Note: 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.

Financial Report for the Year Ended March 31, 2022 (FY2021) [J-GAAP] (Consolidated)
May 12, 2022

Company name:
Japan Airport Terminal Co., Ltd. (“the Company”)
Listed stock exchange: Tokyo, Prime Market
Code number:
9706
URL: https://www.tokyo-airport-bldg.co.jp/en/
Representative:
Nobuaki Yokota, President and COO
Contact:
Kazuhito Tanaka, Senior Managing Director TEL 03-5757-8409
Scheduled date of annual general meeting of shareholders:June 24, 2022
Scheduled date of filing securities report:
June 24, 2022
Scheduled date of commencing dividend payment:
Supplementary materials on financial results (yes/no):Yes
Holding of investors’ meeting (yes/no):Yes (for institutional investors and financial analysts)(Figures are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the Year Ended March 31, 2022 (April 1, 2021 to March 31, 2022)(1) Consolidated Business Results(%: Change from the previous period)
Net income/(loss)
Operating revenues
Operating income/(loss)
Ordinary income/(loss)
attributable to owners of
the parent

%
-79.0

Millions of yen

FY2021
FY202057,05752,572%-Millions of yen(41,255)(59,020)(Note) Comprehensive income/loss: FY2021 ¥-39,533 million (-%)

(43,861)(57,320)%-

Millions of yen(25,217)(36,578)

FY2020 ¥-62,212 million (-%)

Net income/(loss)
per share
Yen

Diluted net income
per share
Yen(270.75)(445.92)-

FY2021
FY2020%-Millions of yen%

Ordinary income tototal assets%

Operating income tooperating revenues
%

-15.2
-21.5

-8.9
-11.0

-72.3
-112.3Return on equity(Reference) Equity in gains/losses of affiliates: FY2021 ¥-1,611 million
FY2020 ¥-1,652 million(Note) As the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29 March 31, 2020) and relevant revised ASBJ regulations are
adopted from the beginning of FY2021, the consolidated financial results for FY2021 are those after the adoption of such accounting standards and therate of change from the previous fiscal year is not stated.

(2) Consolidated Financial Position
Total assets

Equity capital tototal assets

Net assets

Net assets per share

Millions of yen

Millions of yen%

Yen

463,878
519,193

156,009
195,54433.2
34.3

1,655.32
1,910.83

As of March 31, 2022
As of March 31, 2021

(Reference) Equity capital: As of March 31, 2022 ¥154,170 million
As of March 31, 2021 ¥177,968 million(Note) As the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29 March 31, 2020) and relevant revised ASBJ regulations are
adopted from the beginning of FY2021, the consolidated financial results for FY2021 are those after the adoption of such accounting standards.

(3) Consolidated Cash Flows
Cash flows from operating
activities

Cash flows from investing
activities

Cash flows from financing
activities

Cash and cash equivalents
at the year-end

Millions of yen

Millions of yen

Millions of yen

Millions of yen(9,305)(4,387)(4,926)(25,268)(9,035)78,22897,128120,355

FY2021
FY20202. Dividends

Total
dividends(annual)Dividends per share

FY2020
FY2021
FY2022(Forecast)

Dividend
payout ratio(consolidated)

Dividends on
net assets(consolidated)

Q1-EndQ2-EndQ3-EndYear-end

Annual

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%

-

0.00
0.00

-

0.00
0.00

0.00
0.00

-

-

-

-

-

-

-

-

-

(Note) We have decided to postpone the announcement of the outlook for dividend payment for the fiscal year ending March 31, 2023.

3. Forecast of Consolidated Financial Results for the Year Ending March 31, 2023 (April 1, 2022 to March 31, 2023)(%: Change from the same period of the previous year)

Operatingincome/(loss)

Operating revenues

Net
income/(loss)
per share

Net income/(loss)
attributable to ownersof the parent

Ordinary
income/(loss)

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

45,400105,600

75.7
85.1(10,500)(16,600)-(11,000)(18,100)-(4,000)(5,700)-(42.95)(61.20)First half
Full-year

Other Information(1) Significant changes in subsidiaries during the year under review (changes in specified subsidiaries involving changes in scope of
consolidation): No(2) Changes in accounting policies, accounting estimates, and restatement of revisions
1) Changes in accounting policies due to revisions of accounting standards, etc.: Yes
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Restatement of revisions: None
(Note) For details, please refer to page 21 of the appendix materials “3. Consolidated Financial Statements and Notes (5) Notes
on Consolidated Financial Statements: Changes in Accounting Policies”.
(3) Number of shares outstanding (common stock)1) Number of shares outstanding at the year-end (including treasury stock):
As of March 31, 2022
93,145,400 shares
As of March 31, 2021
2) Number of treasury stock at the year-end:
As of March 31, 2022
8,737 shares
As of March 31, 2021
3) Average number of shares outstanding during the period:
Year ended March 31, 2022
93,136,710 sharesYear ended March 31, 2021
(Reference) Summary of Non-Consolidated Financial Results
Financial Results for the Year Ended March 31, 2022 (April 1, 2021 to March 31, 2022)(1) Non-Consolidated Business Results
Operating revenues
Millions of yen

FY2021
FY202053,16653,178Operating income/(loss)

%
-69.5

(5,543)(15,946)

Millions of yen(4,485)(15,827)

Net income/(loss) per share

Diluted net income per share

Yen

Yen

(47.09)(145.45)-

FY2021
FY20208,595 shares
82,029,456 shares(%: Change from the previous period)

Ordinary income/(loss)%-

Millions of yen

93,145,400 shares

Net income/(loss)

%
-

%
-

Millions of yen(4,385)(11,931)(Note) As the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29 March 31, 2020) and relevant revised ASBJ regulations are
adopted from the beginning of FY2021, the financial results for FY2021 are those after the adoption of such accounting standards and the rate ofchange from the previous fiscal year is not stated.

(2) Non-Consolidated Financial Position
Total assets

As of March 31, 2022
As of March 31, 2021
(Reference) Equity capital:

Net assets

Equity capital tototal assets

Net assets per share

Millions of yen

Millions of yen%

Yen

296,480
320,019

139,115
142,97946.9
44.7

1,493.67
1,535.16

As of March 31, 2022

¥139,115 million

As of March 31, 2021 ¥142,979 million(Note) As the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29 March 31, 2020) and relevant revised ASBJ regulations are
adopted from the beginning of FY2021, the financial results for FY2021 are those after the adoption of such accounting standards.

* This financial report is not subject to audits by certified public accountants or auditing firms.
* Statements regarding the proper use of financial forecast and other special remarks
Notes on the use of forward-looking statements
The forecast of the business results reported herein was prepared based on information the Company had in its possession as of thetime this report was prepared and on certain assumptions judged to be reasonable. The Company makes no guarantee that thesefigures will be achieved. Actual results may differ significantly from forecasts due to various factors. For the assumptions used infinancial forecasts and precautionary statements regarding the use of the forecasts, please refer to page 8 of the appendix materials “1.
Analysis of Business and Financial Results (4) Forecast for FY 2022 (the fiscal year ending March 31, 2023)”.
Supplementary materials on financial results and details of presentation at investors’ meeting
Investors’ meeting is planned to be held on May 18, 2022 for financial analysts. Presentation materials used in the investors’
meeting will be promptly posted on the Company’s website following the meeting.

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

Contents of the Appendix Materials
1.

ANALYSIS OF BUSINESS AND FINANCIAL RESULTS ..................................................................... - 2 -(1) ANALYSIS OF CONSOLIDATED BUSINESS RESULTS FOR FY 2021 ............................................................. - 2 (2) ANALYSIS OF CONSOLIDATED FINANCIAL POSITION FOR FY 2021........................................................... - 7 (3) ANALYSIS OF CONSOLIDATED CASH FLOWS FOR FY 2021 ....................................................................... - 7 (4) FORECAST FOR FY 2022 (THE FISCAL YEAR ENDING MARCH 31, 2023) ................................................... - 8 (5) BASIC POLICY ON DISTRIBUTION OF PROFITS AND DIVIDEND PAYMENT FOR FY2021/FY2022............... - 8 2.

BASIC APPROACH ON SELECTION OF ACCOUNTING STANDARDS ............................................ - 8 -3.

CONSOLIDATED FINANCIAL STATEMENTS AND MAIN NOTES ................................................... - 9 -(1) CONSOLIDATED BALANCE SHEETS ........................................................................................................... - 9 (2) CONSOLIDATED STATEMENTS OF INCOME AND CONSOLIDATED STATEMENTS OFCOMPREHENSIVE INCOME ....................................................................................................................... - 11 Consolidated Statements of Income ............................................................................................................ - 11 Consolidated Statements of Comprehensive Income ..................................................................................... - 13 (3) CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY .............................................. - 14 (4) CONSOLIDATED STATEMENTS OF CASH FLOWS ...................................................................................... - 16 (5) NOTES ON THE CONSOLIDATED FINANCIAL STATEMENTS...................................................................... - 18 (Notes on the Premise of a Going Concern) ................................................................................................ - 18 (Basic Important Conditions to Prepare Consolidated Financial Statements) ................................................. - 18 (Changes in Accounting Policies) ............................................................................................................... - 21 (Notes on Consolidated Balance Sheets) ..................................................................................................... - 23 (Notes on Consolidated Statements of Income) ............................................................................................ - 26 (Notes on Consolidated Statements of Cash Flows) ..................................................................................... - 27 (Segment Information) .............................................................................................................................. - 28 (Per Share Information) ............................................................................................................................ - 31 (Significant Subsequent Events) ................................................................................................................. - 31 4.

