Note: This document has been translated from the Japanese original, for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022) [J-GAAP](Consolidated)
November 9, 2022
Japan Airport Terminal Co., Ltd. (“the Company”) Listed stock exchange: Tokyo, Prime Market
9706
URL: https://www.tokyo-airport-bldg.co.jp/company/en/
Nobuaki Yokota, President and COO
Kazuhito Tanaka, Senior Managing Director
TEL 03-5757-8409
Scheduled date of filing securities report:
November 11, 2022
Scheduled date of commencing dividend payment:－
Supplementary materials on financial results (yes/no)
Yes
Holding of quarterly investors’ meeting (yes/no)
Yes (for institutional investors and financial analysts)
Company name:
Code number:
Representative:
Contact:(Figures are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the First Six Months of FY2022 (April 1, 2022 to September 30, 2022)(1) Consolidated Business Results (Cumulative)(%: Change from the same period of the previous year)

Operating revenues
First Six MonthsofOperating income/(loss)

Net income/(loss)
attributable to owners of
the parent

Ordinary income/(loss)

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

43,61325,896

68.4-(9,273)(21,825)-(9,759)(24,305)-(3,341)(14,478)-

FY2022
FY2021(Note) Comprehensive income/(loss): First six months of FY2022 ¥-10,708 million (-%) First six months of FY2021 ¥-21,611 million (-%)

First Six Monthsof

Net income/(loss)
per share
Yen

Diluted net income
per share
Yen(35.88)(155.45)-

FY2022
FY2021(Note) Although potential shares exist, diluted net income per share for the first six months of FY2021 is not shown due to net loss per share.
In addition, diluted net income per share for the first six months of FY2022 is not shown since potential shares do not exist.

(2) Consolidated Financial Position
Total assets

Net assets per share

Millions of yen

Millions of yen%

Yen

450,381463,878

145,300
156,009

33.4
33.2

1,614.19
1,655.32

As of September 30, 2022
As of March 31, 2022
(Reference) Equity capital:

Equity capital tototal assets

Net assets

As of September 30, 2022 ¥150,340 million

As of March 31, 2022 ¥154,170 million

2. Dividends
Dividends per share
Q1-EndFY2021
FY2022
FY2022 (Forecast)

Q2-EndQ3-EndYear-End

Annual

Yen

Yen

Yen

Yen

Yen

-

0.00
0.00

-

0.00

0.00

-

-

-

(Note) 1. Revisions to the most recently announced dividends forecast for FY2022: None
2. We have decided to postpone the announcement of the outlook for dividend payment for the fiscal year ending March 31, 2023.

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

Operating revenues

Full-year
Note:

Operatingincome/(loss)

Net
income/(loss)
per share

Net income/(loss)
attributable to ownersof the parent

Ordinary
income/(loss)

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

105,900

85.6(14,300)-(15,600)-(4,600)-(49.39)

Revisions to the most recently announced forecast of consolidated financial results for FY2022: Yes* Notes(1) Significant changes in subsidiaries during the period under review (changes in specified subsidiaries involving changes in scope of
consolidation): No
New: None
Excluded: None
(2) Adoption of special accounting methods for preparation of quarterly consolidated financial statements: Yes(Note) For details, please refer to page 12 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.: Yes
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Restatement of revisions: None
(Note) For details, please refer to page 12 of the appendix materials “2. Quarterly Consolidated Financial Statements and Notes(3) Notes on Quarterly Consolidated Financial Statements: Changes in Accounting Policies”.
(4) Number of shares outstanding (common stock)1) Number of shares outstanding at the period-end (including treasury stock):
As of September 30, 2022
93,145,400 shares
As of March 31, 2022
2) Number of treasury stock at the period-end:
As of September 30, 2022
8,808 shares
As of March 31, 2022
3) Average number of shares outstanding (quarterly consolidated cumulative period):
Second quarter of FY2022
93,136,640 shares
Second quarter of FY2021

93,145,400 shares
8,737 shares
93,136,749 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 forecasts and precautionary statements regarding the use of the forecasts, please refer to page 6 of the appendix materials “1.
Qualitative Information on Consolidated Financial Results for the First Six Months of FY2022 (3) Explanation of Consolidated
Financial Forecasts and Other Forward-looking Statements”.
Supplementary materials on financial results and details of presentation at quarterly investors’ meeting
Quarterly investors’ meeting is planned to be held on November 18, 2022 for financial analysts. Presentation materials used in themeeting 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, 2023 (FY2022)

