April 1, 2016 to March 31, 2017 (FY16)

Earnings Presentation Material(May 19, 2017)* 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.
http://www.tokyo-airport-bldg.co.jp/

Contents
April 1, 2016 to March 31, 2017 (FY16)
Earnings Presentation Material

1. Review of Consolidated Financial Results for FY16
(1) Business Environment

P2(2) Consolidated Financial Results

P3

2. Consolidated Financial Forecast for FY17(1) Business Environment

P4(2) Consolidated Financial Forecast for FY17P5(3) Forecast of Operating Revenues by Segment

P6

3. Progress under the Medium-Term Business Plan
(1) Progress of Business Strategies

P7(2) Expand Business Domains that
Leverage Strengths and Diversify Earnings

P8(3) Pursue ‘Vision’ for Haneda Airport

P9(4) Redevelop Earnings Base and Establish Competitive Position

P 11(5) Revision of Numerical Forecasts

P 12Reference

P 15

Contents

JAPAN AIRPORT TERMINAL

Supplementary Material

Reference Material

1. Details of Consolidated Financial Results for FY16
(1) Changes in Passenger Volume(Haneda, Narita and Kansai)

P 18(2) Consolidated Financial Results for FY16P 19(3) Financial Results by Segment(i) Facilities management

P 20(ii) Merchandise sales

P 21(iii) Food and beverage

P 22(4) Breakdown of Selling, General and
Administrative Expenses

P 23(5) Changes in Non-Operating Income/Expenses
and Extraordinary Income/Loss

P 24(6) Consolidated Balance Sheets

P 25(7) Consolidated Statements of Cash Flows

P 26[Reference] Purchasing Trends of Non-Japanese
Passengers by Nationality

P 27

2. Details of Consolidated Financial Forecast for FY17(1) Consolidated Financial Forecast for FY17P 29(2) Financial Forecast by Segment(i) Facilities management

P 30(ii) Merchandise sales

P 31(iii) Food and beverage

P 32

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

P 33(2) Changes in Operating Revenues/Ordinary
Income/Cash FlowsP 34

1. Outline of the Company(1) Business Details

P 36(2) Basic Philosophy and Management Policy

P 37(3) Company History

P 38(4) Group Companies

P 39(5) Revenue Composition/Composition by Segment

P 40(6) Revenue Composition/Details by Segment

P 41(7) Revenue Composition by Region and Segment

P 42(8) Changes in Capital Investment

P 43

2. Summary of Tokyo International Airport (Haneda)(1) Location Map

P 44(2) Changes in Passenger Volume on Domestic andInternational Flights

P 45(3) Comparison of Passenger Volume

P 46(4) Domestic Destinations and Flights

P 47(5) International Destinations and Flights

P 48(6) Summary of Tokyo International Air
Terminal Corporation

P 49

Earnings Presentation Material

April 1, 2016 to March 31, 2017 (FY16)

1. Review of Consolidated Financial Results for FY16
2. Consolidated Financial Forecast for FY17
3. Progress under the Medium-Term Business Plan
(1) Progress of Business Strategies(2) Expand Business Domains that Leverage Strengths andDiversify Earnings(3) Pursue ‘Vision’ for Haneda Airport(4) Redevelop Earnings Base and Establish Competitive Position(5) Partial Revision of Numerical Forecasts

1. Review of Consolidated Financial Results for FY16

JAPAN AIRPORTTERMINAL(1) Business Environment
Expansion in inbound travel demand to Japan and consumption trend changes among visitorsfrom China
Increase in Haneda international flights to and from China and the U.S.
Ongoing increase in passenger volume accompanying growth in inbound travel
Overall value of passenger consumption up 7.8%, but purchasing down 1.9%
Growth in Haneda international flights to and from China (first half) and the U.S. (second half)
After peaking in August, the exchange rate market switched from a strong to a weak yen

Business
Environment

Despite the impact of cancelled flights due to the Kumamoto earthquake, typhoons in August and snow inJanuary, growth in domestic and international connecting passengers and other factors lifted Haneda domestic
flights 5.2% year on year
Haneda international flights up 16.5% year on year, mainly atop growth in flights and expansion in inboundtravel to Japan from Asia
Number of passengers at Narita rose 4.4% year on year, mainly from increased flights from low-cost carriers(LCCs) and expansion in inbound travel demand to Japan
Number of passengers for Kansai international flights increased 10.8% year on year, primarily atop growth in
LCC flights mainly to and from Asia

Number of
Passengers(YoY comparison)

The number of passengers (YoY comparison)
Airport

FY16 1H(%)

FY16 2H (%)

FY16 (%)

No. ofpassengers(10 thousands)

Revised forecast

Rate of(10 thousands)change (%)

Haneda – Domestic

4.3

6.1

( 0.7 )

5.2

6,581

6,379

3.2

Haneda – International

20.1

13.3

( 11.1 )

16.5

1,565

1,549

1.0

Total Haneda

7.0

7.5

( 2.7 )

7.2

8,146

7,928

2.8

Narita3.8

4.9( 4.2 )

4.4

3,241

3,230

0.3

Kansai13.1

8.6( 9.6 )

10.8

1,914

1,922

-0.4

* Figures in parentheses are revised forecasts for the second half of the year.
21. Review of Consolidated Financial Results for FY16

JAPAN AIRPORTTERMINAL(2) Consolidated Financial Results
Operating revenues up slightly reflecting facilities management and food and beverage growth
However, earnings declined due to lower duty-free sales in the merchandise sales in the first halfof year○Differences from previous fiscal year results
Sales growth in facility management operations, reflecting increased leasing to airline companies and growth incommissioned management fees accompanying remodeling work at the Haneda International Terminal
Drastic decline in sales, in contrast to stellar performance in international terminal store sales and wholesale sales in
the first half of the previous year
Growth in food and beverage sales, reflecting an increase in new airline catering customers and more flights

Main Factors
BehindChanges○Differences from revised forecasts
Merchandise sales are also higher than revised targets, as the fall in per-unit purchases halted

Consolidated financial results for FY16
Items

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

1H
FY16

FY15

2H
Change

FY

FY16

FY15

-0.2

105.1

104.0

Change

FY16

FY15

1.0

204.9

204.1

RevisedChangeforecast*1

0.8

202.9
(

0.4)

( 53.4)((129.8)(1.2)(149.4)( -18.3)

1.3)( 18.6)(0.2)( 18.2)(( 26.6)( 25.0)(1.6)( 28.2)( 27.8)(0.4)( 54.9)( 52.8)(2.0)( 54.5)(Merchandise sales)( 63.7)( 66.4)( -2.7)( 67.3)( 67.2)(0.1)(131.0)(133.7)( -2.6)(Food and beverage)

(

(

(

(

(

(

0.4)

( 18.8)( 17.5)

(

0.8)

9.4)

8.9)

Difference

＊2

-16.0

(Facilities m anagem ent)

8.5)

Forecast

221.0

100.0

9.4)

Business Plan

2.0

99.8

Operating revenues

Medium-Term

Difference

1.5)

0.6)

Operating income

4.4

6.5

-2.1

5.0

4.7

0.3

9.4

11.3

-1.8

8.8

0.6

12.9

-3.4

Ordinary income

6.2

7.7

-1.4

6.6

5.9

0.6

12.8

13.6

-0.8

11.4

1.4

15.6

-2.7

Net income attributable to

4.2

5.2

-0.9

2.5

3.5

-1.0

6.8

8.8

-1.9

7.2

-0.3

11.1

-4.2

Annual dividend

¥16.0

¥15.0

¥17.0

¥18.0

¥33.0

¥33.0

¥32.0

Payout ratio

31.0%

23.1%

38.9%

30.2%

36.1%

Capital expenditure

6.8

8.3

Depreciation expenses

11.6

11.2

EBITDA

21.1

22.5

owners of parent*1 Financial forecast announced in October 2016.
*2 Income and expense forecasts announced in May 2016.

3

Japan Airport Terminal Co., Ltd.

2. Consolidated Financial Forecast for FY17(1) Business Environment
Growth in Haneda international flights to and from the U.S. and ongoing increase in inboundtravelers
Decline in per-unit purchases in merchandise sales will bottom out

Business
Environment

Growth in passenger volume itself will continue, in step with inbound growth
While decline in per-unit purchases will stop, as passengers from China move from consumption of goods
to services, sales initiatives must be enhanced in response to this trend
Exchange rate trends require close attention

Number of
Passengers(YoY comparison)

Haneda domestic flights up 1.0% year on year
Haneda international flights up 6.0%, reflecting full-year effect of increased flights to and from the U.S.
and anticipated growth in inbound passengers
Flights at Narita and Kansai Airport up 4.0% and 4.5%, respectively, mainly on anticipated growth in LCC
flights

The number of passengers forecast for FY17 (YoY comparison)
Airport

FY17 1H

FY17 2H

FY17

FY17 (Forecast)

FY16 (Results)

(%)

(%)

(%)

(10 thousands)(10 thousands)

Haneda – Domestic

1.0

1.0

1.0

6,647

6,581

Haneda – International

6.9

5.2

6.0

1,659

1,565

Total Haneda

2.1

1.8

2.0

8,307

8,146

Narita

2.7

5.3

4.0

3,369

3,241

Kansai

4.5

4.5

4.5

2,000

1,914

4

JAPAN AIR TERMINAL

2. Consolidated Financial Forecast for FY17(2) Consolidated Financial Forecast for FY17

In addition to addressing growth in inbound passengers, steady progress on measures to utilize
vacant space and reduce costs
For the facilities management, growth in office space rentals, advertising and event revenue, lounge revenue,
international terminal outdoor advertising revenue and international flight terminal maintenance and upkeep
operations
For urban duty free, higher sales from growth in visitors from China, alongside more robust sales promotion
measures
For the merchandise sales, higher wholesale sales and income from contract work to manage facilities from growth
in international passenger volume at Haneda; growth from increased passenger volume at Narita; and lower sales at
Kansai Airport due to change over to contract management and relocation or leasing for 7 directly managed stores

Main Factors
BehindChanges
Financial forecast for FY17
Items

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

FY17

FY16

(Forecast)(Results)

Rate of change

Change(%)

Operating revenues

208.6

204.9

3.6

1.8

Operating income

10.5

9.4

1.0

10.6

Ordinary income

12.8

12.8

-0.0

-0.3

owners of parent

8.9

6.8

2.0

29.2

Capital expenditures

32.4

6.8

Depreciation expenses

10.7

11.6

EBITDA

21.2

21.1

Annual dividend

¥36.0

¥33.0

Payout ratio

32.9%

38.9%

Net income attributable to5Japan Airport Terminal Co., Ltd.

