Balance Sheet(As of March 31, 2019)(M illions of yen)

Assets
Account title
Current assets

Liabilities
AmountAccount title
65,626

AmountCurrent liabilities

19,039Cash and deposits

54,705

Accounts payable-trade

3,532

Accounts receivable - trade

5,875

Current portion of long-term loans payable

6,184

Merchandise

3,443

Accounts receivable - other

1,410

Accounts payable - other

3,265

Prepaid expenses

191

Accrued expenses

3,081

Other current assets

0

Income taxes payable

2,140(Senior loan)( 6,184)

Accrued interest expenses

25Other current liabilities

809

Noncurrent assets

120,973

Tangible assets

117,004

Shareholder subordinated bonds

14,580

Buildings

89,328Long-term loans payable

108,893

Structures

1,054(Preferred loan)( 90,893)

Machinery and equipment

5,648(Shareholder subordinated loans)( 18,000)

2

Long-term lease deposit received

484

Tools, furniture and fixtures

5,411

P rovision for directors' retirement benefits

57

Construction in progress

15,560

VehiclesNoncurrent liabilities

129,545

Interest rate swap liabilities

Total liabilities
Intangible assets

797

Software

797

5,529
148,584

Net assets
Shareholders' equity

41,852

Capital stock

13,265

Capital surplus

13,265

3,171

Capital reserve

13,265

Deferred tax assets

2,171

Retained earnings

15,322

Separately managed penalty in trust

1,000

Investments and other assets

Total assets

Other retained earnings

15,322Retained earnings brought forward

15,322

Valuation and translation adjustments△ 3,836

Deferred gains or losses on hedges△ 3,836

186,600- 1 -Total net assets

38,015

Total liabilities and net assets

186,600

Income Statement
From April 1, 2018
To March 31, 2019
(M illions of yen)Account title

AmountOpe rating re ve nue
Rents

4,821

Facility rental income

24,668

Sales of goods

59,368

Restaurant sales

2,978

Other revenue

4,849

96,685

Cost of sales
Cost of goods sold41,210Operating gross profit

55,47541,930

Selling, general and administrative expenses

Operating income

13,545Non-operating income
Interest income0

Miscellaneous income

341

341

Non-operating expenses
Interest expenses

3,577

Stock issuance expenses

30

Miscellaneous loss

16

3,624

Ordinary income

10,262Extraordinary income
Government subsidy207207285

285

Extraordinary loss
Loss on retirement of noncurrent assets

Income before income taxes

10,183

Income taxes-current

3,210
△

Income taxes-deferred
Net income

103
7,077

- 2 -Notes to Non-Consolidated Financial Statements

I. Notes on Matters Related to Important Accounting Policies
1. Criteria and methods for evaluating assets(1) Derivatives: Market value method(2) Inventory assets: Based on cost method using retail method (balance sheet values are calculated using
method of reducing book value when the contribution of inventories to profitability declines)
2. Method of depreciation of noncurrent assets(1) Property, plant and equipment: Straight line method(2) Intangible assets: Straight line method
As for the software used in-house, the Company adopts the straight-line method based on an expectedusage period of five years for internal use.
3. Criteria for recording reserves
Provision for directors' retirement benefits: The Company records the required allowance
as of the end of the term in accordance with internal rules on payment of directors'
retirement benefits to prepare for the payment of retirement benefits to directors.
4. Treatment of consumption tax, etc.
The accounting treatment of consumption tax and local consumption tax is based on the tax exclusion
method.
5. Inclusion of interest payable, etc. in noncurrent assets acquisition cost
The interest payable and loan-related ancillary cost incurred during the construction of the passenger
terminal building have been added to the acquisition cost (for the fiscal year under review -- 174 million
yen; cumulative at the end of the fiscal year under review -- 4,300 million yen) and recorded as part ofnoncurrent assets.
6. Hedge accounting method(1) Hedge accounting method: Deferred hedge treatment(2) Hedge procedure and hedge target
Hedge procedure: Derivative trading (interest swap trading)Items hedged: Borrowings based on variable interest rate(3) Hedge policy: It is carried out with the aim of avoiding risks rising from future fluctuation of the interest
rate and the Company's policy not to carry out any speculative transactions.
(4) Method to evaluate the hedge effectivenessThe assessment on the effectiveness is omitted, as the important conditions for hedge procedures andhedge target are the same and it is assumed in advance to fully offset the risk of interest rate fluctuations
from the start of the hedge and continuously thereafter.
II. Notes on Changes in Presentation Methods
Application of Partial Amendments to Accounting Standard for Tax Effect Accounting, etc.
Partial Amendments to Accounting Standard for Tax Effect Accounting (ASBJ Statement No. 28, February 16,2018) etc. are applied from the beginning of the fiscal year under review, and deferred tax assets are indicated- 3 -in the category of investments and other assets.

