Japan Airport Terminal

Japan Airport Terminal Group

Integrated Report 2023

Japan Airport Terminal Co., Ltd.




AT 70, JAPAN AIRPORT TERMINALHEADS FOR A NEW GATEWAY

Haneda Crossing: where possibilities intersect
The year 2023 marks our 70th anniversary.
By melding our Group companies and their employees, we plan to turn the diversity they
represent into strengths that will build for us a distinctive future.
Our logo—a stylized capital letter H—represents our sense of unity in diversity. The overall
dynamic design of the letter communicates to the world the Japan Airport Terminal Group’s
future vision.
The letter’s two stem lines represent our earnest, direct gaze toward the people visiting our
airport. Meanwhile, the crossbar evokes the feeling of gliding and flying into the future.

CONTENTS
The future we seek
05
07
11

Our Group philosophy andlong-term vision
Message from the CEO
Message from the COO

Value Creation Story
15

Our history of value creation

17

Value Creation Process

19

Capital realizes value creation

Medium-term Business Plan

01

21

External environment awareness / Goals to be attained by 2030

23

Medium-term business plan as part of our overall strategy

25

Earnings based strategy

27

Management strategy

29

Sustainability strategy

31

Progress attained by business divisions

Special Feature

Corporate governance

33

Enhancing airport terminal functions

63

Messages from Outside Directors

35

terminal.0 HANEDA

65

Corporate governance structure /37

Realizing retail business unique to airports

Organizational chart / Organizations
involved in corporate governance /Materiality Initiatives
39

Key issues and KPIs

41

Measures to combat climate change

45

Effective use of limited resources

47

Development of a safe, comfortable andadvanced airport

53

Contribution to local and regional

Skills matrix for officers
67
69

explain to the public how the Group is working
to solve societal issues and improvesustainable corporate value through its
business.
In preparing this report, we have referred

Officer compensation plan

Foundation, and the Guidance forInquiries regarding this report should be addressed to:

the Ministry of Economy, Trade and Industry.

Sustainability Management Office
Japan Airport Terminal Co., Ltd.
Terminal1, 3-3-2 Haneda Airport, Ota-ku, Tokyo 144-0041
E-mail:sustainability@jat-co.com
Tel.: 81 + 3-5757-8064

Information
disclosure system

Cross-shareholdings / Policy on takeover
Executive Team55

Human Resource Development

73

Financial and Non-financial Highlights

59

Promotion of diversity and inclusion and75

Ten-Year Financial Summary

respect for human rights

77

Corporate Data / Stock Information /Strengthening of risk management

Scope

Report 2023 was produced and published tohttps://www.tokyo-airport-bldg.co.jp/en/corporate_profile/group.html

Data

Promotion of fair business activities /The Japan Airport Terminal Group’s Integrated

Evaluating the Board’s effectiveness /communities

61

Editorial policy

This report covers the Japan Airport Terminal Group
Note: Affiliated companies are listed at the URL below.

bids / Shareholder and investor relations
71

Reporting period
This report covers FY2022 (April 1, 2022 to March 31, 2023)
Note: Earnings results cover FY2022, but some data
include activities prior to March 2022 and after
April 2023.

Group Companies

Forward-looking statements
This report contains forward-looking statements andprojections based on plans. Please be aware that
actual results and achievements may differ.

to the International Integrated Reporting
Framework, recommended by the IFRSCollaborative Value Creation formulated by

Financial information
Website:Investor relations

Sustainability
Website:Sustainability

https://www.tokyo-airport-bldg.co.jp/en/ir/ https://www.tokyo-airport-bldg.co.jp/en/sustainability/
https://www.tokyo-airport-bldg.co.jp/en/ir/ https://www.tokyo-airport-bldg.co.jp/en/sustainability/
https://www.tokyo-airport-bldg.co.jp/en/ir/ https://www.tokyo-airport-bldg.co.jp/en/sustainability/
Integrated report https://www.tokyo-airport-bldg.co.jp/en/sustainability/
IR materials and stock information, etc.

Environment, social, and governanceJapan Airport Terminal Report 2023

02

At a Glance
Outline of Business

Builder, manager, operator of Haneda Airport terminals

03

Awarded 5–Star Airport Rating

Breakdown of sales by business

Under the Airport Law, the Japan Airport Terminal Group has been

designated an airport functional facility operator at Haneda Airport.

Food and beverage¥8,452 million

It operates and manages Terminals 1, 2, and 3, as well as parking
lots P1, P4, and P5. The Group not only rents out office space, but

Sales:

also sells goods (including food) at airport stores, operates
Merchandise
sales¥41,317 million

restaurants, produces and sells in-flight meals, and provides travel
services.

¥113,050
millionFacilities management¥63,280 million

In addition, we provide dining services. These include: the saleof goods; production and sale of in-flight meals at base airports

Role of administrators at Haneda Airport

such as Narita International Airport; and the leasing of real estate

Japanese National
Governmentby using Company-owned land outside the airport.

(Minister of Land,
Infrastructure, Transport
and Tourism)

Besides these services, we leverage the experience we havegained over the years to deploy new businesses, both inside andoutside airports.

Installation / management

Japan Airport Terminal Group

Airport facilities(basic facilities)･ Runways/Taxiways/Aprons･ Control facilities
Passenger terminals

Haneda Airport
passenger traffic:

59.87

millionpeopleDomestic flights: 53.06 million passengers

International flights: 6.8 million passengers* FY2022 results

As an air gateway to Japan, we will continue aiming
to be an airport that is trusted and chosen bycustomers from around the world, as well as thosein the aviation industry.
To date, Japan Airport Terminal has been
awarded the world’s highest standard 5-Star
Airport Rating for nine straight years in the World
Airport Awards from the London-based Skytrax
international air transportation rating organization.
In addition, we have been ranked first in theworld for eight consecutive years in the airport
cleanliness category, as well as number one in theworld for 11 consecutive years in thecomprehensive domestic airport evaluation
category.
Then we have also been ranked number one in
the world for five consecutive years in the Persons
with Reduced Mobility (PRM) category, which
includes the elderly, disabled, and injured people.

Outline of Business
Haneda Airport Wharf

Group companies (19 consolidated companies)

Construction, management, andoperation of passenger terminals

Facilities Management

The Royal Park Hotel Tokyo Haneda
P5 Multilevel Car Park･ Tokyo International Air Terminal Corporation (TIAT)･ Japan Airport Techno Co., Ltd.
･ Haneda Airport Security Co., Ltd.

Real estate rental･ Sakura Shokai Co., Ltd.

Management and operation of
parking lots

･ Haneda Passenger Service Co., Ltd.

Passenger services･ Big Wing Co., Ltd.
･ Japan Airport Ground Handling Co., Ltd.
･ Haneda Future Research Institute Incorporated

Terminal 3･ Haneda Airport Enterprise Co., Ltd.
･ International Trade Inc.

Merchandise Sales

Operation (including commissioned
operation) of retail andwholesale stores･ Japan Airport Logitem Co., Ltd.
･ Japan Airport Terminal Trading (Chengdu) Co., Ltd.
･ Hamashin Co., Ltd.
･ Japan Duty Free Fa-So-La Isetan Mitsukoshi Co., Ltd.
･ Air BIC Inc.

P1 Multilevel Car Park
Terminal 1P4 Multilevel Car Park

1

Terminal

Terminal 1 opened in 1993. In 2018, we
opened THE HANEDA HOUSE and then, in
2019, renovated the arrival lobby and thefirst basement of the building, the latterarea providing a place where ourcustomers can relax.

2

Terminal

Terminal 2

Terminal 2 opened in December 2004. We
provide a comfortable space there for ourcustomers that includes an open terrace
with a range of chairs and tables brought
over from around the world. Our StardustStage, lit up by 4,000 LED lights, offers aspace from which to enjoy night views andrunway lights.

Food and beverage

Operation of restaurants
Manufacture andsale of in-flight meals

In March 2020, we provided facilities for use byinternational flights, thus strengthening our connecting
services between domestic and international flights, andproviding greater customer convenience.

3

Terminal･ Tokyo Airport Restaurant Co., Ltd.
･ Cosmo Enterprise Co., Ltd.
･ Lani Ke Akua Pacific, Inc.
･ Kaikan Kaihatsu Co., Ltd.

Terminal 3 opened in 2010 with the
expansion of international flight slots. In
addition to welcoming customers withtraditional Japanese hospitality, we have
implemented the automated passenger
procedure FAST TRAVEL. This is expected
to reduce personnel costs, improve
traveler satisfaction, and ensure a smoothboarding process.

Japan Airport Terminal Report 2023

04

The future we seek

Customer Satisfaction Philosophy

Peace to those who enter, hail to those who leave

PA X I N T R A N T I B V S S A LV S E X E V N T I B V S
This Latin inscription—often translated as “Peace to those who enter, good health to those who depart”—isPhilosophy

Harmony between the Business and the Society

Business Policy

Establish absolute safety in passenger terminals.

Philosophy
Customer
Satisfaction Philosophy

The Japan Airport Terminal Group has adopted the inscription as its customer service (CS) philosophy, as wework to improve our services to ensure the satisfaction of all those using Haneda Airport.
Each year, the Group’s

Operate passenger terminals stably and efficiently.

CS award winners visit

Business Policy

Reinforcement of the corporate structure and improvement of the combinedcompetence of group companies.

Rothenburg, in orderto keep the philosophy
front of mind.

Sustainability Basic Policy

To Be a World Best Airport- To be the world’s most respected airport, pursuing the satisfaction of all stakeholders -The Japan Airport Terminal Group, as a purely private company engaged in construction, management andoperation of highly public passenger terminals, has adopted a basic philosophy of “Harmony between the Businessand the Society.”
To realize “To Be a World Best Airport - To be the world’s most respected airport, pursuing the satisfaction of
all stakeholders -,” we will promote sustainable business activities while contributing to the development of thesocioeconomy under the Sustainability Basic Policy.

airport.
It reflects our determination to continue pursuing stakeholder satisfaction and, in the process, tomake Haneda Airport the most highly respected and No. 1 in the world.
This is not about the number of passengers or the size of the terminal. It is about being No. 1 inCustomers

as to fully satisfy our functions; and putting more energy into customer-oriented services rather

Local
Communities

In partnership with surrounding communities, we
not only contribute to the growth of the Tokyo
metropolitan area, but also enable domestic air
mobility in cooperation with airports throughout
the country as the hub of the aviation network, andaim to co-exist and co-prosper with local
communities throughout Japan.

