Second Quarter of FY17

Earnings Presentation Material(November 20, 2017)* 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 FY17 (FY17 2Q)
Earnings Presentation Material
1．FY17 2Q Consolidated Summary（１）Business Environment

P ２（２）Consolidated Financial ResultsP３（１）Business EnvironmentP４（２）Consolidated Financial Forecast for FY17P５（３）Forecast of Operating Revenues by Segment

P６

３．Third-party Allocation of Sharesby Tokyo International Air Terminal Corp. to Increase Capital

P ７

2．Consolidated Financial Forecast for FY17

４．Progress under the Medium-Term Business Plan
（１）Progress of Business StrategiesP（２）Expand Business Domains that Leverage Strengths and Diversify Earnings

P ９（３）Pursue ‘Vision’ for Haneda Airport

P１０（４）Redevelop Earnings Base and Establish Competitive Position

P１１

５．Safety Management Initiatives at Haneda Airport

P１２

８

Contents
Reference Material

Supplementary Material
1. Details of Consolidated Financial Results for FY17 2Q(1) Changes in Passenger Volume(Haneda, Narita and Kansai)

P １４(2) Consolidated Financial Results for FY17 2Q

P １５(3) Financial Results by Segment(i) Facilities management

P １６(ii) Merchandise sales

P １７(iii) Food and beverage

P １８(4) Breakdown of Selling, General and
Administrative Expenses

P １９(5) Changes in Non-Operating Income/Expenses
and Extraordinary Income/Loss

P ２０(6) Consolidated Balance Sheets

P ２１(7) Consolidated Statements of Cash FlowsP ２２(8) Capital Expenditure and Depreciation Expenses[Reference] Purchasing Trends of Non-Japanese
Passengers by Nationality

1. Outline of the Company(1) Business Details

P ３４(2) Basic Philosophy and Management Policy

P ３５(3) Company History

P ３６(4) Group Companies

P ３７(5) Revenue Composition/Composition by Segment

P ３８(6) Revenue Composition/Details by Segment

P ３９(7) Revenue Composition by Region and Segment

P ４０(8) Changes in Capital Investment

P ４１

2. Summary of Tokyo International Airport (Haneda)(1) Location Map

P ４２

P ２３

(2) Changes in Passenger Volume on Domestic andInternational Flights

P ４３

P ２４

(3) Comparison of Passenger Volume

P ４４(4) Domestic Destinations and Flights

P ４５(5) International Destinations and Flights

P ４６(6) Summary of Tokyo International Air
Terminal Corporation

P ４７

2. Details of Consolidated Financial Forecast for FY17(1) Consolidated Financial Forecast for FY17P ２６(2) Financial Forecast by Segment(i) Facilities management

P ２７(ii) Merchandise sales

P ２８(iii) Food and beverage

P ２９

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

P ３０(2) Changes in Operating Revenues/Ordinary
Income/Cash FlowsP ３１

Earnings Presentation Material Second Quarter of
FY17 (FY17 2Q)
1. FY17 2Q Consolidated Summary

2. Consolidated Financial Forecast for FY17
3. Third-party Allocation of Shares by Tokyo International Air
Terminal Corp. to Increase Capital
4. Progress under the Medium-Term Business Plan
(1) Progress of Business Strategies(2) Expand Business Domains that Leverage Strengths andDiversify Earnings(3) Pursue ‘Vision’ for Haneda Airport(4) Redevelop Earnings Base and Establish Competitive Position
5. Safety Management Initiatives at Haneda Airport

1. FY17 2Q Consolidated Summary

JAPAN AIRPORTTERMINAL(1) Business Environment
Continued Increase in Visitors to Japan and Dramatic Growth in Travel Consumption
For Haneda International Flights, Continued Growth Trend in Airline Passengers Atop More U.S.
Flights and Other Factors


Business
Environment

Number of
Passengers(YoY comparison)Continued increase in passenger numbers, reflecting recovery from last year’s Kumamoto Earthquake and increase in visitors to Japan
Travel consumption by non-Japanese passengers up 19.9% year on year, with cumulative results for first half of FY17 surpassing ¥2
trillion for the first time
By category, spending on shopping rose 20.0%. Similarly, per person shopping spending for Chinese passengers increased 4.7%
For Haneda international flights, along with increases in U.S. flights from the second half of the previous year, there was also an
increase in late-night flights
In the exchange rate market, continuation of a weaker yen from the second half of the previous year

Haneda domestic flights up 5.0% year on year, reflecting recovery from last year’s Kumamoto Earthquake and ongoing growth indomestic and international connecting passengers
Haneda international flights up 11.6% year on year, lifted by dramatic growth in U.S. and Southeast Asia passengers due to increased
flights
Narita flights up 2.0% year on year, the result of growth in Korean passenger volume due mainly to new routes and increased flights

First-half passenger volumes (YoY comparison)First-half passenger volume
AirportInitial forecasts

FY17

FY16

Rate of change

Rate of change

Difference(ten thousands)(ten thousands)

(%)

(%)

(P)

3,427

3,263

5.0

1.0

4.0

844

756

11.6

6.9

4.7

Total Haneda

4,272

4,019

6.3

2.1

4.2

Narita

1,669

1,636

2.0

2.7

-0.7

Kansai

1,059

949

11.5

4.5

7.0

Haneda – Domestic
Haneda – International

Japan Airport Terminal Co., Ltd.

02

1. FY17 2Q Consolidated Summary

JAPAN AIRPORTTERMINAL(2) Consolidated Financial Results
Sales Growth in All Segments and Record Profits Atop Increases in Domestic andInternational Passenger Volume and Further Expansion in Inbound Demand

Main Factors
BehindChanges○ Differences from previous fiscal year results Increased revenues from facility management operations, mainly atop growth in facility usage fees
 Growth in merchandise sales, food and beverage sales, and wholesale of duty-free goods from growth in Haneda
domestic and international flight passengers
 Sales from urban duty-free stores rose dramatically, reflecting measures to adopt consumption tax-exempt sales
spaces, among other efforts○ Differences from initial forecasts
 Sales increased, supported mainly by product sales at airport and urban duty-free stores Profits also increased from shifting occurrence of some expenses, notably commissioned management fees and repair
expenses, to the second half of the year, coupled with effects of return on investment by the equity method

Consolidated financial results for FY17 1H

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

Rate ofchange(%)

Initialforecasts Difference
*1

1H

LY

ChangeResults

Results

amount

108.0

99.8

8.2

8.2

103.4

4.6

(Facilities management)( 28.3 )( 26.6 )1.6

6.0( 27.6 )0.7(Merchandise sales)( 69.8 )( 63.7 )6.1

9.7( 66.5 )3.3(Food and beverage)( 9.8 )

( 9.4 )

0.4

4.7

( 9.3 )

0.5

Operating income

6.7

4.4

2.2

51.2

5.2

1.5

Ordinary income

8.7

6.2

2.5

40.3

6.6

2.1

Net income

6.1

4.2

1.8

44.2

4.7

1.4

Items
Operating revenues*1 Financial forecast announced in May 2017.
Japan Airport Terminal Co., Ltd.

03

2. Consolidated Financial Forecast for FY17(1) Business Environment
While Chinese Passenger Trends Require Close Monitoring, Continued Growth in Visitors to Japan Expected
Continued Recovery Trend in Per-unit Purchasing among Tax-exempt Sales

Accompanying growth in visitors to Japan, continued increase in passenger volume itself expected
While no impact noted in the first half, we will continue working to gather information regarding
travel restrictions enacted by Chinese authorities
 Recovery trend in per-unit purchasing at duty-free stores at Haneda Airport and Narita Airport fromfirst half of FY16 to continue
 Continuation of a weaker yen in the exchange rate market expectedBusiness
EnvironmentNumber of
Passengers(YoY comparison)

Projected growth of 3.5% for Haneda domestic flights, with increases in domestic and international connecting
passengers, business trips and individual travel anticipated
Projected growth of 10.0% for Haneda international flights atop anticipated increases in late-night flights andfurther embarkation rate growth
Projected growth at Narita Airport and Kansai Airport of 3.9% and 10.8%, respectively, from anticipatedcontinuation of passenger growth in Asia from more LCC flights and other factors

The number of passengers forecast for FY17 (YoY comparison)

Airport

FY17 1H

FY17 2H

FY17

(%)

(%)

(%)

Full-year
forecasts(%)

Difference(P)

Revisedforecast(10,000
people)Haneda – Domestic

5.0

2.0

( 1.0 )

3.5

1.0

2.5

6,841

Haneda – International

11.6

8.5

( 5.2 )

10.0

6.0

4.0

1,720

Total Haneda

6.3

3.3

( 1.8 )

4.8

2.0

2.8

8,562

Narita2.0

5.8( 5.3 )

3.9

4.0

-0.1

3,366

Kansai11.5

10.0( 4.5 )

10.8

4.5

6.3

2,121

* Figures in ( ) are initial forecasts

Japan Airport Terminal Co., Ltd.