Contents of the Appendix Materials
1. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR THE FIRST SIXMONTHS OF FY2022 (APRIL 1, 2022 TO SEPTEMBER 30, 2022) .............................................................................. - 2 (1) EXPLANATION OF OPERATING RESULTS ................................................................................................... - 2 (2) EXPLANATION OF FINANCIAL POSITION ................................................................................................... - 6 (3) EXPLANATION OF CONSOLIDATED FINANCIAL FORECASTS AND
OTHER FORWARD-LOOKING STATEMENTS ............................................................................................ - 6 2. QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS AND NOTES ...................................................... - 7 (1) QUARTERLY CONSOLIDATED BALANCE SHEETS ....................................................................................... - 7 (2) QUARTERLY CONSOLIDATED STATEMENTS OF INCOME AND QUARTERLY CONSOLIDATED STATEMENTS OFCOMPREHENSIVE INCOME .................................................................................................................... - 9 Quarterly Consolidated Statements of Income ............................................................................................... - 9 Quarterly Consolidated Statements of Comprehensive Income ...................................................................... - 11 (3) NOTES ON QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS ......................................................... - 12 (NOTES ON THE PREMISE OF A GOING CONCERN).................................................................................. - 12 (NOTES ON A SIGNIFICANT CHANGE IN SHAREHOLDERS’ EQUITY) ........................................................ - 12 (ADOPTION OF SPECIAL ACCOUNTING METHODS FOR PREPARATION OF QUARTERLY CONSOLIDATEDFINANCIAL STATEMENTS) ................................................................................................................... - 12 (CHANGES IN ACCOUNTING POLICIES) .................................................................................................. - 12 (ADDITIONAL INFORMATION) ................................................................................................................. - 12 (SEGMENT INFORMATION) ..................................................................................................................... - 14 --1-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)