GlobalEnvironment

In moving toward a decarbonized society and/or aresource-circulation society, we aim to reduce theenvironmental burden associated with businessactivities through, for example, promoting measuresagainst global warming and 3R, and realize
sustainable airports in harmony with the global
environment in cooperation with stakeholders.

than architectural dynamism.
Based on this long-term vision, we seek to be an airport that is well-remembered by ourcustomers.
Employees

Our stakeholders

Partners

An airport capable of symbiotic development.

Employees
A Company where people can work with pride.

An environment-friendly airport.

CommonCustomers

An airport they want to visit again.

Local Communities

An airport that contributes to community development.

Shareholders/
Investors

We endeavor to be transparent in disclosing
information on a timely basis and increase
corporate value from a long-term perspective,
based on engagement with shareholders andinvestors.

Having ensured absolute safety, we properly manage risks that may pose a threat to business activities. Also, we routinely
promote disaster prevention measures, etc., and business continuity management so that, even in emergencies, we canensure safety and continue operating the passenger terminal, which is public infrastructure, without delays.

Shareholders/Investors
Sustainable growth attained through efficient management.

CommonData

Global environment

We give consideration to physical and mental
health and security of officers and employees,
and strive to develop personnel and improve
work environments so that they can work witha motivation while exercising a wide range ofabilities they have in various fields associatedwith the airport.

Corporate governancePartners

Together with partners, such as airline
companies, tenants and subcontractors, andthe national government, we promote thedevelopment of safe and secure airports andopen innovation toward mutual growth.

Materiality Initiatives

terms of, for example, the way we combine ingenuity and wisdom; paying attention to detail, so

Serving as an air gateway to Japan, we strive
to operate customer-centered passenger
terminals (convenience, comfortableness andfunctionality), continuously work at improving
services and operations while actively utilizing
digital technologies, and provide the best
hospitality.

Special Feature

The Japan Airport Terminal Group has as its long-term vision the goal of being a world best

Sustainability Basic Policy

Medium-term Business Plan

Long-term Vision

Value Creation Story

Operate passenger terminals for the benefit of customers (for convenience,
comfort and functionality).

engraved on the Spital Gate, in the well-preserved medieval town of Rothenburg ob der Tauber, Germany.

The future we seek

Our Group philosophy and long-term vision

We comply with domestic and overseas laws, regulations and rules, and carry out business honestly and fairly while taking
human rights into consideration.

Disaster prevention measures, business continuity, legal compliance, consideration for human rights, etc.

05

Japan Airport Terminal Report 2023

06

The future we seek

In order to ensure that those goals are met, I havealways aimed to forge ahead without ever forgetting
Airport, in order to ensure that those goals are met.
The emphasis that is increasingly being placed onsustainability management has been firmly upheld byvalue to a changing society.

enterprise, the Company should do business as it

world stayed home. Here in Japan, one could see frombelieves is right. Executives and employees should takeone end of the Haneda Airport lobby to the other.

on challenges unconstrained by conventionalframeworks, and work to balance public good andbusiness success.
Our long-term vision, for Haneda Airport to be a

At the same time, Japan Airport Terminal has

world best airport, remains unchanged and buttresses

experienced long-term steady business growth. Thenthe Company by serving as the code of conduct for all

there was COVID-19.

employees. Our vision does not refer to scale of facilities
but, rather, to people-oriented services.
According to airports around the world rated by theother types of virtual reality. But from now on, with the

UK-based Skytrax Certified Airport Rating program,worst of the pandemic behind us, companies that lackratings between 1-Star and 5-Star are awarded for up

ambition and a desire to constantly evolve will not

to 800 customer-facing areas of airport product andsurvive.

service. Ratings are based on the front-line customer

spirit and running an in-house promotion called Plus
One. It aims to change staff awareness and behavior byexperience on the end-to-end journey through anairport.
In 2023, the Company has been ranked in the top

re-evaluating the essential job of airports, making

three in the world, for the fifth year running, in the

improvements, taking on new challenges to provide

comprehensive airport evaluation category, and has

unprecedented value, and considering what one might

been awarded first place in the world in three

do to take the next step forward with a Plus One

categories.
We ranked first, for the fifth straight year, in theJapan Airport Terminal Co., Ltd. was established in

had opened for business and after such operations had

Akiyama often spoke of thinking philosophically.

World’s Best PRM & Accessible Facilities category,

1953, using only private capital to construct and thenbeen observed at airports overseas. This aspect of our

Because the Company was set up at the behest of thewhich evaluates passenger terminals that excel inmanage the passenger terminal at what was thenbusiness is, I believe, emblematic of our frontier spirit.

government, we were influenced by government

providing support to customers who require assistanceknown as Tokyo International Airport (generally

Right from the start, we ran not only airport
terminal retail stores, but also many restaurants.

our 70th anniversary, and the successful expansion of

Akiyama’s idea was that, by running such businesses

our role from facility management and operations to

directly, even modest profits would help reduce theinclude product sales as wells food and beverage

usage fees for the airport facilities and space thatbusinesses.

airlines required to operate.

Toru Akiyama, our first president, was highly

Datareferred to as Haneda Airport) . The year 2023 marks

His concept of operating a public airport using thecreative, ambitious, and imbued with a frontier spirit. So

best qualities of a private company has been handed

it was that airport duty-free stores—currently a major

down through the years and become our basic

source of revenue—were introduced two years after wephilosophy: balance public good and business success.

Corporate governancemindset.

Materiality Initiatives

Thus, we are going back to the roots of our founding

Special Feature

Having relied heavily on revenue from real facilities

Medium-term Business Plansubsequent state of emergency, people around theand stores, we fell far behind in using e-commerce and07

cultures intersect. I believe that our role is to provide

policies. Nevertheless, he maintained that, as a private

economic growth, the asset bubble era, and since then.

A private corporation to supports Haneda Airport as a junction between
Japan and the world

the movement of people, industrial enterprise, andFollowing the outbreak of the pandemic and theimmediate post-war years, the period of high national

Chairman and Chief Executive Officer

Currently, Haneda Airport represents a place where

A Plus One mindset

The airline industry grew significantly during the

Isao Takashiro

pervades our basic philosophy.

Value Creation Story

Balancing public good andbusiness success to create
a top airport

the vision and ambition of my predecessors for Haneda

our Company over the past 70 years, and even

The future we seek

Message from the CEO

Skytrax Award Plaques

Japan Airport Terminal Report 2023

08

The future we seek

Message from the CEO

We were also awarded first place, for the eighth

Clearly, our excellence has been recognized by
global standards in terms of services rendered byconsecutive year, in the World’s Cleanest Airports

people. For this reason I believe Japan Airport Terminal

category, which evaluates airport cleanliness andhas the potential to become the world’s leading airport

comfort.

company by leveraging what it has experienced
throughout the pandemic.

How to boost
the appeal of Haneda
Airport

Value Creation Story

Then we again garnered first place, for the eleventh

The future we seek

during transportation.

year in a row, in the World’s Best Domestic Airport
category.

In recent years, we have seen global efforts to build

In addition to collaborating with airlines to consider

social systems that support sustainable societies andways to save labor and streamline airport operations, incounter the effects of climate change. Not only

2022 we started an industry–academia collaborative

countries, but also companies, need to prepare for andresearch and development (R&D) project, involving The

respond to the unexpected. Those who manage

University of Tokyo and a team of young Japan Airport

companies need to identify major changes, think ahead

Terminal employees.

about what measures to take, and adapt existing

In January 2024, we plan to set up an open
innovation facility, terminal.0 HANEDA, within HANEDA

weeded out.

INNOVATION CITY, a large commercial and business

Nevertheless, in this regard there are limits to whatcomplex directly connected to a train station that is one

a company can come up with and tackle on its own. So I

stop from Haneda Airport Terminal 3. At the facility, we

hope to see us absorb and utilize appropriate

will conduct R&D while collaborating cross-sectionallyknowledge through active exchanges and cooperativewith specialized industries.

systems with other industries.

It is my belief that robots and AI should be used, as

retain the appeal we have developed with ourthey reduce the need for human labor in facility

customers, we plan to stress amenity and convenience,

operations. However, we intend to remain awhile offering improved functionality, efficiency, andpeople-centered business, albeit keeping in mind the

comfort. To this end, we will research areas such as

strengths of machines.

stress reduction at security checkpoints and the use ofThis is because I am convinced of the value of aadvanced robots. Later, we will introduce those services

company built on a core of talented and ambitiousthat are shown to be commercially viable.

people, who can empathize with customers andcolleagues alike.

Special Feature

methods, since enterprises that fail to do so will be

To provide the highest quality services, in a bid to

Medium-term Business Plan

Open innovation

Aiming to be an advanced airport that provides enjoyment
The Japan Airport Terminal Group aims to become athe city center, its role and importance as Japan’s

leading airport company by creating corporate value

gateway will not change. But, as the site’s development

through win-win relationships with internal andprogresses, huge investments will be required if theexternal stakeholders. We have already earned ainfrastructure is to meet the needs of a sustainable

reputation for being a clean and user-friendly airport,society.

and one of our next goals is to create elements within

The challenge is financing the investments. We canendorse our activities as we work to balance public

our airport facilities that make people go to Haneda
Airport not just to fly, but for enjoyment as well.
Haneda Airport has limitless potential, but it is up togood and business success, and to achieve our goal of

us to realize that potential. All our executives andbeing a World Best Airport.

employees are self-starters, who seek to make Haneda

We hope to enjoy your support and implement oura pioneering airport of the future, characterized by amedium-term business plan, which should lead torange of values. We look forward to enjoying yourdiversified financing.

continued support.

Corporate governanceonly hope that our stakeholders will understand andMateriality Initiatives

Because Haneda Airport is conveniently located close to

Data

HANEDA INNOVATION CITY where terminal.0 HANEDA is located.