04

JAPAN AIR TERMINAL

2. Consolidated Financial Forecast for FY17(2) Consolidated Financial Forecast for FY17As Previously, We Will to Continue to Grow Sales of Goods, Food and Beverages, Centered on
Tax-exempt Sales, While Strengthening Upfront Investment, Including Safety Measures, in
Haneda Airport Facility Upgrade and Expansion
Main Factors
BehindChangesIn facility management operations, increases in office space rentals, international flight terminal maintenance and upkeep
operations, parking revenues
Increase in expenses for internationalization construction of domestic flight terminal 2 and upfront investment in safetymeasures
Shift of some commissioned management fees and repair expenses expected in the first half to the second half of the year
For urban duty-free, upward revision of full-year sales targets and early realization of profitability on an individual store basis
In merchandise sales, meet purchasing demand centered on airport and urban duty-free stores and take steps for further
sales growth

Financial forecast for FY17

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

FY17 1H

Items

Operating revenues

Operating income(Operating income ratio)

Ordinary income

Net income

Results
108.0(*1) ( 99.8)

6.7( 4.4)
6.2%
8.7( 6.2)
6.1( 4.2)

Initialforecasts

FY17 2H
Change

103.4

4.6

5.2

1.5

5.0%

1.2P

6.6

2.1

4.7

1.4

RevisedInitialforecasts forecasts
110.9( 105.1)
4.9( 5.0)
4.5%
5.8( 6.6)
4.1( 2.5)

FY17
RevisedChangeforecasts
(*2)

105.2

5.7

5.3

-0.3

5.0%

-0.5P

6.2

-0.3

4.2

-0.0

219.0
( 204.9)
11.7( 9.4)
5.3%
14.6( 12.8)10.3( 6.8)

Initialforecasts

Previous
fiscal year

Changeresults(FY16)

208.6

10.4

204.9

14.0

10.5

1.2

9.4

2.2

5.0%

0.3P

4.6%

0.7P

12.8

1.8

12.8

1.7

8.9

1.4

6.8

3.4

*1 Figures in ( ) are results for the previous fiscal year

Annual dividend

¥20.0

¥18.0

Payout ratio

26.2%

31.1%

*2 Revised financial forecast announced in November 2017

Japan Airport Terminal Co., Ltd.

¥20.0

¥18.0

¥40.0

¥36.0

¥33.0

31.5%

32.9%

38.9%

Capital expenditures

29.2

32.4

Depreciation expenses

10.7

10.7

EBITDA

22.4

21.2

05

Change2. Consolidated Financial Forecast for FY17(3) Forecast of Operating Revenues by Segment
Note: Figures shown are rounded down to the nearest 100 million yen. (Billions of yen)

FY17

Items

Revisedforecasts

Initialforecasts

ChangeRate of change Revised forecasts *1
composition ratio(%)(%)

Previous
fiscal year
results(FY16)

ChangeRate ofchange(%)

Previous fiscal
year results *1
composition
ratio (%)

57.6

55.8

1.8

3.2

26.3

54.9

2.6

4.8

26.8

Rent revenue

13.3

13.2

0.1

0.8

( 23.1 )

13.0

0.2

1.7

( 23.8 )Facility user charges revenue

18.7

18.3

0.4

2.2

( 32.5 )

18.1

0.5

2.8

( 33.1 )Other revenues *2

25.6

24.3

1.3

5.3

( 44.4 )

23.7

1.8

8.0

( 43.1 )Merchandise sales

141.8

134.1

7.7

5.7

64.7

131.0

10.7

8.2

64.0

35.0

34.3

0.7

2.0

( 24.7 )

33.8

1.1

3.5

( 25.8 )

33.2

32.2

1.0

3.1

( 23.4 )

32.9

0.2

0.6

( 25.2 )

73.6

67.6

6.0

8.9

( 51.9 )

64.2

9.3

14.5

( 49.0 )Food and beverage

19.6

18.7

0.9

4.8

8.9

18.8

0.7

3.8

9.2

Sales from restaurants

9.8

9.5

0.3

3.2

( 50.0 )

9.6

0.1

1.5

( 51.2 )Sales from in-flight meals

6.5

6.4

0.1

1.6

( 33.2 )

6.4

0.0

1.5

( 33.9 )Other sales *2

3.3

2.8

0.5

17.9

( 16.8 )

2.8

0.4

17.2

( 14.9 )Facilities management

Sales at domestic terminal
storesSales at internationalterminal stores
Other sales *2*1 Figures in ( ) denote composition percentage for each segment*2 Main item for “Other Revenues”/“Other Sales” in each segment• Facilities management: Income from contract work to manage facility maintenance, income from hotel business, income from advertising and lounges, income fromparking lots, etc.
• Merchandise sales: Income from wholesaling (other duty-free stores), etc.
• Food and beverage: Income from contract work to run TIAT restaurants, income from catering airline lounges, etc.

Japan Airport Terminal Co., Ltd.

06

3. Third-party Allocation of Shares by Tokyo International Air Terminal Corp.
to Increase Capital(1) Background•

Proper information provision has taken place via Japan’s Ministry of Land, Infrastructure,
Transport and Tourism, including through explanatory meetings to gain the understanding ofas many residents as possible, regarding efforts to strengthen the functionality of airports(e.g., increase international departures and arrivals) in the Tokyo metropolitan area.

•

Given these conditions, TIAT (Tokyo International Air Terminal Corp.) has developed plans to
expand and upgrade its terminal buildings to cope with projected growth in international flightpassengers, and will procure a portion of required capital through the issue of new shares.

•

To fulfill its duty as TIAT’s representative company, Japan Airport Terminal Co., Ltd. will
acquire additional shares to cooperate more fully in efforts to definitively further andimplement this project.

•

Once payment procedures are complete, Japan Airport Terminal Co., Ltd.’s shareholding willbe 51%, switching TIAT from an equity-method affiliate to a consolidated subsidiary.

(2) Anticipated Outcomes•

No. 1 Passenger Terminal: Information booth
concerning measures to increase international
departures and arrivals located on the third floor
north terrace

Through partnership with TIAT, take full advantage of Haneda Airport’s greatest feature—functionality as a hub for domestic and international flights—and pursue measures to further
enhance user convenience.

Domestic Passenger Terminal 2(T2)

Domestic Passenger Terminal 1(T1)

International Passenger Terminal(T3)

Japan Airport Terminal Co., Ltd.

07

4. Progress under the Medium-Term Business Plan
(1) Progress of Business Strategies“Create business and earnings opportunities in pursuit of our‘Vision’ for Haneda Airport and redevelop earnings base bystaking out a competitive position”“To be a World Best Airport 2020”Three Core Strategies
Expand Business Domains that
Leverage Strengths andDiversify Earnings

Redevelop Earnings Baseand Establish Competitive
Position

Pursue ‘Vision’ for Haneda Airport•

Increasing Performance of Urban Duty-Free
Stores•Promotion of domestic/international shared
use terminal plan (T2 internationalization)•

Development of a Business Mall
Vacant space utilization measures

Participation in Palau International Airport operations•

Lounge renovation

Participation in Zone 1 operations at former Haneda
site

•

•

Construction of T2 north-side domestic flights
facility (Office space expansion and upgrade)

•

•

•

Expansion of P4 parking structure•

Procurement cost reduction project•

Development of joint business with BIC CAMERA (AirBIC)•

Promote readiness for Tokyo
Olympics/Paralympics•

Start of directly managed stores at Chubu
International Airport•

Acquire SKYTRAX 5 Star rating for fourthconsecutive year•

Promotion of arrival duty-free stores••

Borderless EC business initiatives

Incorporate robotics and other cutting-edge
technologies●Conceptual rendering of Zone 1 of former Haneda site
after prep work completion

Japan Airport Terminal Co., Ltd.

●Award reception ceremony at Haneda Airport

08●Terminal 1 POWER LOUNGE NORTH

4. Progress under the Medium-Term Business Plan
(2) Expand Business Domains that Leverage Strengths and Diversify Earnings(i) Urban Duty-free Business Progress■First-half Results and Full-year Forecasts
Items

1H Results LY Results

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

Per-unit purchases(thousand yen)
No. of purchasing
customers (people/day)Rate of

ChangeFull-yearchangeamountForecasts(%)■Key Factors in Improved Performance(2017 Initiatives)

Initialforecasts

Difference

*1

3.6

2.2

1.3

61.2

7.6

7.0

0.6

0.0

-0.9

1.0

-

0.1

-0.0

0.1

32

33

33

33

613

390

642

572

(Operating revenues)
・Start of sales to same-day departure customers (from January)
・Sale of JDF GINZA exclusive cosmetics (from June)・Adoption of consumption tax-exempt sales spaces (from July)
・Stronger tie-ups with airlines (coupon distribution)
・Enactment of promotions featuring Japan brand cosmetics(Operating income)・Profit growth through aforementioned sales strategies
・Enactment of sales-linked shareholder support
・Smaller depreciation burden through impairment at previous
fiscal year-end*1 Financial forecast announced in May 2017.