OTHERS ......................................................................................................................................... - 32 --1-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

1. Analysis of Business and Financial Results(1) Analysis of Consolidated Business Results for FY 2021
During the fiscal year ended March 31, 2022 (“FY2021”), the Japanese economy showed signs ofrecovery, while the difficult situation caused by the new Coronavirus infection (“COVID-19”) gradually
improved. Looking ahead, it is expected that the recovery trend will continue, resulting from the effects ofvarious policies and improving overseas economies, while thorough measures are taken to prevent the spreadof the infection and social as well as economic activities return to a normal state. However, it is necessary to
pay close attention to downside risks due to an increase in raw material prices, volatility in the financial andcapital markets, and restrictions on supply chain networks, among other factors, amid uncertainties caused by
the situation in Ukraine. We also must continue to prudently monitor the impact of COVID-19.
Under these economic conditions, in the airline industry, domestic flight demand fell again due to thereapplication of stricter measures to prevent the spread of COVID-19 to Tokyo and other cities in January2022 as a result of the rebound in COVID-19 cases. Although the number of passengers on domestic flights at
Haneda Airport for the full year increased by 38% year-on-year, it is 57% less compared to FY2019, which
was before the impact of COVID-19 became more severe. As for international flights, the border control
measures that were strengthened in November 2021 are being gradually eased since March 2022, but demandremains at a low level. Although the number of passengers on international flights at Haneda Airport for thefull year increased by 100% year-on-year, it decreased by 95% compared to FY2019.
Under these circumstances, the Japan Airport Terminal Group (“JAT Group”) has taken measures atvarious locations within the terminal buildings in accordance with the “Guidelines for Prevention of the
Spread of COVID-19 in the Aviation Field” (jointly prepared by the Scheduled Airlines Association of Japanand the All Japan Airport Terminal Association) to prevent the spread of COVID-19 and ensure the safety andsecurity of airport users. In addition to the provision of pre-entry PCR testing space for the Japanese
government at Terminal 3, we have also established PCR testing facilities for departing passengers at
Terminals 1 and 2 (Kinoshita Group Co., Ltd.) and Terminal 3 (Toho University Haneda Airport Terminal 3
Clinic).
In terms of facilities, we have been taking initiatives, including renovating specific ceilings (a type of
ceiling that is specified by the Minister of Land, Infrastructure, Transport and Tourism as one that is likely tocause serious harm if it falls) and completed the installation of recharging facilities with built-in storage
batteries in March 2022 in preparation for large-scale natural disasters. In addition, we launched the Haneda
Robotics Lab in 2016, where we have been promoting the demonstration, development, and introduction ofvarious robots. As part of such efforts, we expanded the service coverage of “WHILL”, a personal mobility
vehicle equipped with autonomous driving technology, to all departure gates at domestic flights in July 2021
and the service is being used by many customers. At international flights, the “Face Express” system, which
implements face recognition technology, was put into full-scale operation and a dedicated facility for business
jets, which is five times the size of the existing business jet facility, was also put into service. In response to
the decrease in demand due to COVID-19, we are working to curb facility maintenance and management costsby reviewing the nature of our operations and efficiently utilizing human resources, among other measures.
However, due in part to the investments we have made in functional enhancements for international flights,
disaster prevention measures, and barrier-free access for domestic flights, we revised the passenger service
facility charge in March 2022. We are working to turn Haneda Airport into a smart airport, in anticipation of
the end of the pandemic, by introducing initiatives that function as enhanced infection prevention measuresthrough contactless and non-face-to-face interaction in addition to improved safety and convenience.
On the sales front, while passenger traffic is recovering, especially on domestic flights, we are making
efforts to capture demand as we opened official stores in Terminals 1 and 3 during last year’s Tokyo Olympics
and Paralympics and started to operate “Hokkaido Dosanko Plaza Haneda Airport”, an official Hokkaido
antenna store with a dine-in space for light meals and beverages. In the e-commerce business, we launched“Haneda Sanchoku Selection”, a website that sells selected products from Hokkaido directly from theproduction area. We are also taking initiatives to promote the link to actual stores, such as expanding our
popular in-flight meal sets to include new menu items and other products and selling them at our airport stores.
In addition, we have begun to sell and lease robots and operation systems installed at Haneda Airport in a
package to airports, office buildings, and commercial facilities in Japan and overseas. Moreover, in October
2021, we held Japan’s first art auction using bonded warehouse space at Terminal 1, leveraging the JATGroup’s experience with respect to customs management. The second auction was held in March 2022. We arealso offering Terminal 2 international flight facility as a filming location for movies and television dramas, aswell as for various event venues.
With respect to our efforts to address environmental issues, in February 2022, a target for each airport to
reduce greenhouse gas emissions by 46% or more from the levels in 2013 by 2030 was presented at the study
group of the Ministry of Land, Infrastructure, Transport and Tourism on CO2 reduction in the airport sector.
Haneda Airport is working to achieve the reduction target, in which the Tokyo International Airport
Eco-Airport Council (“Council”) plays a central role. Haneda Airport has already achieved the obligation to-2-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

reduce the total amount of greenhouse gas emissions imposed by the Tokyo Metropolitan Government throughvarious efforts, including the use of LED lighting in its buildings and other measures. We will continue tomake every effort to meet the 2030 reduction target and achieve “carbon-neutral in 2050” as a member of theCouncil in cooperation with other businesses active at Haneda Airport.
With respect to enhancing our governance structure, our Board of Directors resolved in December 2021
to change the Company to a company with an Audit and Supervisory Committee, subject to approval at theGeneral Meeting of Shareholders this year. The Audit and Supervisory Committee, the majority of whose
members are outside directors, will be responsible for auditing and supervising the legitimacy andappropriateness of business execution, thereby realizing more transparent management and building a
structure that can more accurately meet the expectations of domestic and international stakeholders. In
addition, by delegating the authority of the Board of Directors to make decisions on business execution to eachdirector, we aim to further accelerate management decision-making and execution under the appropriate
supervision of the Board of Directors.
Haneda Airport’s passenger terminals have been awarded the world’s highest standard “5-star Airport”
rating for six consecutive years in the SKYTRAX “Global Airport Rating”, an international airport evaluation.
In addition, in the customer survey evaluating international airports, we were awarded first place in the “BestAirports in Asia” as the first airport in Japan, and second place globally, for the third consecutive year in the“World’s Best Airports”, which comprehensively evaluates various aspects of international airports. Furthermore,
we were awarded first place in the “World’s Cleanest Airports” (for the sixth consecutive year), “World’s Best
Domestic Airports” (for the ninth consecutive year), and “World’s Best PRM / Accessible Facilities” (for thethird consecutive year). Haneda Airport also became the first airport in Japan to receive the highest rating
globally of 5-stars in the “COVID-19 Airport Safety Rating”, an evaluation with respect to the measuresprotecting against COVID-19 infection. In addition, the Company was selected as one of the Tokyo
Metropolitan Government’s “Barrier-Free Mindset” case studies in recognition of our efforts to provide
facilities and services that reassure a wide range of users and deepen the understanding of those users,
including the introduction of “Calm Down, Cool Down Space”, guidance by concierges certified as care-fitters,
and training by experts for all airport employees.
As a result of the above, with respect to the financial results for the fiscal year ended March 31, 2022,
operating revenues was ¥57,057 million primarily due to the increase in facility user charges revenue comparedto the previous year, driven by the gradual recovery of passenger volume on domestic and international flights.
Despite the recovery in revenue and sustained cost reduction from the previous fiscal year, operating loss was¥41,255 million, ordinary loss was ¥43,861 million, and net loss attributable to owners of the parent was¥25,217 million.
As the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29 March 31, 2020) andrelevant revised ASBJ regulations are adopted from the beginning of FY2021, the above explanation does notstate the rate of change (%) from the previous fiscal year. For details, please refer to “3. Consolidated
Financial Statements and Notes (5) Notes on Consolidated Financial Statements: Changes in Accounting
Policies and Segment Information”.
(Millions of yen)

Operating Results

FY2020(from April 1, 2020 toMarch 31, 2021)

Operating revenues[Facilities Management][Merchandise Sales][Food and Beverage]
Operating income / (loss)
Ordinary income / (loss)
Net income/(loss) attributable toowners of the parent

FY2021(from April 1, 2021 toMarch 31, 2022)

Year-on-Year(%)

52,57235,917
13,6572,998(59,020)(57,320)

57,05740,02913,174
3,852(41,255)(43,861)-(36,578)(25,217)-

In recent months, demand for domestic flights has been recovering rapidly following the full lifting ofstricter measures to prevent the spread of COVID-19 in March. On the other hand, although demand forinternational flights is improving for foreign students and business travelers due to the easing of border control
measures, the situation remains challenging due to uncertainties in the global economy, including the situationin Ukraine. As a listed company in the Tokyo Stock Exchange Prime Market, the JAT Group places thepromotion of sustainability at the core of its business strategy and is committed to further improving governance-3-Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

and management efficiency. We will work to enhance the value of Haneda Airport, the gateway to Japan and thegreater Tokyo area, by further improving the convenience, comfort, and functionality of the Haneda Airport
Passenger Terminal as well as by ensuring the safe and smooth entry, exit, and transportation of all customers.
The following is a breakdown of earnings / (loss) by segment. Note that the figures for operating income /(loss) are equivalent to those for segment income / (loss).