2. Consolidated Financial Forecast for FY17(3) Forecast of Operating Revenues by Segment
Note: Figures shown are rounded down to the nearest 100 million yen. (Billions of yen)

Items

FY17

FY16

(Forecast)(Results)

Rate of change

Change

(%)

55.8

54.9

0.8

1.5

13.2

13.0

0.1

0.9

revenue

18.3

18.1

0.1

0.6

Other revenues

24.3

23.7

0.5

2.5

Merchandise sales

134.1

131.0

3.0

2.3

34.3

33.8

0.4

1.4

terminal stores

32.2

32.9

-0.7

-2.4

Other sales

67.6

64.2

3.3

5.2

Food and beverage

18.7

18.8

-0.1

-1.0

Sales from restaurants

9.5

9.6

-0.1

-1.6

Sales from in-flight meals

6.4

6.4

-0.0

-0.1

Other sales

2.8

2.8

-0.0

-0.6

Facilities management
Rent revenue
Facility user charges

Sales at domestic
terminal stores
Sales at international* Main items of “other revenues” for each segment• Facilities management: Income from contract work to manage facility maintenance, income from hotel business, income fromadvertising and lounges, income from parking lots, etc.
• Merchandise sales:
Income from wholesaling (other duty-free stores), etc.
• Food and beverage:
Income from contract work to run TIAT restaurants, income from catering airline lounges, etc.

6

3. Progress under the Medium-Term Business Plan
(1) Progress of Business Strategies“To be a World Best Airport 2020”“Create business and earnings opportunities in pursuit of our‘Vision’ for Haneda Airport and redevelop earnings base bystaking out a competitive position”

Three Core Strategies
Expand Business Domains that
Leverage Strengths andDiversify Earnings• Full-year running for
urban duty-free stores• Participate in bids fordomestic and overseas
airport operation rights• Development of joint
business with BIC CAMERA(Air BIC)• Overseas airport consulting(Beijing Airport)• External sale of duty-freesystemRedevelop Earnings Baseand Establish Competitive
Position

Pursue ‘Vision’ for Haneda Airport• Promotion of domestic/international shared
use terminal plan (T2 internationalization)• Acquire SKYTRAX 5 Star rating for third
consecutive year
• Ranked second among SKYTRAX World's Best
Airports• Develop and adopt robotics and othercutting-edge technologies• Prepare environment welcoming to non-Japanesevisitors (luxury toilets)• Commercialize the ground handling business• Launch business mall
Development• Airport lounge renovation• Review the merchandise sales
business earnings structure• Reduce fixed costs• Streamline and review
unprofitable operations• Redevelop commercial
facilities• Build the airport logistics
business

Foundation for Implementation

Realignment and Enhancement of Organization, Human Capital and GovernanceOperational reform and slimmerorganization

Bottom-up training and value
creation circles

7

More robust dialogue with investors
Japan Airport Terminal Co., Ltd.

3. Progress under the Medium-Term Business Plan
(2) Expand Business Domains that Leverage Strengths and Diversify Earnings
In-depth Measures for the Urban Duty-free Stores■ Results and Projections

FY20¥1.0 billion
Operating revenues(billion yen)

FY19

Operating income¥1.0 billion(billion yen)
Per-unit purchases

FY18

FY17

(thousand yen)¥0.5 billion

No. of purchasing
custom ers (people/day)Eliminate losses¥2.0 billion
Sales strategy
Measures

FY16

FY17

FY18

FY19

FY20

(Results)(Plan)(Plan)(Plan)(Plan)

5.1

7.0

7.5

8.5

9.5

-1.8

-0.0

0.0

0.2

0.4

33

33

33

33

33

420

572

604

712

783

Impairment loss
Sales linkages
Shareholder support-¥2.0 billion-¥1.0 billion

Respond to inbound consumption style changes: “service consumption” and “shift to everyday goods”

Operatingrevenues• Same-day delivery• Introduce consumption taxfree sales areas• Open dropoff areas at otherairports• No. of purchasing customers: Strengthen tie-ups with travel agencies
and airlines• Develop and adopt limited-edition JDF GINZA merchandise• Large-scale MD revision, including replacement of cosmetic brands• Per-unit purchases: Pursue measures focused on wealthy customers tohalt per-unit fallStrengthen management monitoring
Japan Airport Terminal
Co., Ltd.

Narita International
Airport Corporation8

Isetan Mitsukoshi
Holdings Ltd.

Operatingexpenses3. Progress under the Medium-Term Business Plan
(3) Pursue ‘Vision’ for Haneda Airport(1) Terminal building upgrade accompanying Haneda Airport’s enhanced functionality (Overall view)
Annual departures/
arrivals (daytime hours)

International
flight zone

Domestic flightzone

Approx. 78,000
flights
Approx. 16 million
peopleApprox. 21,000
flights
Approx. 4 million
people*210 flights/day

54 flights/day*

25 flights/day

3 flights/day(early morning)

12 flights

5 flights

15 flights

6 flights*

Annual passengers (daytime hours)
DaytimeLatenight/earlymorning
Departures

Flights handled
Peak time
departures/arrivals

Arrivals

Domestic
flight zone

* Estimated by the Company based on data from the Ministry of Land, Infrastructure,
Transport and Tourism (Japan).

Details of UpgradeUpgrade target

International
flights terminal

Domestic flights
terminal 2

Embarkation
facility fordomestic flights

Placement
positionInternational
flights
Terminal

Terminal 2 south side

Domestic eastern
freight zone

Upgrade specifics• Addition of 2 new • Placements in 7 spots
spots(2 exclusive, 5 shared)• Expansion offor international flights
check-in counters• CIQ facility, duty-freeand baggage claim
store and other newsite
additions

Facility
maintainer

TIAT

Facility user

TIAT

Businessapplication

For international
travelersCommissioned
operations

Facility
management
Store management

今後のスケジュール■Schedule

JAT
TIAT
Japanese Government(CIQ portion)
For international
travelers
Facility management
Store management• Placement ofdomestic flightembarkation facility
with 6 spots

International
flight zone

JAT
JAT

International
Passenger Terminal

For domestic
travelers(Directly managed)

FY2017–FY2019: Facility preparation
Late March 2020: Come into service (Planned)

9Japan Airport Terminal Co., Ltd.

3. Progress under the Medium-Term Business Plan
(3) Pursue ‘Vision’ for Haneda Airport(2) Upgrade of domestic flights terminal 2 building (T2)
Business schematic for joint international anddomestic use of T2 south side
・Generate new business opportunities
Lease T2 international facilities (new revenue for
the Company)
Revitalize existing stores (new revenue for theCompany)・Expand existing business scale
Expand scale of facilities management(contracted work)
Expand scale of merchandise sales (contracted
management of duty-free stores)

Earnings Image from Opportunity Generationand Scale Expansion

Existing stores
revitalization

Facilities leasing

Earnings

creation
Merchandise
sales
Scale expansion

T2
internationalization
investment

Facilities
management *T2 international flight users: 4 million plus
Scale expansion *International flight framework: 60,000

flights + 39,000 flights = 99,000 flights(1.5 times higher)■Image of Income and Expense Structure
If TIAT invests

If JAT invests
JAT income/expenses

TIAT income/expenses

Overall business expense: Investmentof approx. 75 billion yen

Construction(T2 international section)

Lease fee

expenses* Total for international flight usage of T2 south side and domestic flight boarding facilities* Reasons for Investment by the Company(Assumptions)Physical difficulties faced in enlarging the current
international flight area further
Difficulties in achieving return on investment by theend of the contracted business period (2038) if TIAT
invests
TIAT's large interest burden from the PFI business↓
Improved convenience for travelers, definite return on
investment, preservation of TIAT business viability

Earnings frombusiness
opportunity
generation

Construction
expensesProfit

Sales
Sales

OperatingOperatingOperatingexpenses

expenses

expenses

Earnings frombusiness scale
expansion

ProfitLoss

10

ProfitEquity profit3. Progress under the Medium-Term Business Plan
(4) Redevelop Earnings Base and Establish Competitive Position
Business mall development (approx. 3,300 ㎡)
Scheduled grand opening in summer 2018
Business Mall
Attract customers (acquire members)

Business environment
Users by segment: Business use accounts for 60%
Users more than 10 times annually:
Over 50% of travelers
Users more than 3 times annually:
Over 90% of travelers

Complements/Connections
Marketplace

Vacant space utilization (3,300 m2)

Galaxy hall
Restaurants & bars

Office & meetings

Sports(golf academy, others)

Select salons (VIP lounge, others)
Health care & relaxation■ Facilities concept“Spend time at Haneda” ...Transform from a transit spot into a place
to stayGrow destination visitors
Create mechanisms that encourage airport users to spend moretime
Seek to boost effect of “suction” to upper floors and “showering”
to lower floors“Goods-Services-Goods” chain — Aim for synergies across entire
terminal

Goods and restaurants
Goods and restaurants
Goods and restaurants(8 keywords that define facilities)

WORK
CULTURE

REFRESHLEARN

Business mall
THE HANEDAHOUSEFASHIONEAT

ACTIVEEMPOWERMENT■ Commence Phase 1 operations
Rental Office “Regus express” (approx. 500 m2)
Opening May 31, 2017
(Tenant overview)
Company name: Regus Japan K.K.
Summary: Proud to be the world's largest rental office provider
Japan subsidiary of “Regus P2C (Headquarters: Brussels)”
No. of business centers: 110 domestic business centers (3,000
worldwide)

11

Japan Airport Terminal Co., Ltd.

