Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2019 (FY2018) [J-GAAP](Consolidated)
November 7, 2018
This document has been translated from the Japanese original, for reference purposes only. In the event of any discrepancy between this translated
document and the Japanese original, the original shall prevail.

Company name:
Code number:
Representative:
Contact:

Japan Airport Terminal Co., Ltd.
Listed stock exchange: Tokyo, 1st Section
9706
URL: http://www.tokyo-airport-bldg.co.jp/
Nobuaki Yokota, President and COO
Kazuhito Tanaka, Managing Director
TEL 03-5757-8409
Scheduled date of filing securities report:
November 14, 2018
Scheduled date of commencing dividend payment:
December 4, 2018
Supplementary materials on financial results (yes/no)
Yes
Holding of quarterly earnings announcement (yes/no)
Yes (for institutional investors and financial analysts)(Figures are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the First Six Months of FY2018 (April 1, 2018 to September 30, 2018)(1) Consolidated Business Results (Cumulative)%: Change from the same period of the previous year

Operating revenues
First Six MonthsofOperating income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

137,423
108,066

27.2
8.2

12,961
6,748

92.1
51.2

11,761
8,748

34.4
40.3

28,202
6,193

355.3
44.2

FY2018FY2017(Note) Comprehensive income: First six months of FY2018 ¥31,593 million (346.3%)

First Six Monthsof

Net income attributable toowners of the parent

Ordinary income

Net income per
share
Yen

Diluted net income
per shareYen

347.2076.25

331.6772.78

FY2018FY2017First six months of FY2017 ¥7,079 million (51.4%)(2) Consolidated Financial Position
Total assets

Equity capital tototal assets

Net assets

Net assets per share

Millions of yen

Millions of yen%

Yen

473,860
239,389

198,103
136,15634.0
55.7

1,985.46
1,641.82

As of September 30, 2018
As of March 31, 2018

(Reference) Equity capital: As of September 30, 2018 ¥161,275 million

As of March 31, 2018 ¥133,362 million

2. Dividends
Dividends per share
Q1-EndFY2017FY2018FY2018 (Forecast)

Q2-EndQ3-EndYear-End

Annual

Yen

Yen

Yen

Yen

Yen

-

20.00
23.00

-

24.00

44.00

-

21.00

44.00

(Note) Revisions to the most recently announced dividends forecast for FY2018: Yes
For the revision of dividends forecast, please refer to the “Announcement of the dividend of retained earnings (interim dividend)” announced on
November 7, 2018 (in Japanese only).

3. Forecast of Consolidated Financial Results for FY 2018 (April 1, 2018 to March 31, 2019)%: Change from the same period of the previous year

Full-year

Net income attributableto owners of the parent

Ordinary income

Net income
per share

Operating revenues

Operating income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

277,100

22.6

21,70061.6

19,40016.2

32,400175.1

398.87(Note) Revisions to the most recently announced forecast of consolidated financial results for FY2018: Yes

* Notes(1) Significant changes in subsidiaries during the period under review (changes in specified subsidiaries involving changes in scopeof consolidation): Yes
New: 1 company (Tokyo International Air Terminal Corp.) Excluded: None
(Note) For details, please refer to page 10 of the appendix materials “2. Quarterly Consolidated Financial Statements and Notes(3) Notes on Quarterly Consolidated Financial Statements: Significant Changes in Subsidiaries during the Period under
Review”.
(2) Adoption of special accounting methods for preparation of quarterly consolidated financial statements: Yes(Note) For details, please refer to page 10 of the appendix materials “2. Quarterly Consolidated Financial Statements and Notes(3) Notes on Quarterly Consolidated Financial Statements: Adoption of Special Accounting Methods for Preparation of
Quarterly Consolidated Financial Statements”.
(3) Changes in accounting policies, accounting estimates, and restatement of revisions
1) Changes in accounting policies due to revisions of accounting standards, etc.: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Restatement of revisions: None
(4) Number of shares outstanding (common stock)1) Number of shares outstanding at the period-end (including treasury stock):
As of September 30, 2018
84,476,500 shares
As of March 31, 2018
2) Number of treasury stock at the period-end:
As of September 30, 2018
3,247,883 shares
As of March 31, 2018
3) Average number of shares outstanding (quarterly consolidated cumulative period):
Second quarter of FY2018
81,228,710 shares
Second quarter of FY2017

