Second Quarter of FY18

Earnings Presentation Material(November 13, 2018)* 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
Second Quarter of FY18
Earnings Presentation Material
1． Review of Consolidated Financial Results for FY18 2Q（１）Business Environment

P ２（２）Initiatives for Management Issues for the Current Term

P３（３）Consolidated Financial ResultsP４（１）Business EnvironmentP５（２）Direction in Second Half of the Year for Management Issues for the Current Term

P６（３）Consolidated Financial Forecast for FY18P７（４）Forecast of Operating Revenues by Segment

P９

2． Consolidated Financial Forecast for FY18

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

P１０（２）Expand Business Domains that Leverage Strengths and Diversify Earnings

P１１（３）Pursue ‘Vision’ for Haneda Airport

P１２（４）Redevelop Earnings Base and Establish Competitive Position

P１４（５）Idea of the Profit-loss Plan and Guidelines

P１５

Contents
Supplementary Material
1. Details of Consolidated Financial Results for FY18 2Q(1) Changes in Passenger Volume(Haneda, Narita, Kansai and Chubu Centrair)

P １７(2) Consolidated Financial Results for FY18 2Q

P １８(3) Financial Results by Segment(i) Facilities management

Reference Material
1. Outline of the Company(1) Business Details

P ３６(2) Basic Philosophy and Management Policy

P ３７(3) Company History

P ３８

P １９

(4) Group Companies

P ３９(ii) Merchandise sales

P ２０

P ４０

(iii) Food and beverage

P ２１(5) Revenue Composition/Details by Segment/Composition of sales(4) Breakdown of Selling, General and
Administrative Expenses

P ２２(6) Changes in Capital Investment

P ４１(5) Changes in Non-Operating Income/Expenses
and Extraordinary Income/Loss

P ２３(6) Consolidated Balance Sheets

P ２４(7) Consolidated Statements of Cash FlowsP ２５(1) Location Map

P ４２(8) Capital Expenditure and Depreciation Expenses

P ２６(2) Comparison of Passenger Volume

P ４３[Reference] Purchasing Trends of Non-Japanese
Passengers by Nationality

P ２７(3) Domestic Destinations and Flights

P ４４(4) International Destinations and Flights

P ４５(5) Summary of Tokyo International Air
Terminal Corporation

P ４６(6) International Rating of the Haneda Airport
Passenger Terminal

P ４７

2. Details of Consolidated Financial Forecast for FY18(1) Consolidated Financial Forecast for FY18P 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

2. Summary of Tokyo International Airport (Haneda)

Earnings Presentation Material

Second Quarter of FY18 (FY18 2Q)

1. Review of Consolidated Financial Results for FY18 2Q
2. Consolidated Financial Forecast for FY18
3. Progress under the Medium-Term Business Plan
(1) Progress of Business Strategies(2) Expand Business Domains that Leverage Strengths
and Diversify Earnings(3) Pursue ‘Vision’ for Haneda Airport(4) Redevelop Earnings Base and Establish Competitive
Position(5) Idea of the Profit-loss Plan and Guidelines

1. Review of Consolidated Financial Results for FY18 2Q(1) Business Environment
Increased passenger volume continues, slowdown in growth after July due to the effects ofnatural disasters, etc.
Spending on shopping among travel consumption by non-Japanese visitors to Japan declines
Business
EnvironmentNon-Japanese visitors to Japan up approx. 14% during April to June, slowdown increases approx. 1% during July to
September
Significant decline in non-Japanese visitors to Japan from East Asia in September to below the YoY figure for the firsttime in the last 5 years and 8 months
Decline in spending on shopping by non-Japanese visitors to Japan by approx. 10% YoY for the first half of the year.
Large decline after July

Effects of natural disasters, etc.
Haneda domestic flight passenger volume declines YoY in September due to effects of typhoons
and earthquakes
Substitution demand in terms of passenger volume and goods sales due to increased flights at
Narita Airport and Chubu Centrair Airport, despite the effects of natural disasters at Kansai Airport
Another effect of canceled Haneda domestic flights due to engine inspection of ANA aircraftFirst-half passenger volumes (YoY comparison)First-half passenger volume
AirportInitial forecasts

FY18

FY17

Rate of change

Rate of change

Difference(10 thousands)(10 thousands)

(%)

(%)

(P)

3,477

3,455

0.6

2.1

-1.5

906

844

7.4

3.3

4.1

Total Haneda

4,383

4,300

1.9

2.3

-0.4

Narita

1,811

1,669

8.5

3.2

5.3

Kansai

1,075

1,059

1.5

8.7

-7.2

Chubu Centrair

304

282

7.6

5.0

2.6

Haneda – Domestic
Haneda – International

Japan Airport Terminal Co., Ltd.

02

1. Review of Consolidated Financial Results for FY18 2Q(2) Initiatives for Management Issues for the Current Term
Management Issues for the Current Term

Status of Initiatives for the First Half of the Year
• Strengthening of cooperative structure in natural disasters• Seamless CS promotion activities for improved service level

Realize concrete benefits
from TIAT consolidation and optimize its
effects• Promotion of company-wide information sharing for quick decision
making• Seamless promotion of advanced computerization and introduction of IT
for domestic and international terminals(TIAT: Tokyo International Air Terminal Corporation.
The same applies below)• Promotion of procurement cost reduction project including TIAT

• May 2018: North-side boarding station at Haneda Airport
Domestic Passenger Terminal 2 started operation

Respond swiftly to changes in environment(respond in terms of facilities and services,establish new company in run-up to 2020)• July 2018: Establishment of Haneda Future Research Institute• July 2018: Flying Visit Japan, a portal site for non-Japanesevisitors to Japan opened• Promotion of e-commerce and other services by using IT
technology• Enhancement of brand cosmetics

Further improvements
to urban duty-free storesJapan Airport Terminal Co., Ltd.

• Strengthening of advertisement activities in Japan and overseas• Expansion of consumption tax-exempt sales spaces

03

1. Review of Consolidated Financial Results for FY18 2Q(3) Consolidated Financial Results
Large increase in operating revenues and operating income due to TIAT consolidation, temporary
extraordinary income and losses
Growth trend in merchandise sales continues, despite a slowdown in growth seen for duty-freestores after July

Main Factors
BehindChanges○ Differences from previous fiscal year results (Factors other than TIAT consolidation)
 Sales growth in facilities management operations, mainly reflecting revenues from paid airport lounges for domestic
terminal
 Sales growth in the merchandise sales business, reflecting opening of arrival duty-free stores at Haneda Airport and newstores at Chubu Centrair Airport, in addition to merchandise sales growth for airport duty-free stores and urban dutyfree stores○ Differences from initial forecasts
 Facility user charges revenue and operating revenue from merchandise sales beat forecasts, despite effects of decline inpassenger volume due to natural disasters, etc.
 Some repair expenses and commissioned management fees are postponed until the second half of the year

Consolidated financial results for FY18 1H
Items
Operating revenues

1H
Results

Note: Figures shown are rounded down to the nearest 100 million yen. (Billions of yen)Amount affected due
to TIAT consolidation

LY

ChangeResults

amountRate ofchange(%)

Initialforecasts

Amount affected due Difference
to TIAT consolidation

137.4

17.1

108.0

29.3

27.2

131.2

16.2

6.2

(Facilities management)( 40.6)( 11.6)( 28.3)

12.3

43.7

( 40.5)( 11.2)0.1(Merchandise sales)( 86.5)(5.4)( 69.8)

16.6

23.8

( 80.9)

(

4.9)

5.6

(Food and beverage)( 10.2)

(

0.1)

(

9.8)

0.3

3.4

(

(

0.1)

0.4

Operating income

12.9

5.0

6.7

6.2

92.1

11.0

4.6

1.9

Ordinary income

11.7

2.2

8.7

3.0

34.4

9.9

1.8

1.8

Net income

28.2

21.2

6.1

22.0

355.3

27.0

21.1

1.2

Japan Airport Terminal Co., Ltd.

04

9.8)

2. Consolidated Financial Forecast for FY18

(1) Business Environment
Despite uncertainty in overseas economies and effects of natural disasters, a rise in passenger volume
is expected
Despite decreasing trends in spending on shopping by all non-Japanese visitors to Japan, increased
sales for airport duty-free stores expected to continue
Business
Environment

Number of
Passengers(YoY
comparison)







The effects of natural disasters are limited to East Asia (China, South Korea, etc.) and a recovery trend is seen
recently
Steady growth in non-Japanese visitors from Southeast Asia, Europe and the U.S. to Japan, overall increasing
trends projected to continue
As merchandise sales for airport duty-free stores are increasing due to opening of arrival duty-free stores at
Haneda Airport and new stores at Chubu Centrair Airport, a continued increase in sales is expected to be possible
through ongoing efforts to strengthen store renovation and initiatives targeting store operations
Projected growth of 1.7% for the year for Haneda domestic flights, with the increasing trend expected to continue
from April to June
Haneda international flights expected to grow by 6.8% for the year, lifted by incorporated information on growth inlate-night flights
Forecasts call for continued passenger growth from international flights into Narita and Kansai Airports

The number of passengers forecast for FY18 (YoY comparison)
Full-year

Airport

RevisedFY18 1H

FY18 2H

FY18

initialDifference

(%)

(%)

(%)

forecasts(P)

forecasts(10(%)

thousands)

Haneda – Domestic

0.6

2.8

( 1.8 )

1.7

2.0

-0.3

6,974

Haneda – International

7.4

6.2

( 2.7 )

6.8

3.0

3.8

1,827

Total Haneda

1.9

3.5

( 2.0 )

2.7

2.2

0.5

8,801

Narita8.5

7.1( 3.9 )

7.8

3.5

4.3

3,609

Kansai1.5

11.6( 8.7 )

6.7

8.7

-2.0

2,336

Chubu Centrair

7.6

4.9

( 5.0 )

6.3

5.0

1.3

591

* Figures in ( ) are initial forecasts

Japan Airport Terminal Co., Ltd.