09

Japan Airport Terminal Report 2023

10

The future we seek

Response to a changing external environment
I get a visceral sense that COVID-19 has triggered a change in

longer being asked by the government to stay at home.

general awareness regarding sustainability.

Nevertheless, with other factors—such as geopolitical risks—

In response to climate change, we—as an enterprise thatnow having come into play, resource prices continue to rise.

constructs, manages, and operates passenger terminal

Since costs thus are bound to rise as passenger traffic grows,

buildings—must maintain both our efforts to decarbonize ourwe intend to collaborate with our business partners in a bid toCompany, and our focus on ensuring safety and security. Thiscut costs.

is particularly important, given that some experts have said

Meanwhile, as domestic and international passenger

the era of global boiling has arrived, and that the damage

traffic recovers, we find ourselves facing personnel shortages.

caused by natural disasters is increasing.

There is a particularly severe shortage of staff to support

In line with our management policy statement
guaranteeing the absolute safety of our passenger terminal,

passenger exit and entry, such as through ground handling*and security guard duties.
We are working with airlines to welcome back those whoJapan Earthquake in March 2011, we had readied supplies inwere forced to leave their jobs due to the pandemic. Moreover,excess of the number of customers we generally serve; put inin response to both our shortage of personnel and that ofplace systems to take in disaster victims; and already had

tenant companies, we continue to study how automation andterminal facilities designed to withstand earthquake anddigital transformation at airport facilities might result intsunami damage.

greater efficiency and be labor saving.
Rising prices also are placing a heavy burden on ourother equipment against flooding, which can be caused by

employees’ lives. Our business performance has been

torrential rains such as we have had recently.

persistently disappointing, but I intend to raise wages andWe are confident that Tokyo International Airport

increase regular base pay.

work closely with those on the ground to respond adequately

Nobuaki Yokota
President and Chief Operating Officer

to any given disaster.

* Ground handling: A series of ground support operations performed from thetime an airplane lands at the airport until the next flight. This includes
guiding aircraft, maintaining cabins, providing information to passengers,
loading and unloading baggage and cargo, refueling, etc.

COVID-19 has been redesignated a Class 5 infectious
disease, which means that members of the public are no

In 2016, the Japan Airport Terminal Group announced afurther expansion of facilities would require us first to work

long-term vision, namely, to be a world best airport. In otherclosely with the Ministry of Land, Infrastructure, Transport andwords, the Group intends to deliver utmost satisfaction to all

Tourism as well as with airlines.

It has also resolved to become one of the world’s leading

consecutive terms, we continue to appeal to ourglobal economy began emerging from the effects of theemployees to persist in forging ahead for the day when

COVID-19 pandemic. In the second half of fiscal 2022, I

our customers return.

got the sense that the business environment of Japan

In fiscal 2022, we held such events as local produce

Airport Terminal was finally changing. Nationwide travel

and tourism fairs, rolled out limited-time stores tosupport through incentives had resumed and there wascoincide with international sporting events, and did oura significant relaxation of entry restrictions.

best to reduce costs. It was then that we began to see
signs of improvement in our business performance.

With Japan’s population continuing to decline, and the airline

terminal buildings. Further, the Group will increase theindustry finding it increasingly difficult to enjoy growth infunctionality and user convenience of all terminals buildings, indomestic demand, attention has turned to inbound tourism.

light of the demand for more flights, as reflected in the

Since the Company has partially upgraded Terminal 2 andgovernment’s goal of attracting 60 million international

made it possible for international flights to arrive and depart, it

visitors to Japan by 2030.

seems inevitable that greater emphasis will be placed oninternational flights. In addition, we expect inboundEffective use of limited land, existing facilities
The key point is how to boost the airport’s functionality as an

Recognizing the important role Haneda Airport plays as ainternational facility by effectively using the limited land

hub for domestic flights, we will meet the needs of those who

available and existing facilities.

use it as a starting point to visit regional cities, thereby

To make Haneda Airport more user-friendly to all, we plan

pre-COVID levels. Soaring resource prices haveto enhance our barrier-free access and adopt universal design

increased costs, impacting our Group’s performance.

for all signage.

Although we have not recorded a profit for threeconnections to domestic flights to accelerate.

But it would be hard to continue expanding the airport,
given the limited amount of land available. Over the years, it

contributing to regional revitalization.
The fiscal 2030 goal of the Japan Airport Terminal Group is

Data

However, even now, business has yet to reach

Functioning as an international facility

companies that builds, manages, and operates passenger

Corporate governanceIn fiscal 2022 (April 1, 2022 to March 31, 2023), theMateriality Initiatives

Enhancing terminal functions on the path to 2030

its stakeholders.

The difficult business environment is changing

Special Feature(generally referred to as Haneda Airport) has one of theworld’s best crisis management systems, and will continue toMedium-term Business Plan

we have long been well prepared. Even before the Great East

Further, we have taken steps to safeguard electrical andValue Creation Story

Our officers andemployees work together
with a pioneering
spirit to ensure we create
an airport that is peopleand eco-friendly

The future we seek

Message from the COO

to be an airport terminal operator that is trusted by all
stakeholders and provides an advanced, human- andeco-friendly airport.

has increased in size, currently covering 1,522 hectares. Any

11Japan Airport Terminal Report 2023

12

The future we seek

Message from the COO

world. There are four areas of focus: providing world-leading

and bearing in mind the desire that the airport should be

hospitality, ensuring the airport is safe and secure, delivering

thought of as the country’s premier gateway, we are working

journeys that are stress-free and pleasant, and making

to create a model that will be recognized as the best in the

Haneda an eco-airport.

The end point of our medium-term plan is our vision for 2030.

product achieves inside the airport, we are acting as a sales

reform and innovation; to grow, by means of development andagent for, and marketing, Radi-Cool to other airports. We are

evolution; and to expand, by facing challenges.

also expanding sales channels to hospitals and other facilities.
In addition, we are implementing initiatives that benefit
from the potential of Haneda Airport. It is used as a venue forlarger number of international visitors who will visit Japan bydemonstration experiments, with various proving trials

2030. But, during the pandemic, we had an unprecedented

already having been conducted there. The Haneda Robotics

experience: Airports ceased to function.

Lab at the airport provides robot developers with an

Against this backdrop and in order to sustain theopportunity to conduct demonstration experiments within the

Company, all divisions are now studying how to generate

airport, and allows airport users to experience robots up close.

revenue from the perspectives of change, growth, andFurther, the lab identifies problem points and shares its

expansion.

findings. In the near future, we plan to open terminal.0

material. It is currently being used in our passenger terminal

HANEDA, a facility where we will pursue a new type ofterminal management.
In addition, as the number of tax-free (consumption tax-

passageways. The product is environmentally friendly and canand duty-free) stores is increasing in Tokyo, the duty-freelower room temperatures without the use of energy. It does sosystem (airport-style duty-free outlets) is losing its priceby reflecting sunlight and radiating indoor heat using radiativeadvantage. For this reason, we plan to build an

cooling, which is a natural phenomenon.

e-commerce-linked travel retail model to capitalize on thestores we have at the airport. This we can do, for example, byoffering an online pre-ordering service for duty-free items.
Prior to COVID-19, it may have been enough to focus on
Airport can be used as a site for various demonstration
experiments, the results of which can be put to use at airports
across the country. By making effective use of Haneda
Airport’s advanced role, we will be in a position to compete

HanedaRobotics Lab

globally in the areas of hardware and software.

of timber, sourced from sustainable forests, will help revitalize
local economies.
When it comes to solar power generation, there are limits

Contributing to Regions and Communities

Airports cannot function without the understanding of thepeople who live in the vicinity and in areas over which planes
fly. To make Haneda Airport a facility not to be used just by

to how many panels can be installed due to the need to ensure

those flying in or out, but by all people, I believe it is essential

the safety of aircraft taking off and landing. In addition,

to build relationships of trust with everyone.

because solar power generation alone cannot meet theI also am convinced that we should collaborate with

airport’s energy needs, we must adopt bold methods andairports across the country and contribute to the revitalization

technologies, such as the use of hydrogen.

of local regions. Haneda Airport has a record of hosting special

However, reducing CO2 emissions is not something thatevents featuring exhibitions of products from all over the

we can tackle alone, so we shall have to engage in dialog withcountry, so we are considering setting up permanent stores

the Tokyo International Airport Eco-Airport Council, whichthat sell some of Japan’s famous products. This will allow us tocomprises airport administrators and airport-related

spread the word about the allure of regional destinations tobusinesses, and implement measures accordingly.

people in Japan and overseas. Since collaboration with local
areas is an opportunity for mutual new business creation, we

Human Resources

will continue to offer our Group’s expertise to, and build

The company is currently promoting activities based on a Plus

relationships of trust with, people in local regions andOne mindset, namely, when taking action based on one’s

communities.

ideas, it is crucial not to fear failure. Often one doesn’t know if
something will work out until one has tried it. And if it doesn't

We will work to achieve the key performance indicators andwork, one can always go back to the drawing board. I want togoals associated with the materiality established in our

see our employees take on challenges with that same mindset.

sustainability plan, as well as confirm our results. To ensure

The roots of Japan Airport Terminal lie in infrastructure,that our determination is more than simply words, the Group’s

and the Group’s role is the construction, management, andexecutives and employees will be heading in the same

operation of terminal buildings. Therefore, we recognize that

direction.

Materiality Initiatives

Japan, but from now on, competition will be global. Haneda

lighting within facilities, and using timber structures. The use

Special Featurebuildings on glass surfaces, boarding bridges, and connecting

about regional destinations

Medium-term Business Plan

manage airport facilities to meet the needs of the anticipated

One example is Radi-Cool, the world’s first radiant coolingand abroad,In light of the roughly 15% reduction in temperatures theIt has three strategic stages, namely: to change, through

The Company has been working to effectively utilize andSpreading the word, in Japan

Value Creation Story

Attaining our goals through change, growth, and expansion

The future we seek

Under our medium-term business plan (FY2022–FY2025)

human resources are our most important capital, and plan totrain our terminal building operators who are engaged in

In May 2023, the Company announced its "Medium-Term

Decarbonization

Sustainability Plan." Given its basic philosophy of "Harmony

The Company discloses information based on the

between the Business and the Society," it is only natural forrecommendations of the Task Force on Climate-related

the Japan Airport Terminal Group to respond to the demands

Financial Disclosures in 2023.

of society, and we recognize that a sustainability perspective is

The Company has announced an extremely challenging
goal: its plan to reduce, by 2030, CO2 emissions 46% fromGroup's determination to engage in management centered on

2013 levels. Doing so is a formidable challenge; today, Haneda

sustainability, in order to achieve our vision of becoming a

Airport is nearly double the size it was in 2013, while the“human- and eco-friendly advanced airport in 2030.”

amount of energy it uses has also increased.