84,476,500 shares
3,247,735 shares
81,228,851 shares* This quarterly financial report is not subject to the quarterly review 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 forecast and precautionary statements regarding the use of the forecasts, please refer to page 4 of the appendix materials “1.
Qualitative Information on Consolidated Financial Results for the First Six Months of FY2018 (3) Explanation of Consolidated
Financial Forecasts and Other Forward-looking Statements”.
Supplementary materials on quarterly financial results and details of presentation at earnings announcement
Earnings announcement is planned to be held on November 13, 2018 for institutional investors and financial analysts. Video of thepresentation will be promptly posted on the Company’s website following the meeting.

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2019 (FY2018)

Contents of the Appendix Materials
1. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR THE FIRST SIX MONTHS OF
FY2018 (APRIL 1, 2018 TO SEPTEMBER 30, 2018) .............................................................................................................................. - 2 (1) EXPLANATION OF OPERATING RESULTS ...................................................................................................................... - 2 (2) EXPLANATION OF FINANCIAL POSITION ...................................................................................................................... - 4 (3) EXPLANATION OF CONSOLIDATED FINANCIAL FORECASTS AND OTHER FORWARD-LOOKING STATEMENTS .................... - 4 2. QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS AND NOTES ............................................................................. - 5 (1) QUARTERLY CONSOLIDATED BALANCE SHEETS ........................................................................................................... - 5 (2) QUARTERLY CONSOLIDATED STATEMENTS OF INCOME AND QUARTERLY CONSOLIDATED STATEMENTS OF COMPREHENSIVEINCOME .................................................................................................................................................................. - 7 Quarterly Consolidated Statements of Income ................................................................................................................ - 7 Quarterly Consolidated Statements of Comprehensive Income .......................................................................................... - 9 (3) NOTES ON QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS .............................................................................. - 10 (NOTES ON THE PREMISE OF A GOING CONCERN) ........................................................................................................... - 10 (NOTES ON A SIGNIFICANT CHANGE IN SHAREHOLDERS’ EQUITY) ................................................................................... - 10 (SIGNIFICANT CHANGES IN SUBSIDIARIES DURING THE PERIOD UNDER REVIEW)............................................................ - 10 (ADOPTION OF SPECIAL ACCOUNTING METHODS FOR PREPARATION OF QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS)...................................................................................................................................................................... - 10 (ADDITIONAL INFORMATION) ......................................................................................................................................... - 10 (SEGMENT INFORMATION, ETC.) ..................................................................................................................................... - 11 --1-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2019 (FY2018)