-4-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

Overview by Segment[Facilities Management](Millions of yen)

Operating Results

FY2020(from April 1, 2020 toMarch 31, 2021)

Sales to external customers
Rent revenue
Facility user charges revenue
Other revenues
Intersegment sales and transfers
Total of Operating Revenues
Segment income / (loss)

35,917
17,712
7,644
10,5601,614
37,532(36,283)

FY2021(from April 1, 2021 toMarch 31, 2022)

Year-on-Year(%)

40,02918,543
10,53910,946
1,982
42,012(24,863)-

Rent revenue increased from the previous year primarily due to the increase in the provision of rental
space for PCR testing before entry for international flights.
Revenue from facility user charges increased from the previous year primarily due to the increase in thepassenger service facility charge driven by the recovery in passenger volume.
Other revenues increased from the previous year primarily due to the increase in paid lounge sales andparking revenue despite the decrease in advertising revenue in domestic and international flights.
As a result, operating revenues from facilities management operations was ¥42,012 million. Operating
loss for the segment was ¥24,863 million.

[Merchandise Sales](Millions of yen)

Operating Results

FY2020(from April 1, 2020 toMarch 31, 2021)

Sales to external customers
Sales at domestic terminal stores
Sales at international terminal
storesOther revenues
Intersegment sales and transfers
Total of Operating Revenues
Segment income / (loss)

FY2021(from April 1, 2021 toMarch 31, 2022)

Year-on-Year(%)

13,657
8,559

13,174
5,166

-

2,751

4,242

-

2,345
779
14,436(11,322)

3,765
769
13,944(6,134)-

Sales at domestic terminal stores increased from the previous year because of the recovery in domestic
passenger volume, but the amount of revenue recognized was lower than the previous year due to the impactof adopting the “Accounting Standard for Revenue Recognition” from FY2021.
Sales at international terminal stores increased from the previous year due to the increase in international
passenger volume at Haneda Airport, Narita Airport and other airports.
Other revenues increased from the previous year because of the increase in revenue for the wholesaling
business.
As a result, operating revenues from merchandise sales operations was ¥13,944 million and operating loss
for the segment was ¥6,134 million.

-5-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)[Food and Beverage](Millions of yen)

Operating Results

FY2020(from April 1, 2020 toMarch 31, 2021)

Sales to external customers
Sales from food and beverage
storesSales from in-flight meals
Other revenues
Intersegment sales and transfers
Total of Operating Revenues
Segment income / (loss)

FY2021(from April 1, 2021 toMarch 31, 2022)

Year-on-Year
(%)

2,998

3,852

-

2,363

2,790

-

365
269
1,093
4,091
(4,150)

730
332
796
4,649
(3,091)-

Sales from food and beverage operations increased from the previous year primarily due to the recovery indomestic passenger volume.
Sales from in-flight meals increased from the previous year primarily due to the recovery in passenger
volume of the foreign carriers, our clients in this business.
As a result, operating revenues from food and beverage operations was ¥4,649 million and operating loss
for the segment was ¥3,091 million.

-6-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(2) Analysis of Consolidated Financial Position for FY 2021
[Assets]
Current assets decreased by ¥29,538 million from the previous fiscal year end to ¥113,868 million. Thisis primarily due to the decrease in cash and deposits as a result of the redemption of bonds with stockacquisition rights at maturity. Fixed assets decreased by ¥25,775 million from the previous fiscal year end to¥350,010 million primarily due to depreciation.
As a result, total assets decreased by ¥55,314 million from the previous fiscal year end to ¥463,878
million.
[Liabilities]
Current liabilities decreased by ¥22,246 million from the previous fiscal year end to ¥36,847 million
primarily due to the redemption of bonds with stock acquisition rights at maturity. Fixed liabilities increasedby ¥6,466 million from the previous fiscal year end to ¥271,021 million primarily due to long-term loansraised by Tokyo International Air Terminal Corporation (TIAT).
As a result, total liabilities decreased by ¥15,779 million from the previous fiscal year end to ¥307,869
million.
[Net assets]
Total net assets decreased by ¥39,534 million from the previous fiscal year end to ¥156,009 million. Thisis primarily due to the decrease in retained earnings and non-controlling interests by booking net loss for theyear despite the increase in accumulated other comprehensive income.
As a result, the equity ratio was 33.2% (compared to 34.3% at the previous fiscal year end).
(3) Analysis of Consolidated Cash Flows for FY 2021
Cash and cash equivalents at the end of FY2021 decreased by ¥23,226 million compared to the previous
fiscal year end to ¥97,128 million.
The following is a summary of cash flows and the factors behind these flows for FY2021.
[Cash flows from operating activities]
With respect to cash flows from operating activities, cash outflow increased by ¥4,917 million from theprevious fiscal year (up 112.1% year-on-year), resulting in a cash outflow of ¥9,305 million.
This was primarily due to the decrease in other current liabilities.
[Cash flows from investing activities]
With respect to cash flows from investing activities, cash outflow decreased by ¥20,341 million from theprevious fiscal year (down 80.5% year-on-year), resulting in a cash outflow of ¥4, 926 million.
This was primarily due to the decrease in expenditures for the acquisition of tangible fixed assets.
[Cash flows from financing activities]
Cash flows from financing activities decreased by ¥87,263 million from the previous fiscal year (¥78,228
million cash inflow for the previous fiscal year), resulting in a cash outflow of ¥9,035 million.
This was primarily due to cash outflow from the redemption of convertible bonds.

-7-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(4) Forecast for FY 2022 (the fiscal year ending March 31, 2023)
As society moves toward recovery from the impact of COVID-19, the airline industry is also expected tosee a recovery in demand, especially for domestic flights.
At Haneda Airport, demand for domestic flights is expected to recover to near pre-COVID-19 levels
during the first half of FY2022, driven by tourism demand. On the other hand, international flights are expected
to take time to fully recover, although entry restrictions are gradually being eased in many countries.
Under this environment, we will maintain the cost-cutting measures that we implemented during the
pandemic in terminal operations and on the sales front, we will utilize digital marketing to capture passenger
demand to recover our business performance. In addition, with an eye toward accommodating future passenger
growth and further improving passenger convenience, we are working on the construction of a new northsatellite terminal at Terminal 1 and a connection between the main building and the satellite terminal at
Terminal 2 in order to improve the functionality of Haneda Airport.
The expected earnings by segment are as follows.
For the Facility Management business, operating revenue is expected to increase from the previous year
primarily due to an increase in revenue from facility user charges driven by the recovery in passenger volume.
For the Merchandise Sales business and the Food and Beverage business, operating revenue is expected toincrease from the previous year, due to an increase in merchandise sales and food and beverage sales resulting
mainly from a recovery in the number of passengers on domestic flights and international flights at Haneda
Airport.
As a result, for FY2022, we forecast operating revenue of ¥105,600 million (up 85.1% year-on-year).
Due to the delay in recovery of international flights, we forecast operating loss of ¥16,600 million (compared tooperating loss of ¥41,255 million during FY2021), ordinary loss of ¥18,100 million (compared to ordinary lossof ¥43,861 million during FY2021), and net loss attributable to owners of the parent of ¥5,700 million(compared to net loss attributable to owners of the parent of ¥25,217 million during FY2021).
(5) Basic Policy on Distribution of Profits and Dividend Payment for FY2021/FY2022
We consider the return of profits to our shareholders to be one of our most important management
priorities. Our basic policy is to work on management with a more proactive stance, strive to improve ourbusiness performance, secure internal reserves in consideration of large-scale investments such as the renewalof passenger terminal building facilities in line with the functional expansion of Haneda Airport, and at thesame time, maintain stable dividend payments.
Our business performance has been severely impacted by COVID-19, which resulted in a net loss for thesecond consecutive fiscal year. Although the outlook remains uncertain, we will maintain our basic policy andwill strive to return to profitability as soon as possible.
We decided to postpone the announcement of the year-end dividend for FY2021 at the time of theannouncement of the financial results for the fiscal year ended March 31, 2021. After a comprehensive review
based on the current business environment and the dividend distribution policy mentioned above, as we
believe that securing liquidity on hand is of utmost importance, we have decided not to distribute a dividendfor FY2021, although we strongly regret doing so.
Although we have decided to postpone the announcement of the outlook for dividend payment for
FY2022, based on the above policy we will make such announcement after taking into account the businessenvironment and performance in the future.