Overseas, meanwhile, airports have introduced a scheme
called Total Airport Management. This connects processes
and systems throughout an airport, and allows data-based
decisions to be made.
Given that our long-term vision is to be a world best
airport, we believe that, in the future, it will be important tocultivate human resources based on global standards, and todevelop the world’s best terminal building operators. In
addition, since our sales people need to use digital marketing,
we will cultivate human resources with the relevant IT skills.

Dataessential to corporate management. Our plan expresses our

security, providing information, and sales.

Corporate governance

Undertaking sustainability-driven management

In light of future facility expansion plans, we will continue
implementing such measures as constructing net zero energy
buildings, installing solar panels, switching to 100% LED

13Japan Airport Terminal Report 2023

14

Value Creation Story

Tokyo International Airport, the Company’s business base, was returned to Japan in 1952, after having been taken over by theUnited States at the end of World War II. The original name, Tokyo Airfield, then was changed to Tokyo International Airport.
To restore its status as a gateway airport, Japan urgently had to expand the facilities to make them suitable for an international
airport capable of serving Japan’s capital, Tokyo. Japan Airport Terminal Co. Ltd. was established to meet this need, as well as toconstruct, manage, and operate terminal buildings using private capital provided by leading companies in Japan’s financial sector.
Based on the philosophy of harmony between the business and the society, for more than 70 years since its founding the Grouphas been responding to growing aviation demand. It has engaged in its backbone business of expanding and renovating passenger
terminal buildings; running ancillary businesses, such as airport duty-free shops; as well as operating merchandise stores and foodand beverage outlets. We will continue to respond to the demands of the times, and work to create attractive airports.

The Frontier spirit
Since its founding in 1953, the Japan Airport Terminal Group has created many first-of-the-kind services in Japan, to meet the needs ofcustomers and businesses as they adapt to changes over time. This frontier spirit remains an intrinsic part of the Group’s makeup.

Value Creation Story

1953

Japan’s first duty-free store

2004

1955

2020

Terminal 2commences
operation.

Haneda Airport Terminal
opens.

Terminal 2 (a private financeinitiative project) commences
operation.
Terminal 3’s expanded section
opens.

It develops into one ofTokyo’s most popularspots.

The international terminal isdeveloped for the Tokyo
Olympics.

250,000

2010

Terminal 1
commences
operation.

Passenger
traffic

Passenger traffic reaches the 10
million mark.

Passenger
traffic

More than 40 million
passengers

Sales
Operating profit/loss

50,00010,000

Domestic flights:
31,504,000 passengers
International flights:
702,000 passengers

Domestic flights:
13,750,000 passengers
International flights:
6,251,000 passengers

More than 5 million
passengers

More than 1 million
passengers

Domestic flights:
50,416,000 passengers
International flights:
824,000 passengers

More than 30 million
passengers

More than 20 million
passengers

Passenger
traffic

More than 50 million
passengers

20,000

Domestic flights:
60,696,000 passengers
International flights:
384,000 passengers

Passenger
traffic

Passenger
traffic

Passenger
traffic

Operating profit/loss(million yen)More than 60 million
passengers
Passenger
traffic

Domestic flights:
64,639,000 passengers
International flights:
15,642,000 passengers

Corporate governanceDomestic flights:
39,360,000 passengers
International flights:
828,000 passengers

100,000

Domestic flights:
62,163,000 passengers
International flights:
10,581,000 passengers

Passenger
traffic

The international arrival
terminal commences operation.

150,000

More than 70 million
passengers

More than 80 million
passengers

Materiality Initiatives

1970

200,000

Passenger
traffic

Terminal 3 (a private
finance initiative project)commences operation.
Terminal 3’s expanded
section opens.

The terminal building morethan doubles in size.

Special Feature

1993

1964

Sales (million yen)Japan’s first rental car business is launched.

Medium-term Business Plan

Japan’s first airport limousine bus

Japan Airport
Terminal Co., Ltd.
established withprivate capital.

The future we seek

Our history of value creation and future with Haneda Airport

Domestic flights:
3,379,000 passengers
International flights:
1,756,000 passengers

Domestic flights:
1,030,000 passengers
International flights:
490,000 passengers

Data

1953

Total floor area

18,803m2

15

1960

1970

Total floor area

56,935m2

Total floor area

109,300m2

1980

1990

2000

Total floor area

311,358m2

Total floor area

300,000m2

2010

2020

Total floor area Total floor area Total floor area Total floor area Total floor area

482,700m2 505,657m2

702,857m2 713,357m2 790,357m2-50,000

Japan Airport Terminal Report 2023

16

Value Creation Story

Under its basic policy to foster public–Group harmony byleveraging its strengths to provide value, the Japan Airport
Terminal Group is helping solve social issues as it aims with its
stakeholders to attain sustainable growth.

Domestic
population
decline/low birthrate and aging
population
Growth in Asia

Climate change

Innovation
Lifestyle changes

Natural disasters/
pandemics

Solutions tosocial issues
A Society where
people can movesafelyin a
comfortable way

Japan Airport Terminal Group

Risks and opportunities for management activities

Management Resources

Creating impact

Management activities
Philosophy:

Human andintellectual capital

Harmony Between the Business and the Society● Frontier Spirit(Application of new technologies
such as DX and robotics)

Business areas:

Merchandise
sales, foodand beverage

Facilities
management

Special Feature● High level of expertise andknowledge related to overall
airport operations

Newbusiness,
expertisebusiness

Manufacturing capital

Realization of vision (external outcome)Three Strategy Pillars

Social capital

Financial capital● Solid financial foundation

Establishing a foundation for regrowth

Measures to combat climate change

Achieve desired outcomes through thefundamental improvements made during
the COVID-19 pandemic

Effective use of limited resources
Development of a safe, comfortable, and advanced airport
Contribution to local and regional communities

Growth of airport business
Capture future airline demand

Human resource development
Promotion of diversity and inclusion, and respect for human rights

Expansion of earnings basePromotion of fair business activities

Broaden earnings base by developing
business in new fields

Results ofmanagement
activities(Output)

Strengthening of risk management

World-leading hospitality
Pleasant, stress-free journey
Safe and secure airport

Corporate governance

Results of management activities (Output)(internal outcomes)

Ensuring stability of earnings
and financial base
17

Data

Strengthening our management resources

Eco-airport
Corporate governance● Efficient resource utilization

Investment ofmanagement
resources(input)1
2
3

Becoming one of the mostadvanced,human- andeco-friendly airport by 2030

Materiality

Materiality Initiatives● Construction of user-friendly
terminal buildings

Natural capital

Medium-term Business PlanSociety

Sustainablegrowth of a
resilient aviation
network

Value Creation Story

Social issues/changes in the social environment● Strong relationships withbusiness partners● Ties to regions and communities

Japan wheretravelers wantto visit

Decarbonizedsociety

The future we seek

Value Creation Process

Grouping human resources into professional groups,
maximizing organizational strength
Japan Airport Terminal Report 2023

18

Value Creation Story

Since its founding, the Japan Airport Terminal Group has accumulated capital—the source of its strength—by
responding to social changes and needs. We will pursue further value creation by strategically utilizing this capital.

highly specialized staff for airport operations. We are also

Construction ofuser-friendly andsophisticated terminalbuildings

seeking diversity among our human resources, including

We have taken full advantage of thewomen and individuals with experience outside the company.

excellent location of Haneda Airport,

Over the years, our organization has acquired and developed

which serves as a key transportation

Frontier Spirit(use of new technologies, such as DX and robotics)
In the ever-changing aviation industry, we value humanresources with a frontier spirit. To be flexible and proactive
corporate culture. By utilizing new technologies, such as DX
and robotics, we are working to improve the quality of ourservice and streamline airport operations.

acclaim from organizations around the world.

Percentage of female managers

41.6％

terminal buildings, we are able toaccurately respond to theever-growing demands of air

No. 1 in the world for 11 consecutive years

amenities for the numerous domestic
and international air travelers.

Haneda Airport passenger traffic

82.22 million passengers
Number of routes in service:

Domestic flights to 48 cities
International flights to 34 cities

Solid financial
foundation

The Company is designated by Japan’s
Ministry of Land, Infrastructure,
Transport and Tourism as an airport
functional facility operator, based on
the Airport Act of Japan. We have built
strong, long-term relationships with avariety of business partners, including
numerous airlines, tenants, and local
business branches. These connections
help us deliver results, including quality
services and customer satisfaction.

In conducting its business,

Based on our highthe company relies on

creditworthiness andnatural capital, such as themarket reputation, wesurrounding natural

have built a solid

environment andfinancial foundation byecosystems, for its energy

raising funds

and water. We are striving

effectively as needed.

to develop efficientThis allows us tobusiness operations so as

maintain flexibility andto mitigate oureffectively allocate

environmental footprint

funds for businessand our impact on

expansion.

Relationship with regions
and communities

biodiversity.

JAT’s brand value has won great
acclaim, thanks to its long history of
consistently excellent terminal building
management. By using our venue topromote regions and communities, weare deepening our relationships withthose regions and communities, whileat the same time working to help
revitalize domestic air travel.

FY2022 power usage

7 domestic airlines
37 international airlines

152,525 MWh

Equity ratio

Number of regional/community events held

FY2022 water resource usage

Net D/E ratio

Number of airlines in service

36

701,698m

3

33.6％
Data

SKYTRAX World’s Best Domestic Airport

19

enhance the functionality of our

Efficient resource
utilization

Corporate governance

2,499

In addition, by continuing topassengers and provide appropriate

Our human-powered airport operations have won great

Total number of employees(consolidated)

operation.