05

2. Consolidated Financial Forecast for FY18(2) Direction in Second Half of the Year for Management Issues for the Current Term
Management Issues for the Current Term

Realize concrete benefits fromTIAT consolidation and optimize its effects

Direction in Second Half of the Year
Aim to further enhance user convenience for both international anddomestic flights under an even more integrated relationship with TIAT Establish an efficient structure for business promotion through further
advancing even more integrated operations toward 2020

Fully prepare for 2020 in terms of facilities and services; respond to therisk of a downturn due to the effects of damage from the typhoon to
Kansai Airport and the Hokkaido Earthquake

Respond swiftly to changes in theenvironment(respond in terms of facilities and services,establish a new company in run-up to 2020)

 October 2018:

Launch of construction for renovation of Domestic
Passenger Terminal 1
 December 2018: Start of operation of Domestic Passenger Terminal 2
North Satellite
Opening of "THE HANEDA HOUSE" at Domestic
Passenger Terminal 1
 Promote operations without delay by taking into account external
environmental risks and with emphasis on maintaining the balance inensuring the cost level and the profit plan
Develop initiatives targeting store operations toward achieving planned
figures for 2020

Further improvements
in urban duty-free stores

 Use diverse advertisement methods to further enhance the ability to
attract the main target customers (Chinese passengers)
 Continue to review merchandising through expanding consumption
tax-exempt sales spaces or taking other initiatives

Japan Airport Terminal Co., Ltd.

06

2. Consolidated Financial Forecast for FY18(3) Consolidated Financial Forecast for FY18
Projected further increase in sales, with continuation of increased passenger volume anticipated
Full scale internationalization construction at Haneda Airport and construction for renovating
Passenger Terminal 1 will increase expense burden
 Projected additional sales growth reflecting facility user charges revenue and operating revenue

from merchandise sales due to increased passenger volume at Haneda domestic and internationalterminals
 Expenses exceed the initial plan reflecting increased repair expenses due to new construction
projects for the improvement of passenger terminal facilities and increased personnel expenses tosecure personnel amid progress on various initiatives for 2020 in full scale, in addition to some
expenses from the first half of the year

Main Factors
BehindChanges

Consolidated financial forecast for FY18

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

FY18 1H

Items

Results

Operating revenues(*1)

Operating income(Operating income ratio)

Ordinary income

Net income

137.4( 108.0)
12.9( 6.7)
9.4%
11.7( 8.7)
28.2( 6.1)

Initialforecasts

FY18 2H
Change

131.2

6.2

11.0

1.9

8.4%

1.0P

9.9

1.8

27.0

1.2

RevisedInitialforecasts forecasts
139.6( 117.8)

ChangeRevisedInitialforecasts forecasts

fiscal year

Changeresults(FY17)

4.8

277.1

266.0

11.1

225.9

51.1

9.5

-0.7

21.7

20.5

1.2

13.4

8.2

7.0%

-0.7P

7.8%

7.7%

0.1P

5.9%

1.9P

8.2

-0.5

19.4

18.1

1.3

16.6

2.7

4.3

-0.1

32.4

31.3

1.1

11.7

20.6

¥44.0

¥42.0

¥44.0

32.2%

34.1%

30.4%

Capital expenditures

54.7

60.7

Depreciation expenses

24.8

23.6

EBITDA

46.5

44.1( 6.6)

7.6( 7.9)
4.1( 5.5)*1 Figures in ( ) are results for the previous fiscal year

Dividend

¥23.0

¥21.0

Payout ratio(*2)

27.1%

29.9%

*2 Calculated primarily from "gain on negative goodwill,"comprised of temporary income and expenses arisingfrom the consolidation of TIAT, excluding the tax effectamount.
Japan Airport Terminal Co., Ltd.

¥21.0

Change

134.8

8.7
6.3%

Previous

FY18

¥21.0

07

2. Consolidated Financial Forecast for FY18(3) Consolidated Financial Forecast for FY18
(Amount affected due to consolidation of TIAT)

Consolidated financial forecast for FY18
Note: Figures shown are rounded down to the nearest 100 million yen. (Billions of yen)

FY18
Revised forecasts

Items

Previous

Initial forecasts

AmountAmountaffected due toaffected due to

TIAT

TIAT

consolidation

consolidation

ChangeRate offiscal yearchangeresults(%)(FY17)

Rate of
Changechange(%)

Operating revenues

277.1

31.3

266.0

31.4

11.1

4.2

225.9

51.1

22.6

Operating income

21.7

8.8

20.5

8.7

1.2

5.9

13.4

8.2

61.6

0.1P

-

5.9%

1.9P

-

(Operating income ratio)

7.7%

7.8%

Ordinary income

19.4

3.7

18.1

3.6

1.3

7.2

16.6

2.7

16.2

Net income

32.4

21.1

31.3

20.9

1.1

3.5

11.7

20.6

175.1

Japan Airport Terminal Co., Ltd.

08

2. Consolidated Financial Forecast for FY18(4) Forecast of Operating Revenues by Segment
Note: Figures shown are rounded down to the nearest 100 million yen. (Billions of yen)

FY18

Items

Revised forecasts

Previous

Initial forecasts

fiscal year

Amount affected

Amount affected

due to TIAT

due to TIAT

consolidation

consolidation

ChangeRate ofresultschange (%)(FY17)

Rate of
Changechange
(%)

81.0

20.5

80.6

20.5

0.4

0.5

58.4

22.5

38.6

Rent revenue

17.5

4.0

17.5

3.9

0.0

0.0

13.2

4.2

31.8

Facility user charges revenue

43.7

24.7

42.9

23.9

0.8

1.9

18.7

24.9

133.0

Other revenues *1

19.8

-8.2

20.1

-7.3

-0.3

-1.5

26.4

-6.6

-25.0

Merchandise sales

176.2

10.7

166.1

10.7

10.1

6.1

147.7

28.4

19.2

0.5

1.4

35.1

0.5

1.6

Facilities management

Sales at domestic terminal
storesSales at international

35.7

-

35.2

-

102.1

62.4

94.8

58.3

7.3

7.7

35.4

66.6

187.6

38.4

-51.7

36.0

-47.6

2.4

6.7

77.1

-38.7

-50.2

Food and beverage

19.9

0.2

19.1

0.1

0.8

4.2

19.7

0.1

0.9

Sales from restaurants

12.4

3.0

11.8

2.7

0.6

5.1

9.8

2.5

25.9

Sales from in-flight meals

6.7

0.2

3.1

6.5

0.1

1.7

Other sales *1

0.8

0.1

14.3

3.2

-2.4

-75.7

terminal stores
Other sales *1

-

6.5
-2.8

-

0.7

-2.5

*1 Main item for “Other Revenues”/“Other Sales” in each segment• Facilities management: Subcontracted work revenues, income from parking lots, income from hotel business, income from advertising andlounges, etc.
• Merchandise sales:
Income from wholesaling (Duty-free goods, others to Narita Airport and other airports)• Food and beverage:
Income from catering airline lounges, etc.

Japan Airport Terminal Co., Ltd.

09

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

Increasing Earnings of Urban Duty-Free
StoresDevelopment of business in Zone 1 atformer Haneda site
Steady promotion for starting Palau
International Airport operations

Promotion of domestic/international
shared use terminal plan (T2internationalization)
Business promotion for Haneda Future
Research InstituteStart of operation of T2 north-side
domestic terminal facilitiesConsideration of opportunities forparticipating in other airport operations



Increasing advertising revenue throughnew advertisement development, etc.

Improvement of environment inside theT1 building through renovation

Promote readiness for Tokyo
Olympics/Paralympics



Acquire SKYTRAX 5 Star rating for fifth
consecutive year

Increasing T2 office space area

Incorporate robotics and other cutting-edge
technologies

Japan Airport Terminal Co., Ltd.

Redevelop Earnings Baseand Establish Competitive
Position

Pursue ‘Vision’ for Haneda Airport

10Opening of THE HANEDA HOUSE

Vacant space utilization measures

Lounge renovationProcurement cost reduction project

Borderless EC business initiatives

Expansion of P4 parking structure3. Progress under the Medium-Term Business Plan
(2) Expand Business Domains that Leverage Strengths and Diversify Earnings(i) Urban Duty-free Business Progress◆ FY18 first-half results and revised full-year forecasts
Items

1H Results LY Results

Operating revenues(billion yen)
Operating income(billion yen)

ChangeamountRate ofchange(%)

Full-year

InitialForecasts

forecasts(FY18 first-half status)•

Difference
•

5.2

3.6

1.5

42.2

10.1

9.5

0.6

0.4

0.0

0.3

-

0.4

0.2

0.1

(thousand yen)
No. of purchasing
customers (people/day)

29

32

941

613

Advertising in Japan and overseas strengthened, in
addition to expansion of consumption tax-exempt
sales spaces and new brand development(Initiatives going forward)•

Per-unit purchases

Rising figures for purchasing customers from China
continue•

Further improve ability to attract customers throughadvertising such as distribution of advertising movies
on the Internet
Improve convenience with diversified payment
methods(ii) Per-unit Purchasing by Chinese Passengers, Operating Revenue from Merchandise Sales
HanedaInternational
羽田国際

(Yen)

Narita成田(Million yen)

(Million yen)

(Yen)

8,000

20,0003,000

16,0002,500

20,0007,000
16,000

6,000
2,000

5,000

12,00012,000
1,500

4,000
8,000

3,000

2,000

4,000

8,000
1,000
4,000

500

1,000
0

0
1Q

2Q

3Q

4Q

FY15
2015年度

1Q

2Q

3Q

4Q

1Q

FY16
2016年度Operating revenue
frommerchandise
商品売上高
sales

2Q

3Q

4Q

FY17
2017年度

1Q

0

0
1Q

2Q

2Q

3Q

FY15
2015年度

FY18
2018年度

4Q

1Q

2Q

3Q

4Q

1Q

FY16
2016年度Operating revenue
frommerchandise
商品売上高
sales

Per-unit
購買単価
purchasing

2Q

3Q

4Q

FY17
2017年度

1Q

2Q

FY18
2018年度Per-unit
購買単価
purchasing（Key Points） - At both Haneda and Narita, slowdown in growth in the second quarter and YoY increasing trend for the first half of the year continues
Japan Airport Terminal Co., Ltd.

