned from the
COVID-19 pandemic
Establish new ways to utilize terminals in cooperation with airlines
Use digital marketing to help create new services and improve traveler
satisfaction
Improve productivity, such as controlling operations through DX andsystemization

Establish airport functions with a view to a future rise inairline demandComplete the expansion of T1 and T2 terminals (scheduled to be completed in2025) by developing satellites and promoting operations•
Connect East Japan Railway Company – Haneda Airport Access Line (scheduled tobe completed in 2029) to T2 terminal•
Research and review the development of terminals in cooperation with the review
of artificial land development by the government* Review of connection between terminal T1 and T2 (improvement of a newinternational flight area)•

Establish stable revenue streams and financial foundations•••

Incorporate an increase in airline demand into a rise in revenues from merchandise
sales, food and beverage, and service businesses
Grow newly developed businesses to the extent that they contribute to the earnings
base
Recover the equity ratio to 40% and maintain the rating

Further lift organizational strength and governance•••Japan Airport Terminal Co., Ltd.

Cultivate a corporate culture where people think by themselves and take calculatedrisks, and where members of the diverse workforce motivate each other
Development of a Group management system that adapts to the business environment
Establish governance that realizes higher transparency and equitability of management,
and improve corporate value

12

Worldleading
hospitality

A safe andsecure airport

Pleasant
journeys:stress-free

Eco-airport

3-5. Positioning of the Medium-Term Business Plan (FY22–FY25)
We have established a new Medium-Term Business Plan as a backcast by 2025 that reflects our goals for 2030, setting
the years of 2025 and 2030 as milestones (*). These are important points from the business environment perspective.

(*) ■2030: The target year for 60 million overseas visitors to Japan and the government’s target of 15 trillion yen in
consumption, the SDGs’ target year, and the decarbonization (CO2 reduction of 46%) target year
■2025: The year when the number of passengers is expected to return to the pre-COVID-19 level (as per IATA)

Medium-Term Business Plan (FY22–FY25)

Medium-Term Business
Plan 2020

To Be a World-Best Airport 2025
- towards becoming one of the most advanced,

To Be a World-Best Airport 2020

human-and-eco-friendly airports by 2030 World-leading
hospitality

A safe andsecure airport

Pleasant journeys:stress-free

Eco-airport

Increase capital••

Execute an investment
for internationalization

Secure funds to develop theterminals in the future
Strengthen the financial
foundations in preparation for
prolonged COVID-19

associated with the
expansion of flight slots at
HanedaLessons learned fromthe COVID-19 pandemic
Upgrade the operation ofboth domestic andinternational flights

Making TIAT aconsolidated subsidiary

2016-2020
2016–2020• Terminal management pursuing
flexibility and efficiency• Strengthen and ensure cost
controls• Promote earnings diversification

Target in FY25

Goal for FY30

Grow profit higher than that before
COVID-19, assuming recovery ofpassenger numbers (compared tothe plan before COVID-19)

Airport terminal company
trusted by all stakeholders

Sustainable growth ofsociety and our Group

Further strengthenfunctions andinternationalization ofHaneda Airport

Operational excellence

Evolution as a smart
airportEnsure stability ofearnings and secure
financial foundations

Recruit a team of highly
competent personnel
Maximize organizational
strength

2021
2021

2022–2025
Recovery ofpassenger numbers

COVID-19 pandemic
Japan Airport Terminal Co., Ltd.

13

–2030
60 million overseas visitors to Japan
SDGs’ target year

3-6. Direction of Strategy
The strategy of the Medium-Term Business Plan (FY22–FY25) is to promote “capturing future airline
demand,” which is the driver of growth, as well as “establishment of a foundation for regrowth” and“expansion of the earnings base” to realize it. Also, to maximize the strategy’s efficiency, we will enhance
the management base for “DX,” “organization, personnel, and governance,” and “financial strategy.” In
addition, the Group will pursue sustainability by positioning it as a core of strategy promotion.

［Growth and Evolution］
Grow［Reform and Innovation］
ChangeGrowth of airport business

Establishing a foundation forregrowth

Capture future airline demand

Achieve outcomes through afundamental review during the
COVID-19 pandemic

Growth drive［Facing Challenges］
ExpandExpansion of earnings base
Expand earnings base by developing
businesses in new fields

Enhance the earnings
base

Optimize

Promote sustainability
Pursue sustainability

Create value

・Sustained growth of our Group・Realization of a sustainable
societyEnhance themanagement base
Improve and innovate by harnessing DX
and new technologies
Japan Airport Terminal Co., Ltd.

Organization, personnel, andgovernance
14

Financial strategy

3-6. Direction of Strategy: Business Segment (1)Facilities management

Our goals for2025

To achieve both high quality and profitability, we are reviewing terminal operations andpromoting the functional strength of airport infrastructure toward increasing thenumber of non-Japanese visitors to Japan in 2030, while striving to reduce maintenanceand management costs and increase revenues such as rents.

Directionofstrategy

ChangeBased on the expense structure reviewed during the COVID-19 pandemic, we are operating the terminals
efficiently.
We are enhancing real estate management by reviewing leasing and rent structures to increase revenues.

Grow

With a view to 60 million overseas visitors to Japan in 2030, we plan to strengthen functions while contributing tosociety.

ExpandWe are aiming to improve performance at domestic airports as a whole by acquiring new technologies that arenecessary for environmental measures and combating infectious diseases.

Operations and management
perspective

Concretemeasures

Sustainability■Operational excellence┗Improve services and labor-saving for
guidance operations, etc. by leveraging
technologies such as robots■Fundamental review and lessons learned in
the COVID-19 pandemic┗Suppress rebound from operational
cost reductions (restructuring of serviceprovision processes)┗Review border control measures incooperation with relevant ministries
and agencies as well as airlines inregard to new infectious diseases■Review terminal operations with a viewto changes in airport usage, including
off-airport check-in

Improved revenue perspective

Facility infrastructure perspective■Commercial renovations and measuresagainst vacant space┗Vitalize by providing new content┗Review relocations associated withexpansion of facilities■Connection between T2 satellite andthe main building, which helps to
optimize flows of passengers and improve
on-time performance■New construction of T1 satellite on thesidelines of the government’s apron
upgrade■Review with a view to an increase in
future airline demand┗Connection between the East Japan
Railway Company Airport New AccessLine and T2┗Connection between T1 and T2(improvement of the international flightarea)■Acquire new alliance partners forlounges and increase the number of users■Develop advertising media byleveraging flexible and efficient digital
signage■Planning and execution of the long-term repair program for terminal buildings, including environmental measures┗Decarbonization (further promoting a change of lighting to LED and replacement of air conditioners)┗Disaster response (completion of renovating specific ceilings and provision of timely information when a disaster strikes by introducing
digital signage)■Enhance universal design, such as installing additional emergency flashbulbs for hearing-impaired persons■Reduce waste by promoting secondary use, etc. of materials for terminal operations (PBB, decorative accessories in buildings, etc.)

Japan Airport Terminal Co., Ltd.

15

3-6. Direction of Strategy: Business Segment (2)Merchandise sales/Food and beverage

Our goals for
2025

While reviewing the product mix, services, operations, cost rates, etc., we will uncovercustomer needs where consumption trends have changed by taking advantage of digitalmarketing, and aim for operating revenues from merchandise sales of 156 billion yen
and operating revenues from food and beverage sales of 18 billion yen.
Directionofstrategy

Concretemeasures

Change

Review operations and cost rates through research into new technologies and cultivating new
business partners.

Grow

Review merchandise, services, etc. through digital marketing.

ExpandExpand sales channels by EC business, etc. to earn revenues that are not passenger-dependent.

Revenue structure perspective

Sales expansion perspective

New earnings base perspective■Improve efficiency and diversificationof store operations┗Introduce self-checkout at storeswith centralized cash registers┗Develop stores with showrooms
that do not have inventory┗Research non-contact services■Refurbish stores in the T1 marketplace┗Expand the direct-from-the-farm business incollaboration with local regions (Complex stores■Expand sales channels and merchandise
by leveraging EC┗Develop Click&Collect by utilizing the
airport site
┗Develop new channels of cross-border EC┗Improve use of duty-free reservation sitein collaboration with operators related tointernational flight passengers(Strengthen “customer transfer” byutilizing QR codes)■Develop “retail-tainment” that provides
experience value(automated accounting [RFID], etc.)■Reduce cost rates by developing
Haneda-original products andexpanding sales shareconsisting of merchandise sales, food and beverage,
and services)■Introduce top-brand merchandise in the T3
duty-free shop
┗Differentiate by developing original products┗Develop T2 duty-free stores by leveraging
virtual technology■Develop ethical products due to growing demand■Strengthen one-to-one marketing to airport
users■Develop and improve ethical products (develop upcycling products, fair-trade products, and locally produced products, etc.)■Changes in materials of shopping bags and charging fees
■Reduce merchandise waste disposal (outlet sales, measures against food loss, etc.)

Sustainability

Operating revenue target:
Merchandise sales

188.0

193.0

(Billions of yen)Previous Medium. Plan target
Term Business(FY2020)

Japan Airport Terminal Co., Ltd.

FY2025
.

20.0

21.0

Previous Medium. Plan target
Term Business(FY2020)

FY2025

Food and beverage

156.0(Billions of yen)

New revenue.
recognition
accounting standard

16

.

18.0

New revenue.
recognition
accounting standard

3-6. Direction of Strategy: New Initiatives
New business/Expertise businessOur goals for
2025

These businesses are expected to part of the earnings base in 2030. By utilizing
Haneda’s value and networks, and airport operational expertise, and through acquiring
management resources we currently do not have, we aim to generate operating
revenues of 10 billion yen in 2025.
Directionofstrategy

Concretemeasures

Sustainability

Grow

Aim to increase revenues by developing new businesses that take advantage of Haneda’s value
and focusing on existing expertise in airport operations.

ExpandAim to acquire new technologies and expertise, leading to the creation of new businesses.