1. Qualitative Information on Consolidated Financial Results for the First Six Months of FY2018(April 1, 2018 to September 30, 2018)(1) Explanation of Operating Results
During the first six months of the fiscal year ending March 31, 2019, the Japanese economy has
experienced a gradual recovery. Looking ahead, continuing improvement in employment and income,coupled with various government policies, is expected to support moderate economic recovery, though it isimportant to prudently monitor various issues such as effects of rising trade tensions on the global economy,
the uncertainty in overseas economies, volatility of capital markets as well as the economic impacts of aseries of natural disasters.
Looking at our business environment, the Japanese government targets 40 million annual inboundtourists for Japan in 2020. The volume of inbound tourists in 2018 has increased year-on-year, reaching forthe first nine months (January–September) at 23.46 million, due to growth in total seat capacity fueled by
new routes and an increase in flights, as well as continuing promotional campaigns for traveling to Japan. On
the other hand, there is a concern that natural disasters such as an earthquake that struck north of Osaka, anumber of typhoons, and Hokkaido Eastern Iburi Earthquake will negatively impact the demand for inboundtourism, as shown by the fact that monthly number of foreign visitors to Japan in September 2018 declined
from the year earlier.
A review of passenger traffic during the first six months shows that passenger volume at Haneda Airports,
both on domestic and international flights, rose year-on-year since airline companies increased theirnighttime flights at Haneda’s international routes and offered various demand-based discount pricing,although the pace of growth in passenger volume has slowed since July 2018 due to natural disasters.
International flights at Narita International Airport also increased year-on-year because of robust passenger
traffic as well as additional flights following the disaster that hit Kansai International Airport.
Under these circumstances, the Japan Airport Terminal (“JAT”) group has embraced its long-term vision“To be a World Best Airport” that satisfies the needs of all stakeholders. To achieve this long-term vision, themedium-term business plan has been developed and implemented as our five-year growth strategy until
FY2020. This medium-term business plan was reviewed to keep up with the current corporate growthstrategy and updated to reflect recent developments, including consolidation of Tokyo International Air
Terminal Corp. (“TIAT”) by subscribing for a third-party allotment of shares in April 2018, as well as thestrengthening of airport functions to meet the increasing demand of international flights after 2020. Our mainpriority for FY2018 is to realize the intended effects and purpose of consolidation of TIAT, achieve
appropriate results, respond to changes in the business environment, and further improve the performance of
airport-style in-city duty-free shops. While pursuing these priorities, JAT group is implementing various
measures based on three strategic pillars: 1) Pursuit of the ideal of Haneda Airport, 2) Expansion of ourbusiness domain utilizing our strengths and the diversification of profits, and 3) Reconstruction of our profit
base and the building of competitive advantages.
With regard to “Pursuit of the ideal of Haneda Airport”, passenger terminal facilities are being
constructed with a view toward re-expansion of Haneda international flights. As part of this project, theboarding stations near the North Pier of Terminal 2 began operating in May 2018. The satellite facility at theNorth Pier of Terminal 2 will commence operation in December 2018. Other re-expansion projects areproceeding in line with the construction schedule that will be completed for service by March 2020. In
addition, renovation project started at Terminal 1 from October 2018 to improve passenger convenience andterminal environment. Furthermore, in a drastically changing business environment, we believe that it isimportant not only to utilize our experience and know-how more extensively, but also to expand our businessdomain by bringing in expertise that our company does not possess, so that we can achieve more stable
growth by taking full advantage of the prominent location of Haneda Airport. To this end, Haneda Future
Research Institute Inc. was established on July 2, 2018. This business will be undertaken in consideration of
the perspective that art and culture will play a vital role in supporting the Japanese economy after the 2020
Olympics. While we will contribute to regional revitalization by taking advantage of the premier location ofHaneda Airport in connecting local municipalities and Haneda Airport, we will also create new values bypromoting Japanese fine products, art, and culture. Furthermore, we will propose a future design of Japan,such as new lifestyle, while educating human resources who can meet the needs of the times and fulfilling therole as a think tank.
In terms of the “Expansion of our business domain utilizing our strengths and the diversification of
profits”, a duty-free shop at the arrival hall in international terminal was opened in April 2018, which has
shown strong results by capturing potential shopping demand. At airport-style in-city duty-free shops “Japan
Duty Free Ginza”, due to sales promotion efforts such as the expansion of duty-free retail space and brands