2.

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

-8-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

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

ASSETS
Current assets
Cash and deposits
Accounts receivable
Securities
Merchandise and finished products
Raw materials and stored goods
Other current assets
Allowance for doubtful accounts
Total current assets
Fixed assets
Tangible fixed assets
Buildings and structures
Accumulated depreciation and impairment loss
Buildings and structures (net)
Machinery, equipment and vehicles
Accumulated depreciation and impairment loss
Machinery, equipment and vehicles (net)Land
Lease assets
Accumulated depreciation and impairment loss
Lease assets (net)
Construction in progress
Other tangible fixed assets
Accumulated depreciation and impairment loss
Other tangible fixed assets (net)Total tangible fixed assets
Intangible fixed assets
Leasehold right
Other intangible fixed assets
Total intangible fixed assets
Investments and other assets
Investment securities
Deferred tax assets
Net defined benefit assets
Other investments
Total investments and other assets
Total fixed assets
TOTAL ASSETS-9-

FY2020(As of March 31, 2021)

FY2021(As of March 31, 2022)

120,355
5,272
9,658
249
7,944
(73)
143,407

57,1285,408
40,000
5,364
271
5,756
(60)
113,868

557,609(301,148)
256,460
37,073(17,939)
19,133
12,874
3,530(1,111)
2,418
1,626
67,643(54,833)
12,810305,324

560,906(323,206)
237,700
36,022(20,325)
15,696
12,874
3,533(1,591)
1,941
1,467
67,977(57,711)
10,265279,945

33,361
3,756
37,11731,516
2,872
34,38816,43012,414945
3,553
33,343375,785
519,193

18,293
12,8771,013
3,491
35,676350,010
463,878

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(Millions of yen)

LIABILITIESCurrent liabilities
Accounts payable
Short-term loans payable
Current portion of bonds with stock acquisitionrights
Accrued expenses
Income taxes payable
Allowance for employees’ bonuses
Allowance for loss on store closing
Other current liabilities
Total current liabilities
Fixed liabilities
Bonds
Long-term loans payable
Lease obligations
Deferred tax liabilities
Allowance for directors’ retirement benefits
Net defined benefit liabilities
Asset retirement obligations
Other fixed liabilities
Total fixed liabilities
TOTAL LIABILITIESNET ASSETS
Shareholders’ equity
Common stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
TOTAL NET ASSETSTOTAL LIABILITIES AND NET ASSETS- 10 -FY2020(As of March 31, 2021)

FY2021(As of March 31, 2022)

1,274
16,612

1,956
15,62615,009-14,523
573
1,176
575
9,347
59,093

8,782
483
1,073
8,925
36,84754,983
175,842
2,082
16,740
71
4,486
613
9,735
264,555
323,648

55,287
184,153
1,596
15,660
68
4,761
620
8,873
271,021
307,869

38,12654,16086,060(8)
178,338

38,12654,16060,843(9)
153,120

1,855

2,526

(1,836)
19
(408)
(369)
17,575
195,544
519,193(1,115)
66
(426)
1,050
1,838
156,009463,878

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income(Millions of yen)

FY2020(from April 1, 2020
to March 31, 2021)
Operating revenues
Rent revenue
Facility user charges revenue
Other revenues
Sale of merchandise
Sale of food and beverage
Total operating revenues
Cost of sales
Cost of sales of merchandise
Cost of sales of food and beverage
Total cost of sales
Gross profit
Selling, general and administrative expenses
Salaries and wages
Provision for employees’ bonuses
Expenses for retirement benefits
Rent expenses
Outsourcing and commission
Depreciation expenses
Other costs and expenses
Total selling, general and administrative expenses
Operating income (loss)
Non-operating income
Interest income
Dividends income
Contributions in aid of construction
Subsidy income
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Share issuance costs
Fee and commission expenses
Loss on retirement of fixed assets
Equity in losses of affiliates
Provision for loss on store closings
Miscellaneous expenses
Total non-operating expenses
Ordinary income (loss)- 11 -FY2021(from April 1, 2021
to March 31, 2022)

17,712
7,645
10,63813,543
3,032
52,572

18,543
10,541
10,98913,155
3,827
57,057

11,983
3,114
15,09737,475

7,635
2,968
10,60446,453

11,017925
977
11,73012,02734,31025,50696,495(59,020)

10,201
583
921
8,762
11,33831,71524,18687,709(41,255)

2,433
227
180
3,331
1,435
7,607

23
62
94
2,707
777
3,665

2,289
308
117
839
1,652
575
124
5,908
(57,320)

2,744
1,510
310
1,611
93
6,271
(43,861)

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(Millions of yen)

FY2020(from April 1, 2020
to March 31, 2021)
Extraordinary gains
Gains on sales of fixed assets
National subsidies
Gains on sale of investment securities
Total extraordinary gains
Extraordinary loss
Impairment loss
Loss on valuation of investment securities
Loss on reduction entry of fixed assets
Other extraordinary loss
Total extraordinary loss
Income (loss) before income taxes and non-controllinginterests
Income taxes – current
Income taxes for prior periods
Income taxes – deferred
Total income taxes
Net income (loss) before non-controlling interests
Net income (loss) attributable to non-controlling interests
Net income (loss) attributable to owners of the parent- 12 -FY2021(from April 1, 2021
to March 31, 2022)

11
5,480
3,504
8,995

1,422
321
1,744

1,097
5,388
8
6,494

52
1,388
1,441

(54,819)(43,558)

108
166
865
1,140
(55,960)(19,381)(36,578)

7(1,947)(1,939)(41,618)(16,401)(25,217)

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

Consolidated Statements of Comprehensive Income(Millions of yen)

Net income (loss) before non-controlling interests
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains (losses) on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Share of other comprehensive income of associates
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:Comprehensive income attributable to owners of theparentComprehensive income attributable to non-controllinginterests- 13 -FY2020(from April 1, 2020
to March 31, 2021)(55,960)

FY2021(from April 1, 2021
to March 31, 2022)(41,618)(1,780)(4,795)
(18)
317

669
1,413
46
(47)

24

2

(6,252)(62,212)2,084(39,533)(40,523)(23,797)(21,688)(15,736)Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(3) Consolidated Statements of Changes in Shareholders’ Equity
FY2020 (from April 1, 2020 to March 31, 2021)(Millions of yen)
Shareholders’ equity

Balance at the beginning of current period

Common stock

Capital surplus

17,48921,337

20,637

20,637Retainedearnings

Treasury stock

123,451(3,248)

Total
shareholders’equity159,029

Changes during current period
Issuance of new shares
Dividend from retained earnings
Net income (loss) attributable to ownersof the parent
Purchase of treasury stock
Disposal of treasury stock

41,274
(812)

(812)

(36,578)(36,578)

12,184

(1)

(1)

3,241

15,426

Changes in ownership interest in subsidiaries-

Changes of items other than shareholders’equity during current period (net)-Total changes during current period

20,63732,822(37,390)

3,239

19,308

Balance at the end of current period

38,12654,16086,060(8)

178,338

Accumulated other comprehensive income
Deferred gains
or losses onhedges

3,637

609(1,782)(2,445)(18)300(3,945)

Total changes during current period(1,782)(2,445)(18)300(3,945)

Balance at the end of current period

1,855(1,836)

19

(408)

(369)

Balance at the beginning of current period

Foreigncurrencytranslation
adjustment

Total
Remeasurements
accumulatedof defined benefit
other
plans
comprehensive
income
37
(708)
3,575

Valuationdifference on
available-for-salesecurities

Changes during current period
Issuance of new shares
Dividend from retained earnings
Net income (loss) attributable to ownersof the parent
Purchase of treasury stock
Disposal of treasury stock
Changes in ownership interest in subsidiaries

Changes of items other than shareholders’equity during current period (net)

Balance at the beginning of current period

Non-controllinginterests
39,294

Total net assets
201,899

Changes during current period
Issuance of new shares

41,274

Dividend from retained earnings
Net income (loss) attributable to ownersof the parent
Purchase of treasury stock(812)(36,578)

Disposal of treasury stock

15,426(1)-

Changes in ownership interest in subsidiaries

Changes of items other than shareholders’equity during current period (net)(21,718)(25,663)

Total changes during current period(21,718)(6,355)

Balance at the end of current period

17,575

195,544- 14 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

FY2021 (from April 1, 2021 to March 31, 2022)(Millions of yen)
Shareholders’ equity

Balance at the beginning of current period

Common stock

Capital surplus

38,12654,160Retainedearnings

Treasury stock

86,060(8)

Total
shareholders’equity178,338

Changes during current period
Issuance of new shares-

Dividend from retained earnings
Net income (loss) attributable to ownersof the parent
Purchase of treasury stock(25,217)(25,217)(0)

Disposal of treasury stock

(0)
-

(0)

Changes in ownership interest in subsidiaries(0)

Changes of items other than shareholders’equity during current period (net)-Total changes during current period-(0)(25,217)(0)(25,217)

Balance at the end of current period

38,12654,16060,843(9)