(ii) Per-unit Purchasing at Duty-free Stores, Number of Customers
Haneda International

(Yen)

FY14

FY15
No. of customers■ Key Points
Japan Airport Terminal Co., Ltd.

Increases in customer
numbers and per-unit(Persons)
purchasing

FY16

Narita

(Yen)

FY14

FY17

FY15
No. of customers

Per-unit(Persons)

FY16

FY17

Per-unit

・At Haneda International, sales growth from higher customer numbers and per-unit purchasing
・At Narita, signs of recovery in per-unit purchasing despite lower customer numbers

09

4. Progress under the Medium-Term Business Plan
(3) Pursue ‘Vision’ for Haneda Airport
1. Role as Hub for 48 Domestic Routes and 31 Cities
Worldwide••

Total Business Cost—Investment of ¥75.0 billion
Total for T2 south-side internationalization and boarding
facilities for domestic flights
International flights
exterior view (image)

Convenience for visitors to Japan (inbound)
Convenient connections to regional airports

2. Effect of Strengthening Domestic/International
Hub Function••

Rippling of economic effects out to regions, revitalization ofregional airports
Outbound promotion

3. Improved Evaluation of Connection Convenience(Dom./Intl.: Intl./Dom. MCT)••

Haneda (70 min.: 80 min.) ・ Narita (45 min.: 75 min.)Kansai (55 min.: 60 min.) ・ Chubu (60 min.: 60 min.)Domestic flights satellite
exterior view (image)

Haneda Airport
strengths

Future ofHaneda Airport

User
needs

International flights

Domestic flights
Improvedinternational/domestic
connection convenience

Departures: 3rd floor

Departures: 2nd floor

Arrivals: 2nd floor (domestic departures)

Arrivals: 1st floor

International flights hall: 1st floor (domestic arrivals)

International flights: Departure lobby

2nd floor
1st floor

Domestic flights: Departure lobby

Domestic flights: Arrival lobby

Japan Airport Terminal Co., Ltd.

International flights: Arrival lobby
International flights hall

10

LeavingJapan

3rd floorEnteringJapan

2nd floor

4. Progress under the Medium-Term Business Plan
(4) Redevelop Earnings Base and Establish Competitive Position■ THE HANEDA HOUSE (approx. 4,200 m2) Scheduled grand opening in December 2018
“Spend time at Haneda”—Transform from a transit spot to a place to stay
Commence Phase 1 operations (May 31, 2017 opening)
Rental office “Regus express” (approx. 500 m2)

Phase 2 (scheduled opening in summer 2018)
Golf studio (approx. 370 m2)

Phase 3 (scheduled opening in winter 2018)
Group of residential tenants (approx. 2,000 m2)

Image

Image

Effective Asset Utilization to Maximize Earnings■ Vacant space utilization measures

Work
Eat

As part of a three-phase plan scheduled forenactment through winter 2018, Phase 1
operation “Regus express,” a rental officeenterprise, opened on May 31, 2017. The
new airport functionality made possible withthis move—designed to encourage spendingtime at the airport—is also having a positive
impact on the surrounding area.

RefreshActiveTHE
HANEDAHOUSEFashionEnd of FY16

Learn

CultureEmpowerment(8 keywords that define facilities)

Phase 2 will see the opening of a golf studio in summer 2018, followed in winter 2018
by the scheduled start of operations at an area comprised of a new group of residential
tenants that can propose options for spending time at the airport. The total
development area for all three phases will cover approximately 4,200 m2.

Japan Airport Terminal Co., Ltd.

(Current)

11

FY17–19(Measure enactment)

Sep. 30,
2017
Vacancyrate

Vacancy
rate

5.6％

FY18

FY19

FY20
(Target)

Vacancy
rate

Under

3.0%

6.0％
・Attract airline companies
・Build multipurpose commercial
facilities, others

5. Safety Management Initiatives at Haneda Airport
Disaster Reduction Measures at the Terminal《No danger of passenger terminal collapse even in
massive earthquakes of intensity 6 or greater》■ Improve structure durability
・ Reinforce passenger terminal ceiling (including
atrium) and others—Prevent falling debris
・ Switch fire barrier wall from glass-based to filmbased—Prevent flying glass

Film-based fire barrier■ Install evacuation guidance equipment for disasters
・Adopt system to promptly display urgent earthquake and tsunami bulletins, J Alerts and otheralert information on flight monitors in the building and monitors inside gates (Future Vision)

Urgent Earthquake
Bulletin
Beware of Strong
Tremors

Gate lounge (FV monitor)<FV monitors can be switched to NHK>・Enact measures to prevent fallingdebris in connecting corridors

・Install select escape routes in the building withguide lights equipped with flashing lights and audio
guidance functions■Adopt megaphones with four-language capabilities as evacuation
guidance tools for foreign visitors
Japan Airport Terminal Co., Ltd.

12

Second Quarter of FY17

Supplementary Material
1. Details of Consolidated Financial Results for FY17 2Q
2. Details of Consolidated Financial Forecast for FY17
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, theoriginal shall prevail.

Japan Airport Terminal Co., Ltd.
http://www.tokyo-airport-bldg.co.jp/

1. Details of Consolidated Financial Results for FY17 2Q(1) Changes in Passenger Volume (Haneda, Narita and Kansai)(Thousand passengers)

70,00068,000

FY17 forecast＋3.5％(Thousand passengers)

68,414

Haneda Airport – domestic flights

66,093

18 ,000(＋3.5％）

62,55364,00061,41060,00058,000

10 ,000

7,948

Mar. 2011
the Great East
Japan Earthquake

54,0006, 000

1H result ＋ up 5.0％
2H forecast ＋ up 2.0％

50,000Initial forecasts + up 1.0％
Initial forecasts + up 1.0％

2013

2014

2015

2016

2017

← Results

Forecast →20 11

FY17 forecast＋4.2％

21,00033,664（Initial forecasts ＋4.0％）

32,410(＋3.9％）

19,000(＋4.4％）
33,00031,05530,86231,00025,000

20 14

20 15

20 16
← Results

17,275* Figures announced May 2017
(Quick announcement figures)

13,523

2014

2015

2016
← Results

12,051
11,4281H result ＋ up 10.6％
Initial forecasts + up 4.5％
2H forecast ＋ up 10.0％ Initial forecasts + up 4.5％

9,000
FY

(*19,144）（＋10.8％）11,000

1H result ＋ up 2.7％
Initial forecasts + up 2.7％
2H forecast ＋ up 5.8％ Initial forecasts + up 5.3％(＋10.8％)(＋10.9％)（Initial forecasts ＋4.5％）

13,000Mar. 2011
The Great East
Japan Earthquake

2013

19,151＋10.3％

15,000（＋4.4％）* Figures announced May 2017
(Quick announcement figures)

2012

FY17 forecast

20 17
Forecast →21,216

Kansai Airport – international flights

17,000FY

7,000

23,000

2011

20 13

(*32,410）

29,302

29,71029,00027,00020 12(Thousand passengers)

23,000

Narita Airport – international flights

35,000Mar. 2014
Increase in the numberof landing slots(30,000/year)

0(Thousand passengers)

37,000Oct. 2015
Flights to and from China up
from 8 to 20 flights/day

FY

FY

2012

(*15,653）（＋16.5％）* Figures announced May 2017
(Quick announcement figures)

1H result ＋ up 11.7％ Initial forecasts + up 6.9％
2H forecast ＋ up 8.5％ Initial forecasts + up 5.2％

2, 00048,000

2011

8,039

Mar. 2011
The Great East
Japan Earthquake

4, 00052,000(＋10.0％)Oct. 2016
Flights to and from the U.S.
up from 8 to 12 flights/day

8, 00058,75256,00011,558

12 ,000* Figures announced May 2017
(Quick announcement figures)

62,656

13,434

14 ,000(*65,816）

17,205
15,642(＋16.4％)＋10.1％（Initial forecasts ＋6.0％）（＋5.2％）

62,000

FY17 forecast

16 ,000(＋5.7％)(Initial forecasts +1.0%)

66,000

Haneda Airport – international flights

2011

2017
Forecast →

14

2012

2013

2014

2015

2016

2017

← Results

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

1. Details of Consolidated Financial Results for FY17 2Q(2) Consolidated Financial Results for FY17 2Q
Items

FY17 2Q

FY16 2Q(Results)(Results)