3. Progress under the Medium-Term Business Plan
(5) Revision of Numerical Forecasts(1) Guidelines (Target Indicators)
No change in target. Moved from 4th place in SKYTRAX ranking last year to 2nd

Target average for SKYTRAX Top 10 Airports, from global perspectiveof becoming “the World’s No. 1 Airport”
SKYTRAX Ranking“World’s Best Airports 2017”

FY2020 Targets
Indicator used

Comprehensive

ROA (business efficiency)

Profitability

EBITDA(global cash base indicator)

Stability

Equity ratio

Growth potential

SKYTRAX

Shareholder
returns

Payout ratio

Target

TOP3

12

Rank

Airport１

Singapore Changi Airport

２

Haneda Airport

３

Incheon International
Airport４

Munich Airport

５

Hong Kong International
Airport６

Hamad International Airport

７

Chubu Centrair
International
Airport８

Zurich Airport

９

London Heathrow Airport

10Frankfurt Airport

Rose from fourth place last year

Indicator
type3. Progress under the Medium-Term Business Plan
(5) Revision of Numerical Forecasts(2) Investment plan

Investment plan revision points

Announced Medium-Term Business Plan figures
Strategic Pillar◆Capital expenditure

FY16(Plan)

Pursue ‘Vision’ for Ha neda Airport

FY17(Plan)

Previous plan
FY16–FY18 (Subtotal)

50.0

10.0

( 25.0)( 25.0)

2.0

5.0

3.0

10.0

5.0

25.0

5.0

35.0

2.0

3.0

0.0

5.0

17.0

43.0

40.0

100.0

interna tiona lization)
C ompetitive Position

FY18(Plan)

8.0(Related to dom estic, Ha neda
Redevelop Earnings Base and Establish(Billions of yen)

32.0

60.0

◆Other investment

Expand Business Dom a ins that
Leverage Stre ngths and Dive rsify
Earnings
Realignm ent and Enhance m ent ofOrganization, Hum an Capita l and
Gov ernance

Total
Plan after review
Strategic Pillar

40.0

FY16

FY17

(Plan)

FY18(Plan)

FY19(Plan)

FY20(Plan)

Current plan

FY16–FY20 (Subtotal)◆Capital expenditure

5.0

26.0

33.0

42.0

1.0)

( 20.0)( 22.0)( 32.0)

1.0

5.0

4.0

0.0

0.0

10.0

1.0

1.0

0.0

0.0

0.0

2.0

0.0

4.0

3.0

1.0

4.0

12.0

1.0

0.0

0.0

0.0

0.0

1.0

Total

8.0

36.0

40.0

43.0

8.0

135.0

Change

-9.0

-7.0

0.0

43.0

8.0

35.0

Pursue ‘Vision’ for Ha neda Airport(Related to dom estic, Ha neda
interna tiona lization)
Rede velop Earnings Base a nd Establish
Com pe titive Position
Realignm ent and Enhance m ent ofOrganization, Hum an Capita l and
Gov ernance(

4.0

・ Revised investment for Haneda Airport
internationalization
Initial (3 years) Change (5 years)
25 billion yen
75 billion yen
・ Capital investment for existing
facilities
Initial (3 years) Change (5 years)
35 billion yen
47 billion yen+62 billion
yen◆ Other investment

・ Revision of Haneda Zone 2, overseas airport
investment projects
Initial (3 years) Change (5 years)−27 billion yen
40 billion yen
13 billion yen(Billions of yen)(Results)◆ Capital expenditure(Total change)+35 billion yen◆ Investment period

110.0( 75.0)122.0・ Capital investment in the FY2016 plan will be
partially delayed since investment in Haneda
Airport internationalization will occur
simultaneously.

◆Other investment
Expand Business Dom a ins that
Leverage Stre ngths and Dive rsify
Earnings
Realignm ent and Enhance m ent ofOrganization, Hum an Capita l and
Gov ernance

13.0*Dormitory-related expense s from among “Realignment and E nhancement o f Organization, Human Capital and Gove rnance” po sted as capital investment.
*FY2016 results and FY2017 fo recast figures are in billions of yen.

13

Japan Airport Terminal Co., Ltd.

3. Progress under the Medium-Term Business Plan
(5) Revision of Numerical Forecasts(3) Profit-Loss Plan

Revision points for income/expense plan
・ Merchandise sales trends
・ Confirmed investment in Haneda Airport internationalization
・ Revision of non-airport business plans
FY2016PAX

FY2017FY2016(Results)

FY2018(10 thousands of people) Rate of change (% ) (10 thousands of people) Rate of change (% ) (10 thousands of people) Rate of change (% )FY2017(Plan)FY2018(Plan)(10 thousands of people) Rate of change (% ) (10 thousands of people) Rate of change (% ) (10 thousands of people) Rate of change (% )Haneda (Domestic flights)

6,330

1.0

6,330

0.0

6,330

0.0

6,581

5.2

6,647

1.0

6,710

1.0

Haneda (International flights)

1,530

14.0

1,580

3.3

1,610

1.9

1,565

16.5

1,659

6.0

1,670

0.6

Narita (International flights)

3,230

4.0

3,390

5.0

3,550

4.7

3,241

4.4

3,369

4.0

3,560

5.7

Kansai (In ternational flights)

1,890

9.5

2,080

10.1

2,290

10.1

1,914

10.8

2,000

4.5

2,160

7.9

PL (¥ billion)(¥ billion)(¥ billion)(¥ billion)(¥ billion)(¥ billion)(¥ billion)

221.0

230.0

238.0

204.9

208.6

216.0

53.4

54.0

54.5

54.9

55.8

58.0

Merchandise sales

149.4

157.5

164.5

131.0

134.1

138.0

Food and beverage

18.2

18.5

19.0

18.8

18.7

20.0

12.9

13.5

14.0

9.4

10.5

12.0

(5.8%)(5.9%)(5.9%)(4.6%)(5.0%)(5.6%)

15.6

17.0

20.0

12.8

12.8

14.5

11.1

12.0

14.0

6.8

8.9

10.5

6.8%

7.0%

7.9%

5.9%

5.7%

5.9%

ROA （EBITDA)

10.7%

11.4%

11.0%

9.7%

9.5%

9.9%

Equity ratio

51.6%

54.8%

53.3%

57.7%

54.5%

52.6%

Operating revenues
Facilities m anagem ent

Operating income(Operating incom e ratio)
Ordinary income
Net income attributable toowners of parent

KPI
ROA (ordin ary income)

14

FY2020(Targets)
Operating revenues
More than 250 billion
yen
Operating income ratio
Over 7%

ROA (ordinary income)8.0%

ROA (EBITDA)
12.0%

Reference(1) HANEDA ROBOTICS LAB initiatives●17 companies set for Stage 1
participation.
At Haneda Airport Terminal 2 (Dec. 14,
2016)●Remote controlled robot “CAIBA.”
Demonstration trials enacted at urban
duty-free stores (Apr. 20, 2017)(2) Ranked 2nd in the world overall in the 2017 airport ranking conducted by
SKYTRAX, with global top ranking in two categories
Haneda Airport, together with its domestic and international passenger
terminals, plays a critical part in efforts to promote Japan as a tourist
destination, and is strengthening its role as a hub airport that takes
advantage of Japan’s domestic flight network.
Going forward, as we strive to deliver passenger terminals that satisfy every
customer, domestic or international, we will provide facilities and services
offering superior convenience, comfort and functionality.
15

Japan Airport Terminal Co., Ltd.

Notes regarding projections
Items such as plans, targets, policies, strategies, decisions, financial
forecasts, future figures and monetary amounts in this presentationthat is not historical data are projections of the future. These arebased 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
requests you to make own decision regarding investments.

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

Earnings Explanatory Meeting
April 1, 2016 to March 31, 2017 (FY16)

Supplementary Material
1. Details of Consolidated Financial Results for FY16
2. Details of Consolidated Financial Forecast for FY17
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.
http://www.tokyo-airport-bldg.co.jp/

1. Details of Consolidated Financial Results for FY16
(1) Changes in Passenger Volume (Haneda, Narita and Kansai)(Thousand passengers)(Thousand passengers)

70,00018,000

Haneda Airport – domestic flights

68,00065,816

FY16 results +5.2%

66,000(Compared to Oct. 2016 revised
forecast +3.2%)

64,00062,00061,41060,00058,00066,476

16,00014,00062,553(＋1.0％）

12,000(＋5.2％)

62,656

1H results +4.3%
2H results +6.1%

52,0004,000

FY48,0002011

2012

35,000

2013

2014

2015

2016

← Results

30,862
29,71033,69931,055(＋4.0％）

29,302FY(＋4.4％）

20 13

20 14

20 15

Kansai Airport – international flights

19,000

FY16 forecasts +10.8%

17,000(Compared to Oct. 2016
revised forecast -0.4%)

20 16

20 17

Forecast →11,42820,006(＋4.5％)(＋10.8％)1H results +13.1%
2H results +8.6%

11,00019,144

17,275

13,52313,000Mar. 2011
The Great East
Japan Earthquake

12,0519,000

1H results +3.8%
2H results +4.9%

FY

23,000

2013

20 12

21,00015,00029,0002012

Mar. 2014
Increase in the number of landing slots(30,000/year)← Results

32,4102011

Oct. 2015
Flights to and from China up
from 8 to 20 flights/day(Thousand passengers)(Compared to Oct. 2016 revised forecast +0.3%)