Strong relationships withbusiness partners

Materiality Initiatives

regarding new challenges and innovative ideas is part of ourhub, and are constantly reviewing its

Financial capitalSpecial Feature

Great expertise and knowledge regarding
airport operations

Natural capital

Medium-term Business Plan

Manufacturing capitalSocial andrelationship capital

Value Creation Story

Human and Intellectual Capital

Data handling: Numerical data in principle covers results for fiscal 2022. However, we have given the results for fiscal 2019, theyear immediately before the impact of the COVID-19 pandemic, for some items, such as passenger traffic at Haneda Airport andthe number of routes and airlines in service.

The future we seek

Capital realizes value creation

1.0 xJapan Airport Terminal Report 2023

20

Medium-term Business Plan

As a corporate group responsible for the construction, management, and operation of highly public passenger terminals, Japan
Airport Terminal Group aims to build a system that enables flexible and stable business operations even in a businessenvironment in which society as a whole as well as the airline industry as a whole undergo major changes. Therefore, in
formulating our medium-term business plan for the period from FY2022 to FY2025, to address environmental factors that are
expected to affect the management of our Group, we compiled trends in the government (Ministry of Land, Infrastructure,
Transport and Tourism) and the airline industry, and also took into account changes in the business environment and social
environment.
Regarding risks and opportunities derived from the external environment, we will evaluate the impacts on our Company bothin terms of preventing losses and developing opportunities, and study initiatives and countermeasures as essential issues for ourmanagement strategies. By so doing, we aim to form a strong and resilient organization.

Despite the ever-changing business environment, by 2030 we need to become
one of the most advanced, people- and eco-friendly airports. Otherwise, wecannot realize our long-term vision of becoming a World Best Airport, and be
seen around the world a leading airport company, Japan’s premier airport, thegateway to Japan, and an airport terminal company trusted by all stakeholders.

Long-term vision(2) Responses with a view to the recovery and expansion of demand after COVID-19(functional strengthening of each airport, including airports in the Tokyo metropolitanarea, and disaster prevention and reduction measures at the airport)(3) Response to decarbonization in the aviation industry (promotion of decarbonization
at the airport)(4) Ensuring the safety and security of new aviation mobility (introduction of flying cars,
and safe and smooth flights of drones, flying cars and piloted aircraft)(5) Providing safe and secure aviation services (promotion of aviation innovations)(as per MLIT’s website, and edited by Japan Airport Terminal)

As the airport representing Japan and thepremier gateway to the country, we are creating
a model recognized as the best in the world.

(1) Strengthening the international competitiveness of the Tokyo metropolitan
area ⇒ Revitalizing the Japanese economy(2) Acceptance of non-Japanese visitors to Japan ⇒ Increase in the number offoreign travelers and expansion of travel consumption(3) Regional vitalization throughout Japan ⇒ Growth potential of foreign countries
affecting regions throughout Japan(4) Strengthening airport functions (development of artificial land, railroads
connecting to the airport, and aircraft parking apron)- human-and-eco-friendly advanced airport 2030 -(5) Disaster prevention and reduction measures, etc. (strengthening the seismic
capacity of runways, etc., development of bank protection, etc., and renovationof basic facilities, etc.)

World-leading
hospitality

Innovation

Pleasant
journeys:stress-free

A safe andsecure airport

Eco-airport

Lifestyle changes

Growth in Asia

Business Environment

Airline Industry• New values and lifestyles resulting
from the COVID-19 pandemic• Excess of supply in the office market(decline in demand for offices due toteleworking, etc.)

Natural disasters/
pandemics

Climate change• Decrease in the number of passengers dueto the COVID-19 pandemic• Promotion of structural reforms at airlines• The government’s target of 60 million
non-Japanese visitors to Japan

Social Environment• Changes in the world situation• Return of the pandemic• Risks of disasters and earthquakes• Decarbonized society• Measures to prevent global warming• Heightened awareness of sustainability, andrequirements from the market• Fall in the domestic population• Declining birth rate and aging population

Promote businesses in accordance with the Sustainability
Basic Policy and the established management system● Achieve the CO2 reduction target of 46%●

Continue to build operational excellenceContinuously improve quality and efficiency, including
lessons learned from the COVID-19 pandemic● Establish new ways to utilize terminals in cooperation withairlines● Use digital marketing to help create new services andimprove traveler satisfaction● Improve productivity, such as controlling operations throughDX and systemization

Establish stable revenue streams and financial foundations
Incorporate an increase in airline demand into a rise inrevenues from merchandise sales, food and beverage, andservice businesses● Grow newly developed businesses to the extent that they
contribute to the earnings base
● Recover the equity ratio to 40% and maintain the rating●●

Establish airport functions with a view to a future rise inairline demand

Further lift organizational strength and governance
Cultivate a corporate culture where human resources who
can think and take on challenges on their own and where
members of the diverse workforce motivate each other● Development of a Group management system that adapts tothe business environment● Establish governance that realizes higher transparency andequitability of management, and improve corporate value●

Complete the expansion of T1 and T2 terminals bydeveloping satellites and promoting operations● Connect East Japan Railway Company – Haneda Airport
Access Line (scheduled to be completed in 2031) to T2
terminal● Research and review the development of terminals incooperation with the review of artificial land development by
the government

Corporate governanceWorld population growth/Emerging
countries

Permeate sustainability through management and business decisions

Materiality Initiatives

An airport terminal operator
trusted by all stakeholders

Special Feature

Japan’s population
decline, lowbirthrate and an
aging population

Our goals for 2030

Functional strengthening of airports in the Tokyo metropolitan area

Medium-term Business Plan

(1) Appropriate responses to the COVID-19 pandemic (border control measures thatreflect the infection situation)- To be the world’s most respected airport,
pursuing the satisfaction of all stakeholders -Leading airport company

Government (Ministry of Land, Infrastructure, Transport and Tourism)
MLIT ”Circumstances Surrounding Aviation and Future Issues
and Initiatives” (March 2022) [Excerpt]

To Be a WorldBest Airport

Value Creation Story

Goals to be attained by 2030

The future we seek

External environment awareness

●

Data

* Review of connection between terminal T1 and T2 (improvement of a newinternational flight area)

21

Japan Airport Terminal Report 2023

22

Medium-term Business Plan

Medium-Term Business Plan
(FY2022–FY2025)

Long-term vision

To be considered one of the world’s most advanced,
human- and eco-friendly airports
Medium-Term Business Plan 2020

Growth and Evolution

Facing Challenges

Expand- To be the world’s most respected airport,
pursuing the satisfaction of all stakeholders -Establishing a foundation
for regrowth

Growth of airport business

Expansion of earnings baseLeading airport company

Optimize

Growth drive

Create value

ChangeExecute an
investment forinternationalization
associated with the
expansion of flight slots at
HanedaMaking TIAT aconsolidated
subsidiary
Upgrade the operation ofboth domestic andinternational flights

Grow

Enhance the earnings base

P.25

Our goals for 2030

• Terminal management pursuing
flexibility and efficiency• Strengthen and ensure cost
controls

Increase capital• Promote earnings
diversification

Promote sustainability
Pursue sustainability P.29

･ Sustained growth of our Group･ Realization of a sustainable
society• Secure funds to develop theterminals in the future

Enhance the management base
Improve and innovate by harnessing DX andnew technologies

Organization, personnel, and governance

COVID-19 pandemic

Previous and current medium-term business plans
During our previous medium-term business plan (FY2016–FY2020), international flight slots at Haneda Airport were increased
approximately 1.4 times to strengthen the facility’s functioning. At the time, our Group made Tokyo International Air Terminal Corporation
However, with the pandemic, aviation demand declined sharply, causing significant change in the business environment on which theplan was based. Thus, we had to diversify revenue sources and cut costs to improve profits, as well as finance operations through a public
offering and other means, to secure funds for terminal development and to shore up our financial base. And this was in addition to having to
implement rigorous infection prevention measures and expand non-face-to-face and non-contact services to ensure safety and security
during travel.

Eco-airport

P.27

Financial strategy

An airport terminal operator
trusted by all stakeholders

2022- 2025
Recovery of passenger numbers

-

2030

60 million overseas visitors to Japan
SDGs’ target year

In light of this, our current medium-term business plan (FY2022–FY2025) is a backcast plan, based on our vision for 2030. It sets theyears 2025 and 2030 as milestones.
The reduction of CO2 emissions and the government’s objective to raise the number of foreign visitors to Japan to 60 million are national
goals for 2030. They presuppose that, by 2025, airline passenger traffic will return to its pre-COVID level.
Our goals for FY2025 are to boost profits beyond the planned pre-COVID levels, as well as to reinforce management in terms of DX,
organization, personnel, governance, and financial strategies. This should provide a foundation for regrowth, allowing us to expand ourearnings base and achieve airport business growth. Sustainability will be at the core of our strategies.

Data(TIAT) a consolidated subsidiary, working closely with it to develop facilities able to accommodate the flight slot expansion.

Pleasant
journeys:stress-free

Corporate governance2021

A safe andsecure airport

Materiality Initiatives

World-leading
hospitality• Strengthen the financial
foundations in preparation for
prolonged COVID-19

2016- 2020- human-and-eco-friendly advanced airport 2030 -Special Feature

As the airport representing Japan and thepremier gateway to the country, we are creating
a model recognized as the best in the world.

Lessons learned
from the COVID-19
pandemic

Medium-term Business Plan

Reform and Innovation

Value Creation Story

To Be a WorldBest Airport

Seek profit higher than that prior to COVID-19, assuming recovery of passenger
numbers to pre-pandemic levels

The future we seek

Medium-term business planas part of our overall strategy

With international flight demand rapidly recovering since fall 2022, we have been investing in human capital while controlling
post-COVID cost rebounds.
The full text of the Japan Airport Terminal Group Medium-Term Business Plan can be found athttps://www.tokyo-airport-bldg.co.jp/files/en/ir/000012141.pdf.

23Japan Airport Terminal Report 2023

24

Medium-term Business Plan

The future we seek

Earnings based strategy
In response to the changing business environment, we will base our regrowth on three strategic pillars: change,
growth, and expansion. At the same time, we will build a solid revenue base by steadily capturing future aviation
demand and broadening our revenue base by expanding our business into new areas.