11

3. Progress under the Medium-Term Business Plan
(3) Pursue ‘Vision’ for Haneda Airport

Domestic flight area(i) Progress on Internationalization Construction at Haneda Airport◆ Terminal 2 North Satellite started operation- Purpose: Boarding gate for departing
flights at Domestic Passenger Terminal 2- Total investment: ¥9.4 billion- Start of operation: December 2018

◆ Terminal 1 renovation- Total investment: ¥5.0 billion- Target area: Passenger area 1st
basement level and 1st floor

International flight area

International flightterminal(Terminal 3)- Completion of construction: End of
September 2019 (tentative)* Included in the investment plan below◆ Progress of investment plan
Strategic Pillar(Billions of yen)

2018

2018

(Initial forecasts)(Revised forecasts)

53.0

49.0

-4.0

( 34.0)( 34.0)

0.0

8.0

6.0

-2.0

0.0

0.0

0.0

2.0

3.0

2.0

-1.0

7.0

0.0

0.0

0.0

1.0

64.0

57.0

-7.0

175.0

Changeu Capital expenditure
Pursue ‘Vision’ for Haneda Airport(including Haneda internationalization related
items)
Redevelop Earnings Base and Establish
Competitive Position
Realignment and Enhancement ofOrganization, Human Capital and Governance(Main factors)- Investment inexisting TIAT facilities- Waste treatment
facility expansion,etc.
Change in the timeof implementation

Medium-Term Business Plan

2016–2020

149.0( 104.0)
16.0

u Other investment
Expand Business Domains that Leverage
Strengths and Diversify Earnings
Realignment and Enhancement ofOrganization, Human Capital and Governance

Subtotal

Japan Airport Terminal Co., Ltd.

12

No change
in totalthrough to
FY20

3. Progress under the Medium-Term Business Plan
(3) Pursue ‘Vision’ for Haneda Airport(ii) Business Promotion for Haneda Future Research Institute
Creation of new value leveraging Haneda Airport’s “location”

Effect on the JAT Group

Promotion of Haneda Airport as a base for transmitting information
on regional specialties, art and culture of JapanBy capitalizing on Haneda Airport’s “location”(real) and “Flying Visit Japan” (*) (virtual) andthrough product planning and sales promotions
using Haneda Airport as the place forpresentation, promote Haneda Airport as abase for transmitting information on regional
specialties, art and culture of Japan.

Advanced
technology
Disasterprevention
Industry

Regional
revitalization

Education
Art andscienceStrengthening
existing business

Creating new
business

CultureArt(*) Flying Visit Japan: Portal site for non-Japanesevisitors to Japan opened in July 2018

Strengthening of business and expansion of business domains
by leveraging JAT Group’s management resources and expertise
Contract consulting services, etc.
By leveraging various information and data on Haneda Airport andtaking advantage of the experience and expertise accumulated by the
JAT Group, plan programs and provide consulting services

Japan Airport Terminal Co., Ltd.

13

Maximizing value of Haneda

3. Progress under the Medium-Term Business Plan
(4) Redevelop Earnings Base and Establish Competitive Position(i) Vacant Space Utilization Measures◆ Promotion of vacant space utilization measures by increasing leasable
space available to airline companies and luring tenants- Lure food and beverage tenants (Marketplace on the 5th fl. of Passenger Terminal 1)- Develop golf studio tenant (Marketplace on the 5th fl. of Passenger Terminal 1)

Grand opening of “THE HANEDA HOUSE”
in mid-December this year

Yakiniku Shinjuku
Koei (opened on
Sep. 25, 2018)

GDO Golfers LINKS HANEDA(opened on Oct. 1, 2018)

THE HANEDA HOUSE
Features: Rental office, golf studio, café, tailor-madesuit, head spa salon, massage fitness club, etc.

◆ Expected effects of the initiative
New value added toHaneda Airport

Provision of new airport services

Improved vacancy rate
(End of Sep. 2018)
3.8%

Profit in the real estatebusiness maximized(Target indicator for FY20)
Max. 2.5%* Domestic Passenger Terminals only

Japan Airport Terminal Co., Ltd.

14

3. Progress under the Medium-Term Business Plan
(5) Idea of the Profit-loss Plan and Guidelines
Promote business strategy with a view to achieving the profit-loss plan and theguidelines for FY20
(Operating revenues: ¥300 billion; ROA (EBITDA): 12%: Operating income ratio: 8%)(Business environment that serves as opportunities)(Business environment to note)

Increase in the number of air passengers due toan increase in in-bound demand and growth inlate-night international flights at Haneda Airport

Steady increase in sales for merchandise sales
business through opening of new stores at otherairports and outside airports

The profit-loss plan for FY18
is forecast to exceed the initial plan

Uncertainty in trends of consumption by
Chinese visitors to Japan and economic trends
in Japan

The plans for FY19 and FY20 require closer examination due to a highlevel of uncertainty regarding the business environment. However, we
will aim to develop plans that exceed the operating revenue at the
FY18 level.
FY19–20FY18Japan Airport Terminal Co., Ltd.

Impact on in-bound demand and the numberof air passengers due to natural disasters

15

Earnings Explanatory Meeting
Second Quarter of FY18

Supplementary Material
1. Details of Consolidated Financial Results for FY18 2Q
2. Details of Consolidated Financial Forecast for FY18
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 FY18 2Q(1) Changes in Passenger Volume (Haneda, Narita, Kansai and Chubu Centrair)(Thousand passengers)
72,000

Haneda Airport – domestic flights

20 ,000

68,559(＋3.7％ ）70,000FY18 forecast +1.7%
68,000(Thousand passengers)

69,741(＋1.7％ ）18 ,000

66,093(Initial forecast +2.0%)

Haneda Airport – international flights

66,000(Initial forecast +3.0%)

15,642

Oct. 2015
Flights to and from China up
from 8 to 20 flights/day

11,558
12 ,000

62,00062,65660,000

10 ,000

62,553

61,4108,039

8, 000Oct. 2016
Flights to and from the U.S.
up from 8 to 12 flights/day

13,434

14 ,000

64,000(＋6.8％ ）(＋9.5％ ）FY18 forecast +6.8%

16 ,000

18,276

17,120Mar. 2014
Increase in the number of landing slots(30,000/year)

58,0006, 00056,000

1H results ＋ up 7.4％
2H forecast ＋ up 6.2％

4, 00054,000

1H results ＋ up 0.6％
2H forecast ＋ up 2.8％

52,000Initial forecasts + up 2.1％
Initial forecasts + up 1.8％

2, 000FY

FY50,000
2012

2013

2014

2015

2016

2017

← Results(Thousand passengers)

37,00035,000

0
20 12

2018

30,000

20 16

20 17

20 18

Forecast →Kansai Airport – international flights
FY18 forecast +6.7% (Initial forecast +8.7%)

25,000(＋3.3％ ）32,41033,00020 15(Thousand passengers)

33,479(Initial forecast +3.5%)

20 14← Results(＋7.8％ ）FY18 forecast +7.8%

20 13

Forecast →36,092

Narita Airport – international flights

Initial forecasts + up 3.3％
Initial forecasts + up 2.7％（＋14.4％ ）1H results ＋ up 1.5％
Initial forecasts + up 8.7％ 21,905
2H forecast ＋ up 11.6％ Initial forecasts + up 8.7％

23,36919,151

20,00031,055(＋6.7％ ）17,27530,86231,00029,302

15,00012,051

13,52329,00010,00027,00025,000

1H results ＋ up 8.5％
2H forecast ＋ up 7.1％

Initial forecasts + up 3.2％
Initial forecasts + up 3.9％

2012

2013

2014

2015

2016

2017
← Results

FY18 forecast +6.3% (Initial forecast +5.0%)

4,467

5,000

4,503

4,900

5,234

（＋6.3％ ） （＋6.3％ ）5,564

1H results ＋ up 7.6％ Initial forecasts + up 5.0％
2H forecast ＋ up 4.9％ Initial forecasts + up 5.0％

FY

23,000Chubu Centrair Airport– international flights

FY

0

2018
Forecast →

2012

17

2013

2014

2015

2016

5,914

2017

← Results

2018

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

1. Details of Consolidated Financial Results for FY18 2Q(2) Consolidated Financial Results for FY18 2Q
FY18 2Q (Results)
Items

FY17 2Q (Results)
ChangeAmount affected due

Ratio

Ratio

to TIAT consolidation

Millions of yen％

Millions of yen

Millions of yen

137,423100.0

17,195108,066

Facilities management

40,661

29.6

11,601

Merchandise sales

86,56063.0

Food and beverage

10,201

7.4

Cost of sales

66,72948.6

61,112

44.5

Operating revenues

Cost of sales of merchandise(Ratio)((Ratio)Gross profit(

Initial forecast (May 2018)