33,00025,000(＋16.5％)Oct. 2016
Flights to and from the U.S.
up from 8 to 12 flights/day

11,558Mar. 2011
The Great East
Japan Earthquake

20 11

2017

FY16 results +4.4%

27,000

8,039(＋6.0％)

13,434

Forecast →Narita Airport – international flights

31,0007,948

16,5940(Thousand passengers)

37,000

1H results +20.1%
2H results +13.3%

15,6532,000

Mar. 2011
The Great East
Japan Earthquake

50,000(Compared to Oct. 2016
revised forecast +1.0%)

8,000
6,000

54,000

FY16 results +16.5%

10,00058,75256,000

Haneda Airport– international flights

2014

2015

2016

← Results

FY

7,000

2017

Forecast →

18

2011

2012

2013

2014

2015

← Results

2016

2017

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

1. Details of Consolidated Financial Results for FY16(2) Consolidated Financial Results for FY16
Items

FY16

FY15

(Results)(Results)

Ratio
Millions of yen

ChangeRatio

Oct. 2016

Rate ofchange(Revised forecast)Difference

Ratio

％

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen

204,953

100.0

204,134

100.0

818

0.4

202,900

100.0

2,053

54,97526.8

52,880

25.9

2,095

4.0

54,50026.8

475

Merchandise sales

131,098

64.0

133,71865.5-2,620-2.0

129,800

64.0

1,298

Food and beverage

18,8799.2

17,535

8.6

1,343

7.7

18,6009.2

279

109,47753.4

110,070

53.9

-593

-0.5

108,700

53.6

777

99,00048.3

99,956

49.0

-955

-1.0

98,20048.4

800Operating revenues
Facilities management

Cost of sales
Cost of sales of merchandise(Ratio)Cost of sales of food and beverage(Ratio)(75.5％)

10,477((

10,1145.1

55.5％)

74.8％)

(

(

0.7P)

362

4.9

57.7％)((

10,500

3.6-2.2P)

75.7％)

(

(

-22

5.2

56.5％)-0.2P)(-1.0P)

Gross profit

95,475

46.6

94,064

46.1

1,411

1.5

94,200

46.4

1,275

Selling, general and adm inistrative expenses

85,97842.0

82,761

40.6

3,217

3.9

85,40042.1

578

Operating incom e

9,497

4.6

11,3025.5-1,805

-16.0

8,800

4.3

697

Non-operating incom e/loss

3,346

1.6

2,351

1.2

995

42.3

2,600

1.3

746

12,843

6.2

13,654

6.7

-810

-5.9

11,4005.6

1,443

Extraordinary income/loss-1,613

-0.8

-194

-0.1

-1,418

-

300

0.1

-

Net incom e attributable to owners of parent

6,886

3.4

8,870

4.3

-1,983

-22.4

7,200

3.5

-313

Ordinary income* Ratio: Cost of sales of merchandise / Operating revenues of merchandise
Ratio: Cost of sales of food and beverage / Operating revenues of food and beverage
Note: Figures shown are rounded down to thenearest million yen.

19

Japan Airport Terminal Co., Ltd.

1. Details of Consolidated Financial Results for FY16
(3) Financial Results by Segment(i) Facilities management
Items

FY16

FY15

(Results)(Results)

ChangeRatio

Revised forecast

Rate of

Oct. 2016changeRatio

Difference
Ratio

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen

Rent revenues

13,07823.0

12,900

23.5

178

1.4

13,10023.2-21Facility user charges revenues

18,19432.0

17,851

32.5

342

1.9

18,00031.9

194

Other revenues

23,70341.7

22,128

40.3

1,574

7.1

23,40041.5

303

Subtotal

54,97596.8

52,880

96.3

2,095

4.0

54,50096.6475Intersegm ent sales

1,825

3.2

2,006

3.7

-180

-9.0

1,900

3.4

-74

Total

56,801

100.0

54,887

100.0

1,914

3.5

56,400100.0401Operating expenses

50,331

88.6

48,751

88.8

1,579

3.2

50,10088.8

231Operating incom e

6,470

11.4

6,135

11.2

334

5.5

6,300

11.2

170

Sales to external custom ers(Ratio)(11.4％)

・Rent revenues :・Facility user charges revenues :・Other revenues:(

11.2％)( 0.2P)

Increase in space leased to airline companies, etc.
Increase in income from PSFC
Increase in commissioned facility management
revenues for Haneda international flights
Increase in advertising revenue
Increase in passenger handling revenues(

11.2％)( 0.2P)+¥0.1 billion+¥0.3 billion+¥0.9 billion+¥0.3 billion+¥0.2 billion
Note: Figures shown are rounded down to the nearest million yen.

20

1. Details of Consolidated Financial Results for FY16
(3) Financial Results by Segment(ii) Merchandise sales
Items

FY16

FY15

(Results)(Results)
Ratio

ChangeRatio

Rate ofchangeRevised forecast
Oct. 2016

Difference
Ratio

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen

Domestic terminal stores

33,82925.7

33,424

24.9

404

1.2

33,60025.7

229International terminal stores

32,99125.0

35,12426.1-2,132-6.1

31,900

24.4

1,091

Other sales

64,27748.7

65,169

48.4

-892

-1.4

64,30049.3-22Subtotal

131,098

99.4

133,718

99.4-2,620-2.0

129,800

99.5

1,298

Intersegment sales

813

0.6

753

0.6

59

8.0

700

0.5

113

131,911100.0

134,471

100.0-2,560-1.9

130,500

100.0

1,411

124,657

94.5

124,995

93.0

-338

-0.3

124,000

95.0

657

7,254

5.5

9,476

7.0

-2,222

-23.4

6,500

5.0

754

Sales to external customers

Total
Operating expenses
Operating income(Ratio)(・ Domestic terminal stores:
・ International terminal stores:

・ Others:

5.5％)( 7.0％)( -1.5P)( 5.0％)

Increase in sales of directly managed stores at Haneda domestic terminal, etc.
Increase in sales of directly managed stores at Haneda international terminal
Decrease in sales of directly managed stores at Narita Airport
Decrease in sales of boutique store at Kansai Airport
Increase in sales accompanying full-year operation of urban duty-free stores
Increase in wholesale sales to Haneda international flights, regional airports, etc.
Decrease in wholesale sales to Narita Airport( 0.5P)+¥0.4 billion+¥0.7 billion-¥3.5 billion-¥3.6 billion+¥4.3 billion+¥2.8 billion-¥3.8 billion

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

21

Japan Airport Terminal Co., Ltd.

1. Details of Consolidated Financial Results for FY16
(3) Financial Results by Segment(iii) Food and beverage
Items

FY16

FY15

(Results)(Results)
Ratio

ChangeRatio

Rate ofchangeRevised forecast
Oct. 2016

Difference
Ratio

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen

Sales from restaurants

9,657

45.1

9,549

47.6

107

1.1

9,700

46.0

-42

Sales from in-flight meals

6,405

29.9

5,685

28.3

719

12.7

6,200

29.4

205

Other sales

2,816

13.2

2,300

11.5

516

22.4

2,700

12.8

116

Subtotal

18,87988.2

17,535

87.4

1,343

7.7

18,60088.2

279Intersegment sales

2,516

11.8

2,528

12.6

-11

-0.5

2,500

11.8

16

21,395100.0

20,063

100.0

1,331

6.6

21,100100.0

295

20,63896.5

19,499

97.2

1,138

5.8

20,300

96.2

338

757

3.5

564

2.8

193

34.2

800

3.8

-42

Sales to external customers

Total
Operating expenses
Operating income(Ratio)(3.5％)

・Sales from restaurants:
・Sales from In-flight meal:・Other sales:( 0.7P)( 2.8％)

Increase in sales tracking passenger growth
Increase in sales of new customer contracts
Increase in commissioned facility management revenues
for Haneda international flight stores( 3.8％)( -0.3P)+¥0.1 billion+¥0.7 billion+¥0.4 billion

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

22

1. Details of Consolidated Financial Results for FY16
(4) Breakdown of Selling, General and Administrative Expenses
Items

FY16
(Results)

FY15(Results)
Ratio

ChangeRate of change

Ratio

Millions of yen％

Millions of yen％

Millions of yen％

204,953

100.0

204,134

100.0

818

0.4

85,97841.9

82,761

40.4

3,217

3.9

Salaries and wages

9,838

4.8

9,233

4.5

604

6.6

Provision for employees' bonuses

1,376

0.7

1,340

0.7

36

2.7

Provision for directors' bonuses

227

0.1

245

0.1

-17

-7.3

Expenses for retirement benefits

1,047

0.5

913

0.4

133

14.6

Rent expenses

12,504

6.1

12,679

6.2

-175

-1.4

Business consignment expenses

24,46411.9

22,320

10.9

2,143

9.6

Depreciation expenses

11,6095.6

11,232

5.5

376

3.4

Other costs and expenses

24,91012.2

24,795

12.1

115

0.5

Operating revenues
Selling, general and administrative
expenses

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

23

Japan Airport Terminal Co., Ltd.