GrowthGrowth and Evolution

Attracting more airport businessNew business

Expertise business

Expansion
Facilities management

Expanding our earnings baseMerchandise sales

Expanding our earnings base

Drive growth

Attracting more airport business
Capture future airline demandWith the Japanese government planning to attract 60 million overseas visitors toJapan by 2030, we will invest in capturing the resultant airport businessdemand—our biggest growth driver—and continue to improve terminal
functions and airport infrastructure for greater user convenience.

Food and beverage

JAT Group’s business segments

Business foundation

Operation● T1 internationalization/T1–T2 connection,satellite site development/access measures

Facilities● Expansion of product sales, food and service
business

Sales

Special Feature

Change● Achievement of operational excellence

Medium-term Business Plan

Expansion

GrowthValue Creation Story

The concept of change, growth, and expansion

Creating a foundation for regrowth

Optimize

Based on the lessons learned from the pandemic, we will expand
non-face-to-face and non-contact services, reduce costs, respond to changed
behavior patterns, and use new technologies, such as DX and robotics, to ensure
operational efficiency.

Expansion
Create value

Broaden earnings base by developing business in new fields
Having experienced the sharp decline in the demand for air travel during the
pandemic, we aim to ensure that our business will not rely solely on airline
passengers. We will pursue new value and possibilities for Haneda Airport basedon our long experience, implement initiatives in new and expertise-based
business, and strengthen our earnings base.

● Align terminal operations with the recovery ofpassenger traffic

Efficiency● Utilize the value of Haneda

Locational value● Suppress rebound from cost reductions

Efficiency● Respond to target customers seeking highadded value

Customer assets● Stabilize real estate income

Sophistication● Monetize the airport consulting business

Expertise● Respond to changes in lifestyle and patternsof behavior

Sophistication● Generate revenue that is not dependent on
passengers

New businessJapan Airport Terminal Report 2023

Data

25

Achieve desired outcomes through the fundamental
improvements made during the COVID-19 pandemic

Expanding our earnings base

Corporate governance

ChangeFacing Challenges

Materiality Initiatives

Reform and Innovation

Establishing a foundation forregrowth26

Medium-term Business PlanPatch to our medium-term business plan
to maximize tangible and intangible airport terminal value.

domestic flight-related satellite maintenance work;

At the same time, as we enhance our corporate value, wemanagement resources for store renovation; facility

will continue providing you with intuitive explanations ofdevelopment; environment-related investment; EC

our Group’s growth strategies and business plans thatbusiness; and DX. The Group realizes the benefits ofreflect your expectations and opinions.

pursuing broad-based sustainability policies, such asenvironment-related stewardship, and the need to invest insuch intangible assets as DX and human capital.
As such, I believe that my focus should be on

Value Creation Story

By FY2025, we plan to invest ¥105 billion in areas including

The future we seek

Management
strategy

implementing finance-based management strategies so as(billion yen)2025 PL

Executive Vice President
Executive Officer and CFO

The previous revenue recognition accounting
standards were applied to these figures.

Facilities
Management

Merchandise
Sales

Food andBeverage

Operating
IncomeOrdinary
IncomeNet income

280

106

156

18

30

27

280

320

106

193

21

Passenger traffic (Haneda Airport)

During fiscal 2022, society gradually regained composure andairline industry demand continued to recover steadily, thanks toWith COVID-19 recategorized as a Class 5 infectious disease
under Japan’s Infectious Diseases Law, passenger demand is

the removal of restrictions on domestic movement and the gradualexpected to recover in the near future and lead to increased

relaxation of border measures.

in-inbound passenger traffic. Our consolidated results forecast

As a result, sales in all segments increased from the previous
fiscal year, and operating revenue amounted to ¥113,050 million

thus anticipates a return to profitability for the first time in four
years.

Numerical goals
The JAT Group recognizes it has a crucial role to play as aviation

implemented during the pandemic—is maintained; rebounds indemand increases. Hence, under our medium-term business plan

cost reductions are suppressed; and business evaluations areannounced in May 2022, we aim to recover quickly from theconducted based on capital costs.

pandemic. We will adopt financial strategies that include theBased on the above strategies, under the medium-termbusiness plan, which ends in fiscal 2025, we have set the following
metrics as quantitative targets. These include ROA* of 12% orappropriately investing in new business opportunities.

more, as a measure of efficiency with respect to invested capital; aThe Group recognizes the importance of rigorous

FY2022(result)(forecast)(forecast)(forecast)

Number ofpassengers

53,06061,31069,00069,000Vs. target

77％

89％

100％

100％

International flights

FY2022our financial base during the current uncertain business

we plan to invest in such ways as will help our airport businessenvironment; and a dividend payout ratio of 30% or more, as agrow, and to expand our earnings base. At the same time, we willmeasure of shareholder returns.

ensure that: the efficiency of terminal operations—including those* EBITDA / average of total assets at the beginning and end of the period

FY2023

FY2024FY2025(forecast)(forecast)(forecast)

Number ofpassengers

6,800

19,37023,80025,600Comparison with
post-expansion plan

27％

75％

93％

100％

Vs. FY2019

37％

104％

129％

139％

Metrics usedGoal

FY2022 results

Efficiency

ROA*

12% or higher

4.0％

Stability

Equity ratio

Return to 40% level

33.6％

Shareholder return

Payout ratio

30% or more

-

40％

20％

0％

Medium-term plan:domestic flights

Medium-term plan:International flights

Latest:domestic flights

Latest:International flights

1Q 2Q 3Q 4Q

1Q 2Q 3Q 4Q

1Q 2Q 3Q 4Q

FY2022

FY2023

FY2024(forecast)(forecast)

1Q 2Q 3Q 4Q

FY2025(forecast)

FY2023

FY2024FY2025(plan)

Total

15

29

34

27

105

(result)

Investment plan

Facilities management(plan)¥ 93 billion

T1/T2 satellite site maintenance investment, equipment renewal
work, etc.

New business/expertise business ¥5 billion
3 billion

HANEDA INNOVATION CITY, e-commerce business, robot business,
etc.

Management base and others
DX investment, etc.

(billion yen)

FY2022¥ 4 billion(plan)

Investment in improvement of the T1/T2 satellite site (billion yen)
FY2022

FY2023

FY2024FY2025(plan)

Total

6

19

18

10

53

(result)(plan)(plan)

Construction of facilities related to CO2 reduction(total construction costs from FY22 to FY25)

Construction to convert to LED lighting:¥ 3 billion

Construction to replace air conditioners:

DataType of metric60％

Estimated investment amount during the plan periodStore renewal construction, system updates, etc.

2025 numerical goal guidelines and results * Partial excerpt

80％(result)

Merchandise sales food and beverage ¥27

FY2025(result)

return to an equity ratio of 40%, as a measure of the stability ofmanagement and the need to enhance shareholder value. Thus,

FY2024

Corporate governancerestoration of the Group’s sound financial structure, setting up an
advanced business evaluation and management system, andDomestic flights

100％

Materiality Initiatives(up 98.1% year on year).

FY2023(1,000 people)

Special Feature

Review of Fiscal 2022

Operating
Revenue

Medium-term Business Plan

Kazuhito Tanaka

Profit targets¥ 5 billion* Planned investment: ¥3.5 billion

Japan Airport Terminal Report 2023

28

Medium-term Business Plan

Right from the start, we have focused on sustaining business growth, developing the Group, benefiting society by ensuring there isa balance between business and society, and helping to realize a sustainable society.
To ensure deeper embedding of sustainable management in our organization, we have formulated a Medium-term

Materiality
Categories

Materiality

Initiatives

management strategy and enhance the effectiveness of our sustainability management initiatives.
and representative director. Discussions of priority themes will be undertaken by subcommittees.

Sustainability Promotion System

Outline of Meeting Body and Working Group

Overview of the sustainability promotion system

Sustainability Committee

Executive Committee
Information sharing and cooperation

Committee
Members

Chairperson: President and COO
Members: Vice President and all other officers(including executive officers)

Secretariat

Sustainability Management Office

Meeting
frequency

Twice a year or more (five times in FY2022)

Risk Management Committee
Sustainability Committee
Secretariat: Sustainability
Managemnet OfficeCompliance Promotion Committee
JAT Group CS Promotion Committee

Human Rights Subcommittee
Supply Chain Subcommittee

Others● Establishment of plans and targets relating tosustainability and progress management (PDCA)● Stakeholder communication, etc.

S・Decarbonization Core Conference (WGs on energy saving,energy generation, new energies, resource recycling, etc.)

Promotion ofdiversity andinclusion andrespect for humanrightsEach business division/Group company

1

Step

Step

Step

5

29

Customers
Partners
Employees
Local Communities
CommonWorld-leading
hospitality
Safe and secure airport
Pleasant journey:stress-free

Promotion of universal design

G

Promotion of fairbusiness activities

Strengthening ofrisk management

Creation of interaction with local
communities

Customers
Partners
Local
Communities

Safe and secure airport
Pleasant journey:stress-free

Benefit-sharing with local
communities
Transformation of workforce intoa group of real professionals
Improved employee
engagement

Customers
Employees

World-leading
hospitality

Promotion of diversity andinclusion

Customers
Partners
Employees
Local Communities
CommonWorld-leading
hospitality
Safe and secure airport

Implementation of human rights
due diligence
Ensuring of thoroughcompliance

Customers
Partners
Employees
shareholders,and investors
CommonWorld-leading
hospitality
Safe and secure airport
Pleasant journey:stress-free
Eco airport

Strengthening of sustainability
governance
Strengthening of risk
management systems

Customers
Employees
shareholders,and investors
CommonWorld-leading
hospitality
Safe and secure airport
Pleasant journey:stress-free
Eco airport

Cybersecurity

Materiality Evaluation
We evaluated and narrowed down the potential materiality includedin the list from both aspects of the importance for the Company’sbusiness (corporate interests) and the importance for society (public
interests). Furthermore, as part of the evaluation, we conducted aquestionnaire survey at the Company’s respective departments andinterviews with them.