153,120

Accumulated other comprehensive income

Balance at the beginning of current period

Foreigncurrencytranslation
adjustment

Total
Remeasurements
accumulatedof defined benefit
other
plans
comprehensive
income
19
(408)
(369)

Valuationdifference on
available-for-salesecurities

Deferred gains
or losses onhedges

1,855(1,836)

671

720

46

Changes during current period
Issuance of new shares
Dividend from retained earnings
Net income (loss) attributable to ownersof the parent
Purchase of treasury stock
Disposal of treasury stock
Changes in ownership interest in subsidiaries

Changes of items other than shareholders’equity during current period (net)

(18)

1,420

Total changes during current period

671

720

46

(18)

1,420

Balance at the end of current period

2,526(1,115)

66

(426)

1,050

Balance at the beginning of current period

Non-controllinginterests
17,575

Total net assets
195,544

Changes during current period
Issuance of new shares-

Dividend from retained earnings
Net income (loss) attributable to ownersof the parent
Purchase of treasury stock(25,217)(0)

Disposal of treasury stock(0)

Changes in ownership interest in subsidiaries

Changes of items other than shareholders’equity during current period (net)(15,736)(14,316)

Total changes during current period(15,736)(39,534)

Balance at the end of current period

1,838

156,009- 15 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(4) Consolidated Statements of Cash Flows(Millions of yen)

FY2020(from April 1, 2020
to March 31, 2021)
Cash flows from operating activities
Income (loss) before income taxes and minority interests
Depreciation and amortization
Increase (decrease) in allowance for employees’ bonuses
Increase (decrease) in allowance for directors’ bonuses
Increase (decrease) in net defined benefit liabilities
Decrease (increase) in net defined benefit assets
Interest and dividends income
Subsidy income
Interest expenses
Share issuance costs
Fee and commission expenses
Loss on retirement of tangible fixed assets
Equity in losses (earnings) of affiliates
Increase (decrease) in allowance for loss on store
closings
National subsidy
Loss (gain) on sales of investment securities
Impairment loss
Loss (gain) on valuation of investment securities
Loss on reduction of fixed assets
Decrease (increase) in accounts receivable – trade
Decrease (increase) in inventories
Decrease (increase) in other current assets
Increase (decrease) in accounts payable – trade
Increase (decrease) in other current liabilities
Increase (decrease) in other fixed liabilities
OthersSubtotalInterest and dividends received
Interest paid
Subsidy received
Income taxes refund (paid)
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of investment securities
Purchase of tangible fixed assets
Proceeds from sales of investment securities
Proceeds from sales of tangible fixed assets
Purchase of intangible fixed assets
Payments of long-term loans receivable
Proceeds from national subsidy
Other payments
Other proceeds
Net cash provided by (used in) investing activities- 16 -FY2021(from April 1, 2021
to March 31, 2022)(54,819)
34,403
(459)
(186)
329
(47)
(2,660)(3,331)
2,289
308
117
785
1,652

(43,558)
31,794
(102)
272
(6)
(85)
(2,707)
2,744
1,510
309
1,611

575

-

(5,480)(3,504)
1,097
5,388
3,651
3,678
11,573(1,987)
4,093
(62)
(107)
(2,702)258(3,209)3,331(2,065)(4,387)(1,422)
(321)
52
1,388
(135)
4,272
1,440
681
(7,539)(32)(177)(10,010)73(2,859)2,707
783(9,305)(330)(32,013)3,510
252(1,708)
(100)
5,480
(651)
293
(25,268)(1,044)(5,138)
345
47
(317)
(50)
1,422
(278)
87
(4,926)

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(Millions of yen)

FY2020(from April 1, 2020
to March 31, 2021)
Cash flows from financing activities
Net increase (decrease) of short-term loans payable
Proceeds from long-term loans payable
Repayment of long-term loans payable
Proceeds from issuance of corporate bond
Redemption of convertible bond
Repayments of lease obligations
Proceeds from sale and leaseback transactions
Proceeds from sale of treasury stock
Proceeds from issuance of shares
Dividends paid by parent company
Dividends paid to non-controlling shareholders
OthersNet cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of period
Cash and cash equivalents at the end of period- 17 -FY2021(from April 1, 2021
to March 31, 2022)

400
31,402(13,799)
4,105
(503)
932
15,426
41,135
(812)
(29)
(29)
78,228(100)
20,790(13,856)450(15,000)
(511)
(807)
(9,035)(13)

40

48,55971,795
120,355(23,226)
120,355
97,128

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(5) Notes on the Consolidated Financial Statements(Notes on the Premise of a Going Concern)
There is nothing to report.
(Basic Important Conditions to Prepare Consolidated Financial Statements)
1. Scope of consolidation
1) Number of consolidated subsidiaries: 19 companies
Names of consolidated subsidiaries
Tokyo International Air Terminal Corp.
Tokyo Airport Restaurant Co., Ltd.
Japan Duty Free Fa-So-La Isetan Mitsukoshi Co., Ltd
Haneda Future Research Institute Inc.
Cosmo Enterprise Co., Ltd.
International Trade Inc.
Japan Airport Logitem Co., Ltd.
BIG WING Co., Ltd.
Japan Airport Techno Co., Ltd.
Air BIC Inc.
Haneda Airport Enterprise Co., Ltd.
Haneda Airport Security Co., Ltd.
Haneda Passenger Service Co., Ltd.
Japan Airport Ground Handling Co., Ltd.
Japan Airport Terminal Trading (Chengdu) Co., Ltd.
LANI KE AKUA PACIFIC, INC.
Sakura Co., Ltd.
Hamashin Co., Ltd.
Kaikan Development Co., Ltd.
2) Number of Non-consolidated subsidiaries: 4 companies
Names of Non-consolidated subsidiaries
Tsukizi Hamashin Co., Ltd.
Felix International LLC.
JAT DESIGN INTERNATIONAL INC.
Global Service Corporation
The four non-consolidated subsidiaries are excluded from the scope of consolidation since they are small insize, and their total assets, operating revenues, net income/loss, and retained earnings do not have a significant
impact on the consolidated financial statements.
2. Application of equity method
1) Number of affiliated companies that are accounted for using the equity method: 3 companies
Names of affiliated companies that are accounted for using the equity method
Airport Transport Service Co., Ltd.
Japan Airport Delica Inc.
AGP Corporation
2) The non-consolidated subsidiaries and Seikousha Inc. and ten other affiliated companies are not included in thescope of the application of equity method, since the aggregate amounts corresponding to the shares held by theCompany of those companies’ net income/loss and retained earnings do not have a significant impact on thoseof consolidated financial statements.
3. Fiscal year of consolidated subsidiaries
Of consolidated subsidiaries, Japan Airport Terminal Trading (Chengdu) Co., Ltd. and LANI KE AKUAPACIFIC, INC. end the fiscal year on December 31.
In preparing the consolidated financial statements, the financial statements as of the abovementioned closing date
are used and necessary adjustments arising from important transactions during the period between the closing
date and the consolidated closing date are made.