1. Qualitative Information on Consolidated Financial Results for the First Six Months of FY2022(April 1, 2022 to September 30, 2022)(1) Explanation of Operating Results
During the first six months of the fiscal year ending March 31, 2023, the Japanese economy showed agradual recovery. Looking ahead, it is expected that the recovery trend will continue, resulting from theeffects of various policies, while moving on to a new stage of coexisting with the new Coronavirus(“COVID-19”) infection. However, the downturn in overseas economies is becoming downside risks to theJapanese economy amid the tightening of monetary policy around the globe. It is also necessary to pay close
attention to price increases, restrictions on supply chain networks, and volatility in the financial and capital
markets among other factors.
Under these economic conditions, in the airline industry, flight demand continued to recover as it was thefirst summer vacation in three years that did not involve behavioral restrictions. The number of passengers on
domestic flights at Haneda Airport for the first six months of FY2022 was just over twice the number ofpassengers during the same period of last year, and was approximately 70% of the same period of FY2019,
which was before the impact of COVID-19 hit. As for international flights, as border control measures arebeing eased in Japan, the number of passengers on international flights at Haneda Airport increased by aboutfour times year-on-year. However, it remains at the level of approximately 20% of the same period of
FY2019. The Japan Airport Terminal Group (“JAT Group”) continues to take measures at various locations
within the terminal buildings to prevent the spread of COVID-19 and ensure the safety and security of airport
users and employees.
Under these circumstances, the JAT Group has put together the new Medium-Term Business Plan
(FY22-FY25) “To Be a World-Best Airport 2025 -towards becoming one of the most advanced,
human-and-eco-friendly airports by 2030-”. Setting the years of 2030 and 2025 as milestones, the plan is abackcast by 2025 that reflects our goals for 2030. 2030 is when the government targets 60 million foreign
visitors to Japan and a 46% reduction in CO2 emissions compared to 2013 and 2025 is when the number ofpassengers is expected to recover to the level of before COVID-19.
During the first six months of FY2022, in terms of facilities, in addition to carrying out renovation workin preparation for major disasters, we are taking measures to improve passenger convenience in response tochanging times including the installation of private work boxes suitable for working outside the office andexpansion of mobile battery sharing service, “ChargeSPOT”. We have also cooperated with the request from
the Ministry of Economy, Trade and Industry to save power, by turning off some of the lights and controlling
air conditioning operation in the terminal buildings in response to the tight supply and demand of electricity
during the summer season. Moreover, we are steadily pushing forward investment plans for the future, suchas selecting the contractor for the construction of connection between the satellite building on the north sideof Terminal 2 and the main terminal building.
On the sales front, we opened Seven-Eleven Haneda Airport T1 Departure Gate Store in the security area
for those who wish to buy goods just before boarding. In addition, we actively held events such as “Haneda
Airport Selection” featuring various products including those exclusive to Haneda Airport and product andtourism fairs of various regions of Japan in an effort to capture demand driven by the recovery in the numberof passengers. We added new menus to the “in-flight meals from around the world” which are popular on our
official e-commerce website “HANEDA Shopping” and we are also promoting efforts to link e-commerceand brick-and-mortar stores by launching “HANEDA PICK UP”, which allows customers to pick up items
ordered through our e-commerce website at our Haneda Airport stores. In addition to the existing duty-free
pre-order service for duty-free items that can be picked up at TIAT DUTY FREE CENTRAL, we will start a
pre-order pick-up service at the dedicated gate for business jets to provide a service that allows passengers
more time to relax at the airport.
Outside of Haneda Airport, in the sales agent business for Radi-Cool, a radiant cooling material that
contributes to CO2 emissions reduction, we have increased track records of installation mainly at otherdomestic airports, capturing the momentum towards the creation of a decarbonized society as a business
opportunity. In addition, in order to promote the use of robot technologies in guidance and cleaning
operations in anticipation of issues including future labor shortages, which is a common issue at airports
throughout Japan, we conducted demonstration experiments jointly with other domestic airports.
In July 2022, we established the structure to accelerate our sustainability initiatives by introducing the
Sustainability Committee and the Sustainability Management Office. In September, we expressed our support
to the recommendations made by the Task Force on Climate-related Financial Disclosure (TCFD). In addition,
we aim to reduce the use of resources and reduce environmental impact by changing the material of shoppingbags and charging for them at our directly operated stores at domestic flights. We are also working on crossindustry collaboration projects, as well as collaboration projects between industry and academia to foster a
corporate culture of “Think by oneself and take on challenges”. In terms of diversity and inclusion (D&I), weare accelerating the employment of people with disabilities and introducing baggage carts with artwork-2-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)

produced by people with disabilities to deepen the understanding towards D&I among passengers using
Haneda Airport. Furthermore, in order to spread the appeal of Haneda Airport to a wider audience, we arestrengthening our marketing efforts, including the introduction of Haneda Airport’s official YouTube channel,“HANEDA Airport”.
As a result of the above, with respect to the consolidated financial results for the first six months of the
fiscal year ending March 31, 2023, operating revenues was ¥43,613 million (an increase of 68.4%
year-on-year) due to the increase in operating revenues for all of the business segments compared to the same
period of the previous year in line with the steady recovery of passenger volume. As a result of the recovery inrevenue and sustained cost reduction, operating loss decreased to ¥9,273 million (compared to operating loss of¥21,825 million during the same period of the previous year), ordinary loss was ¥9,759 million (compared toordinary loss of ¥24,305 million during the same period of the previous year), and quarterly net loss attributableto owners of the parent was ¥3,341 million (compared to quarterly net loss attributable to owners of the parentof ¥14,478 million during the same period of the previous year).

(Millions of yen)

Operating Results

First Six Months of FY2021(ended September 30, 2021)

Operating revenues[Facilities Management][Merchandise Sales][Food and Beverage]
Operating income/(loss)
Ordinary income/(loss)
Quarterly net income/(loss)
attributable to owners of the parent

First Six Months of FY2022(ended September 30, 2022)

Year-on-Year(%)

25,896
18,825
5,546
1,523(21,825)(24,305)

43,61327,311
12,871
3,430(9,273)(9,759)