1. Details of Consolidated Financial Results for FY16(5) Changes in Non-Operating Income/Expenses and Extraordinary Income/Loss
Items

FY16
(Results)

FY15(Results)
Ratio

ChangeRate of change

Ratio

Millions of yen%

Millions of yen%

Millions of yen%

204,953

100.0

204,134

100.0

818

0.4

Operating income

9,497

4.6

11,3025.5-1,805-16.0

Non-operating income

3,871

1.9

3,089

1.5

782

25.3

904

0.5

887

0.4

17

2.0

2,291

1.1

1,529

0.8

761

49.8

676

0.3

672

0.3

3

0.5

Non-operating expenses

525

0.3

737

0.4

-212

-28.8

Interest expenses

417

0.2

556

0.3

-138

-24.9

Miscellaneous expenses

107

0.1

181

0.1

-74

-40.8

Ordinary income/loss

12,843

6.3

13,654

6.7

-810

-5.9

Extraordinary income

277

0.1

24

0.0

252

-

Extraordinary loss

1,891

0.9

219

0.1

1,671

-

Income taxes

4,234

2.1

4,933

2.4

-699

-14.2

Net incom e attributable to owners of parent

6,886

3.4

8,870

4.3

-1,983-22.4

Operating revenues

Interest income anddividend
Return on investment by
the equity method
OthersNote: Figures shown are rounded down to the nearest million yen.

24

1. Details of Consolidated Financial Results for FY16
(6) Consolidated Balance Sheets(Millions of yen)

Cash and deposits+¥2.5 billion
Securities-¥7.0 billion
Merchandise-¥1.7 billion
Others-¥0.4 billion

43,35767,555Current
assets-6,64874,203

Tangible fixed assets(depreciable assets)

Current
liabilities-7,761

51,99260,790

Buildings, etc. +¥1.6 billion
Accumulated depreciation-¥11.0 billion
Construction in progress+¥1.0 billion
Others+¥2.5 billion

35,596

Retained earnings+¥4.1 billion
Deferred income/loss+¥1.5 billion
Valuation difference+¥0.5 billion

Investments and other assets
Investment securities+¥3.1 billion

148,339
125,438

118,394
Total assets 213,026

FY2016Long-term loans payable-¥7.7 billion

Fixedliabilities-8,798Fixed
assets-2,868145,471

Accounts payable – trade+¥0.6 billion
Income taxes payable-¥0.9 billion
Long-term loans payable(To be repaid within a year)-¥0.9 billion
Others-¥6.5 billion

Total assets 222,542

Net
assets+7,043

FY2015FY201525

Equity ratio
FY16

57.7％

FY15

52.1％
(+5.6 P)

FY2016
Note: Figures shown are rounded down to the nearest million yen.
Japan Airport Terminal Co., Ltd.

1. Details of Consolidated Financial Results for FY16
(7) Consolidated Statements of Cash Flows
Items

FY15
(Results)(Results)

FY16(Results)

ChangeChangeMillions of yen

Millions of yen

Millions of yen

15,62015,235384

Income before income taxes and minority interests

11,23013,459-2,229Depreciation and amortization

11,693

11,311

381

300

-896

1,196

Other current liabilities-3,774

4,383-8,157

Other fixed liabilities

-249

-149

-100

Others

1,818-7,368

9,186

Income and other taxes paid

-5,398-5,505107

Cash flows from investing activities-8,373-7,810-562

Purchase of tangible fixed assets-9,008-6,734-2,273Purchase of intangible fixed assets-1,052

-649

-403

1,687

-427

2,114

-11,702-10,759-942

Cash flows from operating activities

Other current assets

OthersCash flows from financing activities
Proceeds from long-term loans payable

-

3,500

-3,500

Repayment of long-term loans payable-10,666-11,402

736

Dividends payment-2,761-2,193-568

Others

1,725

-664

2,389

-1

2

-3

Increase (decrease) in cash and cash equivalents-4,456-3,332-1,124

Cash and cash equivalents at beginning of period

43,56546,897-3,332

Cash and cash equivalents at end of period

39,10843,565-4,456

Effect of exchange rate change on cash and cash equivalents

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

26

1. Details of Consolidated Financial Results for FY16
[Reference] Purchasing Trends of Non-Japanese Passengers by Nationality (1)(1) The number of departing non-Japanese visitors by airport (monthly average)Japan

HanedaNaritaKansaiOther

No. of passenger
volume (person)

Composition
ratio (%)

No. of passenger
volume (person)

Composition
ratio (%)

No. of passenger
volume (person)

Composition
ratio (%)

No. of passenger
volume (person)

Composition
ratio (%)

No. of passenger
volume (person)

Composition
ratio (%)

FY15

1,737,049

100

227,26913

524,93030

455,300

26

529,55030

FY161,973,667

100

280,24114

585,52530

516,31726

591,58330(2) The number of departing non-Japanese visitors by airport and nationality (monthly average)○ Volume ranking and change in departing passengers by nationality for FY16<<Haneda Airport>>
No. of passenger
volume (person)

60
40

No. of passenger
volume (person)

Change (%)

Composition
ratio (%)

Change (%)

83,79329.9%

46.7% China (incl. Hong Kong)

158,232

27.0%

7.4% China (incl. Hong Kong)

181,431

35.1%

7.2%

41,172

14.7%

3.8% Taiw an

90,96815.5%

4.7% South Korea

139,711

27.1%

23.9%

Taiw an

26,2379.4%

5.0% South Korea

65,84011.2%

33.9% Taiw an

94,175

18.2%

7.1%

U.S.A

22,911

8.2%

33.1% U.S.A

62,39510.7%

13.3% Thailand

18,342

3.6%

19.2%

Composition
ratio (%)

No. of passenger
volume (person)

Change (%)

Composition
ratio (%)

No. of passenger
volume (person)

Change (%)

Composition
ratio (%)

Change (%)

Non-Japanese

280,24143.8%

23.3% Non-Japanese

585,525

51.4%

11.5% Non-Japanese

516,317

66.1%

Japanese

360,091

56.2%

10.3% Japanese552,718

48.6%

1.5% Japanese

265,145

33.9%

4.5%

Total

640,332

100.0%

15.7% Total

1,138,243

100.0%

6.4% Total

781,462100.0%

10.2%○ Number of departing non-Japanese passengers
China (incl. Hong Kong)

Figures in ( ) denote percent change*FY2015 and FY2016 comparison(+49.2%)

TaiwanEurope/U.S.A
Others12080（+5.4%)

40

2H
2014

1H

2H
2015

1H

2H
2016

0

(+9.1%)(+12.2%)(+17.9%)(+5.1%)(+34.2%)(+1.0%)
1H

2H
2014

13.4%

250

160

(+20.3%)(+4.4%)(+35.0%)1H

200(+26.0%)South-East Asia

20
0

Change (%)<< Kansai Airport >>Composition
ratio (%)

South Korea

South Korea

80

No. of passenger
volume (person)

China (incl. Hong Kong)

No. of passenger
volume (person)

100<<Narita Airport>>

Composition
ratio (%)

1H

2H
2015

Notes: Passenger data has been aggregated by the company using immigration statistics from the Ministry of Justice.
Data from April 2016 to February 2017. Transit passengers are not included in passenger number.

27

1H

2H
2016

200

(+9.6%)

150(+25.3%)(+7.6%)

100(+29.0%)50
0(+15.5%)(+9.2%)
1H

2H
2014

1H

2H
2015

1H

2H
2016

Japan Airport Terminal Co., Ltd.

1. Details of Consolidated Financial Results for FY16
[Reference] Purchasing Trends of Non-Japanese Passengers by Nationality (2)(3) Company duty-free store sales and number of departing passengers by airport and nationality (monthly average)(Net sale: millions of yen)
Othercountries
South-East
Asia
Europe andUS
TaiwanSouth Korea
Japan
China

Haneda4,000

700 2,000

3,500

80
117
183
286

2,500

1,500

326

Japanesetravelers(Change)

Foreigntravelers(Change)

1,099

1,600
500 1,400

1,000
300

1,412

(＋28.4%)

0

0

2015

2016

2,000

700

585(+11.5％)
600

1,800

Foreigntravelers(Change)

1,600

524

Japanesetravelers(Change)51552 (＋1.5％）

56

500
400

311

48

800

41

300

( (-14.6%)

200

600

400

254 111

400

775

592

200

( (-23.7%)

0

100
0

2015

516 (+13.4％)

455

1,200

800

600
500

1,400

Japanesetravelers(Change)

1,000

266

600
400

100

700

544

280 (+23.3%)
200

Kansai

Foreigntravelers(Change)

1,800

400

1,360

227

600

360 (＋10.3%)
1,200(＋16.5%)

1,167

1,000
500

328
125
135
151
275

771

3,000

2,000

Narita(No. of travelers: thousands)
Figures in ( ) are percent
change36300

265 (＋4.5％）
200

97

642

34

200

(-12.1%)0(-52.8%)2016

Notes: “Net sales” denote all store sales (excluding taxable stores). Haneda: all duty-free stores;
Narita: directly managed stores and boutiques; Kansai: directly managed boutiques. Sales by nationality include estimates.

100

303

2015

0

2016

(4) Main factors in the fluctuation of sales of duty free shops and purchasing trends«Haneda»With increased flights to and from China in the first half of the year, while the rate of growth was sluggish comparedwith the previous year, when sales from Chinese passengers doubled, growth continues, including in sales share.
Due to the impact of increased flights to and from the U.S. in the second half of the year, sales and sales share from
European, the U.S., and Japanese passengers increased.
In merchandise sales composition, growth in sales share from perfume and cosmetics, liquor and tobacco, and food.
«Narita»
Growth in the share of sales by nationality, with low decline in South Korean passengers.
In merchandise sales composition, year-on-year growth with high sales shares for perfume and cosmetics, andliquor and tobacco.
«Kansai»
While the share of sales from Chinese passengers fell 10 points, the extent of decline was low among Japanese andSouth Korean passengers, resulting in sales share growth.