- 18 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

4. Summary of significant accounting policies
1) Valuation standards and methods for important assets(A) Securities(i) Held-to-maturity securities are carried at cost.
(ii) Other securities
Other securities other than shares without fair values are stated at fair value based on the market value at the
year-end, with valuation differences included in net assets. Cost of securities sold is determined by the moving
average method.
Shares without fair values are stated at cost based on moving average method.
For investments in limited liability investment partnerships and similar partnerships (deemed as securities
under Article 2, Paragraph 2 of the Financial Instruments and Exchange Act), the most recent financial
statements available according to the financial reporting date stipulated in the partnership agreement areused as the basis for calculating the net amount equivalent to the Company’s interest.
(B) Derivatives
Derivative financial instruments are stated at fair value.
(C) Inventories
At the Company and major consolidated subsidiaries, inventories are principally stated at cost determined by
the retail method (book value of inventories in the balance sheet is written-down when their profitability
declines). Certain consolidated subsidiaries use last-purchase-price method (book value of inventories in thebalance sheet is written-down when their profitability declines).
2) Depreciation method of important depreciable assets(A) Tangible fixed assets (excluding lease assets)
The Company uses the declining balance method. Consolidated subsidiaries principally use the straight-line
method.
(B) Intangible fixed assets (excluding lease assets)
Amortization of intangible fixed assets is calculated by the straight-line method. Software intended for internal
use is amortized by the straight-line method over its estimated useful life of 5 years.
(C) Lease assets
The straight-line method is adopted in which the lease term is treated as useful life and the asset is depreciatedto zero or residual value.
3) Accounting policies for important allowances(A) Allowance for doubtful accounts
To prepare for losses from doubtful accounts, estimated uncollectible amounts are recorded, which arecomputed either by using historical default rate for normal receivables or by considering individualcollectibility for particular receivables such as highly doubtful accounts.
(B) Allowance for employees’ bonuses
To prepare for the payment of bonuses to employees, the estimated amount is recorded as allowance.
(C) Allowance for directors’ bonuses
To prepare for the payment of bonuses to directors, the estimated amount is recorded as allowance.
As bonuses to directors for FY2021 are not paid, no allowance for bonuses to directors is recorded for
FY2021.
(D) Allowance for directors’ retirement benefits
To provide for future payments of retirement benefits to directors, certain consolidated subsidiaries record theamount that would be required at the end of the fiscal period in accordance with their internal rules.
4) Recognition of significant revenues and costs
The JAT Group is engaged in three business operations which are the facilities management operations,merchandise sales operations, and food and beverage operations.
The major obligations to be performed and the usual timing at which an entity satisfies such obligations in eachof the business operations are as follows.
For transactions in which the JAT Group’s role in providing goods or services to customers falls under the
category of agent, revenue is recognized as the net amount, the amount received from customers less theamount paid to suppliers.
- 19 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(A) Facilities management
The facilities management operations are mainly engaged in construction, management and operation ofpassenger terminals and leasing of real estates. Rent revenue consists mainly of office and store rent income,and is recognized in accordance with the “Accounting Standard for Lease Transactions” (ASBJ Statement
No. 13, March 30, 2007) and relevant revised ASBJ regulations.
Facility user charges revenues mainly consist of passenger service facility charge revenues, which arecollected from passengers in accordance with the term of use of passenger service facilities, and the JATGroup is obligated to use such revenues to cover expenses related to facilities for the common use ofpassengers and to properly manage and operate the passenger terminals. The performance obligation issatisfied upon completion of the passenger air transportation services provided by the air carrier, and revenue
is recognized upon completion of the passenger air transportation services.
Other revenues consist mainly of parking revenues, paid lounge sales, and advertising revenues. The
performance obligation is satisfied upon completion of the services such as provision of parking services,
provision of lounge access services, and placement of advertisement. If the performance obligation issatisfied at a point in time, revenue is recognized at the time the services are provided. If the performanceobligation is satisfied over a certain period of time, revenue is recognized on a straight-line basis over theperiod the service is provided.
(B) Merchandise sales
The merchandise sales operations are mainly engaged in the operation of merchandise stores and wholesale.
The performance obligation is satisfied when goods are delivered to customers for domestic flights andinternational flights, and revenue is recognized when such goods are delivered.
Other revenues consist mainly of wholesale revenues to other airports. The performance obligation issatisfied when the goods are received by the customer and revenue is recognized when the goods arereceived by the customer.
(C) Food and beverage
The food and beverage operations are mainly engaged in the operation of restaurants, and the production andsale of in-flight meals.
For food and beverage revenues, the performance obligation is satisfied by providing food and beverage
services to customers, and revenue is recognized when food and beverage services are provided tocustomers.
In-flight meal revenues consist mainly of sales of in-flight meals to international airlines. The performanceobligation is satisfied when products ordered by international airlines are delivered, and revenue isrecognized when such products are delivered.
5) Accounting method for employees’ retirement benefits(A) Allocation method of projected retirement benefits to each period
In calculating the retirement benefit obligation, the benefit formula method is used to allocate the projected
retirement benefits to each period up to the end of the fiscal year.
(B) Amortization of actuarial gains and losses and prior service costs
Prior service costs are amortized under the straight-line method over a certain number of years within the
average remaining service years (5-10 years).
Actuarial gains and losses are amortized, beginning in the year following their occurrence, under thestraight-line method over a certain number of years within the average remaining service years (5-10 years).
(C) Adoption of simplified methods at small companies
Certain consolidated subsidiaries adopt a simplified method of using the amounts payable for voluntary
retirement of employees at fiscal year-end in calculating net defined benefit liabilities and expenses for
retirement benefits.
6) Accounting standards for important hedging transactions(A) Hedge accounting method
Hedging transactions are accounted for under deferred hedge accounting method. Interest rate swaps that meetcertain conditions are accounted for using special treatment.
(B) Hedging instrument and hedged item
Hedging instrument ----------- Interest rate swap
Hedged item -------------------- Floating rate borrowings- 20 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(C) Hedging policy
Hedging transactions are executed to avoid the risk of interest rate fluctuation, and our basic policy is that they
are not used for speculation purposes.
(D) Evaluation of hedging effectivenessThe effectiveness of hedging is evaluated by comparing the cumulative changes of hedging instruments andcorresponding changes in underlying hedged items.
The evaluation is omitted regarding interest rate swaps that meet the requirements for special treatment.
Hedge relationships to which “Treatment of hedge accounting for financial instruments that reference
LIBOR” is applied
Of the above hedge relationships, all of those included in the scope of application of “Treatment of hedge
accounting for financial instruments that reference LIBOR” (ASBJ PITF No. 40, March 17, 2022), thespecial treatment prescribed in the PITF is applied. The details of hedging relationships to which the PITF isapplied are as follows.
Hedge accounting applied ----- Deferral method
Hedging instrument ------------- Interest rate swap
Hedged item ---------------------- Floating rate borrowings
Category of hedge transaction-- To fix cash flow
7) Scope of “Cash and cash equivalents” in consolidated statements of cash flows“Cash and cash equivalents” in the consolidated statements of cash flows consist of cash on hand, deposits
with banks that are withdrawable on demand, and short-term investments which are easily convertible to cashwith insignificant risk of fluctuation in values whose maturity will come within three months from the date ofacquisition.
8) Capitalization of borrowing costs
At certain consolidated subsidiaries, interest costs and related expenses on borrowings during construction
period of passenger terminals and other facilities are included in the acquisition cost (¥4,517 million foraccumulated amount as of March 31, 2022) and recorded as fixed asset.
(Changes in Accounting Policies)
Adoption of the Accounting Standard for Revenue Recognition
The Company has adopted the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29,
March 31, 2020, hereinafter referred to as the “Accounting Standard for Revenue Recognition”) and relevant
revised ASBJ regulations from the beginning of the fiscal year ended March 31, 2022. The Company now
recognizes revenue at the amount expected to be received in exchange for the promised goods or services whencontrol over the goods or services is transferred to the customer.
The Company previously recognized revenue including those from inventory that is recorded only when
the product is sold and those from consignment sales stores as the gross amount of consideration received from
customers. However, for transactions in which the Company’s role in providing goods or services to customers
falls under the category of agent, revenue is now recognized as the net amount, the amount received from
customers less the amount paid to suppliers.
For the adoption of the Accounting Standard for Revenue Recognition and relevant revised ASBJ
regulations, the Company has followed the transitional treatment stipulated in the proviso to Paragraph 84 of the
Accounting Standard for Revenue Recognition. The cumulative effect of retroactively applying the new
accounting policy prior to the beginning of the fiscal year ended March 31, 2022 has been added to or deductedfrom retained earnings at the beginning of the fiscal year ended March 31, 2022, hence the new accounting
policy has been applied to the relevant opening balance.
As a result, operating revenues, cost of sales, and selling, general and administrative expenses in theConsolidated Statements of Income for the fiscal year ended March 31, 2022 decreased by ¥10,322 million,¥10,131 million, and ¥190 million, respectively. There is no impact on operating loss, ordinary loss, net loss
before income taxes and minority interests in the Consolidated Statements of Income, and the opening balanceof retained earnings in the Consolidated Statements of Changes in Shareholders’ Equity.
Adoption of Accounting Standard for Fair Value Measurement
The Company has adopted the “Accounting Standard for Fair Value Measurement” (ASBJ Statement No.
30, July 4, 2019, hereinafter referred to as the “Accounting Standard for Fair Value Measurement”) and relevant
revised ASBJ regulations from the beginning of the fiscal year ended March 31, 2022. The Company has alsodecided to adopt the new accounting policy stipulated in the Accounting Standard for Fair Value Measurement
and relevant revised ASBJ regulations in accordance with the transitional treatment described in Paragraph 19 of- 21 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

the Accounting Standard for Fair Value Measurement and Paragraph 44-2 of the Accounting Standard for
Financial Instruments (ASBJ Statement No. 10, July 4, 2019). The effect of this change on the consolidated
financial statements for the fiscal year ended March 31, 2022 is immaterial.
Changes in description
Consolidated Statements of Income
Subsidies for employment adjustment, which were separately presented in the previous fiscal year, were combinedwith other COVID-19 related subsidy income and presented as subsidy income in FY2021 because of theincreased materiality of other subsidy income.