Ratio

ChangeRatio

Initial forecast

Rate ofDifference(May 2017)changeRatio

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen

Operating revenues

108,066

100.0

99,840

100.0

8,225

8.2

103,400

100.0

4,666

Facilities management

28,30526.2

26,698

26.8

1,606

6.0

27,60026.6

705

Merchandise sales

69,89564.7

63,721

63.8

6,173

9.7

66,500

64.3

3,395

Food and beverage

9,866

9.1

9,420

9.4

445

4.7

9,300

9.0

566

58,04753.7

53,051

53.1

4,996

9.4

55,000

53.2

3,047

52,57348.6

47,738

47.8

4,835

10.1

49,700

48.1

2,873

Cost of sales
Cost of sales of merchandise(Ratio)(5,473

Cost of sales of food and beverage(Ratio)75.2％)

(

(

5,312

5.1

55.5％)

74.9％)(( 0.3P)

161

5.3

56.4％)

(

5,300

3.0

( - 0.9P)

74.7％)(( 0.5P)

5.1

57.0％)

173( - 1.5P)

Gross profit

50,01946.3

46,789

46.9

3,229

6.9

48,400

46.8

1,619

Selling, general and administrative
expenses

43,27040.1

42,324

42.4

945

2.2

43,20041.8

70Operating income

6,748

6.2

4,464

4.5

2,283

51.2

5,200

5.0

1,548

Non-operating income/loss

1,999

1.9

1,772

1.7

227

12.8

1,400

1.4

599

Ordinary income

8,748

8.1

6,237

6.2

2,511

40.3

6,600

6.4

2,148

-11

-0.0

-0

-0.0

-11

-

-

-

-

6,193

5.7

4,296

4.3

1,897

44.2

4,700

4.5

1,493

Extraordinary income/loss
Net income attributable to owners ofparent* Ratio: Cost of sales of merchandise / Operating revenues of merchandise
Ratio: Cost of sales of food and beverage / Operating revenues of food and beverage
15

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

1. Details of Consolidated Financial Results for FY17 2Q(3) Financial Results by Segment(i) Facilities management
FY17 2Q(Results)

Items

FY16 2Q(Results)
Ratio

Sales to external customers

Millions of yen

ChangeRatio％ Millions of yen

Initial forecast(May 2017)

Rate ofchange％ Millions of yen

Difference

Ratio

％

Millions of yen％ Millions of yen

Rent revenues

6,639

22.7

6,494

23.5

144

2.2

6,600

23.1

39

Facility user charges
revenues

9,448

32.2

9,009

32.6

438

4.9

9,100

31.8

348

Other revenues

12,21741.7

11,193

40.6

1,023

9.1

11,90041.6

317

Subtotal

28,305

96.6

26,698

96.7

1,606

6.0

27,60096.5705Intersegment sales

989

3.4

921

3.3

68

7.4

1,000

3.5

-10

29,294100.0

27,619

100.0

1,675

6.1

28,600100.0694Operating expenses

25,50787.1

24,270

87.9

1,237

5.1

25,40088.8

107Operating income

3,787

12.9

3,349

12.1

437

13.1

3,200

11.2

587

Total

(Ratio)・Rent revenues:
・Facility user charges revenues:
・Other revenues:(

12.9％)(

12.1％)( 0.8P)

Increase in space leased to airline companies, etc.
Increase in income from PSFC
Increase in commissioned facility management revenues
for Haneda international flights
Increase in domestic flight parking revenue
Increase in subcontracted work revenues

16(

11.2％)( 1.7P)＋¥0.1 billion＋¥0.4 billion＋¥0.4 billion＋¥0.1 billion＋¥0.2 billion

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

1. Details of Consolidated Financial Results for FY17 2Q(3) Financial Results by Segment(ii) Merchandise sales
FY17 2Q(Results)

Items

FY16 2Q(Results)
Ratio

ChangeRatio

Rate ofchangeInitial forecast(May 2017)

Difference

Ratio

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen

Domestic terminal stores

17,56425.0

16,786

26.2

778

4.6

17,20025.7

364International terminal
stores

16,90324.0

16,294

25.4

609

3.7

16,20024.2

703

Other sales

35,42750.4

30,641

47.8

4,786

15.6

33,100

49.5

2,327

69,89599.4

63,721

99.4

6,173

9.7

66,500

99.4

3,395

415

0.6

391

0.6

23

6.0

400

0.6

15

70,310100.064,113

100.0

6,197

9.7

66,900

100.0

3,410

Operating expenses

65,09592.6

60,803

94.8

4,291

7.1

62,400

93.3

2,695

Operating income

5,215

7.4

3,310

5.2

1,905

57.6

4,500

6.7

715

Sales to external customers

SubtotalIntersegment sales
Total(Ratio)(7.4％)( 5.2％)( 2.2P)( 6.7％)

・Domestic terminal stores:
Increase in sales of directly managed stores at Haneda domestic terminal, etc.
・International terminal stores: Increase in sales of directly managed stores at Haneda international terminal
Increase in sales of directly managed stores at Narita Airport
Decrease in sales of boutique store at Kansai Airport
Increase in sales accompanying full-year operation of urban duty-free stores
・Other sales:
Increase in wholesales to Haneda international flight duty-free stores
Increase in wholesales to Narita Airport, regional airports and others

17( 0.7P)+¥0.7 billion+¥0.3 billion+¥0.3 billion-¥1.5 billion+¥1.3 billion＋¥2.5 billion＋¥2.1 billion

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

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

Items

FY16 2Q(Results)
Ratio

Sales to external customers

Millions of yen

ChangeRatio％ Millions of yen

Rate ofchange％ Millions of yen

Initial forecast(May 2017)

Difference

Ratio

％

Millions of yen％ Millions of yen

Sales from restaurants

5,011

44.9

4,892

45.7

119

2.4

4,700

43.9

311

Sales from in-flight meals

3,277

29.3

3,168

29.6

109

3.4

3,200

29.9

77

Other sales

1,577

14.1

1,360

12.7

216

15.9

1,400

13.1

177

Subtotal

9,866

88.3

9,420

88.0

445

4.7

9,300

86.9

566

Intersegment sales

1,303

11.7

1,280

12.0

22

1.7

1,400

13.1

-96

11,169100.0

10,701

100.0

467

4.4

10,700100.0

469

10,72796.0

10,331

96.5

396

3.8

10,500

98.1

227

441

4.0

370

3.5

71

19.2

200

1.9

241

Total
Operating expenses
Operating income(Ratio)・Sales from restaurants:
・Sales from in-flight meals:
・Other sales:

(

4.0％)

( 3.5％)( 0.5P)

Increase in sales tracking passenger growth
Increase in sales of new customer contracts
Increase in commissioned facility management revenues
for Haneda international flight stores18( 1.9％)( 2.1P)+¥0.1 billion+¥0.1 billion+¥0.2 billion

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

1. Details of Consolidated Financial Results for FY17 2Q(4) Breakdown of Selling, General and Administrative Expenses
Items

FY17 2Q(Results)

FY16 2Q(Results)
Ratio

Rate ofchangeChangeRatio

Millions of yen％

Millions of yen％

Millions of yen％

108,066

100.0

99,840

100.0

8,225

8.2

43,27040.1

42,324

42.4

945

2.2

Salaries and wages

4,571

4.2

4,334

4.3

237

5.5

Provision for employees' bonuses

1,462

1.4

1,274

1.3

188

14.8

Provision for directors' bonuses

114

0.1

112

0.1

2

1.8

Expenses for retirement benefits

493

0.5

502

0.5

-9

-1.9

6,105

5.7

6,240

6.3

-134

-2.2

12,621

11.7

11,602

11.6

1,018

8.8

5,233

4.8

5,714

5.7

-481

-8.4

12,668

11.7

12,542

12.6

126

1.0

Operating revenues
Selling, general andadministrative expenses

Rent expenses
Business consignment expenses
Depreciation expenses
Other costs and expenses

19

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

1. Details of Consolidated Financial Results for FY17 2Q(5) Changes in Non-Operating Income/Expenses and Extraordinary Income/Loss
Items

FY16 2Q(Results)

FY17 2Q(Results)

Rate of change

ChangeRatio

Ratio
Millions of yen％

Millions of yen％

Millions of yen％

108,066

100.0

99,840

100.0

8,225

8.2

Operating income

6,748

6.2

4,464

4.5

2,283

51.2

Non-operating income

2,212

2.1

2,051

2.0

160

7.8

Interest income and dividend

541

0.5

536

0.5

4

0.9

Return on investment by theequity method

1,371

1.3

1,202

1.2

168

14.0

300

0.3

312

0.3

-12

-4.0

212

0.2

279

0.3

-66

-23.9

159

0.1

228

0.2

-68

-30.2

53

0.1

50

0.1

2

4.4

8,748

8.1

6,237

6.2

2,511

40.3

1

0.0

-

-

1

-

12

0.0

0

0.0

12

-

Income taxes

2,454

2.3

1,890

1.9

564

29.8

Net income attributable to ownersof parent

6,193

5.7

4,296

4.3

1,897

44.2

Operating revenues

OthersNon-operating expenses
Interest expenses
Miscellaneous expenses

Ordinary income
Extraordinary income
Extraordinary loss

20

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

1. Details of Consolidated Financial Results for FY17 2Q(6) Consolidated Balance Sheets
Cash and deposits
Accounts receivable
Securities
Merchandise
Others(Millions of yen)+¥6.2 billion+¥0.6 billion-¥5.0 billion-¥1.4 billion+¥1.9 billion

Current
liabilities＋1,62535,596
69,907

Current
Assets＋2,352

Investments and other assets
Investment securities+¥2.2 billion-¥2.4 billion

Fixedliabilities-2,545

Fixedassets＋2,391+¥2.5 billion+¥1.0 billion

Long-term loans payable

37,22149,44751,992+¥0.9 billion

Accumulated depreciation -¥4.3 billion
Construction in progress
Others-¥0.4 billion+¥0.7 billion-¥0.4 billion+¥1.7 billion

67,555

Tangible fixed assets(depreciable assets)
Buildings, etc.