III. Notes on Balance Sheet(Millions of yen)

1. The amounts are rounded down to the nearest million.
2. Pledged assets
Assets pledged as collateral

Ordinary deposits
Accounts receivable - trade

Liabilities corresponding to the above

54,37996

Buildings

89,328Structures

1,054

Machinery and equipment

1,576

Separately managed penalty in trust

1,000

Current portion of long-term loans payable

6,184

Long-term loans payable

90,893

3. Total depreciation of property, plant and equipment

70,284

4. Monetary claims and obligations to subsidiaries and affiliates
Monetary claims
Monetary obligations

Accounts receivable - trade4,132

Accounts receivable - other6

Accounts payable - trade

3,532

Accounts payable - other

1,545

Accrued expenses

2,273

Accrued interest expenses

3

Shareholder subordinated bonds

13,320Long-term loans payable

13,320Long-term lease deposit received

IV. Notes on Income Statement272(Millions of yen)

1. Reported amounts are rounded down to the nearest million yen.
2. Transactions with subsidiaries and affiliates

Operating transactions
Non-operating transactions- 4 -61,467599

V. Notes on Tax Effect Accounting
Breakdown of main causes for deferred tax assets(Deferred tax assets)(Millions of yen)Accrued enterprise tax, etc.

224

Provision for directors' retirement benefits

17

Deferred losses on hedges

1,693

Other276

Deferred tax assets subtotal

2,211

Valuation reserve△ 40

Deferred tax assets total

2,171

VI. Notes on Related Party Transaction
1. Main corporate shareholders etc.
(Millions of yen)Type

Name of thecompany etc.

Ratio ofvoting rights
and otherownership

RelationshipTransactions

with the party

Financing(Note 1)

Transaction
valueAccount title

6,550

Shareholder
subordinated
bonds

6,660

Long-termloans payable

6,660

Accruedexpenses

2,273

Accounts
payable – trade

3,532(Note 2)
Borrowing offunds (Note 3)

Parentcompany

Japan Airport
Terminal Co.,Ltd.

51.00%
directly held

Procurementof goods andconsignmentof operationof stores etc.

Businessconsignment

20,13541,331(Note 5)
Payment ofinterest

theterm-end-(Note 4)
Procurement ofgoods

599
Accruedinterest
expensesFinancing(Note 1)
(Note 2)Mainshareholder

Japan Airlines
Co., Ltd.

16.87%
directly held

Borrowing offunds-990

Shareholder
subordinated
bonds

3,330

Long-termloans payable

3,330

299

Accruedinterest
expenses- 5 -1-(Note 3)
Payment ofinterest

Balance at0Financing(Note 1)
(Note 2)Mainshareholder

ANA HoldingsInc.

16.87%
directly held

Borrowing offunds
-

990

3,330

Long-termloans payable

3,330-(Note 3)
Payment ofinterest

Shareholder
subordinated
bonds

299

Accruedinterest
expenses0

Toshihiro
KawasakiDirector

Director

Representative
Director andPresident,

Borrowing offunds-

Borrowing offunds-(Note 6)
Payment ofinterest56Representative
Director andSenior
Executive
President,
NaritaInternational
AirportCorporation

Borrowing offunds-

Borrowing offunds

1,260(Note 3)

TEPCO
EnergyPartner,
Incorporated
Futoshi Osada-Long-termloans payable
Accruedinterest
expensesLong-termloans payable

0

1,620

(Note 3)(Note 7)
Payment ofinterest

72

Accruedinterest
expenses

Terms and conditions of transactions and policy on determining them
Note 1: Financing terms and conditions are 5 million yen per share, and the Company issues 1,706 shares ofcommon stock. The terms and conditions were approved in an extraordinary general meeting ofshareholders held on October 26, 2017, and the payment was completed on April 27, 2018.
Note 2: Financing terms and conditions are in accordance with the Shareholder Subordinated Bond Agreement
signed between the Company and its six shareholders including the above three companies on March30, 2012, following the approval by the Board of Directors Meeting on February 23, 2012 (preparedbased on the loan terms of the Shareholders Agreement agreed among the shareholders as of theestablishment of the Company). As for the repayment of the principal, it has been agreed that theorder of the settlement of claims is after that of repayment of preferred loans from the loan
syndication based on the Limited Loan Contract Alteration Contract signed with the loan syndication.
Note 3: Loan terms and conditions are in accordance with the Shareholder Subordinated Loan Agreement
signed between the Company and its nine shareholders including the above three companies on March
27, 2008 following the approval by the Board of Directors Meeting on March 18, 2008 (preparedbased on the loan terms of the Shareholders Agreement agreed among the shareholders as of theestablishment of the Company). As for the repayment of the principal, it has been agreed that the orderof the settlement of claims is after that of repayment of preferred loans from the loan syndication
based on the Limited Loan Contract Alteration Contract signed with the loan syndication.
Note 4: Prices, other terms and conditions for the business consignment are determined after consultations
between both companies while taking into consideration details of business with a reference to generalterms and conditions, etc.
Note 5: The prices, terms and conditions for procurement of goods are determined after negotiations with a- 6 -0

reference to market prices.
Note 6: This transaction was conducted for a third party by Toshihiro Kawasaki, a director at our company, inthe capacity of a representative of TEPCO Energy Partner, Incorporated.
Note 7: This transaction was conducted for a third party by Futoshi Osada, a director at our company, in thecapacity of a representative of Narita International Airport Corporation.
Note 8: Among the amounts indicated in the table above, transaction amounts do not include consumption tax.
Note 9: The ratios of voting rights and other ownership are rounded down to the nearest two decimal places.

VII. Notes on data per share
1. Net asset per share: 7,134,186.23 yen
2. Current net profit per share: 1,383,905.29 yen
VIII. Matters concerning important subsequent events
There are no applicable matters.

- 7 -