Perspective of utilizing Haneda’s value

Perspective of utilizing know-how■Further strengthen EC business (Referto the previous page for details)■Create customer-attracting businesses byleveraging Haneda’s site and networks,
including art auctions in a bonded area andrevitalizing local regions■Strengthen cooperation withsurrounding areas such as HICity andacquire earnings opportunities■Develop and improve services forbusiness jet users, including duty-freemerchandise sales■Develop business by taking advantage ofHaneda’s uniqueness and actual
performance┗Agency business for Radi-Cool robots┗External sales of in-flight meals, cleaning
technologies, etc.
(Further operationalizing the Group’s
expertise)┗Airport operation consulting┗Development of duty-free business, etc.
by participating business operators at the
airport

Perspective of creating new
management resources■Conduct aggressive R&D and introduce
new technologies that increase
passenger convenience, and expand
these outside the airport■Research on next-generation mobility■Research and development of new
business seeds■Contribute to developing the surrounding areas and the Tokyo metropolitan area, as well as revitalizing local regions by taking
advantage of Haneda’s site and networks■Solve social issues such as securing a labor force through developing new technologies including robots(Provided by Kyushu Kumamoto International Airport Co., Ltd.)

Japan Airport Terminal Co., Ltd.

17

3-6. Direction of Strategy: Management BaseManagement BaseDX Strategy

Organization, Personnel, andGovernance

Financial Strategy

Leverage technologies with a focus
on digital and AI
Digitally link information and data
Evolve into a smart airport

Appoint external personnel andstrengthen external relationships
Expertise and diversity of personnel
Corporate culture of “Think by
oneself and take on challenges”

Make financial position healthier as
early as possible
Establish an advanced businessevaluation and management system
Adequate investment in new
business opportunities■Clarification of DX strategy┗Conduct digital marketing┗Develop sales channels┗Improve the quality of security, services, etc.
┗Promote improvement in operational
efficiency in the administration department(Increase the degree of accuracy in realestate management and merchandiseorders)■Promote aviation innovation■Research new forms of aviation mobility■[Organization]
Group structure according to strategy■[Personnel]
Secure a diverse range of personnel┗Business-business and/or businessacademia collaboration, and secondment tooutside organizations┗Promote the empowerment of women┗Promote employment of people withdisabilities■[Governance]
Ensure the board of directors fulfills its
functions■Establish a robust financial base with a view
to investment for growth┗Develop a financial base, considering ratings┗Refinance hybrid loans, etc.
■Review the diversification of funding with aview to environmental measures┗Invest in green bonds, etc. for CO2 reduction■Engage with investors in the prime market┗Review business evaluation and adequate
resource allocation based on capital cost

We will strengthen marketing endeavors, aiming for customer-centered terminal operations,and apply them to the strategy to provide top-quality hospitality.
■Promote business based on the Sustainability Basic Policy

Sustainability■Install a sustainability promotion organization (committee, full-time body and working group [WG] by subject)■Proactively disclose information to stakeholders┗Respond to the revised CGC and the TCFD recommendations, and review toward issuing an integrated reportJapan Airport Terminal Co., Ltd.

18

3-7. Sustainability(1) Sustainability Basic Policy
Under the basic philosophy “To foster harmony between the public and the Group,” we will help to realize asustainable society through our business activities.
Based on the newly developed Sustainability Basic Policy, the entire Group will promote sustainability in cooperation
with our stakeholders.
Basic philosophy

The Japan Airport Terminal Group, as a purely private company assuming construction, management andoperation of highly public passenger terminals, is fully aware of its social role and management goals in order to“Foster harmony between the public and the Group.”

Sustainability Basic Policy
The Japan Airport Terminal Group, as a purely private company assuming construction, management and operation ofhighly public passenger terminals, has adopted a basic philosophy of “To foster harmony between the public and theGroup.” To realize “To Be a World-Best Airport - To be the world’s most respected airport, pursuing the satisfaction of all
stakeholders -,” we will promote sustainable business activities while contributing to the development of thesocioeconomy under the Sustainability Basic Policy.

Goals (visions) we are aiming
for in 2030

human-and-eco-friendly
advanced airport 2030

Customers

World-leading hospitality(1) Serving as an air gateway to Japan, we strive to operate customer-centered passenger terminals (convenience,
comfortableness and functionality), continuously work at improving services and operations while actively utilizing
digital technologies, and provide the best hospitality.

A safe and secure airport

Partners(2) Together with partners such as airline companies, tenants and subcontractors, and the national government, we
promote development of safe and secure airports and open innovation toward mutual growth.

Pleasant journey: stress-free(3) We give consideration to physical and mental health and security of officers and employees, and strive to develop
personnel and improve work environments so that they can work with a motivation while exercising a wide range ofabilities they have in various fields associated with the airport.

Eco-airport(4) In partnership with surrounding communities, we not only contribute to the growth of the Tokyo metropolitan area,
but also enable domestic air mobility in cooperation with airports throughout the country as the hub of the aviation
network, and aim to co-exist and co-prosper with local communities throughout Japan.

Social image when the goals
are achieved(5) We endeavor to be transparent in disclosing information on a timely basis and increase corporate value from a longterm perspective, based on engagement with shareholders and investors.

Japan where travelers want tovisit

Employees

Local Communities

Shareholders/Investors

Global Environment(6) In moving toward a decarbonized society and/or a resource-circulation society, we aim to reduce the environmental
burden associated with business activities through, for example, promoting measures against global warming and 3R,
and realize sustainable airports in harmony with the global environment in cooperation with stakeholders.

Common(7) Having ensured absolute safety, we properly manage risks that may pose a threat to business activities. Also, weroutinely promote disaster prevention measures, etc. and business continuity management so that, even in
emergencies, we can ensure safety and continue operating the passenger terminal, which is public infrastructure,
without delays.
(8) We comply with domestic and overseas laws, regulations and rules, and carry out business honestly and fairly while
taking human rights into consideration.

Japan Airport Terminal Co., Ltd.

19

Sustainable growth of resilient
aviation network
Society where people can movesafely in a comfortable way
Carbon neutral
Decarbonized society3-7. Sustainability(2) System for promoting sustainability management
We will establish a Sustainability Committee in July 2022, which will be chaired by the President andRepresentative Director. In addition, we are planning to establish a Sustainability Promotion Office as a
dedicated body under direct control of the President.
Under the umbrella of the Sustainability Committee, we will create theme-based working groups and implement
initiatives on sustainability on company-wide.

Sustainability Promotion System

Outline of the Sustainability Committee

Board of Directors
Board of Auditors/Advisory Committee on
Remunerations/Nominating Advisory Committee

Executive Committee
Sustainability Committee

Compliance Promotion
Committee

Information sharing
Secretariat
and cooperation
Japan Airport Terminal
Sustainability Promotion OfficeGroup Customer Satisfaction(scheduled to be established)
Promotion Council

Corporatewide
development

Theme-based working groups

Committee
members

Chairperson: President and Rep. Director
Members: Vice-president and all other officers(including executive officers)

Secretariat

Sustainability Promotion OfficeFrequencyof meetings

Twice a year or more

Matters fordeliberation■Policy on sustainability■Capturing critical sustainability issues■Response to risks and opportunities■Establishment of plans and targets relating tosustainability and progress management (PDCA)■Stakeholder communication, etc.

OthersScheduled to establish theme-based working groups(energy saving/creation WG, etc.)(energy saving/creation WG, new energy WG,
resource circulation WG, etc.)

Each business division/Group company

Beyond FY22, we intend to aggressively implement initiatives that strengthen the foundation forsustainability management, such as creating a medium-term sustainability plan based on a materiality
analysis and promoting information disclosure in accordance with the TCFD recommendations.
Japan Airport Terminal Co., Ltd.

20

3-7. Sustainability(3) Sustainability initiatives<Current initiatives>
World-leading hospitality

A safe and secure airport

CS (Initiatives to improve customer satisfaction)

Initiatives for disaster and crime prevention• Create a CS Philosophy and CS Services Basic Policy• Establish the Japan Airport Terminal Group Customer Satisfaction Promotion Council, and target
management where the compliment/complaint rate and/or the customer satisfaction level are
set as KPIs
• Implement various CS measures (install additional charging stations, improve the Wi-Fi
environment, introduce hand dryers with air-cleaning functions, etc.)• Win the world’s best 5-Star Airport from SKYTRAX• Install a 24-hour disaster prevention center• Develop a disaster response manual (including a manual for response to A2-BCP)• Periodically carry out joint training that includes each Group company and tenant• Stockpile equipment for disaster and crime prevention, promote participation in a basic criticalcare course, introduce an emergency earthquake announcement system, establish voluntarystandards for quality control and hygiene management for stores, etc.

Pleasant journeys: stress-free

Eco-airport

Promote universal design

Initiatives for CO2 reduction• Install facilities expecting a variety of customers (wide moving sidewalk, multi-function toilets,
toilets for assistance dogs, “calm down, cool down space,” etc.)• Promote acquisition of qualifications such as that for service care-fitters and sign language
interpreters• Post on the website the names of stores that offer halal vegetarian foods and those that offer
vegan products• Respond to energy-saving measures for electricity use and air conditioning (change lighting
to LEDs, install geothermal heat pumps, etc.)• Install a large-scale solar power generation system, adopt “Radi-Cool,” which is a radiantcooling material that leverages advanced technologies, install plug-in stations for electricvehicles, etc.