popular among Chinese travelers who are the main customers, actual results have surpassed projections.
With respect to the “Reconstruction of our profit base and the building of competitive advantages”, twostores of “Air BIC CAMERA” that were opened at Chubu Centrair International Airport in April and June-2-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2019 (FY2018)2018 have shown strong results by offering products that meet the needs of foreign travelers. To leverage theprofit opportunity created by foreign travelers’ spending outside of the airport, a new store was opened atDivercity Tokyo Plaza on November 2, 2018, followed after the store opening at Aqua City Odaiba. “THE
HANEDA HOUSE”, business mall project which targets business people, is now being prepared for opening
in December 2018.
Additionally, ¥30,000 million was financed on August 31, 2018 through Hybrid Loan (subordinateddebt), a strategic financing scheme that achieves both financial stability and improvement in return on capital.
As this Hybrid Loan is recognized by a credit rating agency to qualify for equity classification to a certain
extent, it serves essentially to strengthen financial structure without diluting its shares.
Consolidated financial results for the cumulative fiscal first half (April 1, 2018 - September 30, 2018) is
affected by the changes in profit structure caused by consolidating the results of TIAT as a consolidated
subsidiary and recognition of extraordinary income and loss. Under these circumstances, consolidated
operating revenues for the cumulative fiscal first half increased 27.2% compared with the same period of theprevious year to ¥137,423 million. Operating income rose to ¥12,961 million (up 92.1% year-on-year),ordinary income to ¥11,761 million (up 34.4% year-on-year) and net income (attributable to owners of theparent) to ¥28,202 million (up 355.3% year-on-year).
In September 2018, Haneda Airport’s passenger terminals were awarded “5-Star Airport” quality ranking,the highest global standard, for the fifth consecutive year in the “Global Airport Rating” evaluated by the
Skytrax (UK). As a sky gateway to Tokyo metropolitan area, we ensure a high level of professionalism
shared by all airport staffs as well as customer-oriented airport facility and services. Furthermore, in pursuitof the ideal of Haneda Airport, we aim to be the airport that earns the long-term trust of customers from allover the world.
The following is a breakdown of earnings by segment. Note that the figures for operating income are
equivalent to those for segment income.
[Facilities Management]
Since TIAT became a consolidated subsidiary, revenue at Haneda’s international terminal was added
including rental revenue, facility user charges, parking revenue, and sales from advertisement and at lounges,
while what was recognized as revenue from outsourced operation at international terminal in previous years is
now offset.
Looking at factors other than the consolidation of TIAT, rental revenue rose from the same period of theprevious year primarily due to an increase in rental spaces to airlines at domestic terminals.
Revenue from facility user charges rose from the same period of the previous year because a growth indomestic passenger volume fueled by strong demand for business travelers and inbound travelers using
domestic routes increased user charges revenue for domestic terminal facilities, despite flight cancellations due
to natural disasters.
Other revenues rose from the same period of the previous year primarily because revenue at lounge atdomestic terminals increased.
As a result, operating revenues from facilities management operations increased to ¥43,343 million (up48.0% year-on-year). Operating income for the segment was ¥8,446 million (up 123.0% year-on-year).
[Merchandise Sales]
Since TIAT became a consolidated subsidiary, sales at duty-free shops at Haneda’s international terminal
was added, while what was recognized as the revenue from wholesaling in previous years is now offset.
Looking at factors other than the consolidation of TIAT, sales at domestic terminal stores rose from thesame period of the previous year as a result of an increase in domestic passenger volume and efforts to achieve
higher average purchase price.
Sales at international terminal stores increased from the same period of the previous year, becauseinternational passenger volume grew at Haneda Airport, a new duty-free shop was opened at arrival floor, newshops were opened at Chubu Centrair International Airport, both the customer number and average pricecontinue to increase at duty-free shops at airports as a result of efforts to offer the mix of merchandise to meetcustomer interests and to bring more operational efficiency, and the various measures were taken at
airport-style in-city duty-free shops. Despite the revenue drop at the shops we operate at Kansai International
Airport due to the airport’s temporary closure, monthly merchandise sales in September 2018 increased
year-on-year due to growth in Haneda, Narita and Chubu airports.
Other revenues rose because the wholesaling of products to regional airports progressed well.
As a result, operating revenues from merchandise sales operations increased to ¥87,034 million (up 23.8%
year-on-year) and operating income rose to ¥8,102 million (up 55.4% year-on-year).
[Food and Beverage]
Since TIAT became a consolidated subsidiary, sales from food and beverage operations at Haneda’s-3-Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2019 (FY2018)