ChangeAmount affected due to

Ratio

Difference

TIAT consolidation％ Millions of yen％

Millions of yen

％

100.0

29,35627.2

131,200

100.0

16,2006,223

28,30526.2

12,35643.7

40,50030.8

11,200161

5,484

69,895

64.7

16,66523.8

80,900

61.7

4,900

5,660

109

9,866

9.1

335

3.4

9,800

7.5

100

401

58,047

53.7

8,681

15.0

62,600

47.7

4,129

52,573

48.6

8,539

16.2

57,200

43.6

3,912

70.6％)

5,616

Cost of sales of food and beverage

Rate of(

75.2％)

5,473

4.1

55.1％)((-4.6P)

5.1

55.5％)(

142(-0.4P)

70.7％)

5,400

2.6
(

Millions of yen Millions of yen(-0.1P)216

4.1

55.1％)-

70,69451.4

50,01946.3

20,67541.3

68,600

52.3

2,094

57,73242.0

43,27040.1

14,461

33.4

57,60043.9

132Operating invome

12,961

9.4

6,748

6.2

6,213

92.1

11,0008.4

Non-operating income/loss-1,200

-0.8

1,999

1.9

-3,199-160.0-1,100-0.9

Ordinary income

11,761

8.6

8,748

8.1

3,013

34.4

9,900

7.5

Extraordinary income/loss

23,162

16.9

-11

-0.0

23,173-23,00017.5

28,202

20.5

6,193

5.7

22,008355.3

27,000

20.6

Selling, general andadministrative expenses

Net income attributable toowners of parent

5,015
2,223

21,231

4,600

1,961
-100

1,800

1,861
-

21,100

1,202* 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.

18

1. Details of Consolidated Financial Results for FY18 2Q(3) Financial Results by Segment(i) Facilities management
FY18 2Q (Results)
Items
Ratio

FY17 2Q (Results)
ChangeAmount affected due

Ratio

to TIAT consolidation

Millions of yen％

Millions of yen

Millions of yen

8,693

20.0

1,974

6,639

22.7

Facility user charges revenues

21,66350.0

12,179

9,448

Other revenues

10,30323.8-2,551

Subtotal

40,661

93.8

2,682

ChangeRatio

Amount affected due

Difference

to TIAT consolidation％

Millions of yen

％

2,053

30.9

8,800

21.1

2,000

-106

32.2

12,215129.3

21,50051.4

11,900163

12,21741.7-1,913-15.7

10,20024.4-2,700103

11,601

28,305

96.6

12,35643.7

40,50096.9

11,200

161

6.2

1,767

989

3.4

1,692

171.0

1,300

3.1

400

1,382

43,343100.0

13,36829,294100.0

14,04848.0

41,800100.0

11,600

1,543

Operating expenses

34,897

80.5

8,821

25,507

87.1

9,389

36.8

35,800

85.6

9,200

-902

Operating income

8,446

19.5

4,546

3,787

12.9

4,659

123.0

6,000

14.4

2,400

※ 2,446-( 5.1P)

Sales to external customers

Rent revenues

Intersegment sales
Total(Ratio)(19.5％)

・Rent revenues:
・Facility user charges revenues:
・Other revenues:-(％ Millions of yen

Initial forecast (May 2018)

Rate of

12.9％)( 6.6P)(

14.4％)

International terminal rental income
Increase in space leased to airline companies, etc.
Fees for use of passenger facilities for international flights, etc.
Revenues from parking fees, paid airport lounges, advertising fees, etc. for internationalterminal
Revenues from paid airport lounges, advertising fees, etc. for domestic terminal

Millions of yen Millions of yen＋ 1.9 billion＋ 0.1 billion＋12.1 billion＋ 2.3 billion＋ 0.2 billion

Decrease in Haneda international terminal commissioned facility management revenues
from consolidation－ 4.1 billion※ Upon distributing expenses between the facilities management and the merchandise sales segments, differences between the initial forecasts
and the results affected the operating income of the segment.

19

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

1. Details of Consolidated Financial Results for FY18 2Q(3) Financial Results by Segment(ii) Merchandise sales
FY18 2Q (Results)
Items
Ratio

FY17 2Q (Results)
ChangeAmount affected due

Ratio

to TIAT consolidation

Millions of yen％

Millions of yen

Millions of yen

Domestic terminal stores

17,956

20.6-

17,56425.0

International terminal stores

50,20057.7

29,77916,903

Other sales

18,40421.2-24,294

86,56099.5

473

Initial forecast (May 2018)

ChangeRatio

Amount affected due

Difference

to TIAT consolidation％

Millions of yen

％

391

2.2

17,900

22.0

-

56

24.0

33,296197.0

45,80056.3

27,7004,400

35,42750.4-17,023-48.1

17,20021.2-22,800

1,204

5,484

69,895

99.4

16,66523.8

80,900

99.5

4,900

5,660

0.5

28

415

0.6

58

14.0

400

0.5

-

73

87,034

100.0

5,512

70,310100.0

16,72323.8

81,300

100.0

4,900

5,734

Operating expenses

78,931

90.7

3,888

65,095

92.6

13,83621.3

73,200

90.0

2,000

5,731

Operating income

8,102

9.3

1,624

5,215

7.4

2,886

55.4

8,100

10.0

2,900

-

( 7.4％)

Sales to external customers

SubtotalIntersegment sales
Total(Ratio)(・Domestic terminal stores:
・International terminal stores:

・Other sales:

9.3％)％ Millions of yen

Rate of( 1.9P)( 10.0％)

Increase in sales of directly managed stores at Haneda domestic terminal, etc.
Increase in sales of duty-free stores at Haneda international terminal
Increase in sales of directly managed stores at Narita Airport
Decrease in sales of boutique store at Kansai Airport
Sales of directly managed stores at Chubu Centrair Airport
Increase in sales of urban duty-free stores
Increase in wholesale sales to Narita Airport, Chubu Centrair Airport and other regional
airports
Decrease in Haneda international terminal duty-free store wholesale sales fromconsolidation

Millions of yen Millions of yen

-

※

2

( -0.7P)＋ 0.3 billion＋29.7 billion＋ 1.4 billion－ 0.4 billion＋ 0.6 billion＋ 1.5 billion＋ 2.7 billion－19.8 billion※ Upon distributing expenses between the facilities management and the merchandise sales segments, differences between the initial forecasts
and the results affected the operating income of the segment.

20

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

1. Details of Consolidated Financial Results for FY18 2Q(3) Financial Results by Segment(iii) Food and beverage
FY17 2Q (Results)

FY18 2Q (Results)
Items
Ratio

ChangeAmount affected due

Ratio

to TIAT consolidation

Millions of yen Millions of yen

1,411

28.2

6,100

54.5

1,400

323

3,277

29.3

127

3.9

3,300

29.5

-

105

-1,391

1,577

14.1

-1,204

-76.4

400

3.5

-1,300

-27

88.5

109

9,866

88.3

335

3.4

9,800

87.5

100

401

1,322

11.5

-

1,303

11.7

19

1.5

1,400

12.5

-

-77

11,523100.0

109

11,169

100.0

354

3.2

11,200

100.0

100

323

11,03195.7

13010,727

96.0

303

2.8

10,700

95.5

100

331

492

4.3

-20

441

4.0

50

11.5

500

4.5

-

-7

-

( 4.0％)

6,423

55.7

1,500

5,011

Sales from in-flight meals

3,405

29.6

-

372

3.2

10,201Other sales

Operating income(Ratio)to TIAT consolidation

44.9

Sales from restaurants

Operating expenses

Difference％

Millions of yen

Total

Amount affected due

Millions of yen

Millions of yen

Intersegment sales

Ratio

％

％

Subtotal

Change％ Millions of yen

Millions of yen

Sales to external customers

Initial forecast (May 2018)

Rate of(・Sales from restaurants:
・Sales from in-flight meals:
・Other sales:

4.3％)( 4.5％)( 0.3P)

Revenues from international terminals restaurants
Decrease from closure of some domestic terminal restaurants
Increase in sales from new customer agreements, etc.
Decrease in commissioned facility management revenues
for international terminal stores-(-0.2P)＋ 1.5 billion－ 0.0 billion＋ 0.1 billion－ 1.2 billion

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

21

1. Details of Consolidated Financial Results for FY18 2Q(4) Breakdown of Selling, General and Administrative Expenses
Items

FY18 2Q

FY17 2Q(Results)(Results)
Ratio

Rate of

ChangechangeRatio

Millions of yen％

Millions of yen％

Millions of yen％

137,423100.0

108,066

100.0

29,35627.2

57,73242.0

43,27040.1

14,461

33.4

Salaries and wages

5,202

3.8

4,571

4.2

631

13.8

Provision for employees' bonuses

1,627

1.2

1,462

1.4

164

11.3

Provision for directors' bonuses

118

0.1

114

0.1

3

3.3

Expenses for retirement benefits

481

0.3

493

0.5

-11

-2.3

8,530

6.2

6,105

5.7

2,424

39.7

Business consignment expenses

14,701

10.7

12,621

11.7

2,080

16.5

Depreciation expenses

11,998

8.7

5,233

4.8

6,765

129.3

Other costs and expenses

15,071

11.0

12,668

11.7

2,403

19.0

Operating revenues
Selling, general and administrative
expensesRent expenses

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

22

1. Details of Consolidated Financial Results for FY18 2Q(5) Changes in Non-Operating Income/Expenses and Extraordinary Income/Loss
Items