Waste reduction and recycling

Leveraging new technologies• Create a mechanism to realize innovation (establish HANEDA ROBOTICS LAB, etc.)• Adopt advanced technologies (cleaning robots, electric wheelchairs, AI concierges, multilingual
video interpretation service, smart translation masks, etc.)• Provide shopping bags that use renewable materials, eliminate plastic straws at directly
managed stores, and recycle milk cartons disposed of at the lounge into toilet paper• Launch of “TABETE Rescue Deli” to reduce food loss
• Reduce general waste by utilizing fully automated vanishing-type food waste disposers

Foundation supporting value creation (Initiatives common to all perspectives)
Occupational safety and health, and health-focused management

Development of personnel and engagement• Implement rank-specific training, including languages and sign languages across the entireGroup• Conduct interviews and follow-up for junior staff• Establish a new Work-Style Reforms Promotion Team Leader Council• Promote preventive measures against infectious diseases, and obtain certification for the AHA
program from Airports Council International (ACI)• Collaborate with an occupational health physician, set up a mental health counseling desk, etc.

<Key initiatives in the future>
Eco-airport

Hospitality

Pleasant
journeys:stress-free・Initiatives to achieve the 46% CO2 reduction target by 2030
┗Promote a change of lighting to LEDs and responses todecarbonization such as replacing air conditioners
・Obtain T1 satellite ZEB Oriented
・Reduce food loss and reduce waste disposal by reusing materials, etc.
・Change materials used in shopping bags and charge fees for the bags

・Further initiatives to improve customer satisfaction (CS)
┗Enable smooth guiding by installing additional digital signage and
FIS┗Upgrade Wi-Fi equipment┗Install additional emergency flashbulbs for hearing-impaired persons

Japan Airport Terminal Co., Ltd.

Safety andsecurity・Respond fast to earthquake damage, such as repairing specific ceilings
・Eliminate blind spots by increasing the number of ITV cameras (T2)
・Introduce non-contact customer service (self-checkouts, automated payment, etc.)
・Develop and expand the range of ethical products

Create┗Upcycling products, fair-trade products, locally produced products, etc.
・Contribute to the development of surrounding areas and the Tokyo metropolitan
business
opportunities area as well as to the revitalization of local regions by taking advantage of Haneda’ssite and networks

Solve social
issues21

・Diversity of personnel┗Business-business or business-academia collaboration, promote the empowerment of
women and promote the employment of people with disabilities
・Solve social issues such as securing the labor force through developing new technologies
such as robots

3-8. Strategy Road Map
2022

2023

2024

2025

Establish the Sustainability Promotion OfficeSustainability(Strengthen the foundations of sustainability management)

Promote business based on the Sustainability Basic Policy

Terminal 1

Facilities
management

Terminal 2

Construct a new satellite

2026

2027

2028

2029

Reduce CO2: Implement measures to achieve quantitative
indicators

CO2 reduction-46%(compared to2013)

Response to development, renovation, etc. of the apron(in conjunction with the government’s apron upgrade)

Respond to the Haneda Access Line

Connect the satellite to the mainbuilding(expected to start in 2029)

Promote operational excellence
Operational Excellence (Simultaneously pursue high efficiency and highSuppress rebound from operational cost reductions

quality)＋
Further strengthen the functions of airport infrastructure andthe internationalization to prepare for an increase in overseas
visitors to Japan(Review with a view to an increase in future airline demand)

Take measures against vacant space
Renovate commercial zones

Improve efficiency of and diversify store operations

Merchandise
sales/Food andbeverage

Develop Haneda-original products and expand sales share
Develop “retail-tainment” that provides experience value
Expand sales
channels andmerchandise byleveraging EC

New business/
ExpertisebusinessStrengthen one-to-one marketing to airport users

Utilize Haneda’s value + utilize its expertise: Strengthenbusiness development

Contribute to profits as one of the earnings bases

Research and develop new business seeds

DX promotion

Leverage technologies, with a focus on digital and AI
Digitally link information and data
Evolve into a smart airport

Improve operational efficiency in the administration
department
Promote innovation in the aviation industry
Group structure according to strategy

Maximize organizational strength
Form a team of highly competent personnel

Ensure expertise and diversity of personnel
Cultivate a corporate culture of “Think by oneself and take onchallenges”

Japan Airport Terminal Co., Ltd.

Number ofoverseas
visitors toJapan:
60 million

Expand sales channels and merchandise, including EC, cross-border EC and duty-free reservation sites

Promote digital marketing

Organizationand personnel

2030

22

Consumption:

15 trillion
yen

Government
target3-9. Numerical Goals
Idea of numerical goals▶An entity creating a “model recognized as the best in the world”⇒

Airport evaluation▶Strengthening “earning power” with a focus on sustainability management ⇒Profitability

Efficiency▶Flexible response to changes in a business environment of great uncertainty ⇒Stability

Shareholder return▶A business entity that invests by taking advantage of opportunities forcontinuous growth⇒

Investment plan

■ FY25 Guidelines and the target profit and loss
<Guidelines><Target profit and loss>

Previous standards: The previous revenue recognition accounting
standards were applied to these figures.

Indicator type

Indicators used

Target level

Profitability(Comprehensive)

Consolidated net
income16 billion yen or more

Profitability

Cost reduction
amountEfficiency

ROA (EBITDA)

Stability

Equity ratio

2.5 billion yen(Equivalent to 10% of the operating income target of 25
billion yen in the previous Medium-Term Business Plan)

12% or higher

P&L for FY25
Operatingrevenues

280.0 billion
yen

320.0 billion
yen

Facilities
management

106.0 billion
yen

106.0 billion
yenMerchandise
sales

156.0 billion
yen

193.0 billion
yen

Food andbeverage

18.0 billion
yen

21.0 billion yen

Operating income

30.0 billion
yen

Ordinary income

27.0 billion
yen

Net income

16.0 billion
yen

Aim to recover to the level of 40%

Shareholder
returnPayout ratio

30% or more

Airportevaluation

SKYTRAXevaluation ranking

World’s Best Airports TOP 3* Number of passengers in FY25: Assuming that the number of passengers will recover to the level of that in FY20 (after the expansion ofinternational flight facilities), when the number of passengers was not affected by COVID-19([Estimated number of passengers at Haneda Airport] Domestic flights: 69 million passengers, International flights: 25.6 million passengers)

Japan Airport Terminal Co., Ltd.

23

Reference: Previous
standards*

3-10. Investment Plan
■ Estimated investment amount during the plan period

Investment plan

(Billions of yen)

FY22

FY23

FY24

FY25

Plan period total

15.0

29.0

34.0

27.0

105.0

Facilities management

93.0 billion yen

・T1/T2 satellite improvement construction, facility replacement construction, etc.

Merchandise sales/Food and beverage

5.0 billion yen

・Store renovation construction, system renewal, etc.

New business/Expertise business3.0 billion yen

・HANEDA INNOVATION CITY, EC business, robot business, etc.

Management base and others

4.0 billion yen

・DX investment, etc.

➤ Investment in improvement of the T1/T2 satellite
Investment plan forsatellite upgrade(Billions of yen)

FY22

FY23

FY24

FY25

Plan period total

6.0

19.0

18.0

10.0

53.0

Construction of facilities related to CO2 reduction (Total construction costs from FY22 to FY25)
・ Construction to convert lighting to LEDs: 3.0 billion yen
・ Construction to replace air conditioners: 5.0 billion yen* Planned investment amount: 3.5 billion yen
Japan Airport Terminal Co., Ltd.

24

3-11. Estimated Number of Travelers■ Estimated number of travelers using Haneda Airport during the plan period
Domestic flights

International flights

Will recover to the level before the impact of
COVID-19 (*) at the beginning of FY23

Will recover to the level planned for after the expansionof flight slots within FY24

* Before the impact of COVID-19:
FY19 results (Apr.–Jan.) + Our forecasts (Feb.–Mar.)(10 thousands)(10 thousands)

FY21

FY22

FY21

FY23

FY22

FY23

FY24

FY25

Number of passengers

2,838

5,852

6,900

Number of passengers

83

466

1,210

2,310

2,560

Comparison with before
impact of COVID-19

41%

85%

100%

Comparison with plan

3%

18%

47%

90%

100%

About 69 million passengers are estimated annually after FY23 as wellComparison with before impact of COVID-19

Comparison with plan after the expansion

100%

100%
100%

80%

80%

60%

60%

40%

40%

20%

20%

0%

100%

0%
1Q

2Q

3Q

4Q

FY2021
Japan Airport Terminal Co., Ltd.

1Q

2Q

3Q

4Q

1Q

2Q 3Q
FY20234Q

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1QFY2023
2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

FY2024FY2022

FY202125

FY2022

FY2025

Intentionally blank

Japan Airport Terminal Co., Ltd.

26

Earnings Explanatory Meeting
April 1, 2021 to March 31, 2022 (FY21)

Supplementary Material
1. Details of Consolidated Financial Results for FY21
2. Details of Consolidated Financial Forecast for FY22
3. Other Information* 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.
https://www.tokyo-airport-bldg.co.jp/

1. Details of Consolidated Financial Results for FY21
(1) Changes in Passenger Volume (Haneda, Narita, Kansai and Chubu Centrair)(Thousand passengers)

70,00065,396
66,81960,000

Haneda Airport – domestic flights(Thousand passengers)

20,00017,12067,88618,164

Haneda Airport – international flights
16,82358,52815,00050,000FY21 results +100.2%

FY21 results +37.7%(Compared to Nov. 2021 forecast -61.4%)(Compared to Nov. 2021 forecast -22.5%)

40,00010,000

1H results + up 42.6％
2H results + up 34.9％

1H results + up 137.6％
2H results + up 75.2％

30,000

4,661

5,000

28,381
20,000

414

830

2020

2021

20,606
10,000

0

FY

2016

2017

20 18

(Thousand passengers)

40,00033,47935,870

2019

2020

20 21
← Results

2022
Forecast →

FY

2016

2017

2018

2019

← Results

2022

Forecast →(Thousand passengers)

Narita Airport – international flights

30,00034,018Kansai Airport – international flights
FY21 results +29.9%(Compared to Nov. 2021 forecast -81.3%)
30,00020,000FY21 results +85.3%(Compared to Nov. 2021 forecast -31.5%)

Chubu Centrair Airport– international flights

20,000

1H results + up 81.3％
2H results + up 88.1％

10,000

8,892

10,000FY21 results +183.1%(Compared to Nov. 2021 forecast -84.8%)

2,345
1,265

0

2016

0

FY

2017

2018

2019

2020

2021
← Results

2016

2022
Forecast →

28

FY

2017

2018

2019

2020

2021
← Results

2022
Forecast →Passenger volume
Results: Figures published by Minister of Land, Infrastructure, Transport and Tourism, Narita
International Airport Corporation, Kansai Airports Co., Ltd. and Central Japan International
Airport Co., Ltd.
Forecast: Created by the Company

1. Details of Consolidated Financial Results for FY21
(2) Consolidated Financial Results for FY21
Note: figures for FY20 have been reclassified in accordance with the revenue recognition accounting standard.