Dialogue with Experts

Materiality and Corresponding Strategies Set Forth in Medium-Term Business Plan
Medium-term Sustainability Plan/Materiality (Key Issues)

After discussions at the Sustainability Committee, we identified eightmateriality topics. We will continue to review the materiality in light ofchanges in the social environment.

Initiatives and KPIs
We are developing initiatives that contribute to the solution of thedefined materiality as well as KPIs to evaluate progress in theinitiatives. In the development process, we consulted and confirmedwith relevant departments and companies, bearing in mind
information disclosure and dissemination to external parties.

Effective useof limited
resources

Developmentof a safe,
comfortable
and advanced
airportContribution
to local andregional
communities

Human
resource
development

Promotion of
D&I and
Respect for
Human Rights

Promotion offair businessactivities

Strengtheningof riskmanagement

●

●

●

●

●

●

●

●

Growth of airport business

●

●

●

●

●

●

●

●

Expansion of earnings base

●

●

●

●

●

●

●

●

Improve and innovate byharnessing DX and newtechnologies

●

●

●

●

●

●

●

●

Organization, personnel, andgovernance

●

●

●

●

●

●

●

●

Financial strategy

●

●

●

●

●

●

●

●

Direction of strategies set forth in MTMP
Establishing a foundation forregrowth

Through dialogue with external experts, we confirmed expectations anddemands from external parties, and verified the completeness andappropriateness of materiality topics.

Identification of materiality

Measures tocombatclimatechangeReform and Innovation (Change)

Important

Corporate interests

Most
importantReinforcementof earnings base

Impact on our business

Growth and Evolution (Grow)

Facing Challenges (Expand)

The full text of the Japan Airport Terminal Group Medium-term
Sustainability Plan can be found at Medium-Term Sustainability Plan
Medium-Term Sustainability Plan

https://www.tokyo-airport-bldg.co.jp/en/
sustainability/medium_term_plan/

Enhance themanagement
base

Japan Airport Terminal Report 2023

Data

4

Assurance of safety and security

Corporate governance3

Most
important

Impact on society

Step

In order to identify social issues and business environment that may
affect JAT’s business operations, we listed up potential materiality taking
into account material items covered by guidelines issued by the industry
association (ACI) and international organizations (e.g., GRI and SASB) in
addition to our business strategy (medium term management plan).

Public interests2

Mapping along the two axes of corporate
interests and public interests to identify themost important issues for JAT

Drawing up of a list of potential materiality

Safe and secure airport
Eco airport

Materiality Initiatives

Step

Materiality matrix
governanceMedium-term Sustainability Plan Development Process

Contribution to
local and regional
communities

Human resource
development

・Human Rights Subcommittee
・Supply Chain Subcommittee…etc.

Partners
GlobalEnvironment

Special Feature

Corporate-wide
development

Development of asafe, comfortable
and advanced
airportEstablish the Risk Management Committee and theme based
working groups

Decarbonization Core Council

Waste reduction/
resource recycling

Safe and secure airport
Eco airport

Use of digital technology● Measures to identify critical sustainability issues

Matters fordeliberation

Introduction of eco-friendly
materials and merchandise

Partners
GlobalEnvironment

Medium-term Business Plan

Audit and Supervisory Committee/Renumeration Advisory
Committee/Nomination Advisory Committee

Effective use oflimited resources

Reduction of CO2 emissions

SDGs to be contributed

Enhanced terminal functionality

socialBoard of Directors

E

Measures tocombat climatechangeVision for 2030

Value Creation Story

The plan requires that progress be monitored once every six months by the Sustainability Committee, chaired by the president

environment

Sustainability Plan in May 2023. This will clearly define key issues and key performance indicators, enabling us to promote our

Relevant
Stakeholders

The future we seek

Sustainability strategy

30Medium-term Business Plan

Our goals for 2025

Fiscal 2022 progress and challenges

million for the previous fiscal year).
Beginning fiscal 2023, passenger traffic is expected to recover andreach close to pre-COVID numbers. The challenge thus is how to pursue
efficient operations while maintaining business and service levels by, forWith a view to 60
million overseas
visitors to Japan in
2030, we plan tostrengthen functions
while contributing tosociety.

ExpandGrow

technology.

Based on the expense structure
reviewed during the COVID-19
pandemic, we are operating theterminals efficiently.
We are enhancing real estate
management by reviewing leasing
and rent structures to increase
revenues.

We are aiming to improve
performance at domestic
airports as a whole byacquiring new technologies
that are necessary forenvironmental measuresand combating infectious
diseases.

In addition, with the government’s goal of attracting 60 million
foreign visitors to Japan by 2030, aviation demand is set to increase. Thismeans we will have to expand areas of the airport ahead of the future
growth in demand, and improve the value of Haneda Airport byrevitalizing commercial areas and attracting office tenants.

8,758

8,864

8000

6,567

6000

3,753

4000
2000

1,433

4,201

693

0

-313

-2000

-2,486

-4000
-6000

-3,628

2018

2019

2020

2021

2022

(FY)

recover. In the meantime, we carried out store renewals, attracted new brands, and repositioned existing brands.
As a result, merchandising sales entered positive territory. The two segments combined recorded an operating revenue of¥51,616 million (up 77.6% year on year) and an operating income of ¥275
million (down from the operating loss of ¥9,226 million for the previous
fiscal year).
raw material and labor costs. We therefore recognize that the challenge is

Direction of strategy

adopting labor-saving store structures.
Expand sales channels by
EC business, etc. to earnrevenues that are notpassenger-dependent.

In addition, to increase profits further, we plan to offer distinctive
stores and provide highly satisfactory services by strengthening ourcollaboration with business partners, using marketing, carrying out store
renewals, and revising our merchandising methods.

Operating income/loss

Operating revenues(million yen)

25,00020,00019,56017,08315,00010,000
5000

5,161
1,664

1,127 1,852

0
-5000

-1,547

2018

2019

2020

1,859

27

-922

2021

2022

(FY)

These businesses are expected to part of the earnings base in 2030. By
utilizing Haneda’s value and networks, and airport operational expertise, andthrough acquiring management resources we currently do not have, we aim togenerate operating revenues of 10 billion yen in 2025.
* New and Expertise Business plan target figure is included in the total of the figures of three business segments’ plan targets above.

We have a history of running airport concessions and providing consulting services for domestic and international airports. This is based on theexpertise we have accumulated through the management and operation of public passenger terminals.
But, in fiscal 2022, we found ourselves also providing expertise and technologies outside the purview of airport operations. These activities
include the introduction of the robots used at Haneda Airport, and the external sale of Radi-Cool, a product that works by using the natural
phenomenon of radiative cooling to dissipate indoor heat.

Corporate governanceFiscal 2022 progress and challenges

Materiality Initiatives

Review merchandise,services, etc. throughdigital marketing.

Expandto achieve low-cost operations by developing original products andGrow

10,000

Sales increased in Merchandise Sales and Food and Beverage segments as domestic and international passenger traffic began toCurrently, purchasing costs are expected to increase, due to soaring

ChangeOperating income/loss

Special Feature

While reviewing the product mix, services, operations, cost rates, etc., we will
uncover customer needs where consumption trends have changed by taking
advantage of digital marketing, and aim for operating revenues frommerchandise sales of 156 billion yen and operating revenues from food andbeverage sales of 18 billion yen.

Review operations and cost
rates through research into
new technologies andcultivating new business
partners.

Operating revenues(million yen)

Fiscal 2022 progress and challenges

Our goals for 2025

From now on, our revenue will be come from twosources: one source other than airline passengers, and theother source that results from growth in the airport business.

Direction of strategy

ExpandAim to increase revenues bydeveloping new businesses
that take advantage ofHaneda’s value andfocusing on existing
expertise in airport
operations.

In January 2024, we are scheduled to open terminal.0
HANEDA, an inter-industry collaborative research andAim to acquire newtechnologies and expertise,leading to the creation of
new businesses.

development center at which we will promote innovation,

Data

Grow

New andExpertise Business

Our facilities management business recorded an operating revenue of ¥65,672 million (up 56.3% year on year), and an
operating loss of ¥3,133 million (down from the operating loss of ¥24,863

example, optimizing operations and using labor-saving robotics

Our goals for 2025

Merchandise Sales andFood and Beverageadministration costs in the area of facilities management, and reviewed our outsourcing policy.

Medium-term Business Plan

ChangeDirection of strategy

Since passenger traffic had yet to fully recover in fiscal 2022, we sought to reduce costs by prioritizing maintenance andValue Creation Story

To achieve both high quality and profitability, we are reviewing terminal
operations and promoting the functional strength of airport infrastructure
toward increasing the number of non-Japanese visitors to Japan in 2030, while
striving to reduce maintenance and management costs and increase revenues
such as rents. We aim for operating revenues from Facilities management of
106 billion yen.

Facilities Management

The future we seek

Progress attained by business divisions

upgrade our e-commerce sites, and develop new services toincrease the value of customer experience.
By these and other efforts, we will diversify our earnings,
as well as accumulate new knowledge and expertise thatshould lead to further growth in our core business.

31

Japan Airport Terminal Report 2023

32

Special Feature

Our bid to become a World Best Airport

Case

Growth and Evolution

GrowthResponse to growing aviation demand

1. Connecting Terminal 2 north satellite to main building (due for completion in 2025)

Enhancing airport terminal functions

We will connect the main building ofTerminal Group, is implementing plans to expand airport terminal facilities. This will allow us as to respond effectively to the
expected increase in demand, which is partly driven by the Japanese government’s target of welcoming 60 million

Satellite site

eliminating the need for dedicated

Building planned

buses to travel between thefacilities. Three new boarding gates

Value Creation Story

As a corporate group responsible for the construction, management and operation of passenger terminals, Japan Airport

Terminal 2 to the north satellite site,

The future we seek

Passenger flow optimization;
improvement of on-time flight rates

will be provided for optimalpassenger flow and to improve theratio of on-time flights.

Terminal 2international visitors per year by 2030.

Medium-term Business Plan

Terminal 2
Development of JR East Haneda
Airport Access LineBy East Japan Railway Company and the Ministry ofLand, Infrastructure, Transport and Tourism

Planned initiatives
Note: Steps to be taken by external businesses have been compiled by JAT
based on the materials they have published.