FY18 2Q

FY17 2Q(Results)(Results)
Ratio

ChangeRate of Change

Ratio

Millions of yen％

Millions of yen％

Millions of yen％

Operating revenues

137,423100.0

108,066

100.0

29,356

27.2

Operating income

12,961

9.4

6,748

6.2

6,213

92.1

948

0.7

2,212

2.1

-1,263

-57.1

239

0.2

541

0.5

-301

-55.6

169

0.1

1,371

1.3

-1,202

-87.7

539

0.4

300

0.3

239

79.8

Non-operationg expenses

2,148

1.5

212

0.2

1,936

910.8

Interest expenses

1,517

1.1

159

0.1

1,358

852.4

630

0.4

53

0.1

577

-

Ordinary income/loss

11,761

8.6

8,748

8.1

3,013

34.4

Extraordinary income

25,960

18.9

1

0.0

25,959-Extraordinary loss

2,798

2.0

12

0.0

2,785

-

Income taxes

5,279

3.8

2,454

2.3

2,824

115.1

28,202

20.5

6,193

5.7

22,008355.3

Non-operationg income
Interest income anddividend
Return on investment by
the equity method

OthersMiscellaneous expenses

Net income attributable toowner's of parent

23

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

1. Details of Consolidated Financial Results for FY18 2Q(6) Consolidated Balance Sheets(Millions of yen)
Total assets increased due toconsolidation of TIAT

Cash and deposit ＋56.1 billion
Account receivable － 2.4 billion
Merchandise＋ 3.1 billion
Others＋ 4.1 billion

45,788132,943
Current
liabilities+8,103Current
assets+60,958
Tangible fixed assets (depreciable assets)
Buildings, etc.
＋163.3 billion
Accumulated depreciation － 71.5 billion
Construction in progress＋ 29.8 billion
Others＋ 33.1 billion
Intangible fixed assets－ 0.5 billion＋ 1.4 billion＋ 5.5 billion＋ 1.6 billion

229,967

Bonds payable
Long-term loans payable
Others＋ 38.8 billion

Investments and other assets
Investment securities－ 14.6 billion
Long-term loans receivable － 6.6 billion
Others＋ 1.2 billion

340,916

Accounts payable
Income taxes payable
Short-term borrowings
Others

37,685
Fixedassets+173,512

71,985＋ 11.1 billion＋132.8 billion＋ 20.4 billion

Fixedliabilities+164,420
Retained earnings＋ 26.2 billion
Deferred gains or losses on hedges＋ 1.5 billion
Non-controlling interest＋ 34.0 billion

65,547

198,103
167,404

Equity ratio
FY2018 2Q

34.0％

FY201755.7％

136,156

Total assets 473,860
FY18 2Q

Net
assets+61,947

Total assets 239,389
FY17

FY17

24

（ － 21.7Ｐ）

FY18 2Q
Note: Figures shown are rounded down to the nearest million yen.

1. Details of Consolidated Financial Results for FY18 2Q(7) Consolidated Statements of Cash Flows
Items

FY18 2Q

FY17 2Q(Results)(Results)

ChangeMillions of yen

Millions of yen

Millions of yen

16,671

11,116

5,555

Income before income taxes and minority interests

34,923

8,736

26,186

Depreciation and amortization

12,047

5,269

6,778

Gain on negative goodwill

Cash flows from operating activites-20,126--20,126

Offsetting gains of assets and liabilities-5,626--5,626

Loss on step acquisitions

2,725

-

2,725

Other current assets-2,591-1,969-622

Other current liabilities

924

1,299

-375

Other fixed liabilities

45

-15

60

-871

-842

-29

-4,777-1,361-3,416

OthersIncome and other taxes paid
Cash flows from investing activites
Purchase of tangible fixed assets
Purchase of intangible fixed assets

18,130-5,35623,487-27,670-4,945-22,724

-302

-274

-28

46,211

-

-108

-137

28

21,352-4,492

25,845

Proceeds from purchase of investments in
subsidiaries resulting in change in scope of

46,211

consolidation

OthersCash flows from financing activites

100

200

-100

Long-term loans payable

23,322-3,12026,442

Dividends payment-1,949-1,380

-568

-120

-192

71

Short-term borrowings

Others
Effect of exchange rate change on cash and cash equivalents

-5

-2

-2

Increase (decrease) in cash and cash equivalents

56,1491,263

54,885

Cash and cash equivalents at beginning of period

42,32939,1083,221

Cash and cash equivalents at end of period

98,47940,372

58,10725

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

1. Details of Consolidated Financial Results for FY18 2Q(8) Capital Expenditure and Depreciation Expenses
FY13 2Q

FY14 2Q

FY15 2Q

FY16 2Q

FY17 2Q

FY18 2Q(Results)(Results)(Results)(Results)(Results)(Results)

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Capital expenditure

1,845

1,489

1,591

3,548

5,284

24,706

Depreciation expenses

6,258

5,847

5,525

5,714

5,233

11,998Items

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

• Breakdown of major capital expenditures
FY18 2Q (Results)
Building 2 internationalization construction¥20.9 billion

PBB upgrade and bridge repair¥1.0 billion

Repair and upgrade of various equipment and facilities¥0.9 billion• Breakdown of main depreciation expenses

FY13 2Q

FY14 2Q

FY15 2Q

FY16 2Q

FY17 2Q

FY18 2Q(Results)(Results)(Results)(Results)(Results)(Results)

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Terminal 1

1,900

1,900

1,900

2,100

2,100

1,800

Terminal 2

2,600

2,400

2,200

2,000

1,900

1,900

P4 Parking

200

200

200

100

100

100

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

26

1. Details of Consolidated Financial Results for FY18 2Q[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

Composition

No. of passenger

Composition

No. of passenger

Composition

No. of passenger

Composition

No. of passenger

Composition

volume (person)

ratio (％)

volume (person)

ratio (％)

volume (person)

ratio (％)

volume (person)

ratio (％)

volume (person)

ratio (％)

FY17

2,348,539

100.0

319,01313.6

652,08827.8

622,81126.5

754,627

32.1

FY18 2Q

2,625,916

100.0

351,460

13.4

757,88928.9

687,87126.2

828,696

31.6

Notes: Passenger data has been aggregated by the company using immigration statistics from the Ministry of Justice.
FY17: Average for April 2017 to March 2018, FY18 2Q: Average for April 2018 to August 2018

(2) The number of departing non-Japanese visitors by airport and nationality (monthly average)○ Volume ranking and change in departing passengers by nationality for FY18 1H≪ Haneda Airport ≫No. of passenger

Composition

volume (person)

ratio (％)

112,106

China (incl. Hong Kong)

South Korea
U.S.A.

31.9%

22.3% China (incl. Hong Kong)

43,952

12.5%-3.9% Taiwan

36,071

10.3%

8.8% South Korea-4.1% U.S.A.

27,657

7.9%

No. of passenger

Composition

volume (person)

ratio (％)

Taiwan≪ Narita Airport ≫Change (%)

Change (%)

80

volume (person)

ratio (％)

215,113

Change (%)

No. of passenger

Composition

volume (person)

ratio (％)

Change (%)

28.4%

19.1% China (incl. Hong Kong)

274,95040.0%

108,277

14.3%

9.9% South Korea

179,151

26.0%

1.5%

87,72411.6%

5.0% Taiwan

100,319

14.6%

-3.1%

10.9% U.S.A.

22.4%

77,786

10.3%

No. of passenger

Composition

volume (person)

ratio (％)

Change (%)

20,3063.0%

No. of passenger

Composition

volume (person)

ratio (％)

24.6%

Change (%)

351,460

47.0%

9.7% Non-Japanese

757,889

56.9%

14.0% Non-Japanese

687,871

70.0%

11.4%

Japanese

395,550

53.0%

4.5% Japanese

573,987

43.1%

4.1% Japanese

295,155

30.0%

12.2%

100.0%

6.9% Total

100.0%

9.5% Total

983,026

100.0%

11.7%

747,011○ Number of departing non-Japanese passengers
100

Composition

Non-Japanese

Total

120

≪ Kansai Airport ≫No. of passenger

China (incl. Hong Kong)
South Korea
TaiwanSouth-East Asia
Europe/U.S.A.
Others1,331,876(No. of travelers: thousands)

Figures in ( ) denote percent change compared to FY17 1H（＋22.3%)240（＋19.1%)(＋9.3％)

200(＋13.8%)60（－3.9%)

40（－4.1%)

20（＋9.6%)(＋16.8%)120（＋9.9%)

80（＋5.0%)

40（＋14.3%)

1H

2H
FY16

1H

2H
FY17

1H
FY18

（＋1.5%)

150（－3.1％)

100(＋12.8%)50(＋15.1%)（＋18.3%)000（＋24.6%)

250
200

160

(＋7.5%)

300

1H

2H

1H

FY16

2H
FY17

1H
FY18

1H

2H
FY16

Notes: Passenger data has been aggregated by the company using immigration statistics from the Ministry of Justice. Transit passengers are not included in passenger number.
Passenger numbers utilize April to August data from the first half of FY16, FY17 and FY18, respectively.