Accounts payable – trade
Income taxes payable
Short-term borrowings
OthersRetained earnings+¥4.8 billion
Valuation differences+¥0.4 billion
Deferred hedge+¥0.1 billion
Retirement benefit-related
adjustments (cumulative) +¥0.1 billion

147,862

145,471
131,101

125,438

Total assets
217,770

Total assets
213,026

FY17 2Q

FY16

Net assets＋5,663FY16

21

Equity ratio
FY17 2Q

59.0％

FY16

57.7％
（ +1.3Ｐ）

FY17 2Q
Note: Figures shown are rounded down to the nearest million yen.

1. Details of Consolidated Financial Results for FY17 2Q(7) Consolidated Statements of Cash Flows
Items

FY17 2Q(Results)

FY16 2Q(Results)

ChangeMillions of yen

Millions of yen

Millions of yen

11,116

2,315

8,801

Income before income taxes and minority interests

8,736

6,236

2,499

Depreciation and amortization

5,269

5,754

-485

Other current assets-1,969-2,233

263

Other current liabilities

1,299-5,143

6,443

-15

-233

218

-842

353

-1,195-1,361-2,4181,056-5,356-7,3892,032

Purchase of tangible fixed assets-4,945-6,603

1,657

Purchase of intangible fixed assets

-274

-811

537

Others

-137

25

-163

-4,492-6,773

2,280

200

-

200

Repayment of long-term loans payable-3,120-5,206

2,086

Dividends payment-1,380-1,462

81

-192

-104

-87

-2

-2

-0

Increase (decrease) in cash and cash equivalents

1,263-11,849

13,113

Cash and cash equivalents at beginning of period

39,10843,565-4,456

Cash and cash equivalents at end of period

40,372

31,715

8,656

Cash flows from operating activities

Other fixed liabilities
OthersIncome and other taxes paid

Cash flows from investing activities

Cash flows from financing activities
Short-term borrowings

Others
Effect of exchange rate change on cash and cash equivalents

22

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

1. Details of Consolidated Financial Results for FY17 2Q(8) Capital Expenditure and Depreciation Expenses
FY13 2Q

FY14 2Q

FY15 2Q

FY16 2Q

FY17 2Q(Results)(Results)(Results)(Results)(Results)

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

Depreciation

6,258

5,847

5,525

5,714

5,233

Items

expenses• Breakdown of major capital expenditures
FY17 2Q (Results)
Building 2 internationalization construction(Domestic flight boarding facilities)¥2.0 billion

Lounge renovation construction¥1.0 billion

International flight terminal PBB outdoor advertising panel construction ¥0.4 billion
Construction of dormitory for single employees¥0.2 billion• Breakdown of main depreciation expenses

FY13 2Q

FY14 2Q

FY15 2Q

FY16 2Q

FY17 2Q(Results)(Results)(Results)(Results)(Results)

Billions of yen

Billions of yen

Billions of yen

Billions of yen

Billions of yen

Terminal 1

1.9

1.9

1.9

2.1

2.1

Terminal 2

2.6

2.4

2.2

2.0

1.9

P4 Parking

0.2

0.2

0.2

0.1

0.1

23

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

1. Details of Consolidated Financial Results for FY17 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 (%)

FY16

1,973,826

100.0%

280,047

14.2%

583,96529.6%

514,68326.1%

595,131

30.2%

FY17

2,347,824

100.0%

320,448

13.6%

664,56628.3%

617,37326.3%

745,438

31.8%(2) The number of departing non-Japanese visitors by airport and nationality (monthly average)○ Volume ranking and change in departing passengers by nationality for FY17 1H<<Haneda Airport>>
No. of passenger

Composition

volume (person)

ratio (%)<<Narita Airport>>
Change (%)

Composition

volume (person)

ratio (%)

China (incl. Hong Kong)

91,642

28.6%

6.3%

180,670

South Korea

45,722

14.3%

17.3% Taiwan

98,483

U.S.A

33,16010.3%

47.3% South Korea

Taiwan28,851

9.0%

3.8% U.S.A

No. of passenger

Composition

volume (person)

ratio (%)

Non-Japanese

320,448

Japanese

378,478

Total

698,926

China (incl. Hong Kong)

Change (%)

100
80

35.1%

83,56712.6%

47.9% Taiwan

103,566

16.8%

0.5%

70,147

10.6%

1.1% Thailand

18,5213.0%

0.8%

No. of passenger

Composition

volume (person)

ratio (%)

1,215,868

20(+14.7%)120(+17.3%)80（+3.8%)

40(+14.8%)

0
1H

2H

2016

1H

Change (%)

No. of passenger

Composition

volume (person)

ratio (%)

Change (%)

54.7%

10.7% Non-Japanese

617,373

70.1%

15.4%

45.3%

1.4% Japanese

262,958

29.9%

1.6%

100.0%

6.2% Total

880,330

100.0%

10.9%(No. of travelers: thousands)
Figures in ( ) denote percent change*Compared to FY16 1H(+6.7%)

250(+5.5%)

200(+11.9%)(+35.1%)(+14.9%) 150(-0.9%)(+47.9%)(+12.8%)

0
1H

2015

11.9%

28.6%

10.8% Total

40

2H

35.7%

176,450

100.0%

60

1H

220,629551,302

160

Change (%)

6.7%

664,566(+23.7%)

ratio (%)

-0.9% South Korea

8.5% Japanese

200

Composition

volume (person)

14.8%

54.2%

(+6.3%)

No. of passenger

27.2%

45.8%

China (incl. Hong Kong)
South Korea
TaiwanSouth-East Asia
Europe/U.S.A
OthersChange (%)
China (incl. Hong Kong)

13.6% Non-Japanese○ Number of departing non-Japanese passengers<< Kansai Airport >>No. of passenger

2H

1H

2015

2H
2016

1H
2017

2017

Notes: Passenger data has been aggregated by the company using immigration statistics from the Ministry of Justice.
Passenger numbers utilize April to August data from the first half of FY15, FY16 and FY17, respectively; passenger numbers do not include connecting passengers.

24(+0.5%)
100(+12.0%)50
0(+11.3%)(+12.9%)
1H

2H
2015

1H

2H
2016

1H
2017

1. Details of Consolidated Financial Results for FY17 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 sales: millions of yen)

«Narita»(No. of travelers: thousands)
Figures in ( ) are percent change

4,500
Other countries

Foreigntravelers(Change)

1,500

700

South-East Asia
Europe and USSouth Korea

Japan

3,500

384
53
126
143

China

3,000

258
2,500

1,500

Japanesetravelers(Change)

1,200

500

378(＋8.5%)

1,424

282

1,307

400

300
Foreigntravelers(Change)（＋26.9%）-544

Japanesetravelers(Change)

50

43

900
750

500

259

274

300

200

666

600

300
100

400

（-5.3%）

450（＋10.9%）

100

150
-

0
FY16 1H

600

551(＋1.4%)

600

200

1,659

601

1,050

(＋7.7%） 320(＋13.6%)

1,323

1,000
500

600

322

349
2,000

1,350

328
143
171
185

4,000

Taiwan700

665(＋10.7%)

0FY16 1H

FY17 1H

FY17 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.
Passenger numbers utilize April to August data from the first half of FY16 and FY17, respectively.