Consolidated financial results for the year (1H / 2H / full-year)
Items

1st Half
FY21

FY20

2nd Half
ChangeFY21

FY20

Full Year
Change

FY21

FY20

Ratio

ChangeRatio

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen％

Millions of yen

25,896

20,071

5,824

31,161

26,471

4,690

57,057100.0

46,542100.0

10,514

Facilities management

18,825

16,5192,305

21,204

19,5291,674

40,02970.1

36,049

77.5

3,980

Merchandise sales

5,546

2,538

3,007

7,628

5,242

2,386

13,174

23.1

7,781

16.7

5,393

Operating revenues

Food and beverage
Cost of sales
Cost of sales of merchandise(Ratio)(Cost of sales of food and beverage(Ratio)Gross profit
Selling, general andadministrative expenses

Operating invome
Non-operating income/loss

Ordinary income
Extraordinary income/loss
Net income attributable toowners of parent(％ Millions of yen

1,523

1,012

510

2,329

1,699

629

3,852

6.8

2,712

5.8

1,140

4,221

2,835

1,386

6,382

6,198

183

10,604

18.6

9,034

19.4

1,569

2,926

1,493

1,432

4,709

4,812

-102

7,635

13.4

6,305

13.5

58.8％)( -6.0P)

91.8％)( -30.1P)

1,295

1,341

-46

1,386

286

52.8％)((

61.7％)

(

1,672

(

58.0％)

2,968

(

5.2

81.0％)

2,728

1,330
( -23.0P)

5.9

239

85.0％)( 132.5％)( -47.5P)(

81.6％)( -9.8P)(

21,674

17,236

4,438

24,77920,272

4,506

46,453

81.4

37,508

80.6

8,945

43,49949,503-6,00344,20947,025-2,81687,709153.7

96,528207.4-8,819-21,825-32,266

10,441-19,430-26,753

7,323-41,255-72.3-59,020-126.817,764

71.8％)(

77.0％)( 100.6％)( -23.6P)-2,4801,760-4,241

-124

-60

-64

-2,605

-4.6

1,699

3.7

-4,305-24,305-30,506

6,200-19,555-26,8147,258-43,861-76.9-57,320-123.2

13,459-20-1,021

1,000

323

3,521

-3,198

302

0.5

2,500

5.4

-2,198-14,478-22,879

8,400-10,738-13,698

2,960-25,217-44.2-36,578-78.6

11,361* Ratio: Cost of sales of merchandise / Operating revenues of merchandise
Ratio: Cost of sales of food and beverage / Operating revenues of food and beverage

29

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

1. Details of Consolidated Financial Results for FY21
Note: figures for FY20 (results) have been reclassified in accordance with the revenue recognition accounting standard.

Consolidated financial results for the year (FY21 / FY20 for comparison / Forecast for comparison)
FY21 (Results)
Items

FY20 (Results)

Amount affected

Ratio

Ratio

due to TIAT
consolidation

Millions of yen

Revised Forecast

Amount affected

Changedue to TIAT

Rate of
ChangeAmount affected

（※１）

Ratio

consolidation

Millions of yen

Millions of yen

100.0-6,88546,542100.0-10,924

10,51422.6

69,500100.0-6,900-12,442

Facilities management

40,02970.1-8,91336,04977.5-11,018

3,980

11.0

44,20063.6-7,600-4,170

Merchandise sales

13,174

23.1

2,023

7,781

16.7

93

5,393

69.3

20,40029.4

700-7,225

Food and beverage

4

1

0

-1,0470-3,995

Cost of sales(Ratio)Selling, general andadministrative expenses

Operating invome
Non-operating income/loss
Ordinary income
Extraordinary income/loss
Net income attributable toowners of parent

Millions of yen％

Millions of yen

3,852

2,712

5.8

1,140

42.0

4,900

7.1

10,604

18.6

9,034

19.4

1,569

17.4

14,600

21.0

7,635

13.4

6,305

13.5

1,330

21.1

11,50016.5(

58.0％)

2,968

Cost of sales of food and beverage

Gross profit

Millions of yen

6.8

Cost of sales of merchandise(Ratio)Millions of yen

consolidation

57,057

Operating revenues

Millions of yen

Difference

due to TIAT((

81.0％)

2,728

5.2

77.0％)( -23.0P)

239

5.9

( 100.6％)

(

3,100

8.8

( -23.6P)(-3,864

56.4％)( 1.6P)-131

4.5

63.3％)( 13.7P)

46,453

81.4

37,508

80.6

8,945

23.8

54,90079.0

0-8,44687,709153.7

96,528207.4-8,819-9.1

90,000129.5

0-2,290-41,255-72.3-59,020-126.817,764--35,100-50.5-26,900-6,155-2,605

-4.6

1,699

3.7

-4,305--2,600

-3.7

0

-5

-43,861-76.9-57,320-123.2

13,459--37,700-54.2-31,400-6,161

302

0.5

2,500

5.4

-2,198

-88

-100

-0.1

0

402

-25,217-44.2-36,578-78.6

11,361--21,300-30.6-15,400-3,917-29,162-33,735-16,821-33,106-33,247-18,884*1 Financial forecast announced in November 2021
*2 Ratio: Cost of sales of merchandise / Operating revenues of merchandise
Ratio: Cost of sales of food and beverage / Operating revenues of food and beverage

30

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

1. Details of Consolidated Financial Results for FY21
(3) Financial Results by Segment

Note: figures for FY20 (results) have been reclassified in accordancewith the revenue recognition accounting standard.

(i) Facilities management
FY21 (Results)
Items

FY20 (Results)

Amount affected

Ratio

Revised Forecast

Amount affected

Ratio

due to TIAT
consolidation

Rate of

ChangeChangedue to TIAT

Amount affected（Nov.2021）

Ratio

consolidation

Difference

due to TIAT
consolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen％

Millions of yen

Millions of yen

Rent revenues

18,54344.1-3,993

17,71247.0-4,296831

4.7

18,40039.3-4,200143

Facility user charges revenues

10,539

25.1

1,498

7,644

20.3

908

2,894

37.9

14,700

31.4

3,000

-4,160

Other revenues

10,94626.1-6,418

10,692

28.4-7,631254

2.4

11,10023.7-6,400-153

Subtotal

40,02995.3-8,91336,04995.7-11,018

3,980

11.0

44,20094.4-7,600-4,170

1,982

4.7

896

1,614

4.3

673

367

22.8

2,600

5.6

1,000

-617

42,012100.0-8,017

37,663100.0-10,345

4,348

11.5

46,800100.0-6,600-4,787

Operating expenses

66,876159.2

17,40973,947196.3

19,606-7,071-9.6

65,900140.8

17,800976

Operating income-24,863-59.2-25,426-36,283-96.3-29,952

11,419--19,100-40.8-24,400-5,763

Sales to external customers

Intersegment sales
Total(Ratio)(-59.2％)

・Rent revenues:

・Facility user charges revenues:
・Other revenues:(-96.3％)( 37.1P)(-40.8％)

Increase in revenue from leased space due to a reduction in the range, etc.
of rent reductions or exemptions, and increase in commission rent in domestic terminal
Increase from renting space in international terminal as a PCR testing area, etc.
Increase in fees for use of passenger facilities for domestic flights
Increase in fees for use of passenger facilities for international flights
Increase in revenue from parking fees, paid airport lounges, etc.
Decrease in advertising fees, etc.

31

( -18.4P)+ 0.5 billion+ 0.2 billion+ 2.2 billion+ 0.5 billion+ 0.9 billion－ 0.8 billion

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

1. Details of Consolidated Financial Results for FY21
(3) Financial Results by Segment

Note: figures for FY20 (results) have been reclassified in accordancewith the revenue recognition accounting standard.

(ii) Merchandise sales
FY21 (Results)
Items

FY20 (Results)

Amount affected

Ratio

Revised Forecast

Amount affected

Ratio

due to TIAT
consolidation

Rate of

ChangeChangedue to TIAT

Amount affected（Nov.2021）

Ratio

consolidation

Difference

due to TIAT
consolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen％

Millions of yen

Millions of yen

Domestic terminal stores

5,166

37.1

-

3,242

38.1

-

1,923

59.3

6,200

29.7

-

-1,033

International terminal stores

4,242

30.4

1,328

2,192

25.8

668

2,050

93.5

6,900

33.0

3,300

-2,657

Other salees

3,765

27.0

694

2,345

27.6

-575

1,419

60.5

7,300

34.9

-2,600-3,534

13,174

94.5

2,023

7,781

91.5

93

5,393

69.3

20,40097.6

700-7,225

769

5.5

452

720

8.5

522

48

6.7

500

2.4

1,700

269

13,944

100.0

2,475

8,501

100.0

615

5,442

64.0

20,900

100.0

2,400

-6,955

Operating expenses

20,078

144.0

3,945

19,823

233.2

1,791

255

1.3

27,200

130.1

2,800

-7,121

Operating income-6,134-44.0-1,469-11,322 -133.2-1,176

5,187--6,300

-30.1

-400

165

Sales to external customers

SubtotalIntersegment sales
Total(Ratio)(-44.0％)

・Domestic terminal stores:
・International terminal stores:

・Other sales:(-133.2％)( 89.2P)(-30.1％)

Increase in sales of directly managed stores, etc. at Haneda domestic terminal
Increase in sales of directly managed stores, etc. at Haneda international terminal
Increase in sales of directly managed stores at Narita Airport
Increase in wholesale sales to other airports

32( -13.9P)+ 1.9 billion+ 1.1 billion+ 0.9 billion+ 1.4 billion

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

1. Details of Consolidated Financial Results for FY21
(3) Financial Results by Segment

Note: figures for FY20 (results) have been reclassified in accordancewith the revenue recognition accounting standard.