27

1H

2H
FY17

1H
FY18

1. Details of Consolidated Financial Results for FY18 2Q[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)

Haneda (Net sale: millions of yen)(No. of travelers: thousands)
Figures in ( ) are percent change

5,500

Others

Japan
China

1,350

708

4,500

309

642

3,500

185

322
2,500

Japanesetravelers(Change)

378
320

1,424

2,000

1,200
500

1,050

1,456
（＋2.2%） 395（＋4.5%）
400

900

351（＋9.7%）

750

Foreigntravelers(Change)

300

1,659

2,310
（＋39.2%）800

757（＋14.0%）
171

665

700

44
50
151

551

41
50

600

219
Japanese（－15.3%）travelers573（＋4.1%）

259

400

300

927
（＋39.2%）

450

666

300
100

-

0

FY17 1H-

FY18 1H

200

100

150

500

500

(Change)

600

200

1,500
1,000

600

175

4,000

3,000

Foreigntravelers(Change)

1,500

5,000

TaiwanS. KoreaNarita700

0FY17 1H

FY18 1H

Notes: “Net sales” denote all store sales (excluding taxable stores). Haneda: all duty-free stores; Narita: directly managed stores and boutiques. Sales by nationality include estimates.
Passengers numbers utilize April to August data from the first half of FY17 and FY18, respectively.

(4) Main factors in the fluctuation of sales of duty free shops and purchasing trends«Haneda» Operating revenues continued to grow, with a high rate of growth particularly among Chinese passengers.
 Despite an increase in per-unit purchases, its growth rate fell after July this year as a consequence ofdistributed store space due to renovation of a comprehensive duty-free store, etc.
 Could due to the effects of natural disasters, operating revenues and per-unit purchases in Korean passengers
fell from the previous term.
«Narita» Decrease in purchasing passenger volume among Japanese passengers and growth among Chinese
passengers, with an increasing ratio of Chinese passengers.
 Continuation of not only purchasing passenger volume, but per-unit purchases among Chinese passengers.

28<Duty-free Store Per-unit Purchasing>(Rounded down to the nearest hundred yen)

FY18 1H
Amount per
customer

Y on Y comparison
ChangeRate ofchangeHaneda

8,900

541

6.5%

Narita12,700

1,317

11.6%

2. Details of Consolidated Financial Forecast for FY18(1) Consolidated Financial Forecast for FY18
FY18 (Forecast)
Items

ChangeAmount affected due

Ratio

Operating revenues

FY17 (Results)
Ratio

to TIAT consolidation

Millions of yen％

Millions of yen

Millions of yen

Rate of

Initial forecast (May 2018)

ChangeAmount affected due to

Ratio

Difference

TIAT consolidation％ Millions of yen％

Millions of yen％

Millions of yen Millions of yen

277,100

100.0

31,300225,953

100.0

51,14622.6

266,008

100.0

31,477

11,091

Facilities management

81,00029.2

20,40058,44325.9

22,55638.6

80,64630.3

20,563353

Merchandise sales

176,200

63.6

10,700147,787

65.4

28,412

19.2

166,168

62.5

10,73810,031

Food and beverage

200

175

Cost of sales

19,9007.2

19,722

8.7

177

0.9

19,1937.2

135,900

49.0

122,22654.1

13,673

11.2

127,466

47.9

8,433

125,000

45.1

111,480

49.3

13,51912.1

116,974

44.0

8,025

Cost of sales of merchandise(Ratio)(10,900

Cost of sales of food and beverage(Ratio)Gross profit

70.9％)((

75.4％)(-4.5P)

10,7463.9

54.8％)(

4.8

54.5％)

153(

10,4921.4( 0.3P)

70.4％)(

706( 0.5P)407

3.9

54.7％)( 0.1P)

141,200

51.0

103,72645.9

37,473

36.1

138,541

52.1

2,658

119,500

43.2

90,29640.0

29,20332.3

117,998

44.4

1,501

13,429

5.9

8,270

61.6

20,542

7.7

3,266

1.4

-5,566-170.4-2,360-0.9

16,696

7.3

2,703

16.2

18,182

6.8

-172

-0.1

23,072-

23,027

8.7

11,776

5.2

20,623175.1

31,36911.8

Selling, general andadministrative expenses

Operating invome

21,7007.8

Non-operating income/loss-2,300-0.8

Ordinary income

19,400

7.0

Extraordinary income/loss

22,9008.3

32,40011.7

Net income attributable toowners of parent* Preconditions: Forecast of number of passengers
Haneda domestic (full-year)+ 1.7% YoY

Haneda international (full-year)+ 6.8% YoY

Narita international (full-year)+ 7.8% YoY

Kansai international (full-year)+ 6.7% YoY

Central Japan international (full-year)+ 6.3% YoY

8,800
3,700

21,100

8,791

1,157
60

3,619

1,217
-127

20,935

1,030* Ratio: Cost of sales of merchandise / Operating revenues of merchandise
Ratio: Cost of sales of food and beverage / Operating revenues of food and beverage

29

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

2. Details of Consolidated Financial Forecast for FY18(2) Financial Forecast by Segment(i) Facilities management
FY18 (Forecast)
Items
Ratio

FY17 (Results)
ChangeAmount affected due

Ratio

to TIAT consolidation

Millions of yen％

Millions of yen

Millions of yen

Rent revenues

17,500

20.3

4,000

13,27822.0

Facility user charges revenues

43,70050.6

24,70018,754

Other revenues

19,80023.0-8,200Subtotal

81,000

93.9

5,300

ChangeRatio

Amount affected due

Difference

to TIAT consolidation％

Millions of yen

％

4,221

31.8

17,594

21.1

3,983

-94

31.0

24,945133.0

42,94651.6

23,968753

26,41043.7-6,610-25.0

20,10524.1-7,388-305

20,50058,44396.7

22,55638.6

80,64696.8

20,563

353

6.1

3,500

2,007

3.3

3,292

163.9

2,693

3.2

839

2,606

86,300 100.0

24,00060,451

100.0

25,84842.8

83,339100.0

21,403

2,960

Operating expenses

72,90084.5

16,20053,73688.9

19,16335.7

75,07990.1

18,334-2,179Operating income

13,400

15.5

7,800

6,714

11.1

6,685

99.6

8,260

9.9

3,068 ※ 5,139

Sales to external customers

Intersegment sales
Total(Ratio)( 15.5％)-(％ Millions of yen

Initial forecast (May 2018)

Rate of

11.1％)( 4.4P)・Rent revenues:(

Millions of yen Millions of yen

9.9％)International terminal rental income
Increase in leasable space from opening of “THE HANEDA HOUSE” etc.
・Facility user charges revenues: Fees for use of passenger facilities for international flights, etc.
Increase in fees for use of passenger facilities for domestic flights
・Other revenues:
Revenues from parking fees, paid airport lounges, advertising fees, etc.
for international terminal
Revenues from paid airport lounges, advertising fees, etc. for domestic terminal
Increase in income from hotel business
Decrease in subcontracted work revenues, etc.
Decrease in Haneda international terminal commissioned facility management revenues fromconsolidation-( 5.6P)＋ 3.9 billion＋ 0.2 billion＋24.7 billion＋ 0.2 billion＋ 4.6 billion＋ 0.4 billion＋ 0.1 billion－ 0.7 billion－ 9.8 billion※ Upon distributing expenses between the facilities management and the merchandise sales segments, differences between the initial forecasts
and the results were corrected in the full-year forecast.

30

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

2. Details of Consolidated Financial Forecast for FY18(2) Financial Forecast by Segment(ii) Merchandise sales
FY17 (Results)

FY18 (Forecast)
Items
Ratio

ChangeAmount affected due

Ratio

to TIAT consolidation

Initial forecast (May 2018)

Rate of
ChangeRatio

Amount affected due

Difference

to TIAT consolidation
Millions of yen Millions of yen％ Millions of yen％

Millions of yen

％

23.6

546

1.6

35,239

21.1

-

460

35,49723.9

66,602

187.6

94,86256.8

58,364

7,237-51,700

77,136

51.9-38,736-50.2

36,067

21.6-47,626

2,332

99.5

10,700147,787

99.4

28,412

19.2

166,168

99.5

10,73810,031

900

0.5

-

860

0.6

39

4.6

842

0.5

-

57

177,100

100.0

10,700148,647

100.0

28,45219.1

167,011100.0

10,73810,088Operating expenses

161,100

91.0

7,400

137,324

92.4

23,775

17.3

148,668

89.0

3,966

12,431

Operating income

16,0009.0

3,300

11,322

7.6

4,677

41.3

18,342

11.0

6,771 ※ -2,342

Millions of yen％

Millions of yen

Millions of yen

Domestic terminal stores

35,70020.2-

35,153

International terminal stores

102,100

57.6

62,40038,40021.7

176,200

Sales to external customers

Other sales
SubtotalIntersegment sales
Total(Ratio)(・Domestic terminal stores:
・International terminal stores:

・Other sales:

9.0％)

-

(

( 1.4P)7.6％)( 11.0％)

Increase in sales of directly managed stores at Haneda domestic terminal, etc.
Sales of Haneda international terminal duty-free stores
Increase in sales of directly managed stores at Narita Airport
Decrease in sales of directly managed stores at Kansai Airport
Increase in sales of directly managed stores at Chubu Centrair Airport
Increase in sales of urban duty-free stores
Increase in wholesale sales to Narita Airport, Chubu Centrair Airport and other regional
airports
Decrease in Haneda international terminal duty-free store wholesale sales from subsidiaryconsolidation-( -2.0P)＋ 0.4 billion＋62.3 billion＋ 1.5 billion－ 0.6 billion＋ 1.0 billion＋ 1.7 billion＋ 4.4 billion－43.0 billion※ Upon distributing expenses between the facilities management and the merchandise sales segments, differences between the initial forecasts
and the results were corrected in the full-year forecast.