international terminal was added, while what was recognized as the revenue from the outsourced operations atinternational terminal in previous years is now offset.
Looking at factors other than the consolidation of TIAT, sales from food and beverage operations
decreased from the same period of the previous year because some restaurants and stores were closed due torenovations and construction for internationalization at domestic terminal.
Sales from in-flight meals rose from the same period of the previous year due to an increase in flights offoreign carriers, our clients in this business, and acquisition of new clients.
As a result, operating revenues from food and beverage operations increased to ¥11,523 million (up 3.2%
year-on-year) and operating income rose to ¥492 million (up 11.5% year-on-year).
(2) Explanation of Financial Position[Assets]
Current assets increased by ¥60,958 million from the previous fiscal year end to ¥132,943 million,
primarily due to an increase in cash and deposits by ¥56,163 million and in other current assets by ¥4,110
million, despite a decrease in accounts receivable by ¥2,409 million.
Fixed assets increased by ¥173,512 million from the previous fiscal year end to ¥340,916 million,
primarily due to an increase in buildings and structures by ¥114,051 million.
As a result, total assets increased by ¥234,470 million from the previous fiscal year end to ¥473,860 million.
[Liabilities]
Current liabilities increased by ¥8,103 million from the previous fiscal year end to ¥45,788 million,
primarily due to an increase in short-terms loans payable by ¥5,592 million.
Fixed liabilities increased by ¥164,420 million from the previous fiscal year end to ¥229,967 million,
primarily due to an increase in long-term loans payable by ¥132,812 million.
As a result, total liabilities increased ¥172,523 million from the previous fiscal year end to ¥275,756 million.
[Net assets]
Total net assets increased by ¥61,947 million to ¥198,103 million primarily because retained earnings
increased by ¥26,252 million.
As a result, equity ratio was 34.0% (compared to 55.7% at the previous fiscal year end).
(3) Explanation of Consolidated Financial Forecasts and Other Forward-looking Statements
Consolidated revenue for the first half surpassed forecasts in merchandise sales and food and beverage, andsales at airport-style in-city duty-free shops exceeded forecasts in particular. These results were due tobetter-than-expected passenger numbers both on domestic and international flights despite negative impacts
caused by natural disasters. Consolidated profits also surpassed forecasts (operating income, ordinary income andnet income (attributable to owners of the parent)) driven by revenue growth. Also, some of the maintenance costs
and outsourcing costs that were scheduled in the first half have been postponed to the second half.
For the second half, we expect that the revenue will grow further because passenger volume will outnumber
original forecasts. On the other hand, as a number of projects are speeding up in preparations for 2020, costs are
expected to increase due to an increase in maintenance costs following new construction projects in passenger
terminals and an increase in personnel costs needed to secure human resources, as well as costs that wereoriginally scheduled in the first half that have been carried over to the second half.
Accordingly, full-year consolidated forecasts that were previously announced on May 11, 2018 have been
partly revised as follows:
Revised Forecast of Consolidated Financial Results for FY 2018 (April 1, 2018 to March 31, 2019)(Millions of yen)
Operatingrevenues