(iii) Food and beverage
FY21 (Results)
Items

FY20 (Results)

Amount affected

Ratio

Revised Forecast

Amount affected

Ratio

due to TIAT
consolidation

Rate of

ChangeChangedue to TIAT

Amount affected（Nov.2021）

Ratio

consolidation

Difference

due to TIAT
consolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen％

Millions of yen

Millions of yen

Sales from restaurants

2,790

60.0

4

2,077

58.4

1

712

34.3

3,600

67.9

-

-809

Sales from in-flight meals

730

15.7

-

365

10.3

-

364

99.9

800

15.1

-

-69

Other salees

332

7.1

-

269

7.6

-

63

23.4

500

9.4

-

-167

3,852

82.9

4

2,712

76.2

1

1,140

42.0

4,900

92.5

-

-1,047

796

17.1

-

845

23.8

-

-48

-5.7

400

7.5

-

396

4,649

100.0

4

3,557

100.0

1

1,091

30.7

5,300

100.0

-

-650

Operating expenses

7,741

166.5

77

7,708

216.7

112

32

0.4

7,900

149.1

100

-158

Operating income-3,091-66.5-73-4,150 -116.7

-110

1,059

-

-2,600

-49.1

-100

-491

Sales to external customers

SubtotalIntersegment sales
Total(Ratio)(-66.5％)

・Sales from restaurants:
・Sales from in-flight meals:(-116.7％)( 50.2P)

Increase in sales at domestic flight restaurants
Increase in sales to client airlines

33(-49.1％)( -17.4P)+ 0.6 billion+ 0.3 billion

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

1. Details of Consolidated Financial Results for FY21
(4) Breakdown of Selling, General and Administrative Expenses
Note: figures for FY20 (results) have been reclassified in accordance with the revenue recognition accounting standard.

Items

FY21

FY20

(Results)(Results)
Ratio

ChangeRatio

Rate ofchangeMillions of yen％

Millions of yen％

Millions of yen％

Operating revenues

57,057100.0

46,542100.0

10,514

22.6

Selling, general and administrative

87,709153.7

96,528207.4-8,819-9.1

10,201

17.9

11,017

23.7

-816

-7.4

Provision for employees' bonuses

583

1.0

925

2.0

-341

-36.9

Expenses for retirement benefits

921

1.6

977

2.1

-56

-5.7

8,762

15.3

11,73025.2-2,967-25.3

Business consignment expenses

11,33819.9

12,121

26.0

-783

-6.5

Depreciation expenses

31,71555.6

34,31073.7-2,595-7.6

Other costs and expenses

24,18642.4

25,44454.7-1,258-4.9

expenses

Salaries and wages

Rent expenses

34

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

1. Details of Consolidated Financial Results for FY21
(5) Changes in Non-Operating Income/Expenses and Extraordinary Income/Loss
Note: figures for FY20 (results) have been reclassified in accordance with the revenue recognition accounting standard.

Items

FY21

FY20

(Results)(Results)
Ratio

ChangeRate of Change

Ratio

Millions of yen％

Millions of yen％

Millions of yen％

Operating revenues

57,057100.0

46,542100.0

10,514

22.6

Operating income-41,255-72.3-59,020-126.817,764

-

3,665

6.4

7,607

16.3

-3,942

-51.8

85

0.1

2,660

5.7

-2,574

-96.8

3,579

6.3

4,947

10.6

-1,367

-27.6

6,271

11.0

5,908

12.7

363

6.1

2,744

4.8

2,289

4.9

454

19.9

1,611

2.8

1,652

3.6

-40

-2.5

1,915

3.4

1,966

4.2

-51

-2.6

Ordinary income/loss-43,861-76.9-57,320-123.2

13,459-Extraordinary income

1,744

3.1

8,995

19.3

-7,251-80.6

Extraordinary loss

1,441

2.5

6,494

14.0

-5,053-77.8

Income taxes-1,939

-3.4

1,140

2.5

-3,080-270.1-25,217-44.2-36,578-78.6

11,361-Non-operationg income
Interest income anddividend
OthersNon-operationg expenses
Interest expenses
Loss on investment by
the equity method

Miscellaneous expenses

Net income attributable toowner's of parent

35

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

1. Details of Consolidated Financial Results for FY21

(6) Consolidated Balance Sheets

Cash and deposit
Securities
Merchandise
Others(Millions of yen)

-63.2 billion+40.0 billion- 4.2 billion- 2.1 billion

59,093Current
assets-29,538

Current
liabilities-22,246

143,407

Short-term borrowings- 0.9 billion
Current portion of bonds withstock acquisition rights -15.0 billion
Accrued expenses- 5.7 billion
Others
- 0.4 billion

36,847

113,868
Long-term loans payable + 8.3 billion
Deferred tax liabilities- 1.0 billion
Others- 0.5 billion
Tangible fixed assets (depreciable assets)
Buildings, etc.
＋ 2.5 billion
Accumulated depreciation -27.8 billion
Intangible fixed assets- 2.7 billion

Investments and other assets
Investment securities+ 1.8 billion
Deferred tax assets+ 0.4 billion

350,010

264,555

Fixedliabilities+6,466

271,021

Fixed
assets-25,775

Retained earnings
Accumulated othercomprehensive income
Non-controlling interest

375,785-25.2 billion+ 1.4 billion-15.7 billion

Equity ratio
195,544

FY202034.3％

FY202133.2％

156,009

Total assets 463,878
2022.3期

Net
assets-39,534

Total assets 519,193
2021.3期

2021.3期

36（ - 1.1Ｐ）

2022.3期

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

1. Details of Consolidated Financial Results for FY21

(7) Consolidated Statements of Cash Flows
Items

FY21

FY20

(Results)(Results)

ChangeMillions of yen

Millions of yen

Millions of yen-9,305-4,387-4,917-43,558-54,819

11,261

31,79434,403-2,608Other current assets

1,440

11,573-10,132

Other current liabilities-7,5394,093-11,633

OthersCash flows from operating activites
Income before income taxes and minority interests

Depreciation and amortization

7,773

2,427

5,346

Income and other taxes paid

783

-2,065

2,849

Cash flows from investing activites-4,926-25,268

20,341

Purchase of tangible fixed assets-5,138-32,01326,875Purchase of intangible fixed assets-317-1,7081,390

Investment securities

-699

3,179

-3,878Others

1,228

5,274

-4,046

Cash flows from financing activites-9,03578,228-87,263

Short-term borrowings

-100

400

-500

Long-term loans payable

6,933

17,602-10,669

Proceeds from issuance of bonds

450

4,105

-3,655

Redemption of convertible bonds-15,000--15,000

Proceeds from issuance of shares-

41,135-41,135

Proceeds from sales of treasury shares-

15,426-15,426

Dividends payment

-

-812

812

-1,318370-1,689Others

40

-13

53

Increase (decrease) in cash and cash equivalents-23,226

48,559-71,785

Cash and cash equivalents at beginning of period

120,355

71,79548,55997,128120,355-23,226

Effect of exchange rate change on cash and cash equivalents

Cash and cash equivalents at end of period

37

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

2. Details of Consolidated Financial Forecast for FY22(1) Consolidated Financial Forecast for FY22
FY22（Forecast）
Items

FY21 (Results)

Amount affected

Ratio

Amount affected

Ratio

due to TIAT

Changedue to TIAT

consolidation

Rate of
Changeconsolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen

Millions of yen％

105,600

100.0-2,00057,057100.0-6,88548,542

85.1

Facilities management60,60057.4-3,30040,02970.1-8,913

20,57051.4

Merchandise sales

37,000

35.0

1,300

13,174

23.1

2,023

23,825

180.8

Food and beverage

8,000

7.6

-

3,852

6.8

4

4,147

107.6

26,60025.2

10,60418.6

15,995150.8

22,300

21.1

7,635

13.4

14,664

192.1

Operating revenues

Cost of sales
Cost of sales of merchandise(Ratio)(4,300

Cost of sales of food and beverage(Ratio)Gross profit
Selling, general andadministrative expenses

Operating invome
Non-operating income/loss
Ordinary income
Extraordinary income/loss
Net income attributable toowners of parent

60.3％)((

58.0％)

2,968

4.1

53.8％)(( 2.3P)

1,331

5.2

77.0％)

44.9( -23.2P)

79,00074.8

46,453

81.4

32,54670.1

95,60090.5

87,709

153.7

7,890

9.0

-16,600-15.7-41,255-72.3

24,655--1,500-1.4-2,605

-4.6

1,105

-

-18,100-17.1-43,861-76.9

25,761

-

0

0.0

302

0.5

-302

-100

-5,700-5.4-25,217-44.2

19,517--21,400-24,900-9,800-29,162-33,735-16,821* Ratio: Cost of sales of merchandise / Operating revenues of merchandise sales
Ratio: Cost of sales of food and beverage / Operating revenues of food and beverage

38

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

2. Details of Consolidated Financial Forecast for FY22(2) Forecast of Operating Revenues by Segment(Millions of yen)

Full Year
Items

FY22
（Forecast）

Amount affected

FY21

due to TIAT

(Results)