31

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

2. Details of Consolidated Financial Forecast for FY18(2) Financial Forecast by Segment(iii) Food and beverage

FY18 (Forecast)
Items
Ratio

FY17 (Results)
ChangeAmount affected due

Ratio

to TIAT consolidation

Millions of yen％

Millions of yen

Millions of yen

Sales from restaurants

12,400

54.9

3,000

9,846

44.2

Sales from in-flight meals

6,700

29.7

-

6,588

800

3.5

-2,80019,900

88.1

2,700

Sales to external customers

SubtotalIntersegment sales
Total
Operating expenses

Ratio

Amount affected due

Difference

to TIAT consolidation

Millions of yen

％

2,553

25.9

11,885

54.2

2,768

514

29.6

111

1.7

6,585

30.1

-

114

3,286

14.7

-2,486

-75.7

722

3.3

-2,59377

200

19,722

88.5

177

0.9

19,193

87.6

175

706

11.9

-

2,563

11.5

136

5.3

2,712

12.4

-

-12

22,600 100.0200

22,285

100.0

314

1.4

21,905

100.0

175

694

21,80096.5

20021,389

96.0

410

1.9

21,117

96.4

117

682

800

3.5

-

896

4.0

-96

-10.8

788

3.6

58

11

-

(-0.1P)

Operating income(Ratio)Change％Other sales(

・Sales from restaurants:
・Sales from in-flight meals:
・Other sales:

3.5％)

-

(

％ Millions of yen

Initial forecast (May 2018)

Rate of(-0.5P)

4.0％)(

Revenues from international terminal restaurants
Decrease from closure of some domestic terminal restaurants
Increase in sales from new customer agreements, etc.
Decrease in commissioned facility management revenues
from international terminal restaurants

32

Millions of yen Millions of yen

3.6％)＋ 3.0 billion－ 0.4 billion＋ 0.0 billion－ 2.5 billion

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

3. Other Information(1) Capital Expenditure and Depreciation Expenses
FY13

FY14

FY15

FY16

FY17

FY18

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

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Capital expenditure

5,765

4,830

8,379

6,853

27,88554,791

Depreciation expenses

12,68011,872

11,232

11,60910,806

24,838Items

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

• Breakdown of Major Capital Expenditures

FY18 (Forecast)

FY17 (Results)

Building 2 internationalization construction
Building 2 internationalization construction

Building 1 renovation¥19.2 billion¥27.7 billion¥3.0 billion

Lounge renovation construction¥1.1 billion

Repair and upgrade of various equipment and facilities¥2.7 billion

Parking Lot 4 expansion¥1.0 billion

Upgrade of crime prevention/disaster-readiness equipment

Construction of dormitory for single employees¥0.9 billion¥2.3 billion
PBB upgrade and bridge repair¥2.3 billion(TIAT investment plan

¥12.5 billion)

・Breakdown of main depreciation expenses
FY13(Results)

FY14(Results)

FY15(Results)

FY16(Results)

FY17(Results)

FY18(Forecast)Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Terminal 1

4,000

3,900

4,000

4,400

4,300

4,000

Terminal 2

5,400

5,000

4,400

4,100

3,800

4,000

P4 Parking

500

400

400

300

300

300

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

（Reference）

T

I

A

T

FY13
(Results)

FY14(Results)

FY15(Results)

FY16(Results)

FY17(Results)

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

10,060

10,202

6,600

33

9,748

9,492

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

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

1,600

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

Great East Japan Earthquake

Chubu International
Airport opened

SARS outbreakY2K task

2,000

Subsidiary consolidationof TIAT (Apr. 2018)

H1N1 influenza outbreak

2,400

Financial realignment

2,800

Hikes in the price of
crude oilFinancial crisis being
triggered by the US(right) Ordinary income (results)
Iraq war(right) Cash flows (forecast)

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

Voluntary closure of
Yamaichi Securities(left) Operating revenues (forecast)

Narita Airport Terminal 2
started operation

3,200

Billionsof yen(left) Operating revenues (results)

Kansai International
Airport opened

Billionsof yen

400
350

321

300
250

Haneda Airport Terminal 2
started operation (Dec. 2004)

Haneda Airport Terminal 1
started operation (Sep. 1993)

450

196
200

181 157
194

1,200

171
151

800

139

133

118

107
49

400

36

31

150

166

146
136 128

100
50

57

1

0
90

91

92

93

94

95

96

97

98

99

00

01

02

03

04

34

05

06

07

08

09

10

11

12

13

14

15

16

←

→

17

18

0

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

Second Quarter of FY18

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.
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/

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 2International
Passenger
Terminal

Terminal 1・ 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), establishedthrough investment with airline companies
and other entities and centered on Japan
Airport Terminal Co., Ltd.
・ International passenger terminal building
management and operation
・ Real estate leasing (office space, stores,
etc. for airline companies and airport-based
businesses)
・ Operation of duty-free stores, others
・ Food and beverage services
・ Passenger services
・ Management of parking lots

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
Airport

Chubu Centrair
International Airport• Commissioned management of
duty-free stores• Merchandise sales (duty-freestores)• Wholesale• Wholesale• Merchandise sales (duty-free stores)

36

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

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

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(July)

Established with private sector capital of 150 million yen.

1955

(May)

The terminal building opened and launched operation.

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

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

1978

(May)

1990

(February)

Listed on second section of the Tokyo Stock Exchange.

1991(September)

Listed on first section of the Tokyo Stock Exchange.

1993(September)

Haneda Airport Terminal 1 (Big Bird) started operation.

1994(September)

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

2001(February)

International charter flights commenced at Haneda Airport.

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

2004(December)

Terminal 2 at Haneda Airport started operation.

2005(February)

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

2006(April)operations with the opening of Narita International Airport.

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

Terminated periodic international flights from Haneda Airport (transfer of China Airlines and the
EVA Airways to Narita).

Participated in the project of the maintenance and operation of terminal at international flightarea of the Tokyo International Airport.

(June)

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.

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

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

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

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

2007

2010

(October)
2011

Haneda Airport Terminal when opened

Haneda Airport Terminal 1

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

(January)

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

(November)

Renewal of Terminal 1 building, Haneda Airport completed.

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

2014(March)Start of usage of international passenger terminal building expansion.

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

Haneda Airport Terminal 238

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

Food andbeverage
operations

Merchandise
sales
Total:
operations
20 companies

Food and beverage operations

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

5 companies

 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
 LANI KE AKUA PACIFIC, INC.
Restaurant business KAIKAN KAIHATSU Co., Ltd.
Restaurant business, management and operation of
lodging, halls and meeting rooms

8 companies

Merchandise sales operations

7 companies

 Japan Duty Free Fa-So-La Isetan Mitsukoshi Co., Ltd.
Development of airport duty-free stores (bonded stores) inurban areas
 International Trade Inc.
Wholesale business and merchandise sales to Japanese airport
retail stores and other clients Japan Airport Logitem Co., Ltd.
Merchandise transport, delivery and inspection
 Air BIC INC. Retail sales of home appliances Haneda Airport Enterprise Co., Ltd.
Store operation business Japan Airport Terminal Trading (Chengdu) Co., Ltd.
Merchandise sales and wholesale business at Chengdu
Shuangliu International Airport
 Hamashin Co., Ltd.
Wholesale and retail sales of marine products39

1. Outline of the Company(5) Revenue Composition/Details by Segment, Composition of Sales
Office lease (fixed rent); store lease
Rent revenue (fixed rent + percentage commission) at
Haneda domestic and international terminals
Facilities
management
operations

Facility user

Fees for use of passenger facilities (Haneda

chargesdomestic and international flights: PSFC),

revenueinternational terminal PBB user charges, others

OthersStores atdomestic
terminal

Expenses details

Revenue details

Category

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

Parking fee revenue, advertising revenue andLease fee (such as national property

sales from paid airport lounge at Haneda

usage fee); taxes and public charges

domestic and international terminals(fixed asset tax); outsourcing fees

Merchandise sales for stores at Haneda domestic
terminal stores

Cost of sales; supply expenses

Merchandise sales for stores at Haneda
Stores at
Merchandiseinternationalsales

terminal

operations

international terminal stores; Merchandise sales
from airport duty-free stores, etc. at Narita
International Airport, Kansai International
Airport and Chubu Centrair International Airport,

Cost of sales; supply expenses;
percentage of business; agent service
fee

urban duty-free store sales
Wholesale sales to Narita International Airport,
Kansai International Airport, and Chubu Centrair
OthersInternational Airport; Commissioned

Cost of sales; agent service fee

management revenues at Narita International
Airport and Kansai International Airport.
Restaurants
Food andbeverage

Restraurant sales at Haneda Airport domestic

Food expenses (cost of sales for foodand international terminal and Narita

and beverage); percentage ofInternational Airport

business; outsourcing costs

In-flight meals Production and sales of in-flight meals

operations
OthersFood expenses (cost of sales for foodand beverage)

Wholesale of products such as frozen foods, box Food expenses (cost of sales for foodmeals, etc.

and beverage); outsourcing costs40

1. Outline of the Company(6) Changes in Capital Investment41

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

Spots/232■ Runway
・Runway A

3,000 m×60 m

１・Runway B

2,500 m×60 m

2・Runway C

3,360 m×60 m

3・Runway D

2,500 m×60 m

43

Runway capacity Approx. 447,000
flights/year

６

4■ Terminal building
・Terminal building 1

５

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

６

2

10

11

９

８

Floor space/255,600 ㎡
Spots (stationary boarding bridge
present)/23 locations
・International terminal building

５
７１

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

９・P3

Capacity/2,450 vehicles

10

・P4

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

11

12

1３

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

1３42

２．Summary of Tokyo International Airport (Haneda)(2) Comparison of Passenger Volume
Japan Airport Passenger Volume Ranking(FY17)

Global Airport Passenger Volume Ranking(2017 calendar year)

Code

Annual (thousandpeople)Daily average(thousand people)

Share (%)

HND

85,679 (68,559)

234

27.3

2 Narita
International
3 KansaiInternational

NRT

38,962 (7,460)