28

Percent change in duty-freestore per-unit purchases

1H

2H

Full year

Haneda

-2.9%

-0.9%

-1.7%

Narita-12.2%

-4.9%

-8.7%

Kansai-46.3%-26.9%-38.3%

2. Details of Consolidated Financial Forecast for FY17(1) Consolidated Financial Forecast for FY17
Items

FY17

FY16

(Forecast)(Results)
Ratio

ChangeRatio

Rate ofchange%Millions of yen％

Millions of yen％

208,600

100.0

204,953

100.0

3,646

1.8

55,80026.7

54,975

26.8

824

1.5

Merchandise sales

134,100

64.3

131,098

64.0

3,001

2.3

Food and beverage

18,7009.0

18,879

9.2

-179

-1.0

110,700

53.1

109,477

53.4

1,222

1.1

100,300

48.1

99,000

48.3

1,299

1.3

10,400

5.0

Gross profit

97,90046.9

Selling, general and adm inistrative expenses

87,400Operating income

Millions of yen

Operating revenues
Facilities managem ent

Cost of sales
Cost of sales of m erchandise(Ratio)Cost of sales of food and beverage(Ratio)Non-operating income/loss

Ordinary income((

74.8％)
55.6％)

75.5％)

10,477((- 0.7P)-77

5.1

55.5％)

(

-0.7

0.1P)

95,475

46.6

2,424

2.5

41.9

85,978

42.0

1,421

1.7

10,500

5.0

9,497

4.6

1,002

10.6

2,300

1.1

3,346

1.6

-1,046-31.3

12,800

6.1

12,843

6.2

-43

-0.3

-100

-0.1

-1,613

-0.8

1,513

-

8,900

4.3

6,886

3.4

2,013

29.2

Extraordinary incom e/loss
Net incom e attributable to owners of parent(* Preconditions: Forecast of number of passengers
Haneda domestic (full-year)+1.0% YoY
Haneda international (full-year)+6.0% YoY

Narita international (full-year)+4.0% YoY

Kansai international (full-year)+4.5% YoY

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

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

29

Japan Airport Terminal Co., Ltd.

2. Details of Consolidated Financial Forecast for FY17(2) Financial Forecast by Segment(1) Facilities management
Item sFY17

FY16(Forecast)(Results)
Ratio

ChangeRatio

Rate ofchangeMillions of yen％

Millions of yen％

Millions of yen％

13,20022.8

13,078

23.0

121

0.9

18,30031.8

18,194

32.0

105

0.6

24,30042.0

23,703

41.7

596

2.5

Subtotal

55,80096.5

54,975

96.8

824

1.5

Intersegm ent sales

2,000

3.5

1,825

3.2

174

9.5

Total

57,800100.056,801

100.0

998

1.8

Operating expenses

51,90089.8

50,331

88.6

1,568

3.1

Operating income

5,900

10.2

6,470

11.4

-570

-8.8

Sales to external custom ers
Rental revenues
Facility user charges revenues
Other revenues(Ratio)・ Rent revenues:
・ Facility user charges revenues:
・ Other revenues:( 10.2％)(

11.4％)(-1.2P)

Increase in space leased to airline companies, etc.
Increase in income from PSFC
Increase in commissioned facility management revenues
for Haneda international flights+¥0.1 billion+¥0.1 billion+¥0.6 billion

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

30

2. Details of Consolidated Financial Forecast for FY17(2) Financial Forecast by Segment(ii) Merchandise sales
Items

FY17

FY16

(Forecast)(Results)
Ratio

ChangeRatio

Rate ofchangeMillions of yen％

Millions of yen％

Millions of yen％

Domestic terminal stores

34,30025.4

33,829

25.6

470

1.4

International terminal stores

32,20023.9

32,991

25.0

-791

-2.4

Other sales

67,60050.1

64,277

48.6

3,322

5.2

Subtotal

134,100

99.3

131,098

99.4

3,001

2.3

Intersegment sales

900

0.7

813

0.6

86

10.7

Total

135,000

100.0

131,911

100.0

3,088

2.3

125,700

93.1

124,657

94.5

1,042

0.8

9,300

6.9

7,254

5.5

2,045

28.2

Sales to external customers

Operating expenses
Operating income(Ratio)・ Domestic terminal stores:
・ International terminal stores:

・ Others:

(

6.9％)

(

5.5％)

( 1.4P)

Increase in sales of directly managed storesat Haneda domestic terminal, etc.
Increase in sales of directly managed stores at Haneda international terminal
Increase in sales of directly managed stores at Narita Airport
Decrease in sales from change in contract format for boutique storesat Kansai Airport
Increase in sales accompanying full-year operation of urban duty-free stores
Increase in wholesale sales to Haneda international flights andregional airports, etc.
Increase in wholesale sales to Narita Airport

31+¥0.4 billion+¥0.3 billion+¥0.4 billion-¥3.3 billion+¥1.9 billion+¥2.9 billion+¥0.3 billion

Note: Figures shown are rounded down to the nearest million yen.
Japan Airport Terminal Co., Ltd.

2. Details of Consolidated Financial Forecast for FY17(2) Financial Forecast by Segment(iii) Food and beverage
Items

FY17

FY16

(Forecast)(Results)
Ratio

Rate of

ChangechangeRatio

Millions of yen％

Millions of yen％

Millions of yen％

Sales from restaurants

9,500

44.4

9,657

45.1

-157

-1.6

Sales from in-flight meals

6,400

29.9

6,405

29.9

-5

-0.1

Other sales

2,800

13.1

2,816

13.2

-16

-0.6

Subtotal

18,70087.4

18,879

88.2

-179

-1.0

Intersegment sales

2,700

12.6

2,516

11.8

183

7.3

21,400100.021,395

100.0

4

0.0

20,90097.7

20,638

96.5

261

1.3

500

2.3

757

3.5

-257

-34.0

Sales to external customers

Total
Operating expenses
Operating income(Ratio)・ Sales from restaurants:

(

2.3％)

(

3.5％)

Decrease in sales accompanying store remodeling(-1.2P)-¥0.1 billion

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

32

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

Capitalexpenditure
Depreciation
expenses

FY12

FY13

FY14

FY15

FY16

FY17

(Results)(Results)(Results)(Results)(Results)(Forecast)Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

7,215

5,765

4,830

8,379

6,853

32,42912,865

12,68011,872

11,232

11,60910,720• Breakdown of Major Capital Expenditures
FY17 (Forecast)

FY16 (Results)

Acquired land for dormitory for single employees¥0.8 billion

Building 2 internationalization construction¥20.0 billion

PBB step-less conversion construction for Building 1¥0.7 billion

Building 1 business mall construction¥1.4 billion

Central surveillance room system update construction ¥0.3 billion

Lounge renovation¥1.1 billion

Building 1 north side toilet upgrade¥0.3 billion

Building 1 renewal¥1.1 billion

New construction of North Pier lounge for Building 2¥0.3 billion

・Breakdown of main depreciation expenses
FY12(Results)

FY13(Results)

FY14(Results)

FY15(Results)

FY16(Results)

FY17(Forecast)Billions of yen

Billions of yen

Billions of yen

Billions of yen

Billions of yen

Billions of yen

Terminal 1

4.4

4.2

4.0

3.9

4.0

4.3

Terminal 2

6.1

5.2

5.4

5.0

3.8

3.8

P4 Parking

0.6

0.5

0.5

0.4

0.3

0.3

33

Note: Figures shown are rounded down to the nearest million yen.
Japan Airport Terminal Co., Ltd.

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

120.0

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

45.0

Great East Japan Earthquake

H1N1 influenza outbreak

Chubu International
Airport opened

Y2K task

160.0

SARS outbreak

200.0

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

Iraq war(right)(right) Ordinary income (results)
9-11 Terrorist Attack in the US(right)(right) Cash flows (forecast)Financial realignment(right)(right) Cash flows

Voluntary closure of
Yamaichi Securities(left)(left) Operating
Operating revenues (forecast)Kansai International
Airport opened

240.0

Billionsof yen(left)(left) Operating revenues (results)

Narita Airport Terminal 2
started operation

Billionsof yen

40.0
35.0
30.0
25.0

Haneda Airport Terminal 2
started operation (Dec. 2004)

Haneda Airport Terminal 1
started operation (Sep. 1993)

18.1
17.1

80.0
15.1

13.9

13.3

3.6
4.9
90

91

92

93

94

95

96

97

98

99

0

1

2

3

'04

'05

'06

'07

'08

'09

3.1
'10

13.6 12.8 12.8 10.0
11.8 13.6
5.0

5.7

0.1
'11

'12

20.0
15.0

14.6

10.7

40.0

0.0

15.7 16.8

'13

'14

'15

'16

←

'17

0.0

→

Results Forecast

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

April 1, 2016 to March 31, 2017 (FY16)

Reference Material

1. Outline of the Company
2. Summary of Tokyo International Airport(Haneda)* This document has been translated from the Japanese original, for reference
purposes only.
In the event of any discrepancy between this translated document and theJapanese original, the original shall prevail.

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

1. Outline of the Company(1) Business Details
A company responsible for construction, maintenance and operation of Haneda Airport passenger terminals
Terminal 2■ Terminal 1■ Terminal 2

Terminal 1

International
Passenger
Terminal

・ Construction, management, and operation ofterminal buildings
・ Real estate leasing (offices, stores and otherspaces for airline companies and airport-based
businesses)
・ Merchandise sales (direct management)
・ Food and beverage services (direct
management)
・ Passenger services
・ Preparation/sales of in-flight meals
・ Management of parking lots

■ International Passenger
Terminal

Built and managed by Tokyo International
Air Terminal Corporation (TIAT),
established through investment with airline
companies and other entities and centeredon Japan Airport Terminal Co., Ltd.
・ Business under contract (facilities
maintenance/management, duty-freestore operation, passenger services, etc.)
・ Wholesale and merchandise sales
・ Food and beverage services

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 International
AirportCentral Japan
International Airport• Commissioned management of
duty-free stores• Merchandise sales• Wholesale• Wholesale

Chengdu Shuangliu
International Airport(Sichuan Province, China)• Merchandise sales

361. Outline of the Company(2) 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 insure the safety and stability of passenger
terminal buildings.
・Japan Airline Terminal contributes to the development of the airline industry, guided by a consistent dedication to sharedprosperity with airline companies.