Amount affected
due to TIAT

ChangeRate of
Change (%)

consolidation

consolidation

60,600-3,30040,029-8,913

20,57051.4

Rent revenues

20,000-3,20018,543-3,993

1,456

7.9

Facility user charges revenues

27,5006,700

10,5391,498

16,960160.9

Other revenues

13,100-6,80010,946-6,418

2,153

19.7

Merchandise sales

37,0001,300

13,174

2,023

23,825

180.8

Domestic terminal stores

10,500

-

5,166

-

5,333

103.2

International terminal stores

15,400

8,200

4,242

1,328

11,157

263.0

Other sales

11,100-6,900

3,765

694

7,334

194.8

8,000

-

3,852

4

4,147

107.6

Sales from restaurants

5,800

-

2,790

4

3,009

107.9

Sales from in-flight meals

1,900

-

730

-

1,169

160.2

300

-

332

0

-32

-9.7

Facilities management

Food and beverage

Other sales

39

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

2. Details of Consolidated Financial Forecast for FY22(3) Financial Forecast by Segment(i) Facilities management
FY22（Forecast）
Items

FY21 (Results)

Amount affected

Ratio

Amount affected

Ratio

due to TIAT
consolidation

Changedue to TIAT

Rate of
Changeconsolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen

Millions of yen％

Rent revenues

20,00031.2-3,20018,54344.1-3,993

1,456

7.9

Facility user charges revenues

27,500

42.9

6,700

10,539

25.1

1,498

16,960160.9

Other revenues

13,10020.4-6,80010,94626.1-6,418

2,153

19.7

Subtotal

60,60094.5-3,30040,02995.3-8,913

20,570

51.4

3,500

5.5

1,200

1,982

4.7

896

1,517

76.6

64,100100.0-2,10042,012100.0-8,01722,087

52.6

Operating expenses

71,400111.4

17,40066,876159.2

17,4094,523

6.8

Operating income-7,300-11.4-19,500-24,863-59.2-25,426

17,563-

Sales to external customers

Intersegment sales
Total(Ratio)(・Rent revenues:
・Facility user charges revenues:
・Other revenues:-11.4％)( -59.2P)( 47.8P)

Increase in revenue from leased space due to a reduction in the range, etc.
of rent reductions or exemptions, and increase in commission rent
Increase in fees for use of passenger facilities for domestic flights
Increase in fees for use of passenger facilities for international flights
Increase in revenue from parking fees, paid airport lounges, etc.
for domestic terminal
Increase in revenue from parking fees, paid airport lounges, etc.
for international terminal.

40+ 1.4 billion+11.5 billion+ 4.5 billion+ 1.7 billion+ 0.4 billion

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

2. Details of Consolidated Financial Forecast for FY22(3) Financial Forecast by Segment(ii) Merchandise sales
FY22（Forecast）
Items

FY21 (Results)

Amount affected

Ratio

Amount affected

Ratio

due to TIAT
consolidation

Changedue to TIAT

Rate of
Changeconsolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen

Millions of yen％

Domestic terminal stores

10,500

27.7

-

5,166

37.1

-

5,333

103.2

International terminal stores

15,400

40.6

8,200

4,242

30.4

1,328

11,157

263.0

Other salees

11,10029.3-6,900

3,765

27.0

694

7,334

194.8

37,000

97.6

1,300

13,174

94.5

2,023

23,825

180.8

900

2.4

600

769

5.5

452

130

17.0

37,900

100.0

1,900

13,944

100.0

2,475

23,955171.8

38,200

100.8

1,600

20,078

144.0

3,945

18,121

90.3

-300

-0.8

300

-6,134-44.0-1,4695,834-

Sales to external customers

SubtotalIntersegment sales
Total
Operating expenses
Operating income(Ratio)(・Domestic terminal stores:
・International terminal stores:
・Other sales:-0.8％)( -44.0P)( 43.2P)

Increase in sales of directly managed stores, etc. at Haneda domestic terminal
Increase in sales of directly managed stores, etc. at Haneda international terminal
Increase in sales of directly managed stores at Narita Airport
Increase in wholesale sales to other airports

41+ 5.3 billion+ 7.7 billion+ 3.0 billion+ 7.0 billion

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

2. Details of Consolidated Financial Forecast for FY22(3) Financial Forecast by Segment(iii) Food and beverage

FY22（Forecast）
Items

FY21 (Results)

Amount affected

Ratio

Amount affected

Ratio

due to TIAT
consolidation

Changedue to TIAT

Rate of
Changeconsolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen

Millions of yen％

Sales from restaurants

5,800

66.7

-

2,790

60.0

4

3,009

107.9

Sales from in-flight meals

1,900

21.8

-

730

15.7

-

1,169

160.2

300

3.4

-

332

7.1

-

-32

-9.7

8,000

92.0

-

3,852

82.9

4

4,147

107.6

700

8.0

-

796

17.1

-

-96

-12.1

8,700

100.0

-

4,649

100.0

4

4,050

87.1

Operating expenses

9,700

111.5

100

7,741

166.5

77

1,958

25.3

Operating income-1,000

-11.5

-100

-3,091

-66.5

-73

2,091

-

Sales to external customers

Other salees
SubtotalIntersegment sales
Total(Ratio)・Sales from restaurants:
・Sales from in-flight meals:(-11.5％)( -66.5P)

Increase in sales at domestic flight restaurants
Increase in sales to client airlines42( 55.0P)+ 2.9 billion+ 1.1 billion

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

3. Other Information(1) Capital Expenditure and Depreciation Expenses
FY17(Results)

FY18(Results)

FY19(Results)

FY20(Results)

FY21(Results)

FY22(Forecast)Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Capital expenditure

27,88557,55972,613

8,494

4,738

15,000Depreciation expenses

10,806

24,63427,80734,31031,71529,000Items

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

• Breakdown of Major Capital Expenditures
FY21 (Results)

FY22 (Forecast)Terminal 1 and 2 expansion¥0.6 billion

Terminal 1 and 2 expansion¥6.0 billion

Repair and upgrade of various equipment and facilities¥0.6 billion

Repair and upgrade of various equipment and facilities¥3.0 billion

Upgrade of crime prevention/disaster-readiness equipment¥0.3 billion

Upgrade of crime prevention/disaster-readiness equipment¥2.0 billion

Store renovation work, etc.

¥1.0 billion(TIAT investment amount¥1.0 billion)(TIAT investment amount¥2.8 billion)

・Breakdown of main depreciation expenses

FY17(Results)

FY18(Results)

FY19(Results)

FY20(Results)

FY21(Results)

FY22(Forecast)Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Terminal 1

4,300

4,100

4,700

4,500

3,800

3,400

Terminal 2

3,800

3,800

5,900

11,80010,400

9,300

-

9,500

10,200

11,200

11,10010,400

300

300

700

600

500

400

TIAT
P4 Parking

43

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

3. Other Information(2) Changes in Operating Revenues/Ordinary Income/Cash Flows

1,500

Billionsof yen400

COVID-19 pandemic

H1N1 influenza outbreak

The additional Terminal 3 extension
started operation (Dec. 2019)
Terminal 2 International facilities
started operation (Mar. 2020)

Subsidiary consolidationof TIAT (Apr. 2018)200

The extended part ofHaneda Airport Terminal 2
and Terminal 3 started
operation (Oct. 2010)

Haneda Airport Terminal 2
started operation (Dec. 2004)

Haneda Airport Terminal 1
started operation (Sep. 1993)

Great East Japan Earthquake

Chubu International
Airport opened

Y2K task

2,000

Hikes in the price of
crude oilFinancial crisis being
triggered by the US(right) Ordinary income (forecast)

Iraq war(right) Ordinary income (results)

SARS outbreak(right) Cash flows (forecast)

9-11 Terrorist Attack in the US(right) Cash flows (results)

Financial realignment(left) Operating revenues (forecast)

Voluntary closure of
Yamaichi Securities

2,500

Narita Airport Terminal 2
started operation

3,000(left) Operating revenues (results)

Kansai International
Airport opened

Billionsof yen0-200

Terminal 3 extension
started operation(Mar. 2014)

1,000

-400
500

0
90

91

92

93

94

95

96

97

98

99

00

01

02

03

04

05

06

07

08

09

10

11

12

13

14

15

16

17

18

19

20

←

→

21

22

-600

Results Forecast

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

April 1, 2021 to March 31, 2022 (FY21)

Reference Material
1. Outline of Japan Airport Terminal Group
2. Summary of Tokyo International Airport (Haneda)* This document has been translated from the Japanese original, for reference purposes only.
If there is any discrepancy between this translated document and the Japanese original,
the original shall prevail.

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

1. Outline of Japan Airport Terminal Group(1) The company’s position at Haneda Airport(comparison with other major airports in Japan)
AirportHanada Airport(Tokyo International Airport)

Category

Responsible and managedby national government

Control

Chubu Centrair
International Airport

KansaiInternational
AirportItami Airport(OsakaInternational
Airport)Responsible and managed by each airport comparnyNational government(Minister of Land, Infrastructure, Transport and Tourism)

facilities

Airportfacilities(Basic facilities)
Runways
Taxiways

NaritaInternational
AirportNational government(Minister of Land, Infrastructure,
Transport and Tourism)

Aprons
Passenger handlingfacilities(Passenger terminalbuildings)

Domestic terminal：Japan Airport
Terminal Co., Ltd. (JAT)International terminal：Tokyo
International Air Terminal Corp. (TIAT)

Shareholder
composition

Private corporations, etc. : 100％

[Owner]
New Kansai International Airport
Company, Ltd.
Narita International
Airport
Corporation

Central Japan
International Airport
Co., Ltd.

Outsourced[Operator]
Kansai Airports Co., Ltd.

National government : 100％

Private corporations, etc. : 50％
National government : 40％
Local government : 10％[Owner]National government : 100％
[Operator]
Private corporations, etc. : 100％

Source: Prepared by the company based on information on the websites of Ministry of Land, Infrastrucure, Transport and Tourism and the respective companies.