(4) Main factors in the fluctuation of sales of duty-free stores and purchasing trends«Haneda» Increase in passenger volume among Americans, as well as from Indonesia, Vietnam and other sites in Southeast Asia.
While the increase in Chinese passengers is robust, the growth rate is slowing.
 Sales from Chinese nationals up over 20% atop higher purchasing customer volume and growth in purchases per
customer.
Elsewhere, significant growth in sales from Taiwanese nationals outpacing extent of passenger volume growth;similarly, for sales from Japanese passengers, while the percentage of sales composition has fallen, sales are
increasing.
«Narita» Passenger volume experiencing increases in Korean and Chinese nationals, reflecting new routes and more flights.
 By nationality, while sales from Japanese and Taiwanese nationals declined, sales from Chinese nationals were up,
lifting overall sales.

25<Duty-free Store Per-unit Purchasing>
FY17 1H
Amount per
customer

ChangeRate ofchangeHaneda

8,359

425

5.4%

Narita11,383

1,204

11.8%

2. Details of Consolidated Financial Forecast for FY17(1) Consolidated Financial Forecast for FY17
Items

FY17
(Forecast)

FY16(Results)

Ratio

ChangeRatio

Initial forecast(May 2017)

Rate ofchangeDifference

Ratio

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen

219,000

100.0

204,953

100.0

14,0466.9

208,600

100.0

10,40057,60026.3

54,975

26.8

2,624

4.8

55,800

26.7

1,800

Merchandise sales

141,800

64.7

131,098

64.0

10,701

8.2

134,100

64.3

7,700

Food and beverage

19,6009.0

18,879

9.2

720

3.8

18,7009.0

900

117,300

53.6

109,477

53.4

7,822

7.1

110,700

53.1

6,600

106,600

48.7

99,000

48.3

7,599

7.7

100,300

48.1

6,300

Operating revenues
Facilities management

Cost of sales
Cost of sales of merchandise(Ratio)Cost of sales of food and beverage(Ratio)(75.2％)

10,700((10,4774.9

54.6％)

75.5％)(( - 0.3P)

5.1

55.5％)

222(

10,4002.1( - 0.9P)

74.8％)(( 0.4P)

5.0

55.6％)

300( - 1.0P)

101,700

46.4

95,475

46.6

6,224

6.5

97,900

46.9

3,800

Selling, general and administrative
expenses

90,00041.1

85,978

42.0

4,021

4.7

87,400

41.9

2,600

Operating income

11,700

5.3

9,497

4.6

2,202

23.2

10,500

5.0

1,200

2,900

1.3

3,346

1.6

-446

-13.4

2,300

1.1

600

14,600

6.6

12,843

6.2

1,756

13.7

12,800

6.1

1,800

-

-

-1,613

-0.8

1,613

-

-100

-0.0

100

10,300

4.7

6,886

3.4

3,413

49.6

8,900

4.3

1,400

Gross profit

Non-operating income/loss

Ordinary income
Extraordinary income/loss
Net income attributable to owners ofparent* Preconditions: Forecast of number of passengers
Haneda domestic (full-year)+3.5% YoY

Haneda international (full-year)+10.0% YoY

Narita international (full-year)+3.9% YoY

Kansai international (full-year)+10.8% YoY* Ratio: Cost of sales of merchandise / Operating revenues of merchandise
Ratio: Cost of sales of food and beverage / Operating revenues of food and beverage

26

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

2. Details of Consolidated Financial Forecast for FY17(2) Financial Forecast by Segment(i) Facilities management
FY17(Forecast)

Items

FY16
(Results)

Ratio
Sales to external customers

Millions of yen

ChangeRatio％ Millions of yen％ Millions of yen

Initial forecast(May 2017)

Rate ofchangeDifference

Ratio

％

Millions of yen％ Millions of yen

Rental revenues

13,30022.3

13,078

23.0

221

1.7

13,20022.8

100Facility user charges
revenues

18,70031.4

18,194

32.1

505

2.8

18,30031.7

400

Other revenues

25,60042.9

23,703

41.7

1,896

8.0

24,300

42.0

1,300

Subtotal

57,60096.6

54,975

96.8

2,624

4.8

55,800

96.5

1,800

Intersegment sales

2,000

3.4

1,825

3.2

174

9.5

2,000

3.5

-

59,600100.056,801

100.0

2,798

4.9

57,800

100.0

1,800

Operating expenses

53,20089.3

50,331

88.6

2,868

5.7

51,900

89.8

1,300

Operating income

6,400

10.7

6,470

11.4

-70

-1.1

5,900

10.2

500

Total

(Ratio)( 10.7％)(

11.4％)(- 0.7P)(・Rent revenues:
Increase in space leased to airline companies, etc.
・Facility user charges revenues: Increase in income from PSFC
・Other revenues:
Increase in commissioned facility management revenues
for Haneda international flights
Increase in parking fee revenues

27

10.2％)( 0.5P)+¥0.2 billion+¥0.5 billion+¥1.6 billion+¥0.2 billion

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

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

FY16

(Forecast)(Results)

Ratio
Sales to external customers

Millions of yen

ChangeRatio％ Millions of yen％ Millions of yen

Rate ofchangeInitial forecast

Difference(May 2017)

Ratio

％

Millions of yen％ Millions of yen

Domestic terminal stores

35,00024.5

33,829

25.7

1,170

3.5

34,30025.4700International terminal stores

33,20023.3

32,991

25.0

208

0.6

32,200

23.8

1,000

Other sales

73,60051.6

64,277

48.7

9,322

14.5

67,600

50.1

6,000

Subtotal

141,800

99.4

131,098

99.4

10,701

8.2

134,100

99.3

7,700

Intersegment sales

900

0.6

813

0.6

86

10.7

900

0.7

-

142,700

100.0

131,911100.0

10,7888.2

135,000

100.0

7,700

132,800

93.1

124,657

94.5

8,142

6.5

125,700

93.1

7,100

9,900

6.9

7,254

5.5

2,645

36.5

9,300

6.9

600

Total
Operating expenses
Operating income(Ratio)・Domestic terminal stores:
・International terminal stores:

・Other sales:

(

6.9％)

(

( 1.4P)

5.5％)

Increase in sales of directly managed stores at Haneda domestic terminal, etc.
Increase in sales of directly managed stores at Haneda international terminal
Increase in sales of directly managed stores at Narita Airport
Decrease in sales from change in contract format for boutique stores at Kansai Airport
Increase in sales of urban duty-free stores
Sales from new directly managed stores at Chubu Airport
Growth in wholesales to Haneda international flight duty-free stores
Growth in wholesales to Narita Airport, regional airports and others28-( 6.9％)+¥1.1 billion+¥0.5 billion+¥0.4 billion-¥3.4 billion+¥2.4 billion+¥0.2 billion+¥4.9 billion+¥4.3 billion

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

2. Details of Consolidated Financial Forecast for FY17(2) Financial Forecast by Segment(iii) Food and beverage
Items

FY17

FY16

(Forecast)(Results)

Ratio

Initial forecast

Rate of

ChangeRatio

Difference(May 2017)changeRatio

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen

Sales from restaurants

9,800

43.9

9,657

45.1

142

1.5

9,500

44.4

300

Sales from in-flight meals

6,500

29.2

6,405

29.9

94

1.5

6,400

29.9

100

Other sales

3,300

14.8

2,816

13.2

483

17.2

2,800

13.1

500

Subtotal

19,60087.9

18,879

88.2

720

3.8

18,70087.4900Intersegment sales

2,700

12.1

2,516

11.8

183

7.3

2,700

12.6

-

22,300100.021,395

100.0

904

4.2

21,400100.0

900

21,50096.4

20,638

96.5

861

4.2

20,900

97.7

600

800

3.6

757

3.5

42

5.6

500

2.3

300

Sales to external customers

Total
Operating expenses
Operating income(Ratio)・Sales from restaurants:
・Other sales:

(

3.6％)

(

( 0.1P)

3.5％)

Increased sales accompanying passenger volume growth
Increase in commissioned facility management revenues
for Haneda international flight stores

29

(

2.3％)

( 1.3P)+¥0.1 billion+¥0.4 billion

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

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

Capital expenditure
Depreciation
expenses

FY12

FY13

FY14

FY15

FY16

FY17

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

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

7,215

5,765

4,830

8,379

6,853

29,22012,865

12,68011,872

11,232

11,60910,736• Breakdown of major capital expenditures
FY17 (Forecast)

FY16 (Results)
Acquired land for dormitory for single employees¥0.8 billion

Building 2 internationalization construction

PBB step-less conversion construction for Building 1¥0.7 billion

Lounge renovation construction¥19.7 billion¥1.2 billion

Central surveillance room system update construction¥0.3 billion

Dormitory for single employees¥0.9 billion

Building 1 north side toilet upgrade¥0.3 billion

New construction of North Pier lounge for Building 2¥0.3 billion

International flights terminal PBB outdoor
advertising panel construction¥0.4 billion

・Breakdown of main depreciation expenses

FY12(Results)

FY13(Results)

FY14(Results)