68.4
45.1
132.1
125.1
-

(14,478)(3,341)-

Currently, passenger volume at Haneda Airport continues to show a recovery trend. From October 2022,
nationwide travel support program started for domestic flights and border entry restrictions were significantly
eased for international flights, including the removal of the cap on number of visitors, the exemption ofshort-stay visas, and allowing entry of foreign individual tourists. It will take time for the number ofpassengers on international flights to recover to the level before COVID-19 due to the continuation of theChinese government’s zero COVID policy while Chinese tourists were the largest group of foreign visitors
before COVID-19. However, airline demand is expected to recover mainly driven by foreign visitors fromother Asian countries and Western countries.
In June 2022, Haneda Airport’s passenger terminals were awarded first place in the “Best Airports in
Asia” for the second consecutive year by SKYTRAX, and second place globally for the fourth consecutive year
in the “World’s Best Airports”, which comprehensively evaluated various aspects of international airports.
Furthermore, we were awarded first place in the “World’s Cleanest Airports” (for the seventh consecutive year),“World’s Best Domestic Airports” (for the tenth consecutive year), and “World’s Best PRM / Accessible
Facilities” (for the fourth consecutive year). In November, we were also awarded the world’s highest standard“5-star Airport” rating for the ninth consecutive year in the SKYTRAX “Global Airport Rating”.
The JAT Group will continue to apply the lessons learned from the COVID-19 pandemic to its terminal
operations, while capturing the recovering passenger demand and pave the way for renewed growth. And wewill work to enhance the value of Haneda Airport, the gateway to Japan and the greater Tokyo area, by further
improving the convenience, comfort, and functionality of the Haneda Airport Passenger Terminal as well as byensuring the safe and smooth entry, exit, and transportation of all customers.
The following is a breakdown of earnings / (loss) by segment. Note that the figures for operating revenuesof each segment include intersegment sales and the figures for operating income / (loss) are equivalent to thosefor segment income / (loss).

-3-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)

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

Operating Results

First Six Months of FY2021(ended September 30, 2021)

Facilities Management
Rent revenue
Facility user charges revenue
Other revenues
Intersegment sales and transfers
Total of Operating Revenues
Segment income/(loss)

18,825
9,099
4,265
5,460
946
19,772(13,367)

First Six Months of FY2022(ended September 30, 2022)

27,311
10,099
11,146
6,155
1,095
28,406(4,062)Year-on-Year
(%)

45.1
10.0
161.3
12.7
15.7
43.7
-

Rent revenue increased from the same period of the previous year primarily due to the decrease in rent
reductions and exemptions offered to tenants and increase in rent income on a percentage basis.
Revenue from facility user charges increased from the same period of the previous year primarily due tothe increase in the passenger service facility charge driven by the recovery in passenger volume and the revisionof charges.
Other revenues increased from the same period of the previous year primarily due to the increase in paidlounge sales and parking revenue despite the decrease in contracted construction revenue.
As a result, operating revenues from facilities management operations was ¥28,406 million (an increase of
43.7% year-on-year). Operating loss for the segment improved to ¥4,062 million (compared to operating lossof ¥13,367 million during the same period of the previous year).

[Merchandise Sales](Millions of yen)

Operating Results

First Six Months of FY2021(ended September 30, 2021)

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

First Six Months of FY2022(ended September 30, 2022)

Year-on-Year
(%)

5,546
1,827

12,871
4,036

132.1
120.8

2,145

5,624

162.2

1,573
372
5,918
(3,248)3,211
426
13,298
(664)

104.1
14.5
124.7
-

Sales at domestic terminal stores increased from the same period of the previous year because of therecovery in domestic passenger volume.
Sales at international terminal stores increased from the same period of the previous year due to theincrease in international passenger volume at Haneda Airport, Narita Airport and other airports.
Other revenues increased from the same period of the previous year because of the increase in revenue forthe wholesaling business.
As a result, operating revenues from merchandise sales operations was ¥13,298 million (an increase of
124.7% year-on-year) and operating loss for the segment was ¥664 million (compared to operating loss of¥3,248 million during the same period of the previous year).

-4-Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)[Food and Beverage](Millions of yen)

Operating Results

First Six Months of FY2021(ended September 30, 2021)

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

First Six Months of FY2022(ended September 30, 2022)

Year-on-Year
(%)

1,523

3,430

125.1

1,003

2,449

144.0

343
176
344
1,868
(1,735)

766
213
432
3,863
(818)

123.4
21.1
25.4
106.7
-

Sales from food and beverage operations increased from the same period of the previous year primarily
due to the recovery in domestic passenger volume.
Sales from in-flight meals increased from the same period of the previous year primarily due to theincrease in passenger volume of the foreign carriers at Narita Airport.
As a result, operating revenues from food and beverage operations was ¥3,863 million (an increase of
106.7% year-on-year) and operating loss for the segment was ¥818 million (compared to operating loss of¥1,735 million during the same period of the previous year).