37

Japan Airport Terminal Co., Ltd.

1. Outline of the Company(3) 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
1955
1964

(July)(May)(April)1978(October)(May)

Established with private sector capital of 150 million yen.
The terminal building opened and launched operation.
Separate domestic arrival terminal building completed in time with the Tokyo Olympic
Games.
Duty-free sales operations commenced.
Commenced merchandise sales including duty-free articles, hotel reservation services
and other operations with the opening of Narita International Airport.

1990
1991
1993
1994

(February) Listed on second section of the Tokyo Stock Exchange.
(September) Listed on first section of the Tokyo Stock Exchange.
(September) Haneda Airport Terminal 1 (Big Bird) started operation.
(September) Launched commissioned operation of duty-free stores and wholesale of duty-free goods
accompanying opening of the Kansai Airport.

1998(March)2001
2002(February)(April)

2003
2004
2005
2006

The temporary international terminal at Haneda Airport started operation.

International charter flights commenced at Haneda Airport.
Terminated periodic international flights from Haneda Airport (transfer of China Airlines
and the EVA Airways to Narita).
(November) International charter flights between Haneda and Seoul (Gimpo) commenced.

Haneda Airport Terminal when opened(December) Terminal 2 at Haneda Airport started operation.
(February) Wholesale of duty-free goods commenced with the opening of Central Japan
International Airport.
(April)Participated in the project of the maintenance and operation of terminal at international
flight area of the Tokyo International Airport.
(June)

2007
2008
2009

Invested in the special purpose company (SPC) “Tokyo International Air Terminal
Corporation.”(February) South Pier in Terminal 2 at Haneda Airport started operation.
(September) International charter flights between Haneda and Shanghai (Hongqiao Airport)commenced.
(April)International charter flights between Haneda and Hong Kong commenced (during
specific hours).
(April)Designated as an Airport Facilities Operator under the revised Airport Act.
(October)International charter flights between Haneda and Beijing commenced.

(August)P4 multi-story parking main building started operation (full-scale operation in October).

(October)

The extended part of Terminal 2, Haneda Airport started operation.
The new International Passenger Terminal (TIAT) started operation.

2011(January)

Established Japan Airport Terminal Trading (Chengdu) Co., Ltd.

2013

(November) Renewal of Terminal 1 building, Haneda Airport completed.
(April)The extended part of South Pier in Terminal 2 at Haneda Airport started operation.

2014(March)2010

Start of usage of international passenger terminal building expansion.

38

Haneda Airport Terminal 1

Haneda Airport Terminal 2

1. Outline of the Company(4) Group Companies
Facilities management operations

Facilities
management
operations

Food andbeverage
operations

Total:
17 companies

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
Sakura Shokai Co., Ltd.
Airport cleaning center management and waste treatment
BIG WING Co., Ltd.
Advertising agency business, event planning andmanagement
Haneda Passenger Service Co., Ltd.
Passenger services operations
Japan Airport Ground Handling Co., Ltd.
Passenger handling services

Merchandise
sales
operations

Food and beverage operations

6 companies

4 companies

Merchandise sales operations

7 companies

International Trade Inc.
Wholesale business and merchandise sales to Japanese airport
retail stores and other clientsJapan Airport Logitem Co., Ltd.
Merchandise transport, delivery and inspection
Haneda Airport Enterprise Co., Ltd.
Store operation business
Hamashin Co., Ltd.
Wholesale and retail sales of marine products
Japan Airport Terminal Trading (Chengdu) Co., Ltd.
Merchandise sales and wholesale business at Chengdu
Shuangliu International Airport
Japan Duty Free Fa-So-La Isetan Mitsukoshi Co., Ltd.
Development of airport duty-free stores (bonded stores) inurban areas
Air BIC INC. Retail sales of home appliances

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
CTT Co., Ltd.
Cleaning of in-flight goods and eating utensils
KAIKAN KAIHATSU Co., Ltd.
Restaurant business, management and operation of
lodging, halls and meeting rooms

39

Japan Airport Terminal Co., Ltd.

1. Outline of the Company(5) Revenue Composition/Composition by Segment

FY2016

Other 1%
(1%)
In-flight meals 3%(3%)
Restaurants 5%(5%)

Other 31%
(32%)

Food andbeverage
operations
9%(9%)

Rent revenue 6%(6%)

Facilities
management
operations
27%
(26%)

Merchandise
sales operations
64%
(65%)

Stores at internationalterminal 16%(17%)

Facility user charges
revenue 9%(9%)

Other 12%
(11%)

Stores at domestic
terminal 17%
(16%)
40

* Figures in parenthesis are results for FY15.

1. Outline of the Company(6) Revenue Composition/Details by Segment
Category

Revenue details

Rent revenue
Facilities
management
operations

Facility user charges
revenue
OthersStores at domestic
terminal

Merchandise
sales operations

Food andbeverage
operations

Office lease (fixed rent); store lease(fixed rent + percentage commission)
Fees for use of passenger facilities (domestic flights: PSFC)

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

Commissioned management fee of Haneda Airport, parking fee revenue, advertising
Lease fee (such as national property usage fee); taxes and public
revenue; sales from paid waiting room (Airport Lounge); revenue from subcontracted work charges (fixed asset tax); outsourcing fees
Merchandise sales for stores at Haneda Airport

Cost of sales; supply expenses

Stores at internationalterminal

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

Cost of sales; supply expenses; percentage of business

OthersWholesale to Haneda Airport, Narita International Airport, Kansai International Airport,
and Central Japan International Airport
Commissioned management fee of Haneda Airport, Narita International Airport, andKansai International Airport

Cost of sales and agent service fee

Restaurants

Restaurant sales at Haneda Airport and Narita International Airport

Food expenses (cost of sales for food and beverage), percentage
of businessIn-flight meals

Production and sales of in-flight meals

Food expenses (cost of sales for food and beverage)

Commissioned management fee of Haneda Airport international flights
Wholesale of products such as frozen foods and box meals

Food expenses (cost of sales for food and beverage), Outsourcing
costs

Others

Factors behind changes in earnings:

Environment the airline industry operates in (such as changes in the number ofpassengers on both international and domestic flights)
Government measures, etc. (such as the government's and regulating authority's airport
management policy and revisions to and changes to the system of usage fees for national
assets)Changes in facility user charges (domestic flights)

41

Japan Airport Terminal Co., Ltd.

1. Outline of the Company(7) Revenue Composition by Region and Segment
FY2016

KansaiInternational
Airport
4%(6%)

NaritaInternational
Airport
12%(16%)

Sales ofmerchandise
58%

Rent
revenue
10%

HanedaAirport79%(73%)
Central Japan
International
Airport andothers2%(2%)

Outside airports(Urban duty-free stores,
company-held
premises)

3%(3%)

Other revenues
17%*Figures in ( ) are FY15 results.
42

Facility user charges
revenue15%

1. Outline of the Company(8) Changes in Capital Investment
FY

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
Construction to remove old terminal building¥130.0 billion¥6.0 billion

1997

Expansion construction to build South/North Bus Lounge in Terminal 1 building
New construction of boarding station¥1.0 billion¥1.0 billion

1998

Construction to build international terminal building¥1.5 billion

1999–2002

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

2002

Expansion and renovation of 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)
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

International terminal building expansion and renovation¥2.1 billion

2007

Construction to build P4 simplified parking structure¥2.0 billion

2008

International terminal building expansion and renovation¥1.5 billion

2008–2010

Terminal 2 building expansion (Third Stage of the Plan)
Construction to convert P4 parking lot to multi-story parking lot¥19.0 billion¥6.0 billion

2011

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

2013

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

Total ¥325.4 billion
43

Japan Airport Terminal Co., Ltd.

２．Summary of Tokyo International Airport (Haneda)(1) Location Map■ Total area of airport

1,522 ha■ Apron Total area/268 ha Spots/222■ 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. 407,000
flights/year

６■ Terminal building
・Terminal building 1

５

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

６

Floor space/255,600 ㎡

2

Spots (stationary boarding bridge
present)/ 23 locations
・International Terminal Building

10

11

９

８

５
７

１

Floor space/approx. 236,000 ㎡
Spots (stationary boarding bridge
present)/ 18 locations■ Parking lot

７

・P1

Capacity/2,350 vehicles

８・P2

Capacity/2,343 vehicles

・P3

Capacity/2,450 vehicles

９・P4

Capacity/2,425 vehicles(includes 2 microbus spaces)

12

10
11

1３

・Parking lot for international flights
Capacity/approx. 3,000 vehicles
12■ Haneda Airport Dock

4

1３

44

２．Summary of Tokyo International Airport (Haneda)(Ten thousand passengers)

7,000

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

2,470

2,577

2,675 2,631

2,768

3,082

2,677

2,587

726

2,692

1,000

14
0

35

Increase in flights toHong Kong

84
130

161

195

243

275
Launch of Hong Kong flights

3,241

3,369

1,000

2,930

794

800

2,971 3,086

Launch of
Beijing flights

481

Launch of Gimpo flights

Haneda Airport– international flight passengers (right axis)

International charter flights
moved to Narita

2,000

1,200

3,105

803

2,886

2,945

3,000

3,151 3,151

1,600

1,400

1,155

The extended part of South Pier in Terminal 2
started operation

3,207

1,659

1,343

Expanded international terminal enters operation

4,000
Narita International Airport– international flight passengers (left axis)