(Reference) Basic position of passenger terminal building companies⚫ Operators of the airport facilities
Runways, taxiways and aprons:
Installed and managed by national or local governments, or Narita, New Kansai, Central Japan airport companies.
Passenger and cargo handling facilities: Constructed, owned, managed and operated by private corporations, third sector bodies, airport companies, etc.
Maintenance facilities:
Constructed, owned, and managed by private corporations or airline companies
Both JAT and TIAT have been designated as Airport Facilities Operators* by the Minister of Land, Infrastructure, Transport and Tourism pursuant to Article 15,
Paragraph 1 of the Airport Act.
* Airport Facilities Operator is an enterprise that constructs or manages airport facilities (passenger or cargo handling facilities or aircraft refueling facilities
necessary for an airport to perform its functions).
⚫ Relationship with airline companies: JAT and TIAT lease facilities such as check-in counters and offices.
⚫ Relationship with merchandise stores, restaurants, and service stores: JAT and TIAT operate their own stores, or lease store/office space to the tenants such as
airline-related companies. Those companies need filings to operate sales at the airports.

46

1. Outline of Japan Airport Terminal Group(2) Business Details
A company responsible for construction, maintenance and operation of Haneda Airport passenger terminals
Terminal 2■ Terminal 1■ Terminal 2■ Terminal 3■ Operating Entity

Terminal 1・ Domestic passenger terminals: Japan
Airport Terminal Co., Ltd. (JAT)・ Construction, management, and operation ofterminal buildings
・ Real estate leasing (offices, stores and otherspaces for airline companies and airport-based
businesses)
・ Merchandise sales (duty-free stores, others)
・ Food and beverage services
Terminal 3・ Passenger services
・ Preparation/sales of in-flight meals
・ Management of parking lots

・ International passenger terminal: Tokyo
International Air Terminal Corporation(TIAT)
・ The international passenger terminal isoperated as a private finance initiative(PFI) project (2008-2038).
・ The terminal was built and is managed
and operated by TIAT (consolidated
subsidiary of JAT since 2018), establishedthrough investment with airline companies
and other entities, centering on JAT.

Offering high-quality services at domestic airports Narita, Kansai and Chubu, and at airports outside of Japan, leveraging
expertise honed at Haneda Airport.
Narita International
Airport• Merchandise sales (duty-free stores, etc.)• Wholesale, commissioned management of
duty-free stores• Food and beverage service• Travel accident insurance agency business• Preparation/sales of in-flight meals

Kansai and Chubu Centrair
International Airport

Domestic Airports
throughout Japan• Merchandise sales (duty-free stores)• Wholesale• Merchandise sales (Naha)• Wholesale• Operation of Kumamoto Airport

47

At overseas Airport• Merchandise sales at Chengdu Shuangliu
International Airport• Operation of Palau International Airport• Operation of New Ulaanbaatar Airport

1. Outline of Japan Airport Terminal Group(3) Basic Philosophy and Management Policy
Basic philosophy“Balancing Public Good and Business Success”
Passenger terminal buildings serve as public infrastructure of enormous importance.
Utilizing private-sector business approaches to properly achieve this highly public mission is
our basic management philosophy.

Management policy● Establish absolute safety in passenger terminals● Operate passenger terminals for the benefit of customers(convenience, comfort and functionality)● Operate passenger terminals stably and efficiently● Reinforce corporate structure and improve the combined competence of the Group companies
Our Business Model Since Establishment
・Since its establishment, Japan Airport Terminal has optimally leveraged private-sector knowledge and financing to build, manageand operate passenger terminal buildings, which have enormously important public value, as a purely private enterprise spanningnearly 60 years.
・Based on the Japanese government’s policies governing airports and airlines, Japan Airport Terminal is engaged in facilities
installation, including expansion, the provision of appropriate services, and measures to ensure the safety and stability ofpassenger terminal buildings.
・Japan Airline Terminal contributes to the development of the airline industry, guided by a consistent dedication to sharedprosperity with airline companies.

48

1. Outline of Japan Airport Terminal Group(4) 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 to build the terminal with private funds (cabinet
approved), and in 1953 the Company was founded with the cooperation of major institutions (with capital 150 million yen), and the terminal was opened in May 1955.
1953(July)

Established with private sector capital of 150 million yen.

1955

(May)

The terminal building opened and launched operation.

1964(April)Separate domestic arrival terminal building completed in time with the Tokyo Olympic Games.

(October)Duty-free sales operations commenced.
Commenced merchandise sales including duty-free articles, hotel reservation services and other

1978

(May)

1990

(February)

Listed on second section of the Tokyo Stock Exchange.

1991(September)

Listed on first section of the Tokyo Stock Exchange.

1993(September)

Haneda Airport Terminal 1 (Big Bird) started operation.

1994(September)

1998(March)The provisional international terminal at Haneda Airport started operation.

2001(February)

International charter flights commenced at Haneda Airport.

2002(April)2003(November)International charter flights between Haneda and Seoul (Gimpo) commenced.

2004(December)

Terminal 2 at Haneda Airport started operation.

2005(February)

Wholesale of duty-free goods commenced with the opening of Central Japan International Airport.

2006(June)

Established the special purpose company (SPC) “Tokyo International Air Terminal Corporation" (TIAT).

2007(February)South Pier in Terminal 2 at Haneda Airport started operation.

(September)International charter flights between Haneda and Shanghai (Hongqiao Airport) commenced.

2008(April)International charter flights between Haneda and Hong Kong commenced (during specific hours).

2009(April)Designated as an Airport Facilities Operator under the revised Airport Act.

(October)International charter flights between Haneda and Beijing commenced.

operations with the opening of Narita International Airport.

Launched commissioned operation of duty-free stores and wholesale of duty-free goods accompanying
opening of the Kansai Airport.

Terminated periodic international flights from Haneda Airport (transfer of China Airlines and the EVA

Haneda Airport Terminal when opened

Airways to Narita).

Haneda Airport Terminal 1

The extended part of Terminal 2, Haneda Airport started operation.

2010(October)

2011(November)

Renewal of Terminal 1 building, Haneda Airport completed.

2013(April)The extended part of South Pier in Terminal 2 at Haneda Airport started operation.

2014(March)The Passenger Terminal 3 extension, Haneda Airport started operation (TIAT).

2018(April)Subsidiary consolidation of Tokyo International Air Terminal Corporation (TIAT).

2019(December)

The additional Passenger Terminal 3 extension, Haneda Airport started operation (TIAT).

2020(March)The international flight facilities in Terminal 2, Haneda Airport started operation.

The Passenger Terminal 3, Haneda Airport started operation (TIAT).

49

Haneda Airport Terminal 2

1. Outline of Japan Airport Terminal Group
Facilities management operations(5) Group Companies◼ Tokyo International Air Terminal Co., Ltd.
Management and operation of international passenger
terminal building.
◼ BIG WING Co., Ltd.
Advertising agency business, event planning andmanagement◼ Japan Airport Techno Co., Ltd.
Installation, upkeep and management of passenger terminal
facilities and environmental and sanitation management offacilities◼ Haneda Airport Security Co., Ltd.
Security services and parking lot service management◼ Haneda Passenger Service Co., Ltd.
Passenger services operations◼ Japan Airport Ground Handling Co., Ltd.
Passenger handling services◼ Haneda Future Research Institute Inc.
Further improvement of value in existing airport operation,
development of new business model, etc.
◼ Sakura Shokai Co., Ltd.
Airport cleaning center management and waste treatment

Facilities
management
operations
Total:
19 companies

Food andbeverage
operations

Merchandise
sales
operations

Food and beverage operations

8 companies

4 companies

Merchandise sales operations

7 companies◼ Japan Duty Free Fa-So-La Isetan Mitsukoshi Co., Ltd.
Development of airport duty-free stores in urban areas◼ International Trade Inc.
Wholesale business and merchandise sales to Japanese airport
retail stores and other clients◼ Japan Airport Logitem Co., Ltd.
Merchandise transport, delivery and inspection◼ Air BIC INC. Retail sales of home appliances◼ Haneda Airport Enterprise Co., Ltd.
Store operation business◼ Japan Airport Terminal Trading (Chengdu) Co., Ltd.
Merchandise sales and wholesale business at Chengdu
Shuangliu International Airport◼ Hamashin Co., Ltd.
Wholesale and retail sales of marine products◼ Tokyo Airport Restaurant Co., Ltd.
Restaurant business, light meal production and sales,
paid waiting room management◼ Cosmo Enterprise Co., Ltd.
Preparation and loading of in-flight meals, production
and sale of frozen food
◼ LANI KE AKUA PACIFIC, INC.
Restaurant business◼ KAIKAN KAIHATSU Co., Ltd.
Restaurant business, management and operation of
lodging, halls and meeting rooms50

1. Outline of Japan Airport Terminal Group(6) Revenue Composition/Details by Segment, Composition of Sales
Category

Revenue details

Rent revenue

Facilities
management

Expenses details

Office lease (fixed rent); store lease(fixed rent + percentage commission) at Haneda domestic and international terminals

Facility user charges Fees for use of passenger facilities (Haneda domestic and international flights: PSFC),
revenueinternational terminal PBB user charges, others

Depreciation; water, heating, energy expenses;
repairs expenses; lease fee (such as national property
usage fee); taxes and public charges; cleaning
expenses; outsourcing fees

operations
Parking fee revenue, advertising revenue and sales from paid airport lounge at Haneda Lease fee (such as national property usage fee);
OthersStores at domestic
terminal

Stores at
Merchandiseinternationalsales

terminal

operations

domestic and international terminals, Hotel business income, Revenue fromtaxes and public charges (fixed asset tax);

subcontracted work

outsourcing fees

Merchandise sales for stores at Haneda domestic terminal stores

Cost of sales; supply expenses

Merchandise sales for stores at Haneda international terminal stores; Merchandise
sales from airport duty-free stores, etc. at Narita International Airport, Kansai

Cost of sales; supply expenses; percentage ofInternational Airport and Chubu Centrair International Airport, urban duty-free store

business; agent service fee

sales

Wholesale sales to Narita International Airport, Kansai International Airport, andOthersChubu Centrair International Airport; Commissioned management revenues at Narita