OperatingincomeOrdinary
incomeNet income
attributable toowners of theparent

Net income
per sharePrevious Forecasts (A)266,000

20,50018,10031,300385.33

Revised Forecasts (B)277,100

21,70019,40032,400398.87

Change (B-A)
Change (%)
Reference: FY 2017 results

11,1004.2
225,953

1,200
5.9
13,4291,300
7.2
16,696

1,100
3.5
11,776

13.54
3.5
144.98-4-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2019 (FY2018)

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheets(Millions of yen)

ASSETS
Current assets
Cash and deposits
Accounts receivable
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
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Net defined benefit assets
Other investments
Total investments and other assets
Total fixed assets
TOTAL ASSETS-5-

FY2017(As of March 31, 2018)

First Six Months of
FY2018(As of September 30,
2018)

42,487
19,566
6,512
161
3,294
(37)
71,98598,65017,157
9,615
146
7,405
(30)
132,943

281,100

444,471(204,919)(254,239)

76,18011,827

190,231
21,922(8,821)(12,636)

3,005
11,371
1,159

9,286
11,371
1,193

(537)

(618)

621
21,49632,101

575
51,34655,114(26,789)(45,164)

5,311
117,987
1,889

9,950
272,761
40,72831,953
6,665
5,789
298
2,820
47,527
167,404
239,389

17,267
2
5,856
545
3,753
27,426
340,916
473,860

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2019 (FY2018)(Millions of yen)

LIABILITIESCurrent liabilities
Accounts payable
Short-term loans payable
Income taxes payable
Allowance for employees’ bonuses
Allowance for directors’ bonuses
Other current liabilities
Total current liabilities
Fixed liabilities
Bonds
Bonds with stock acquisition rights
Long-term loans payable
Lease obligations
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 (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-6-

FY2017(As of March 31, 2018)

First Six Months of
FY2018(As of September 30,
2018)

9,707
7,790
3,202
1,673
250
15,061
37,685

9,179
13,382
4,669
1,729
118
16,71045,78830,07028,210
504
3,304
471
2,986
65,547103,233

11,19530,058161,022
452
49
3,301
475
23,411
229,967
275,756

17,48921,337
92,826(3,245)
128,408

17,48921,337
119,078(3,246)
154,659

6,276

6,304

(1,259)
54
(116)
4,954
2,793
136,156
239,389

288
52
(30)
6,616
36,827
198,103473,860

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2019 (FY2018)(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive
IncomeQuarterly Consolidated Statements of Income(Millions of yen)

Operating revenues
Rent revenue
Facility user charges revenue
Other revenues
Sales of merchandise
Sales of food and beverage
Total operating revenue
Cost of sales
Cost of sales of merchandise
Cost of sales of food and beverage
Total cost of sales
Gross profit
Selling, general and administrative expenses
Salaries and wages
Provision for employees’ bonuses
Provision for directors’ bonuses
Expenses for retirement benefits
Rent expenses
Outsourcing and commission
Depreciation expenses
Other costs and expenses
Total selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividends income
Equity in earnings of affiliates
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Loss on retirement of fixed assets
Fee and commission expenses
Miscellaneous expenses
Total non-operating expenses
Ordinary income-7-First Six Months of
FY2017(from April 1, 2017
to September 30, 2017)

First Six Months of
FY2018(from April 1, 2018
to September 30, 2018)

6,639
9,448
13,77369,587
8,617
108,066

8,693
21,663
10,44286,422
10,201
137,423

52,573
5,473
58,04750,01961,112
5,616
66,72970,694

4,571
1,462
114
493
6,105
12,621
5,233
12,66843,270
6,748

5,202
1,627
118
481
8,530
14,701
11,99815,071
57,732
12,961

313
227
1,371
300
2,212

13
226
169
539
948

159
33
0
19
212
8,748

1,517
24
533
72
2,148
11,761

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2019 (FY2018)(Millions of yen)

Extraordinary gains
Gain on sales of fixed assets
Gain on offsetting assets and liabilities
Gain on negative goodwill
Other extraordinary gains
Total extraordinary gains
Extraordinary loss
Loss on retirement of fixed assets
Loss on valuation of other investments
Loss of step acquisition
Other extraordinary loss
Total extraordinary loss
Quarterly income before income taxes and non-controllinginterests
Income taxes – current
Quarterly income
Quarterly net income attributable to non-controllinginterests
Quarterly net income attributable to owners of the parent-8-First Six Months of
FY2017(from April 1, 2017
to September 30, 2017)

First Six Months of
FY2018(from April 1, 2018
to September 30, 2018)

1
1

5,626
20,126207
25,960

4
8
12

9
2,725
63
2,798

8,736

34,923

2,454
6,281

5,279
29,644

87

1,442

6,193

28,202

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2019 (FY2018)

Quarterly Consolidated Statements of Comprehensive Income(Millions of yen)