1,800

1,565

5,853
The Great East Japan
Earthquake

4,302

4,446

2,000

6,141
New International Terminal started
operation

4,863
4,630

Expanded South Side of Terminal 2
at Haneda Airport

5,141

5,642

Financial crisis being triggeredby the US

5,568

6,265 6,255
5,933 5,880

Terminal 2 opened at Haneda

6,000

SARS outbreak

5,854

5,000

6,318

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

H1N1 influenza outbreak

Haneda Airport– domestic passengers (left axis)

5,416

6,581 6,647

6,500 6,499

Haneda international flight passengers(Ten thousand passengers)

9-11 Terrorist Attackin the US

Passengers using Haneda domestic flights
and Narita international flights(2) Changes in Passenger Volume on Domestic and International Flights

600

400

200

Launch of Shanghai flights

Fiscal year
87
85
85
84
81
72
0
'95.3 '96.3 '97.3 '98.3 '99.3 '00.3 '01.3 02.3 '03.3 '04.3 '05.3 '06.3 '07.3 '08.3 '09.3 '10.3 '11.3 '12.3 '13.3 '14.3 '15.3 '16.3 '17.3 18.3
(Forecast)
97

95

Increase in flights to Gimpo

45

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

２．Summary of Tokyo International Airport (Haneda)(3) Comparison of Passenger Volume
Japan Airport Passenger Volume Ranking(2016 calendar year)
Airport

Code

Annual (thousandpeople)Global Airport Passenger Volume Ranking(2016 calendar year bulletin)
Daily average(thousand people)

Share (%)

HND 80,121(64,935)

218

27.5

2 Narita
International
3 KansaiInternational

NRT

36,578 (7,004)

99

12.5

25,128 (6,476)

68

8.6

4 Fukuoka

FUK

21,994 (17,004)

60

7.5

5 New Chitose

CTS

21,311 (18,732)

58

7.3

6 NahaOKA

19,671 (16,744)

53

6.7

7 Osaka
International
8 Chubu Centrair
International

ITM

14,923 (14,923)

40

NGO 10,842 (5,658)

9 Kagoshima

KOJ

10 SendaiInternational

SDJ

1

Haneda(Tokyo International)

80 other airports

KIX

City/Airport

Code

Annual(thousand people)

1

AtlantaATL

104,1712

Beijing Capital International

PEK

94,393

3

Dubai

DXB

83,654

4

Los Angeles

LAX

80,921

5

Tokyo (Haneda)

HND

79,6995.1

6Chicago (O’Hare)

ORD

77,96029

3.7

7

London (Heathrow)

LHR

75,7155,372 (5,179)

14

1.8

8

Hong Kong

HKG

70,305

3,110 (2,922)

8

1.1

9

Shanghai (Pudong)

PVG

66,00210 Paris (Charles De Gaulle)CDG

65,93352,618 (50,124)

18.0

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

46

Source: ACI (Airports Council International) publication“Preliminary 2016 World Airport Traffic Rankings”

２．Summary of Tokyo International Airport (Haneda)

Okinawa

Code

Flights/day

Okayama

OKJ

10

UBJ

Tottori

TTJ

Yonago

YGJ

Izumo

IZO

Iwakuni

IWK

Hagi Iwami

IWJ

Takamatsu

TAK

Tokushima

TKS

Matsuyama

MYJ

Kochi

KCZ

Fukuoka

FUK

Kitakyushu

KKJ

Saga

HSG

Oita

OIT

Kumamoto

KMJ

Nagasaki

NGS

Miyazaki

KMI

Kagoshima

KOJ

Amami Oshima

ASJ

Okinawa (Naha)

OKA

MiyakoMMY

Ishigaki

ISG

Flights/day

TOY

Noto

NTQ

Komatsu

KMQ

10

6

Chubu

NGO

5

Osaka (Itami)

ITM

3
30

Osaka (Kansai Airport)

KIX

13

Kobe

UKB

NankiShirahama

SHM

9

17
10
5

5
2
13

4

City

2

3

11
12
10
54
16

TohokuYamaguchi Ube

CodeToyama

Chubu

HIJ

City

Kinki

Hiroshima(excluding code share flights)

Hokkaido

City

5
14
18
14
18

City

23
Kanto

KyushuShikoku

Chugokuroutes(4) Domestic Destinations and Flights Domestic flights 48
Approx. 496 flights (departures)/day

130

Hachijojima

CodeFlights/day

Sapporo (Chitose)

SPK

52

Wakkanai

WKJ

1Asahikawa

AKJ

7

Obihiro

OBO

7

Kushiro

KUH

6

Mombetsu

MBE

1

Memanbetsu MMB

5Nakashibetsu SHB

1

Hakodate

HKD

8

Aomori

AOJ

6Misawa Hachinohe

MSJ

3Odate-Noshiro

ONJ

2

Akita

AXT

9

Yamagata

GAJ

2

Shonai

SYO

4

Code

Flights/day

HAC

3

2
4

(As of May 2017)47

Japan Airport Terminal Co., Ltd.

２．Summary of Tokyo International Airport (Haneda)
City name(5) International Destinations and Flights
International flights to 31 Cities, 34 Routes
Approx. 116 flights departing per day

Code

Beijing

PEK

Hong Kong

HKG

Sha nghai(Hongqiao)

China

Sha nghai( Pudong)

5
3
4
5
4
4

Tianjin

TSN

2

Jinan

TNA

1

Gimpo

GMP

12

InchonINC(Songshan)
Taipe i( Ta oy uan)Austra lia

Paris

1

CAN

Taipe i

London

PVG

8

Gua ngzhou

Kore aTaiwanSHA

Slots/day

Sydney

1
2

TSA

8

TPE

2

SYD

2

Southea st Asia

Frankfurt

Vancouver

MunichBeijing
Gimpo
Tianjin
Jinan
InchonShanghai (Pudong)
Doha

Minneapolis
San Francisco

HanedaLos Angeles

Shanghai (Hongqiao)
Dubai

Taipei (Songshan)
Guangzhou
Hanoi
Hong Taipei (Taoyuan)
Kong
Bangkok
ManilaHo Chi Minh City

Honolulu

Kona

Hanoi

HAN

2

Ho Chi M inh City

SGN

1Singapore

Singa pore

SIN

Philippine s

ManilaMNL

Indone sia

Ja karta

CGK

Thaila nd

Ba ngkok

BKK

Malay sia

Kua la Lumpur

KUL

2

F ra nce

Paris

CDG

4

United Kingdom

LondonLHR

3F ra nkfurt

FRA

MunichMUC

2

Vancouve r

YVR

1TorontoYYZ

1Honolulu

HNL

Kona

KOA

1

San F ra ncisco

SFO

2

Los Angele s

LAX

3

New York

JFK

2Minne apolis

MSP

1

ChicagoORD

1
1

Vietna m

Toronto
ChicagoNew York

5
2
2
1
2
3
3

EuropeKuala Lumpur
Singapore
Jakarta

Ge rma ny

2
1

North Ame rica
CanadaSydneyAme rica

6:00–23:00

1

Middle East

23:00–6:00
Both daytime flight and late night/early morning flight hours

2

UAE

Duba iDXB

Qa ta rDoha

DOXInternational departures total

48

1
116

(As of May 2017)

２．Summary of Tokyo International Airport (Haneda)(6) Summary of Tokyo International Air Terminal Corporation
1. Company Name Tokyo International Air Terminal Corporation

Company History
April 2005

Japanese government announced policy to launch businessprojects in the international flight zone of Tokyo International
Airport
PFI approaches to be implemented revealed based on division ofbusinesses in international flight zone into 3 categories:
passengers, freight and apron

July 2005

Formation of “HKT Group”

April 2006

“HKT Group” businesses and candidates selected

June 2006

Tokyo International Air Terminal Corporation established as a
special purpose company (SPC)

July 2006

Entered business contract with Japanese government

May 2008

Construction of international passenger terminal launched

October 2010

Commenced operation of Tokyo International Airport
international passenger terminal

November 2012

Construction to expand international passenger terminal andother areas commenced

March 2014

Began temporary operation of expanded section of international
passenger terminal building

August 2014

Began operation of “Haneda Nihonbashi Bridge” “TIAT SKY
HALL” and other facilities

September 2014

Began permanent operation of expanded section of international
passenger terminal building
Began joint use of exclusive gate for hotel wing and business jet
exclusive gate

October 2015

Increased China flight routes during daytime hours by 12 flights

January 2016

Launched urban duty-free shop drop-off counter service

October 2016

Increased North America flight routes during daytime hours by
10 flights (including migration from late night and early morning
hours)

2. Date Founded

June 20, 2006

3. Headquarters Location
Haneda Airport, Ota-ku, Tokyo
4. Capital
5. Businesses

9.0 billion yen
Maintenance and management of the terminalbuilding in the international section of Tokyo
International Airport
6. Representative Katsuji Doi, President (Former Vice Presidentof Japan Airport Terminal Co., Ltd.)
7. Composition of Shareholders
Japan Airport Terminal Co., Ltd. (38.78%)
Japan Airlines Corporation (19.36%)
ANA HOLDINGS INC. (19.36%)
Narita International Airport Corporation(4.5%)TEPCO Energy Partner, Incorporated (3.5%)
SECOM Co., Ltd. (3.0%)
Tokyo Gas Co., Ltd. (3.0%)
Keihin Electric Express Railway Co., Ltd.
(2.0%)
Tokyo Monorail Co., Ltd. (2.0%)
NTT Data Corporation (1.5%)
Development Bank of Japan Inc. (1.0%)
Mizuho Corporate Bank Ltd. (1.0%)
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
(1.0%)
8. 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.

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

49

Japan Airport Terminal Co., Ltd.

Notes regarding projections
Items such as plans, targets, policies, strategies, decisions, financial
forecasts, future figures and monetary amounts in this presentationthat is not historical data are projections of the future. These arebased 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
requests you to make own decision regarding investments.

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