Cost of sales; agent service fee

International Airport and Kansai International Airport

Restaurants

Restraurant sales at Haneda Airport domestic and international terminal and Narita

Food expenses (cost of sales for food and beverage);

International Airport

percentage of business; outsourcing costs

Production and sales of in-flight meals

Food expenses (cost of sales for food and beverage)

Food andbeverage

In-flight meals

operations
OthersIncome from catering airline lounges, Wholesale of products such as frozen foods, box Food expenses (cost of sales for food and beverage);meals, etc.

outsourcing costs51

1. Outline of Japan Airport Terminal Group(7) Changes in Capital Investment
Fisical Year

Investment (at timeof construction)

Details

1955

Construction of former terminal building\1.0 billion

1963

Major expansion and renovation (Measures for jet aircraft and the Olympics)\3.5 billion

1970

Construction for accommodating jumbo jets (domestic and international terminal buildings)\3.2 billion

1977

Construction for disaster safety measures\8.0 billion

1978～1981

Construction to repurpose domestic terminal accompanying shift to international flights at Narita
Airport\11.5 billion

1984

Construction for domestic terminal redeployment\15.0 billion

1993

Construction to build Terminal 1 building and remove old terminal building\136.0 billion

1997

Terminal 1 building renovation (bus lounge expansion, new boarding stations)\2.0 billion

1998

Construction to build provisional international terminal building\1.5 billion

1999～2002

Renovation of Terminal 1 building (barrier-free measures)\3.4 billion

2002

Expansion and renovation of provisional international terminal building\1.0 billion

2004

Construction to build Terminal 2 building\67.0 billion

2004～2005

Renovation of Terminal 1 building (including marketplace revitalization)
Provisional international terminal building expansion and renovation\15.0 billion\0.6 billion

2006

Construction for expansion of Terminal 2 building (Second Stage of the Plan)\11.5 billion

2007

Construction to build P4 simplified parking structure\2.0 billion

2007～2008

Provisional international terminal building expansion and renovation

2008～2010

Construction of Terminal 3 building and P5 parking [TIAT]
Terminal 2 building expansion (Third Stage of the Plan)
Construction to convert P4 parking lot to multi-story parking lot

2011

Terminal 1 building renovation (departure lobby, departure lounge, observation deck, etc.)\7.0 billion

2012～2014

Terminal 3 building expansion (expansion in 8 spots, lobby expansion, etc.) [TIAT]\70.0 billion

2013

Terminal 2 building expansion (Fourth Stage of the Plan) Expansion in 3 spots\7.6 billion

2017～2019

Terminal 2 building expansion (international flight facility, satellite, office space expansion, etc.)
Terminal 3 building expansion (expansion in 2 spots, lobby expansion, etc.) [TIAT]\74.0 billion\21.0 billion

2018～2019

Terminal 1 building renovation (basement, 1st floor arrival lobby interior modification, etc.)\3.6 billion\100.0 billion\19.0 billion\6.0 billion\4.7 billion
Total \595.1 billion52

1. Outline of Japan Airport Terminal Group(8) Summary of Tokyo International Air Terminal Corporation

8. Composition of Shareholders

1. Company Name Tokyo International Air Terminal Corporation
2. Date Founded

June 20, 2006

3. Headquarters Location
Haneda Airport, Ota-ku, TokyoJapan Airport Terminal Co., Ltd.

(51.00%)Japan Airlines Co., Ltd.

(16.87%)

ANA HOLDINGS INC.

(16.87%)

4. Capital

13,265 million yen

NARITA INTERNATIONAL AIRPORT CORPORATION(3.05%)

5. Businesses

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

TEPCO Energy Partner, Incorporated(2.37%)

SECOM CO., LTD.

(2.04%)

Katsuji Doi, President (Former Vice Presidentof Japan Airport Terminal Co., Ltd.)Tokyo Gas Co., Ltd.

(2.04%)

Keikyu Corporation(1.36%)TOKYO MONORAIL CO., LTD.

(1.36%)NTT DATA Corporation(1.02%)Development Bank of Japan Inc.

(0.68%)

Mizuho Bank, Ltd.

(0.68%)MUFG Bank, Ltd.

(0.68%)

6. Representative

7. Corporate Philosophy
As the gateway to the nation’s capital, Tokyo,
we will endeavor to continue providing
cutting-edge terminal facilities and services tocustomers from across the world and thus
contribute to the development of theinternational aviation network.

53

2. Summary of Tokyo International Airport (Haneda)(1) Location Map■ Total area of airport■ Apron1,516 haTotal area/268 ha

Spots/232■ Runway
・Runway A

3,000 m×60 m

１・Runway B

2,500 m×60 m

2・Runway C

3,360 m×60 m

3・Runway D

2,500 m×60 m

43

Runway capacity Approx. 486,000
flights/year■ Terminal building

・Terminal 1

７

Floor space/approx. 292,400 ㎡
Spots (stationary boarding bridge
present)/24 locations
・Terminal 2

4

６

５

６

2

11

12

10

9

Floor space/approx. 340,000 ㎡
Spots (stationary boarding bridge
present)/23 locations
・Terminal 2 satellite

５７１

Floor space/approx. 11,600 ㎡
Spots (stationary boarding bridge
present)/3 locations
・Terminal 3

８８Floor space/approx. 268,000 ㎡
Spots (stationary boarding bridge
present)/20 locations

13

14■ Parking lot
・P1

Capacity/2,351 vehicles

９・P2

Capacity/2,315 vehicles

10

・P3

Capacity/2,449 vehicles

11

・P4

Capacity/3,087 vehicles

12

・P5

Capacity/2,910 vehicles

1３■ Haneda airport wharf

54

14

2. Summary of Tokyo International Airport (Haneda)(2) Comparison of Passenger Volume
Japan Airport Passenger Volume Ranking(2021 calendar year)

Global Airport Passenger Volume Ranking(2021 calendar year bulletin)

Airport

Code

Annual(thousand people)

1 Tokyo (Haneda)

HND

26,113 (25,391)

71

28.0

2

FukuokaFUK8,475 (8,453)

23

9.1

3

Sapporo(Chitose)

CTS

8,231 (8,230)

22

8.8

OKA

7,418 (7,414)

20

8.0

4 Okinawa (Naha)

Daily average(thousand people)

City/Airport

Share (%)

Code

Annual(thousand people)

1

Atlanta

ATL

75,7042

Dallas/Fort WorthDFW

62,465

3

DenverDEN

58,8284Chicago (O’hare)

ORD

54,0205

Los Angeles

LAX

48,007

6Charlotte

CLT43,302

7

OrlandoMCO

40,351

5

Osaka (Itami)ITM

6,769 (6,769)

18

7.3

6

Tokyo (Narita)

NRT4,845 (3,350)

13

5.2

7 Osaka (Kansai)

KIX

3,031 (2,814)

8

3.3

8 Nagoya (Chubu)NGO2,539 (2,500)

6

2.7

9

Kagoshima

KOJ2,429 (2,429)

6

2.6

8

Guangzhou

CAN

40,25910 Osaka (Kobe)

UKB

1,625 (1,625)

4

1.7

9

ChengduCTU

40,11710 Las Vegas

LAS

39,75478 other airports

21,659 (21,659)

23.3

Figures in parentheses are airport passenger volume for domestic flights.
Material: Aggregate statistics of airport usage within jurisdiction of East
Japan Civil Aviation Bureau and West Japan Civil Aviation Bureau

55

Source: ACI (Airports Council International) website

2. Summary of Tokyo International Airport (Haneda)(3) International Rating of the Haneda Airport Passenger Terminal
In an international rating by SKYTRAX, Haneda Airport:“Best Airports in Asia”

First time achievement in Japan“World’s Cleanest Airports”

Ranked 1st for the 6th consecutive year

“World’s Best Domestic Airports”

Ranked 1st for the 9th consecutive year

“World’s Best PRM/Accessible Facilities”

Ranked 1st for the 3rd consecutive year

“COVID-19 Airport Excellence Awards”

First time achievement in Japan“COVID-19 Airport Safety Rating”

Certified with the highest 5-star

Haneda Airport Passenger Terminals have become the award winner for “Best Airports in Asia” of the 2021
World Airport Awards conducted by the UK company, SKYTRAX, being the first airport in Japan to ever receive
this award.
In addition to achieving the “Best Airports in Asia” for the first time, Haneda Airport has also become runner-up
for “World’s Best Airports” category for the 3rd consecutive year. Moreover, Haneda Airport have won the“World’s Cleanest Airports” award for the 6th consecutive year (awarded for the 8th time) praised for its
cleanliness and comfort. In the “World’s Best Domestic Airports” category, Haneda Airport has won the award forthe 9th time consecutively for its convenience and comfort of the domestic facilities. Our initiatives to assist theelderly and passengers with disabilities have been evaluated to be the “World’s Best PRM / Accessible Facilities”
category for the 3rd consecutive year.
In a new award category, Haneda Airport has been rated to be one of the “COVID-19 Airport ExcellenceAwards” as well, for its measures to prevent from COVID-19 infection. Also, Haneda Airport has been certified
with the highest 5-Star COVID-19 Safety Rating.
Haneda Airport plays an important role being a hub airport for both domestic and international flights. As the
spread of the new coronavirus has been prolonged in many countries around the world, our group hopes for afast recovery from COVID-19 pandemic, and we will continue to work together to provide facilities and services
that are convenient, comfortable, and functional, with prioritizing safety for our customers.

56

Notes regarding projections
Items such as plans, targets, policies, strategies, decisions, financial forecasts,
future figures and monetary amounts 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 at the present time. Realizing these items entail
uncertainty and various risks.

This presentation material is not intended to solicit investments. We request
you to make own decision regarding investments.

Contact
Japan Airport Terminal Co., Ltd., Investor Relations Division
TEL: 03 (5757) 8409
FAX: 03 (5757) 8029
Email: ir@jat-co.com