Quarterly income
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-9-

First Six Months of
FY2017(from April 1, 2017
to September 30, 2017)
6,281

First Six Months of
FY2018(from April 1, 2018
to September 30, 2018)
29,644

461
0
123

25
566
(1)
92

211

1,265

797
7,079

1,948
31,593

6,970

29,864108

1,729

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2019 (FY2018)(3) Notes on Quarterly Consolidated Financial Statements(Notes on the Premise of a Going Concern)
Not applicable(Notes on a Significant Change in Shareholders’ Equity)
Not applicable(Significant Changes in Subsidiaries during the Period under Review)
During the first quarter, TIAT became our consolidated subsidiary since the Company completed payment
procedures with regard to subscribing for a third-party allotment of shares issued by TIAT. This acquisitionchanged TIAT’s status for our consolidated accounting from an associate accounted for using the equity method toa consolidated subsidiary, which is included in the scope of consolidation. TIAT falls under the category of
specified subsidiary.
Although not falling under the category of changes in specified subsidiary, Haneda Future Research Institute Inc.
was newly established during the second quarter and included in the scope of consolidation.
(Adoption of Special Accounting Methods for Preparation of Quarterly Consolidated Financial Statements)
Calculation of tax expenses
The effective tax rate on income before taxes for the consolidated fiscal year including the second quarter after
the application of tax effect accounting is reasonably estimated, and that estimated rate is applied to net income
for the quarterly period to calculate estimated tax expenses.
(Additional Information)
Application of “Partial Amendments to Accounting Standard for Tax Effect Accounting”“Partial Amendments to Accounting Standard for Tax Effect Accounting” (Accounting Standards Board ofJapan (ASBJ) Statement No. 28 issued on February 16, 2018) has been applied from the first quarter of thecurrent fiscal year. Accordingly, deferred tax assets have been presented under investments and other assets anddeferred tax liabilities under fixed liabilities.

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Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2019 (FY2018)(Segment Information, etc.)
Segment Information
I.

First six months of FY2017 (from April 1, 2017 to September 30, 2017)
1. Sales and income (loss) by reportable segment(Millions of yen)

Reportable segments

Operating revenues
Sales to externalcustomers
Intersegment sales
and transfers
Total
Segment income(Notes)Food andBeverage

Adjustments

Quarterly
consolidated
financialstatements Note2

Facilities
Management

MerchandiseSales

28,30569,895

9,866

108,066-

108,066

989

415

1,303

2,708

(2,708)-29,294
3,787

70,3105,215

11,169441

110,775
9,444(2,708)(2,695)108,066
6,748

Total

Note 1

1. Adjustments to the segment income include ¥2,699 million of administration expenses for the parent company’s administration
divisions and others at head office which are not allocated to each of the reportable segments.
2. Segment income is adjusted with operating income recorded in the Quarterly Consolidated Statements of Income.

2. Information on impairment loss on fixed assets and goodwill, etc., by reportable segment
Not applicable

II. First six months of FY2018 (from April 1, 2018 to September 30, 2018)
1. Sales and income (loss) by reportable segment(Millions of yen)

Reportable segments

Operating revenues
Sales to externalcustomers
Intersegment sales
and transfers
Total
Segment income(Notes)Food andBeverage

Adjustments

Quarterly
consolidated
financialstatements Note 2

Facilities
Management

Merchandise
Sales

40,661

86,560

10,201

137,423-

137,423

2,682

473

1,322

4,478

(4,478)-43,3438,446

87,034
8,102

11,523492

141,902
17,042(4,478)(4,080)137,423
12,961

Total

Note 1

1. Adjustments to the segment income include ¥4,089 million of administration expenses for administration divisions at parent company’shead office and some of the subsidiaries which are not allocated to each of the reportable segments.
2. Segment income is adjusted with operating income recorded in the Quarterly Consolidated Statements of Income.
3. During the first quarter, with the acquisition of TIAT’s shares, TIAT became included in the scope of consolidation.
Accordingly, amount of assets in each reportable segment increased by ¥175,926 million for “Facilities Management”, ¥6,547 million for“Merchandise Sales”, and ¥628 million for “Food and Beverage”.

2. Information on impairment loss on fixed assets and goodwill, etc., by reportable segment
Not applicable- 11 -