FY15(Results)

FY16(Results)

Billions of yen

Billions of yen

Billions of yen

Billions of yen

Billions of yen

Billions of yen

Terminal 1

4.2

4.0

3.9

4.0

4.4

4.2

Terminal 2

5.2

5.4

5.0

4.4

4.1

3.8

P4 Parking

0.5

0.5

0.4

0.4

0.3

0.3

30

FY17
(Forecast)

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

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

120.0

Chubu International
Airport opened

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

Billionsof yen45.0

Great East Japan Earthquake

160.0

9-11 Terrorist Attack in the US

Y2K task

Voluntary closure of
Yamaichi Securities

200.0

H1N1 influenza outbreak(right) Ordinary income (forecast)Financial crisis being
triggered by the US(right) Ordinary income (results)

Hikes in the price of
crude oil(right) Cash flows (forecast)

Iraq war
SARS outbreak(right) Cash flows

Financial realignment(left) Operating revenues (forecast)

Narita Airport Terminal 2
started operation

240.0(left) Operating revenues (results)

Kansai International
Airport opened

Billionsof yen

40.0
35.0
30.0
25.0

Haneda Airport Terminal 2
started operation (Dec. 2004)

Haneda Airport Terminal 1
started operation (Sep. 1993)

18.1

15.7

18.0 20.0

17.1

80.0

15.0

14.6

15.1

13.9

13.3

11.8

13.6 12.8

14.6
10.0

10.7

40.0

3.6
4.9
3.1

0.0
90

91

92

93

94

95

96

97

98

99

0

1

2

3

'04

'05

'06

'07

'08

'09

'10

5.0

5.7

0.1
0.0
'11

'12

'13

'14

'15

'16

←

Results'17→

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

31Second Quarter of FY17

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.
In the event of any discrepancy between this translated document and theJapanese 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 2

Terminal 1

International
Passenger
Terminal

・ 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),
established through investment with airline
companies and other entities and centeredon Japan Airport Terminal Co., Ltd.
・ Business under contract (facilities
maintenance/management, duty-freestore operation, passenger services, etc.)
・ Wholesale and merchandise sales
・ Food and beverage services

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
AirportCentral Japan
International Airport• Commissioned management of
duty-free stores• Merchandise sales• Wholesale• Wholesale

Chengdu Shuangliu
International Airport(Sichuan Province, China)• Merchandise sales

34

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.

35

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
1955
1964

(July)(May)(April)1978(October)(May)

Established with private sector capital of 150 million yen.
The terminal building opened and launched operation.
Separate domestic arrival terminal building completed in time with the Tokyo Olympic
Games.
Duty-free sales operations commenced.
Commenced merchandise sales including duty-free articles, hotel reservation services
and other operations with the opening of Narita International Airport.

1990
1991
1993
1994

(February) Listed on second section of the Tokyo Stock Exchange.
(September) Listed on first section of the Tokyo Stock Exchange.
(September) Haneda Airport Terminal 1 (Big Bird) started operation.
(September) Launched commissioned operation of duty-free stores and wholesale of duty-free goods
accompanying opening of the Kansai Airport.

1998(March)2001
2002(February)(April)

2003
2004
2005
2006

The temporary international terminal at Haneda Airport started operation.

International charter flights commenced at Haneda Airport.
Terminated periodic international flights from Haneda Airport (transfer of China Airlines
and the EVA Airways to Narita).
(November) International charter flights between Haneda and Seoul (Gimpo) commenced.

Haneda Airport Terminal when opened(December) Terminal 2 at Haneda Airport started operation.
(February) Wholesale of duty-free goods commenced with the opening of Central Japan
International Airport.
(April)Participated in the project of the maintenance and operation of terminal at international
flight area of the Tokyo International Airport.
(June)

2007

2008
2009

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

(October)

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

2011(January)

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

2013

(November) Renewal of Terminal 1 building, Haneda Airport completed.
(April)The extended part of South Pier in Terminal 2 at Haneda Airport started operation.

2014(March)2010

Start of usage of international passenger terminal building expansion.

36

Haneda Airport Terminal 1

Haneda Airport Terminal 2

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

Food andbeverage
operations

Total:
17 companies

 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
 Sakura Shokai Co., Ltd.
Airport cleaning center management and waste treatment
 BIG WING Co., Ltd.
Advertising agency business, event planning andmanagement
 Haneda Passenger Service Co., Ltd.
Passenger services operations
 Japan Airport Ground Handling Co., Ltd.
Passenger handling services

Merchandise
sales
operations

Food and beverage operations

6 companies

4 companies

Merchandise sales operations

7 companies

 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
 Haneda Airport Enterprise Co., Ltd.
Store operation business Hamashin Co., Ltd.
Wholesale and retail sales of marine products
 Japan Airport Terminal Trading (Chengdu) Co., Ltd.
Merchandise sales and wholesale business at Chengdu
Shuangliu International Airport
 Japan Duty Free Fa-So-La Isetan Mitsukoshi Co., Ltd.
Development of airport duty-free stores (bonded stores) inurban areas
 Air BIC INC. Retail sales of home appliances 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
 KAIKAN KAIHATSU Co., Ltd.
Restaurant business, management and operation of
lodging, halls and meeting rooms371. Outline of the Company(5) Revenue Composition/Composition by Segment

FY17 2Q

Others 1%(1％)
In-flight meals ３％(3％)

Rent revenue ６％(7％)

Restaurants５％(5％)
Food andbeverage
operations 9％(9％)

Facilities
management
Operations
26％
(27％)

Others 33％(31％)

Facility user charges
revenue９％(9％)
Others 11％(11％)

Merchandise
sales operations
65％
(64％)

Stores at domestic
terminal 16％(17％)

Stores at internationalterminal 16％(16％)* Figures in ( ) are FY16 2Q results38

1. Outline of the Company(6) Revenue Composition/Details by Segment
Category

Revenue details

Rent revenue
Facilities
management
operations

Facility user charges
revenue
Others

Office lease (fixed rent); store lease(fixed rent + percentage commission)

Depreciation; water, heating, energy expenses;
repairs expenses; lease fee (such as national property usage fee);

Fees for use of passenger facilities (domestic flights: PSFC)

taxes and public charges; cleaning expenses; outsourcing fees

Commissioned facility management revenues for Haneda international flights,
parking fee revenue,advertising revenue; Sales from paid waiting room

Lease fee (such as national property usage fee); taxes andpublic charges (fixed asset tax); outsourcing fees

(Airport Lounge), revenue from subcontracted work
Stores at domestic
terminal

Merchandise
sales operations

Merchandise sales for stores at Haneda Airport

Cost of sales; supply expenses

Merchandise sales for lobby stores at Haneda Airport
Merchandise sales for stores such as duty-free stores at Narita International Airportand Kansai International Airport
Merchandise sales for duty-free stores in town

Cost of sales; supply expenses; percentage of business

Wholesale to Haneda Airport, Narita International Airport, Kansai International Airport,
and Central Japan International Airport commissioned management fee ofHaneda Airport, Narita International Airport, and Kansai International Airport

Cost of sales and agent service fee

Restaurants

Restaurant sales at Haneda Airport and Narita International Airport

Food expenses (cost of sales for food and beverage),percentage of businessIn-flight meals

Production and sales of in-flight meals

Food expenses (cost of sales for food and beverage)

Commissioned management fee of Haneda Airport international flights
Wholesale of products such as frozen foods and box meals

Food expenses (cost of sales for food and beverage),outsourcing costs

Stores at internationalterminal

OthersFood andbeverage
operations

Expenses details

Others

Factors behind changes in earnings:

Environment the airline industry operates in (such as changes in the number ofpassengers on both international and domestic flights)
Government measures, etc. (such as the government's and regulating authority's airport
management policy and revisions to and changes to the system of usage fees for national
assets)Changes in facility user charges (domestic flights)39

1. Outline of the Company(7) Revenue Composition by Region and Segment
FY17 2Q

KansaiInternational
Airport2％(4％)

NaritaInternational
Airport13％(13％)

Sales ofMerchandise
60％

Rent
revenue
10％

HanedaAirport79％(78％)
Central Japan
International
Airport andOthers2％(2％)

Outside airports(Urban duty-free stores,
company-held
premises)

4％(3％)

Other revenues
16％*Figures in ( ) are FY16 2Q results.
40

Facility user charges
revenue14％

1. Outline of the Company(8) Changes in Capital Investment41

２. Summary of Tokyo International Airport (Haneda)(1) Location Map■ Total area of airport■ Apron

1,522 haTotal area/268 ha

Spots/222■ 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. 407,000
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)