- 22 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(Notes on Consolidated Balance Sheets)
1. Assets pledged as collateral and corresponding liabilities with collateral
The following are assets pledged as collateral.
(Millions of yen)

Cash and deposits
Accounts receivable
Buildings and structures
Machinery, equipment and vehicles
Land
SoftwareInvestment securities (Note)
Other investments
Total

FY2020(As of March 31, 2021)
35,141
19
122,313
11,722
53
517
3,841
1,000
174,608

FY2021(As of March 31, 2022)
37,495
14
113,556
9,691
53
309
4,576
1,000
166,699(Note) Pledged as collateral for borrowings by affiliated companies

The followings are liabilities for which assets are pledged as collateral.
(Millions of yen)

Short-term loans payable
Long-term loans payable
Total

FY2020(As of March 31, 2021)
200
109,404
109,604

FY2021(As of March 31, 2022)
9,265
110,232
119,497

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

Investment securities (shares)

FY2020(As of March 31, 2021)
5,809

FY2021(As of March 31, 2022)
5,748

3. Liabilities guaranteed
The Company provides a guarantee (including commitment) to the following group companies for their borrowing fromfinancial institutions.
(1) Debt guarantee(Millions of yen)Japan Airport Delica Inc.
Airport Transport Service Co., Ltd. (Note)
Total

FY2020(As of March 31, 2021)
225
1,546
1,772

FY2021(As of March 31, 2022)
225
225(Note) Liability booked in relation to the application of equity method is deducted from the amount guaranteed(2) Commitment to guarantee(Millions of yen)

Haneda Future Tokutei Mokuteki Kaisha

FY2020(As of March 31, 2021)
666- 23 -FY2021(As of March 31, 2022)
666

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

4. Amount of reduction entry
Due to receipt of national subsidy, etc., reduction entry of the following amount is deducted from the acquisition costs oftangible fixed assets.
(Millions of yen)

Buildings and structures
Machinery, equipment and vehicles
Others
Non-tangible fixed assets
Total

FY2020(As of March 31, 2021)
212
5,324
5,536

FY2021(As of March 31, 2022)
386
6,382
48
110
6,927

5. The amounts of accounts receivable arising from contracts with customers are as follows.
(Millions of yen)Accounts receivable

FY2020(As of March 31, 2021)-

FY2021(As of March 31, 2022)
5,060

6.Notes to contractual liabilities(Note) The amounts of contractual liabilities included in other liabilities are as follows(Millions of yen)Contractual liabilities

FY2020(As of March 31, 2021)-

FY2021(As of March 31, 2022)
50

7. Financial covenants
Some of the loan agreements which the Company has entered into for securing its short-term and long-termborrowings are subject to financial covenants. The balance amount of the borrowings under these agreements andrelevant covenants are outlined below.

Short-term loans payable
Long-term loans payable
Total

FY2020(As of March 31, 2021)
2,378
15,771
18,150(Millions of yen)
FY2021(As of March 31, 2022)
2,378
13,393
15,771(¥814 million of short-term loans payable and ¥4,072 million of long-term loans payable)(1) On and after the corresponding agreement is entered into, total net assets in the consolidated balance sheet on
the last day of each fiscal year and each second quarter shall not be less than 75% of the year-on-year amount.
(2) On and after the corresponding agreement is entered into, total net assets in the non-consolidated balance sheeton the last day of each fiscal year and each second quarter shall not be less than 75% of the year-on-year
amount.
(3) On and after the corresponding agreement is entered into, ordinary profit during the fiscal year ended March 31,2018 and each subsequent fiscal year shall not be negative on a consolidated basis for two consecutive fiscal
years.
(4) On and after the corresponding agreement is entered into, ordinary profit during the fiscal year ended March 31,2018 and each subsequent fiscal year shall not be negative on a non-consolidated basis for two consecutive
fiscal years.
(¥814 million of short-term loans payable and ¥4,071 million of long-term loans payable)- 24 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(1) On and after the corresponding agreement is entered into, the total net assets on the consolidated balance sheeton the last day of each fiscal year and each second quarter shall not be less than 75% of the total net assets on
the consolidated balance sheet on the last day of the fiscal year and second quarter immediately preceding (sixmonths prior to) the fiscal year and second quarter in question or the last day of the fiscal year ended March
2017, whichever is larger.
(2) On and after the corresponding agreement is entered into, the total net assets on the non-consolidated balance
sheet on the last day of each fiscal year and each second quarter shall not be less than 75% of the total net
assets on the non-consolidated balance sheet on the last day of the fiscal year and second quarter immediately
preceding (six months prior to) the fiscal year and second quarter in question or the last day of the fiscal year
ended March 2017, whichever is larger.
(3) On and after the corresponding agreement is entered into, ordinary profit during each fiscal year shall not be
negative on a consolidated basis for two consecutive fiscal years.
(4) On and after the corresponding agreement is entered into, ordinary profit during each fiscal year shall not be
negative on a non-consolidated basis for two consecutive fiscal years.
(¥750 million of short-term loans payable and ¥5,250 million of long-term loans payable)(1) On and after the corresponding agreement is entered into, the total net assets on the consolidated balance sheeton the last day of each fiscal year and each second quarter shall not be less than 75% of the total net assets on
the consolidated balance sheet on the last day of the fiscal year and second quarter immediately preceding (sixmonths prior to) the fiscal year and second quarter in question or the last day of the fiscal year ended March
2019, whichever is larger.
(2) On and after the corresponding agreement is entered into, the total net assets on the non-consolidated balance
sheet on the last day of each fiscal year and each second quarter shall not be less than 75% of the total net
assets on the non-consolidated balance sheet on the last day of the fiscal year and second quarter immediately
preceding (six months prior to) the fiscal year and second quarter in question or the last day of the fiscal year
ended March 2019, whichever is larger.
(3) On and after the corresponding agreement is entered into, ordinary profit during each fiscal year shall not be
negative on a consolidated basis for two consecutive fiscal years.
(4) On and after the corresponding agreement is entered into, ordinary profit during each fiscal year shall not be
negative on a non-consolidated basis for two consecutive fiscal years.
For the above short-term loans payable (¥2,378 million in total) and long-term loans payable (¥13,393 million in
total), despite being in breach of these covenants at the end of the fiscal year ended March 31, 2022, financial
institutions have granted a consent not to exercise the right to accelerate repayment.

- 25 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(Notes on Consolidated Statements of Income)1. The amount of inventory at the fiscal year end is the amount that reflects writing-down of the book value dueto the decline in profitability, and the following inventory valuation loss is included in the cost of goods sold.
Figures in parenthesis indicate the reversal of the write down.
(Millions of yen)

FY2020(from April 1, 2020 toMarch 31, 2021)
1,570

FY2021(from April 1, 2021 toMarch 31, 2022)(435)

2. Gains on sale of fixed assets(Millions of yen)

FY2020(from April 1, 2020 toMarch 31, 2021)
11－
11

Furniture and fixtures
Machinery, equipment and vehicle
Total

FY2021(from April 1, 2021 toMarch 31, 2022)
0453. Impairment loss
The JAT Group recognized impairment loss on the assets as follows:
FY2020 (from April 1, 2020 to March 31, 2021)
Location

Use

Type
Impairment loss
Buildings and structures, others,
Chuo-ku, TokyoStore (Merchandise Sales)
568 million yen
intangible fixed assets
Buildings and structures, others,
Narita-shi, Chiba
Store (Merchandise Sales)
529 million yen
intangible fixed assets
The JAT Group classifies assets into groups primarily according to business locations.
By examining impairment for fixed assets based on the groupings, it was judged that the carrying amount ofcertain business assets at the Company and its consolidated subsidiaries is not recoverable in the future. The entire
carrying amount of those assets was recognized as impairment loss of ¥1,097 million in extraordinary loss. The loss
consists of ¥631 million for buildings and structures, ¥424 million for others, and ¥42 million for intangible fixed
assets.
Recoverable values of those assets were measured as zero, which were based on their values in use.
FY2021 (from April 1, 2021 to March 31, 2022)
There is nothing to report.
4. The amounts of revenue arising from contracts with customers are as follows.
(Millions of yen)

FY2020(from April 1, 2020
to March 31, 2021)－

Revenue arising from contracts with customers- 26 -FY2021(from April 1, 2021
to March 31, 2022)
38,224

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(Notes on Consolidated Statements of Cash Flows)
Relationship between the closing balance of cash and cash equivalents and the value of items listed on the consolidatedbalance sheets(Millions of yen)

FY2020(from April 1, 2020
to March 31, 2021)
120,355－
120,355

Cash and deposits
Securities
Cash and cash equivalents- 27 -FY2021(from April 1, 2021
to March 31, 2022)
57,12840,00097,128

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(Segment Information)
Segment Information
1. Overview of reportable segments
The reportable segments of the JAT Group are units for which separate financial information is available andwhose operating results are regularly reviewed by the Board of Directors in order to decide how to allocate
management resources and evaluate their performances.
The Company is primarily engaged in the management of passenger terminal buildings and the provision ofservices to users at Haneda Airport. Business divisions at the Company’s headquarters develop comprehensive
business strategies and pursue business activities.
The Company is, therefore, composed of business segments with different services based on the businessdivisions. Its three reportable segments are the facilities management operations, merchandise sales operations, andfood and beverage operations.
The segment of facilities management operations leases, maintains and repairs, and operates passenger terminal
facilities at Haneda Airport. It also provides services for passengers. The segment of merchandise sales operations is
engaged in retail sales of products to passengers and others, wholesales of products to companies operating airport
terminals and others, and other activities incidental to these two sales operations. The segment of food and beverage
operations provides food and beverage services to parties including users of Haneda Airport and Narita International
Airport. It is also engaged in the production and sales of in-flight meals and other incidental activities.
2. Method of calculations of sales, income (loss), assets, liabilities, and other items by reportable segments
Accounting methods for reportable business segments are, in general, the same as those described in “Basic
Important Conditions to Prepare Consolidated Financial Statements”.
Segment income is based on operating income.
Intersegment sales and transfers are based on prevailing market price.
As described in the “Changes in Accounting Policies” section, from the beginning of the fiscal year ended March
31, 2022, the Company has adopted the Accounting Standard for Revenue Recognition and relevant revised ASBJ
regulations, and changed its accounting method for revenue recognition. Therefore, the measurement of income orloss in the business segments has been changed as well. As a result of this change, compared with the previous
accounting method, operating revenues for the fiscal year ended March 31, 2022 in the “Merchandise Sales” segment
and the “Food and Beverage” segment decreased by ¥9,742 million and ¥804 million, respectively. There is no
impact of this change on segment income/(loss).
3. Sales, income (loss), assets, liabilities, and other items by reportable segments
FY2020 (from April 1, 2020 to March 31, 2021)(Millions of yen)