-5-Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)(2) Explanation of Financial Position[Assets]
Current assets increased by ¥100 million from the previous fiscal year end to ¥113,969 million primarily
due to the increase in accounts receivable related to passenger service facility charge among other items driven
by the recovery in passenger volume. Fixed assets decreased by ¥13,597 million from the previous fiscal year
end to ¥336,412 million primarily due to depreciation. As a result, total assets decreased by ¥13,497 million
from the previous fiscal year end to ¥450,381 million.
[Liabilities]
Total liabilities decreased by ¥2,787 million from the previous fiscal year end to ¥305,081 million
primarily due to the scheduled payment of long-term loans payable despite the increase in accrued expenses
due to the recording of government-owned property user charges.
[Net Assets]
Total net assets decreased by ¥10,709 million from the previous fiscal year end to ¥145,300 million
primarily due to the decrease in retained earnings and non-controlling interests by quarterly net loss.
As a result, the equity ratio was 33.4% (compared to 33.2% at the previous fiscal year end).
(3) Explanation of Consolidated Financial Forecasts and Other Forward-looking Statements
During the first six months of the fiscal year ending March 31, 2023, the number of passengers at Haneda
Airport fell below the original forecast by approximately 10% for domestic flights due to the impact of theseventh wave of COVID-19 infections since the summer. The number of passengers for international flights
was in line with the original forecast due to the gradual easing of border control measures. As for the
consolidated financial results, although operating revenues fell below the forecast due to the sluggish growthin passenger volume at domestic flights, operating income / (loss) was above the forecast due to sustained cost
reduction.
With respect to the full-year forecast, we expect the number of passengers to fall below the original
forecast by approximately 10% for domestic flights due to the slow pace of recovery during the first half of theyear. However, we expect the number of passengers to exceed the original forecast by approximately 20% forinternational flights for the full year due to the significant easing of border control measures. With respect toconsolidated financial forecasts for the full year, we expect operating revenues to be generally in line with our
original forecast as a result of slow recovery in domestic flights being offset by international flights, andoperating income to exceed our original forecast as a result of sustained cost reduction.
Taking these factors into account, we decided to revise the consolidated financial forecasts for full year of
the fiscal year ending March 31, 2023, which we announced on May 12, 2022, as below.
(Millions of yen)
Operatingrevenues

Operatingincome /(loss)

Ordinary
income /(loss)Net income /(loss)
attributable toowners of theparent

Net income /(loss) per
share (Yen)Previous Forecasts (A)105,600(16,600)(18,100)(5,700)(61.20)

Forecasts on Nov. 9th (B)105,900(14,300)(15,600)(4,600)(49.39)Change (B-A)
Change (%)
Reference: FY 2021 results

300
0.3
57,0572,300(41,255)

2,500(43,861)

1,100(25,217)(270.75)-6-Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)

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

ASSETS
Current assets
Cash and deposits
Accounts receivable
Securities
Merchandise and finished products
Raw materials and stored goods
Other current assets
Allowance for doubtful accounts
Total current assets
Fixed assets
Tangible fixed assets
Buildings and structures
Accumulated depreciation and impairment loss
Buildings and structures (net)
Machinery, equipment and vehicles
Accumulated depreciation and impairment loss
Machinery, equipment and vehicles (net)Land
Lease assets
Accumulated depreciation and impairment loss
Lease assets (net)
Construction in progress
Other tangible fixed assets
Accumulated depreciation and impairment loss
Other tangible fixed assets (net)Total tangible fixed assets
Intangible fixed assets
Leasehold right
Other intangible fixed assets
Total intangible fixed assets
Investments and other assets
Investment securities
Deferred tax assets
Net defined benefit assets
Other investments
Total investments and other assets
Total fixed assets
TOTAL ASSETS-7-

FY2021(As of March 31, 2022)

First Six Months of
FY2022(As of September 30,
2022)