106

12.4

KIX

28,710 (6,901)

78

9.1

4 Fukuoka

FUK

23,979 (17,645)

65

7.6

Airport1

Haneda(Tokyo International)

City/Airport

Code

Annual(thousand people)

1

AtlantaATL103,9022

Beijing Capital International

PEK

95,786

3

Dubai

DXB

88,242

4

Tokyo (Haneda)

HND

85,4085

Los Angeles

LAX

84,557

6

Chicago (O’Hare)

ORD

79,828

7

London (Heathrow)

LHR

78,0145 New Chitose

CTS

23,092 (19,597)

63

7.3

6 NahaOKA

21,161 (17,524)

57

6.7

7 Osaka
International
8 Chubu Centrair
International

ITM

15,677 (15,677)

42

5.0

NGO

11,523 (5,975)

31

3.7

9 Kagoshima

KOJ5,686 (5,351)

15

1.8

8

Hong Kong

HKG

72,664

10 SendaiInternational

SDJ

3,439 (3,158)

9

1.1

9

Shanghai (Pudong)

PVG

70,001

10 Paris (Charles De Gaulle)

CDG

69,47178 other airports

56,474 (53,200)

18.0

Source: ACI (Airports Council International) publication“Annual World Airport Traffic Report 2018 Edition”

Figures in parentheses are airport passenger volume for domestic flights.
Material: Airport ranking chart for FY17, Japan Civil Aviation Bureau (MLIT)

43

２. Summary of Tokyo International Airport (Haneda)(3) Domestic Destinations and Flights

Okinawa

Code

Flights/day

Okayama

OKJ

10

Hiroshima

HIJ

17

Yamaguchi Ube

UBJ

10

Tottori

TTJ

5

Yonago

YGJ

Izumo

City
Toyama

TOY

4

Noto

NTQ

2

Komatsu

KMQ

10

6

Nagoya (Chubu)

NGO

3

IZO

5

Osaka (Itami)

ITM

30

Iwakuni

IWK

5

Osaka
(Kansai Airport)

KIX

13

Hagi Iwami

IWJ

2

Kobe

UKB

9

Takamatsu

TAK

13

Nanki Shirahama

SHM

3

Tokushima

TKS

11

Matsuyama

MYJ

12

Kochi

KCZ

10

Fukuoka

FUK

54

Kitakyushu

KKJ

16

Saga

HSG

5

Oita

OIT

14

Kumamoto

KMJ

18

NagasakiNGS

14

Miyazaki

KMI

18

Kagoshima

KOJ

23

Amami Oshima

ASJ

1

Okinawa (Naha)

OKA

31

MiyakoMMY

2Ishigaki

ISG

4TohokuKinki

Hokkaido

Flights/day

Chubu

Code

Kanto

KyushuShikoku

ChugokuCity

Domestic flights 48 routes
Approx. 497 flights (departures)/day(excluding code share flights)

44

City

Code

Flights/day

Sapporo (Chitose)

CTS

52

Wakkanai

WKJ

1Asahikawa

AKJ

7

Obihiro

OBO

7

Kushiro

KUH

6

Mombetsu

MBE

1

Memanbetsu

MMB

5

Nakashibetsu

SHB

1

Hakodate

HKD

8

Aomori

AOJ

6Misawa Hachinohe

MSJ

3Odate-Noshiro

ONJ

2

Akita

AXT

9

Yamagata

GAJ

2

Shonai

SYO

4

City

Code

Flights/day

Hachijojima

HAC

3(As of November 2018)

２. Summary of Tokyo International Airport (Haneda)
City name(4) International Destinations and Flights

Code

Slots/day

East Asia

International flights to 30 cities, 33 routes
Approx. 118 flights departing per day

Beijing

PEK

Hong Kong

HKG

Shanghai

China（Honggjao）
Shanghai（Pudong）

PVG

1
6
2
4
5
4
4

Guangzhou

CAN

Tianjin

TSN

2

GMP

12

Seoul
（Gimpo ）
Korea

Seoul
（Incheon ）Taipei（Songshan）

TaiwanSHA

8Taipei（Taoyuan）

INC

1
2

TSA

8

TPE

2

South East Asia

LondonFrankfurt

Vancouver

Paris
MunichBeijing

TianjinSeoul (Inchon)
Shanghai (Pudong)

Doha

ChicagoSan Francisco

HanedaTaipei (Taoyuan)
Hong Kong
Honolulu

ManilaBangkok

1

Singapore

Singapore

SIN

Philippines

ManilaMNL

Indonesia

Jakarta

CGK

Thailand

Bangkok

BKK

Malaysia

Kuala Lumpur

KUL

2

SydneySYD

2Vancouver

YVR

1TorontoYYZ

1Honolulu

HNL

Kona

KOA

1

San Francisco

SFO

2

Los Angeles

LAX

3

New York

JFK

2Minneapolis

MSP

1

Chicago

ORD

1

France

Paris

CDG

4

UK

LondonLHRFrankfurt

FRA

MunichMUC

2
1

New York

Taipei (Songshan)

Guangzhou
Hanoi

2

SGN

Los Angeles

Shanghai(Hongqiao)
Dubai

HAN

TorontoMinneapolis

Seoul(Gimpo)Hanoi
Ho Chi Minh City

VietnamKona

Ho Chi Minh City

5
2
2
1
2
1
3
4

Oceania

Kuala Lumpur

Australia
North America

Singapore
CanadaJakarta

USA

Sydney2
1Europe6:00–23:00

Germany

23:00–6:00

3
1
2
1

Middle East

Both daytime flight and late night/early morning flight hours

UAE

Dubai

DXB

Qatar

Doha

DOH

International departure total

45

1
118

(As of November 2018)

２. Summary of Tokyo International Airport (Haneda)(5) Summary of Tokyo International Air Terminal Corporation
Background of Receipt of Increased Private
Allotment of Shares

Summary of TIAT
1. Company Name Tokyo International Air Terminal Corporation
2. Date Founded•

June 20, 2006

meetings held by the Ministry of Land, Infrastructure, Transport

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

13,265,000,000 yen

5. Businesses

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.)

Proper provision of information primarily through explanatory
and Tourism to promote understanding among as many residents
as possible of efforts to enhance the functionality of Tokyo-area
airports (increase in schedule of international flight departures andarrivals).

•

Given these conditions, TIAT embarked on a terminal building
upgrade and expansion plan to cope with projected growth in

7. Composition of Shareholders
Japan Airport Terminal Co., Ltd. (51.00%);
Japan Airlines Corporation; ANA HOLDINGS
INC.; Narita International Airport Corporation;
TEPCO Energy Partner, Incorporated; SECOM
Co., Ltd. ; Tokyo Gas Co., Ltd.; Keihin Electric
Express Railway Co., Ltd.; Tokyo MonorailCo., Ltd.; NTT Data Corporation;
Development Bank of Japan Inc.; Mizuho
Bank, Ltd.; The Bank of Tokyo-Mitsubishi UFJ,
Ltd.

international flight passengers, with a portion of the required funds
to be procured through the issuance of new shares.

•

To fulfill its duties as the representative company of TIAT, and tocooperate on ensuring more solid implementation of this project,
Japan Airport Terminal acquired additional shares.

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.

•

After the payment process was complete, Japan Airport Terminal
holds an equity stake of 51%, converting TIAT from an equitymethod affiliate into a subsidiary.

46

２. Summary of Tokyo International Airport (Haneda)(6) International Rating of the Haneda Airport Passenger Terminal (evaluated by SKYTRAX)
Earned “5 Star Airports” status in the “Global Airport Rating” for a fifth consecutive year
(Haneda Airport domestic and international passenger terminals)
Haneda Airport passenger terminals earned “5 Star Airports” rating, the world highest status, according to the“Global Airport Ranking” by UK-based evaluator SKYTRAX for a fifth consecutive year.
Over the last year, by ascertaining diversifying needs of both domestic and international flight customers, we havepursued further convenience and comfort of passengers, such as enhancing the ease of use of stores and facilities forJapanese as well as non-Japanese passengers. As a result, we continued to be ranked high regarding various items,
including staff service level, facilities’ ease of use and airport’s cleanliness.
Last year Last year, Haneda Airport's passenger volume exceeded 85 million and it is expected that the figure willfurther increase ahead of the 2020 Tokyo Olympics and Paralympics. Serving as an air gateway to the Tokyo
metropolitan area, all our highly motivated airport staff will always strive to provide facilities and services from theperspective of customers and pursue a “Vision” for Haneda Airport with the aim of becoming an airport that continues

to be trusted by customers worldwide.

Ranked 1st in “The World’s Cleanest Airports” category for a third consecutive year
(Haneda Airport domestic and international passenger terminals)
Ranked 1st in “The World’s Cleanest Airports” category for a third consecutive year

(Haneda Airport domestic passenger terminals)
In “The World’s Cleanest Airports” category, which evaluates airport cleanliness, comfort and other features, Haneda
Airport was ranked first for the fifth time and for the third year in a row.
In “The World’s Best Domestic Airports” category - an overall ranking of domestic airports - Haneda Airport ranked
first in the world for a sixth consecutive year, with the rating praising elements such as the airport’s ease of use andcomfortability.
Meanwhile, in “The World’s Best Airports” category, Haneda Airport placed third in the world in this omnibus ranking.

47

Notes regarding projections
Items such as plans, targets, policies, strategies, decisions, financial forecasts,
future figures and monetary amounts in this presentation that is not historical
data are projections of the future. These are based on management’s
projections, assumptions, evaluations, judgments, and conditions on
information obtainable at the present time. Realizing these items entail
uncertainty and various risks.

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

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