Reportable segments

Consolidated
financialstatements(Notes 2)

Facilities
Management

Merchandise
Sales

35,917

13,657

2,998

52,572－

52,572

1,614

779

1,093

3,487

(3,487)－37,532(36,283)
325,869

14,436(11,322)
38,615

4,091(4,150)12,22856,060(51,756)
376,713(3,487)(7,263)
142,479

52,572(59,020)
519,193

Depreciation andamortization

31,5001,758

544

33,803600

34,403

Increase in tangible fixed
assets and intangible fixed
assets

7,320

1,743

100

9,165

116

9,282

Operating revenues
Sales to externalcustomers
Intersegment sales
and transfers
Total
Segment income/(loss)
Segment assets
Other items

Food andBeverage

Adjustments(Notes 1)

Total(Notes) 1. Details of adjustments are as follows:(1) Adjustments to the segment income include ¥7,269 million of administration expenses for the administration and otherdivisions at the parent company’s head office and certain subsidiaries which are not allocated to each of the reportablesegments.
(2) Adjustments to the segment assets include ¥194,629 million of corporate assets which are not allocated to each of the- 28 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

reportable segments, which includes excess funds managed by the parent company, long-term investment (investment
securities), assets related to administration divisions, special-purpose funds of certain subsidiaries and other assets.
(3) Adjustments to depreciation and amortization include ¥605 million of depreciation with respect to the administration andother divisions at the parent company’s head office and certain subsidiaries which are not allocated to each of thereportable segments.
(4) Adjustments to increase in tangible fixed assets and intangible fixed assets (¥116 million) are primarily due to acquisitionof welfare facilities of parent company’s head office.
2. Segment income is adjusted with operating income recorded in the Consolidated Statements of Income.

FY2021 (from April 1, 2021 to March 31, 2022)(Millions of yen)

Reportable segments

Consolidated
financialstatements(Notes 2)

Facilities
Management

Merchandise
Sales

40,02913,174

3,852

57,057－57,057

1,982

769

796

3,547

(3,547)－42,012(24,863)
292,027

13,944(6,134)35,9594,649(3,091)
10,21360,605(34,090)
338,199(3,547)(7,165)
125,678

57,057(41,255)
463,878

Depreciation andamortization

29,2781,533

477

31,289505

31,794

Increase in tangible fixed
assets and intangible fixed
assets

2,957

2,143

33

5,134

154

5,289

Operating revenues
Sales to externalcustomers
Intersegment sales
and transfers
Total
Segment income/(loss)
Segment assets
Other items

Food andBeverage

Adjustments(Notes 1)

Total(Notes) 1. Details of adjustments are as follows:(1) Adjustments to the segment income include ¥7,183 million of administration expenses for the administration and otherdivisions at the parent company’s head office and certain subsidiaries which are not allocated to each of the reportablesegments.
(2) Adjustments to the segment assets include ¥174,595 million of corporate assets which are not allocated to each of thereportable segments, which includes excess funds managed by the parent company, long-term investment (investment
securities), assets related to administration divisions, special-purpose funds of certain subsidiaries and other assets.
(3) Adjustments to depreciation and amortization include ¥509 million of depreciation with respect to the administration andother divisions at the parent company’s head office and certain subsidiaries which are not allocated to each of thereportable segments.
(4) Adjustments to increase in tangible fixed assets and intangible fixed assets (¥154 million) are primarily due to acquisitionof robots for test installation.
2. Segment income is adjusted with operating income recorded in the Consolidated Statements of Income.

Related Information
FY2020 (from April 1, 2020 to March 31, 2021)
1. Information by product and service
Sales to external customers by product and service is equivalent to the amount described in segment
information, thus the information is omitted.
2. Information by area
(1) Operating revenues
Operating revenues in Japan account for more than 90% of the operating revenues recorded in theConsolidated Statements of Income, thus the information is omitted.
(2) Tangible fixed assets
Tangible fixed assets in Japan account for more than 90% of the tangible fixed assets recorded in theConsolidated Balance Sheet, thus the information is omitted.
- 29 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

3. Information by major customer
Not applicable
FY2021 (from April 1, 2021 to March 31, 2022)
1. Information by product and service
Sales to external customers by product and service is equivalent to the amount described in segment
information, thus the information is omitted.
2. Information by area
(1) Operating revenues
Operating revenues in Japan account for more than 90% of the operating revenues recorded in theConsolidated Statements of Income, thus the information is omitted.
(2) Tangible fixed assets
Tangible fixed assets in Japan account for more than 90% of the tangible fixed assets recorded in theConsolidated Balance Sheet, thus the information is omitted.
3. Information by major customer
Not applicable
Information on impairment loss of fixed assets by reportable segment
FY2020 (from April 1, 2020 to March 31, 2021)(Millions of yen)

Impairment Loss

Facilities
Management－

Merchandise
Sales
1,097

Corporation /Elimination

Food andBeverage－－

FY2021 (from April 1, 2021 to March 31, 2022)
Not applicable
Information on amortized amount and unamortized balance of goodwill by reportable segment
FY2020 (from April 1, 2020 to March 31, 2021)
Not applicable
FY2021 (from April 1, 2021 to March 31, 2022)
Not applicable
Information on gain on negative goodwill by reportable segment
FY2020 (from April 1, 2020 to March 31, 2021)
Not applicable
FY2021 (from April 1, 2021 to March 31, 2022)
Not applicable- 30 -

Total
1,097

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)(Per Share Information)(Yen)

FY2020(from April 1, 2020
to March 31, 2021)
1,910.83(445.92)-

Net assets per share
Net income / (loss) per share
Diluted net income per share
Notes:FY2021(from April 1, 2021
to March 31, 2022)
1,655.32(270.75)-

1. Although potential shares exist, diluted net income per share for the fiscal year ended March 31, 2021 is not shown due to
net loss per share.
In addition, diluted net income per share for the fiscal year ended March 31, 2022 is not shown since potential shares do notexist.
2. Net income / (loss) per share and diluted net income per share are calculated based on the following:(Millions of yen, except for number of shares)

FY2020(from April 1, 2020
to March 31, 2021)
Net income / (loss) per share
Net income / (loss) attributable to owners of theparentAmount not attributable to common shareholders
Net income / (loss) attributable to owners of theparent available for distribution to commonshareholders
Average number of shares outstanding during theperiod (thousand shares)
Diluted net income per share
Adjustments to net income attributable to owners of
the parent[Interest income] net-of-tax
Increase in common shares (thousand shares)[Bonds with stock acquisition rights (thousand
shares)]Description of potential shares which were notincluded in computing diluted net income per shareas they have no dilutive effect.
(Significant Subsequent Events)
Not applicable- 31 -FY2021(from April 1, 2021
to March 31, 2022)(36,578)(25,217)－－(36,578)(25,217)82,02993,136

-

-

[-]
-

[-]
-

[-]

[-]

－

－

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Year Ended March 31, 2022 (FY2021)

4.

Others

Production, orders received and sales
As for production and other results, the JAT Group finds it difficult to present production and orders received foreach segment.
Therefore, regarding the status of production, orders received, and sales, please see “1. Analysis of Business andFinancial Results” in relation to the financial results for each segment.
Operating revenues the current fiscal year were as follows:(Millions of Yen)FY2020(from April 1, 2020
to March 31, 2021)
35,917
17,712
7,644
10,56013,657
8,559
2,751
2,345
2,998
2,363
365
269
52,572

Facilities Management
Rent revenue
Facility user charges revenue
Other revenues
Merchandise Sales
Sales at domestic terminal shops
Sales at international terminal shops
Other sales
Food and Beverage
Sales from food and beverage operations
Sales from in-flight meals
Other sales
Total

FY2021(from April 1, 2021
to March 31, 2022)
40,02918,543
10,53910,946
13,174
5,166
4,242
3,765
3,852
2,790
730
332
57,057Notes
1)

The amounts above do not include consumption taxes.

2)

Data on leasing regarding rental revenue in Facilities Management is summarized as follows:(㎡)

FY2020(from April 1, 2020
to March 31, 2021)
966,191
311,414302,547
157,744
62,55682,245

Total floor space owned by the JAT Group
Total leasable floor space
Total leased floor space
Airlines
General tenants
Used by the JAT Group- 32 -FY2021(from April 1, 2021
to March 31, 2022)
970,497332,653
324,069
157,283
63,106
102,724