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

55,652
8,907
39,500
4,121
294
5,539
(45)
113,969

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

561,562(333,490)
228,071
36,026(21,430)
14,596
12,874
3,549(1,825)
1,724
1,711
68,089(59,020)
9,069
268,048

31,516
2,872
34,38830,593
2,422
33,016

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

17,576
13,2981,045
3,426
35,347
336,412450,381

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)(Millions of yen)

LIABILITIESCurrent liabilities
Accounts payable
Short-term loans payable
Accrued expenses
Income taxes payable
Allowance for employees’ bonuses
Other current liabilities
Total current liabilities
Fixed liabilities
Bonds
Long-term loans payable
Lease obligations
Deferred tax liabilities
Allowance for directors’ retirement benefits
Net defined benefit liabilities
Asset retirement obligations
Other fixed liabilities
Total fixed liabilities
TOTAL LIABILITIESNET ASSETS
Shareholders’ equity
Common stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
TOTAL NET ASSETSTOTAL LIABILITIES AND NET ASSETS-8-

FY2021(As of March 31, 2022)

First Six Months of
FY2022(As of September 30,
2022)

1,956
15,626
8,782
483
1,073
8,925
36,847

3,264
15,77812,679
1,873
1,042
7,598
42,23555,287
184,153
1,596
15,660
68
4,761
620
8,873
271,021
307,869

55,213
177,610
1,376
15,119
49
4,904
624
7,945
262,845
305,081

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

38,12654,16057,501(9)
149,778

2,526(1,115)
66
(426)
1,050
1,838
156,009463,878

1,714
(877)
141
(416)
561
(5,040)145,300
450,381

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)(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
Sale of merchandise
Sale of food and beverage
Total operating revenues
Cost of sales
Cost of sales of merchandise
Cost of sales of food and beverage
Total cost of sales
Gross profit
Selling, general and administrative expenses
Salaries and wages
Provision for employees’ bonuses
Expenses for retirement benefits
Rent expenses
Outsourcing and commission
Depreciation expenses
Other costs and expenses
Total selling, general and administrative expenses
Operating income / (loss)
Non-operating income
Interest income
Dividends income
Subsidy income
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Loss on retirement of fixed assets
Equity in losses of affiliates
Commission fee
Miscellaneous expenses
Total non-operating expenses
Ordinary income / (loss)-9-First Six Months of
FY2021(from April 1, 2021
to September 30, 2021)

First Six Months of
FY2022(from April 1, 2022
to September 30, 2022)

9,099
4,266
5,483
5,533
1,513
25,896

9,998
11,147
6,275
12,783
3,408
43,613

2,926
1,295
4,221
21,674

6,881
2,146
9,028
34,584

4,928
144
465
4,530
5,896
15,872
11,66243,499(21,825)

4,682
988
409
4,039
5,985
14,442
13,30943,858(9,273)

8
40
1,369
552
1,970

11
41
588
554
1,196

1,284
91
1,596
1,450
28
4,450
(24,305)

1,532
70
10
48
20
1,682
(9,759)Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)(Millions of yen)

Extraordinary gains
Gains on sale of investment securities
Government subsidies
Total extraordinary gains
Extraordinary loss
Loss on valuation of investment securities
Loss on reduction entry of fixed assets
Total extraordinary loss
Quarterly income / (loss) before income taxes andnon-controlling interests
Income taxes – current
Quarterly income / (loss)
Quarterly net income / (loss) attributable to non-controllinginterests
Quarterly net income / (loss) attributable to owners of theparent- 10 -First Six Months of
FY2021(from April 1, 2021
to September 30, 2021)

First Six Months of
FY2022(from April 1, 2022
to September 30, 2022)

1,422
1,422

6
58
64

54
1,388
1,443

36
36

(24,326)(9,731)(1,328)(22,998)842(10,574)(8,519)(7,232)(14,478)(3,341)

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)

Quarterly Consolidated Statements of Comprehensive Income(Millions of yen)

Quarterly income / (loss)
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- 11 -First Six Months of
FY2021(from April 1, 2021
to September 30, 2021)(22,998)

First Six Months of
FY2022(from April 1, 2022
to September 30, 2022)(10,574)

812
564
28
(18)

(806)
581
75
17

(0)

(0)

1,386
(21,611)(133)(10,708)(13,375)(3,830)(8,236)(6,878)