2,000

Haneda Airport
6,500

6,315

SARS outbreak

5,000

Narita International Airport

5,880

3,397

3,356

3,418

5,642

3,416

2,945
3,000

2,768

3,151

3,151

3,082

2,971

2,886

Haneda Airport

14
0

85

85

'99.3

'00.3

'01.3

95
02.3

1,564
1,400
1,343
1,200

1,155

3,105

3,086

481

Increase in flights to
Gimpo

35

161

243

195

275

Increase in flights
to Hong Kong

Launch of Hong Kong flights

Launch of
Beijing flights

130
84

'03.3

'04.3

803

726

– international flight passengers (right axis)

97

1,600

'05.3

New International Terminal started
operation

International charter flights
moved to Narita

1,000

Launch of Gimpo flights

794

2,000

1,720

3,241

3,366

1,000

2,930

2,692

2,677

2,587

1,800

6,609

5,875

– international flight passengers (left axis)
3,207

6,841

6,255

800

Expanded international terminal enters operation

5,141

5,933

The extended part of South Pier in Terminal 2
started operation

Terminal 2 opened at Haneda

5,568
5,416

6,265

6,141

5,854

6,000

4,000

6,163

The Great East Japan
Earthquake

6,196

Financial crisis being triggered by the US

6,180

6,495

6,229

Expanded South Side of Terminal 2
at Haneda Airport– domestic flight passengers (left axis)

H1N1 influenza outbreak

7,000(Ten thousand passengers)

9-11 Terrorist Attackin the US

Passengers using Haneda domestic flights
and Narita international flights(Ten thousand passengers)

Haneda international flight passengers(2) Changes in Passenger Volume on Domestic and International Flights

600

400

200

Launch of Shanghai flights

'06.3

'07.3

'08.3

'09.3

'10.3

'11.3

'12.3

'13.3

'14.3

'15.3

'16.3

'17.3

'18.3

0
Fiscal year

(Forecast)
Source: Created by the Company based on material from the Ministry of Land, Infrastructure,
Transport and Tourism and the Narita International Airport Corporation

43

２. Summary of Tokyo International Airport (Haneda)(3) Comparison of Passenger Volume
Japan Airport Passenger Volume Ranking(FY16)
Airport1

Haneda(Tokyo International)

Code

Annual(thousand people)

Daily average(thousand people)

Global Airport Passenger Volume Ranking(2016 calendar year)
Code

Annual(thousand people)

1 Atlanta

ATL

104,171

2 Beijing Capital International

PEK

94,3933 DubaiDXB

83,6544 Los Angeles

LAX

80,9215 Tokyo (Haneda)

HND

79,6996 Chicago (O’Hare)

ORD

77,960City/Airport

Share (%)

HND

81,735(66,093)

223

27.6

2 Narita
International
3 KansaiInternational

NRT

37,249(7,210)

102

12.6

KIX

25,613(6,569)70

8.6

4 Fukuoka

FUK

22,318(17,139)61

7.5

5 New Chitose

CTS

21,545(18,824)

59

7.3

6 NahaOKA

20,033(16,954)

54

6.8

ITM

15,100(15,100)

41

5.1

NGO

10,944(5,728)29

3.7

7 London (Heathrow)

LHR

75,715

9 Kagoshima

KOJ

5,443

(5,229)14

1.8

8 Hong Kong

HKG

70,305

10 SendaiInternational

SDJ

3,162

(2,937)8

1.1

9 Shanghai (Pudong)

PVG

66,00253,217(50,632)

10 Paris (Charles De Gaulle)CDG

65,9337 Osaka
International
8 Chubu Centrair
International

81 other airports

18.0

Figures in parentheses are airport passenger volume for domestic flights.
Material: Airport ranking chart for FY16, Japan Civil Aviation Bureau (MLIT)

44

Source: ACI (Airports Council International) publication“Annual World Airport Traffic Report 2017 EDITION”

２. Summary of Tokyo International Airport (Haneda)(4) Domestic Destinations and Flights Domestic flights 48 routes

Okinawa

Flights/day

Okayama

OKJ

10

Hiroshima

HIJ

18

Yamaguchi Ube

UBJ

10

Tottori

TTJ

5

Yonago

YGJ

Izumo

City
Toyama

TOY

4

Noto

NTQ

2

Komatsu

KMQ

10

6

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

NankiShirahama

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

4TohokuFlights/day

Kinki

Chubu

Code

Hokkaido

Code

Kanto

KyushuShikoku

ChugokuCity

Approx. 498 flights (departures)/day(excluding code share flights)

45

City

Code

Flights/day

Sapporo (Chitose)

SPK

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 2017)

２. Summary of Tokyo International Airport (Haneda)
City name(5) International Destinations and Flights

Code

Slots/day8

Beijing

PEK

1
5International flights to 31 cities, 34 routes
Approx. 118 flights departing per day

Hong Kong

HKG

3
Shanghai

China(Hongqiao)
Shanghai(Pudong)

SHA

4
5

PVG

4
4

Guangzhou

CAN

Tianjin

TSN

2

Seoul (Gimpo)

GMP

12

Seoul (Inchon)

INC

1

Korea

2
Taipei(Songshan)

TaiwanTaipei(Taoyuan)

TSA

8

TPE

2

Southeast Asia
Hanoi

HAN

2

Ho Chi Minh City

SGN

1Singapore

Singapore

SIN

Philippines

ManilaMNL

Indonesia

Jakarta

CGK

VietnamLondon5Frankfurt
Vancouver

Paris
Munich2Minneapolis
Beijing

Seoul(Gimpo)TianjinSeoul (Inchon)
Shanghai (Pudong)

Doha

ChicagoSan Francisco

Haneda1

New York

2
1
3
Thailand

Bangkok

BKK

Malaysia

Kuala Lumpur

KUL

2

Australia

SydneySYD

2New Zealand

OaklandAKL

1

Vancouver

YVR

1TorontoYYZ

1Honolulu

HNL

Kona

KOA

1

San Francisco

SFO

2

Los Angeles

LAX

3

New York

JFK

2Minneapolis

MSP

1

Chicago

ORD

1

Paris

CDG

3

Taipei (Songshan)

Guangzhou
Hanoi

2

Los Angeles

Shanghai(Hongqiao)
Dubai

TorontoTaipei (Taoyuan)
Hong Kong
Honolulu

ManilaBangkok
Ho Chi Minh City

Oceania

Kona

Kuala Lumpur

North America

Singapore

CanadaJakarta2
1

America

SydneyOaklandEurope3
France13
United Kingdom

LondonLHRFrankfurt

FRA

Munich

MUC

2

UAE

Dubai

DXB

1

Qatar

Doha

DOX

1

6:00–23:00

2
1

Germany

23:00–6:00
Middle East

Both daytime flight and late night/early morning flight hours

International departures total

46

1
118

(As of November 2017)

２. Summary of Tokyo International Airport (Haneda)(6) Summary of Tokyo International Air Terminal Corporation
1. Company Name Tokyo International Air Terminal Corporation

Company History
April 2005

Japanese government announced policy to launch businessprojects in the international flight zone of Tokyo International
Airport
PFI approaches to be implemented revealed based on division ofbusinesses in international flight zone into 3 categories:
passengers, freight and apron

July 2005

Formation of “HKT Group”

April 2006

“HKT Group” selected as project candidate

June 2006

Tokyo International Air Terminal Corporation established as a
special purpose company (SPC)

July 2006

Entered business contract with Japanese government

May 2008

Construction of international passenger terminal launched

October 2010

Commenced operation of Tokyo International Airport
international passenger terminal

November 2012

Construction to expand international passenger terminal andother areas commenced

March 2014

Began temporary operation of expanded section of international
passenger terminal building

August 2014

Began operation of “Haneda Nihonbashi Bridge” “TIAT SKY
HALL” and other facilities

September 2014

Began permanent operation of expanded section of international
passenger terminal building
Began operation of exclusive gates for hotel wing and business
jet

October 2015

Increased China flight routes during daytime hours by 12 flights

January 2016

Launched urban duty-free shop drop-off counter service

October 2016

Increased North America flight routes during daytime hours by
10 flights (including migration from late night and early morning
hours)

47

2. Date Founded

June 20, 2006

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

9.0 billion 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.)

7. Composition of Shareholders
Japan Airport Terminal Co., Ltd. (38.78%)
Japan Airlines Corporation (19.36%)
ANA HOLDINGS INC. (19.36%)
Narita International Airport Corporation(4.5%)TEPCO Energy Partner, Incorporated (3.5%)
SECOM Co., Ltd. (3.0%)
Tokyo Gas Co., Ltd. (3.0%)
Keihin Electric Express Railway Co., Ltd.
(2.0%)
Tokyo Monorail Co., Ltd. (2.0%)
NTT Data Corporation (1.5%)
Development Bank of Japan Inc. (1.0%)
Mizuho Bank, Ltd. (1.0%)
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
(1.0%)
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.
Note: Created by the Company based on material
from the Tokyo International Air Terminal Corporation.

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