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)(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(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 toquarterly income before taxes to calculate estimated tax expenses. However, in cases where the use of such an
estimated effective tax rate would result in a significant lack of rationality, the statutory effective tax rate isapplied.
(Changes in Accounting Policies)
Adoption of Accounting Standard for Fair Value Measurement
The Company has adopted the “Implementation Guidance on Accounting Standard for Fair Value
Measurement” (ASBJ Guidance No. 31, June 17, 2021, hereinafter referred to as the “Implementation Guidanceon Accounting Standard for Fair Value Measurement”) from the beginning of the first quarter of the fiscal year
ending March 31, 2023. The Company has also decided to adopt the new accounting policy stipulated in the
Implementation Guidance on Accounting Standard for Fair Value Measurement in accordance with thetransitional treatment described in Paragraph 27-2 of the Implementation Guidance on Accounting Standard for
Fair Value Measurement. There is no impact of this change on the consolidated financial statements for the firstsix months of the fiscal year ending March 31, 2023.
(Additional Information)
Accounting estimates with respect to the impact of the spread of COVID-19
There have been no material changes made to the assumptions, including the timing when the spread of
COVID-19 will be contained, described in the “Significant Accounting Estimates” section of the Securities
Report for the fiscal year ended March 31, 2022.
Financial covenants
For part of the long-term loans payable with financial covenants, despite being in breach of thesecovenants at the end of the second quarter of the fiscal year ending March 31, 2023, financial institutions have
granted a consent not to exercise the right to accelerate repayment. The balance amount of the borrowings underthese agreements and relevant covenants are outlined below.

Short-term loans payable
Long-term loans payable
Total

FY2021(As of March 31, 2022)
750
5,250
6,000

(Millions of yen)First Six Months of FY2022(As of September 30, 2022)
750
4,875
5,625

(¥750 million of short-term loans payable and ¥4,875 million of long-term loans payable)(1) On and after the corresponding agreement is entered into, the total net assets on the consolidated balance sheeton the last day of each fiscal year and each second quarter shall not be less than 75% of the total net assets on
the consolidated balance sheet on the last day of the fiscal year and second quarter immediately preceding (sixmonths prior to) the fiscal year and second quarter in question or the last day of the fiscal year ended March
2019, whichever is larger.
(2) On and after the corresponding agreement is entered into, the total net assets on the non-consolidated balance
sheet on the last day of each fiscal year and each second quarter shall not be less than 75% of the total net
assets on the non-consolidated balance sheet on the last day of the fiscal year and second quarter immediately
preceding (six months prior to) the fiscal year and second quarter in question or the last day of the fiscal year
ended March 2019, whichever is larger.
- 12 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)(3) On and after the corresponding agreement is entered into, ordinary profit during each fiscal year shall not be
negative on a consolidated basis for two consecutive fiscal years.
(4) On and after the corresponding agreement is entered into, ordinary profit during each fiscal year shall not be
negative on a non-consolidated basis for two consecutive fiscal years.

- 13 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the Second Quarter of the Fiscal Year Ending March 31, 2023 (FY2022)(Segment Information)
Segment Information
I.

First six months of FY2021 (from April 1, 2021 to September 30, 2021)
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/(loss)(Notes)Adjustments

Food andBeverage

Quarterly
consolidated
financialstatements Note 2

Facilities
Management

Merchandise
Sales

18,825

5,546

1,523

25,896-25,896

946

372

344

1,664

(1,664)-

19,772(13,367)

5,918(3,248)

1,868(1,735)27,560(18,351)(1,664)(3,473)25,896(21,825)

Total

Note 1

1. Adjustments to the segment income include ¥3,475 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.

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

II. First six months of FY2022 (from April 1, 2022 to September 30, 2022)
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/(loss)(Notes)Adjustments

Food andBeverage

Quarterly
consolidated
financialstatements Note 2

Facilities
Management

MerchandiseSales

27,311

12,871

3,430

43,613-

43,613

1,095

426

432

1,954

(1,954)-28,406(4,062)

13,298
(664)

3,863
(818)

45,568(5,545)(1,954)(3,727)43,613(9,273)

Total

Note 1

1. Adjustments to the segment income include ¥3,734 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.

2. Information on impairment loss on fixed assets and goodwill, etc., by reportable segment
Not applicable- 14 -