Terminal 1

By Keikyu Corporation and the Ministry ofLand, Infrastructure, Transport and Tourism

Government backing artificial land development

Facility planning to reflect need for apron
earthquake resistance and large new
equipment

According to fiscal 2023 budget-related documents, the Civil Aviation
Bureau of the Ministry of Land, Infrastructure, Transport and Tourism
reclaimed land used to connect domestic and international flightfacilities.
As a designated Haneda Airport facility operator, we are following

in line with the government’s requirement for apron upgrading.

closely trends in passenger demand, and conducting research andTerminal 3

studies on a future T1–T2 terminal connection (development of a newinternational flight area) in conjunction with the government’s

Materiality Initiatives

believes that Haneda Airport convenience would be improved were

2. Construction of new Terminal 1 north satellite
We plan to construct a satellite facility on the north side of Terminal 1,

Special Feature

Construction of new Keikyu
lead track

Domestic–international flightconnections to be moreconvenientconsideration of artificial land development.

Terminal 1

Metropolitan Expressway
National road

Reclaimed land

Taxiway

National road

Terminal building expansion

Building planned

Corporate governance

T2

T1

33

Japan Airport Terminal Report 2023

Data

Note: Created by JAT based on the“FY2022 Civil Aviation Bureau
related budget summary,” issued by
the Ministry of Land, Infrastructure,
Transport and Tourism’s Tokyo Civil
Aviation Bureau.

34

Special Feature

Our bid to become a World Best Airport

Growth and Evolution

Facing Challenges

ChangeGrowthExpansion

The future we seek

Case

Reform and Innovation

terminal.0 3 functions

R&D center to collaborate with industries, solve airport issues

JAT will take the lead in creating development themes and promoting information exchange andinteraction among participating companies.

terminal.0 HANEDA

Collaborationand exchange

Sharing airport issues and needs on a daily basis
To share the issues facing airports, JAT will hold discussions with its 19 Group companies that conduct facility management operations, merchandise sales,
and food and beverage business at airports, as well as the airlines.

At the end of January 2024, we will open terminal.0 HANEDA within Haneda Innovation
City, in which we are an investor. The new facility will serve as a research anddevelopment (R&D) base that will collaborate with a number of industries to solve

Demonstration
experiments

airport problems. We will collaborate cross-sectionally with highly specializedcompanies and organizations to research and develop ways of boosting airport value.

A mockup featuring airport equipment and functions, as well as aircraft equipment
will be set up in terminal.0.
Reproducing airport functions and passenger flow within the facility allows for highly selective demonstration experiments.

Value Creation Story

Holding events to encourage terminal.0 management and co-creation
To continue to be a more effective and active facility organization in order that we might be adopted by airports, we will reflect the opinions received from individualcompanies in our operation of the facility. We will also hold various events to stimulate communication and information exchange among participating companies.

Participating companies will be able to conduct accurate demonstrations, in the hope of being adopted by Haneda Airport.

We will set up co-working functions that participating companies can access dailyNote. We aim to be adopted by Haneda Airport once security and safety have been confirmed and demonstration experiments held.

Creating a place to present research content and results

the expertise and technology of individual companies to conduct R&D together. Test

Announcements
and Presentations

field and presentation forums will be provided as R&D venues, and we hope that theresults will be adopted by Haneda Airport and other airports around the world.

Venue for announcing verification and results of demonstration experiments
The demonstrations at terminal.0 will be expanded to our operational departments in the hope that they might be adopted by Haneda Airport.

Creation of dedicated website and publication of annual reports
We will open a website exclusively for terminal.0 and compile annual reports on our research results for public dissemination.

Haneda Innovation City Building C

The functions and services researched at terminal.0 will encourage
collaboration between different industries and combine the expertiseand technology of each company to create new value and solutionsfor Haneda Airport.

Goal of terminal.0 co-creation

Separate
workspaces forindividualcompanies

Until now

In thefuturePriority on performance and operation

Priority on performance and management + co-creation space forpeople and things

Fusion of different industries and fields(participating companies)

Fragrance:
Cosmetics manufacturers

Special Feature

Security checkpoint (example)

Medium-term Business Planand use as a forum to help stimulate inter-corporate collaborative research. We will use

Airflow:
Air conditioning and equipment manufacturers
Sound:
Audio manufacturers and entertainment companies
Illumination:
Lighting manufacturers and sign-related businesses
Color:
Architecture companies, design companies

Concept of the facility’s interior

N

C

E

terminal.0 HANEDA

E

N

T

R

A

Location:
Haneda Innovation City, Building C, 2nd and 3rd floors
Transportation access:Direct connection to Tenkubashi station on the Keikyu and Tokyo Monorail Lines
Purpose:To provide coworking space for corporate participantsThis is a center developed through public–private collaboration by Haneda Mirai Kaihatsu
Co., Ltd. and Tokyo’s Ota Ward. The commercial and business complex, it has two coreareas of focus: cutting-edge technology and culture. At the center, future-oriented urban
development that creates and disseminates new experiences and value is mapped out. Our
location, adjacent to Haneda Airport, is advantageously positioned for the disseminationof information domestically and internationally.

Mockup featuring airport equipment and functions, and aircraft onboard equipment
8 Boarding bridge

7 WicketBusiness entity: Haneda Mirai Kaihatsu Co., Ltd.

Psychological factors: Irritation, tedium, inconvenience

Psychological aspect: Relaxing, comfortable transit

Undeveloped fields

Reduction of stress and creation of excitement

terminal.0 research and development topics

While working to improve existing airport functions, for example by reducing
stress at security checkpoints and using cutting-edge robots, we will also
look to the future. We will research and develop the use of flying cars and thepossibility of terminal functions in an era when Japan has a more advanced
space industry and the concept of transportation takes on new forms.

9 Aircraft interior

Address: 1-1-4 Haneda Airport, Ota-ku, Tokyo
Access:Direct connection to Tenkubashi station on the Keikyu and Tokyo Monorail Lines

Issues (customer feedback): New awareness and discovery
of issuesterminal.0 2nd floor section (demonstration experiments and joint workspaces)

2 Security inspection gate
6 Lounge

1 Baggage drop

3 Rest rooms

Examples of
R&D topics

Security
checkpoints
Security

Spatial design
Use of wood

Art utilization
Interior design

Lounges

Relaxing effects
Functions

Advanced
technology
RobotsAir conditioning/lighting/
sound
Relatedequipment

Future aviation
relatedFlying cars
Space related

Data

4 Interior signs and information
5 Mobility

ENTRANCE

Haneda Innovation City

Facility management: Safety and security

Issues (customer feedback): Congestion, trouble, poorand slow employee response

Corporate governanceAncillary facilities:
Corporate booths, private rooms, conference rooms, event spaces, and more

Facility management: Safety and security

Materiality Initiatives

Demonstration
experiments
and joint
workspaces

Expected participating companies

Manufacturers, IT companies, venture companies (startups), healthcare businesses, spatial
design enterprises, construction companies, local airports, secondary transportation
operators, space organizations, and others.

35

Japan Airport Terminal Report 2023

36

Special Feature

Our bid to become a World Best Airport

Reform and Innovation

Growth and Evolution

Facing Challenges

ChangeGrowthExpansion

Enhancing the customer experience

By pursuing customer service at physical stores within Haneda Airport and using and combining e-commerce and online

Realizing retail business unique to airports

increasing touchpoints with customers, we will appeal to air passenger and general customers alike. This will allow us toservices, we will improve the value of both formats and maximize the value of the customer experience. In addition, by
expand and revitalize our retail business, as well as create a profit structure that no longer depends solely on airline
passengers.

Value Creation Story

Evolution of E-commerce
Enhancing E-commerce site

This service allows customers to pre-orderduty-free items on the reservation site and pickthem up at the airport. This improves pre-trip
experience value and pre-boarding convenience.

New service development

Domestic EC site

Global EC site

This e-commerce site sells products
exclusive to Haneda Airport inaddition to standard souvenirs andfarm-fresh products. By leveraging
the strength of having physicalstores and our e-commerce site, wewill provide new value for ourcustomers.

We are developing global
e-commerce sites, including theflagship stores we are opening on
cross-border e-commerce sites
for China (T-mall, etc.).

No stock-outs

Double points
awardedGrowth and revitalizationof retail business throughsynergistic effects, such as
the combination of physicalstores with E-commerce

Maximization of customer
experience value

EC siteOff-sitestoresOther

Cultivation of new customer
segments
Capture of revenue notdependent on air passengers

Corporate governanceEmailnewsletter

We operate approximately 100 directly managed
domestic stores and duty-free stores at Haneda
Airport Terminals 1, 2, and 3.

Materiality Initiatives

SNS

Data

App

37

No waiting inline for pickup

in-store pickup

Physical stores at Haneda Airport

Increase in customer touchpoints
In addition to physical stores, we will use theofficial Haneda Airport app, SNS, email
newsletters, and other media to increasecustomer touchpoints and build an omnichannel
network.

By using the existing Click &Collect service available on
duty-free product advancereservation sites, we offer
HANEDA PICK UP, a service thatallows customers to pick up
products ordered on the
HANEDA Shopping domestic
e-commerce site at a dedicatedpick-up counter at our Haneda
Airport store. We will continue
offering new services toimprove customer convenienceand provide more valuable
experiences.

Online reservations

Special Feature

Omnichannel support

Start of in-store
merchandise pickup
serviceMedium-term Business Plan

Duty free merchandise
reservation site

The future we seek

Case

Domestic stores

Duty-free storesJapan Airport Terminal Report 2023

38

Materiality Initiatives

The future we seek

Key issues and KPIs
The promotion of sustainability is at the core of the Japan Airport Terminal (JAT) Group’s strategy. We have identified eight material
issues and key performance indicators (KPIs), given in the table below, that are relevant to our business, and plan to create
medium- to long-term value by resolving those issues through our business activities.
The progress of our efforts is managed semiannually by the Sustainability Committee and revised as necessary. Information is

Sustainability

disseminated on the Sustainability page of our corporate website and through various media.

Measures to combat climate change

Effective use of limited resources

Initiatives
Reduction of CO2 emissions

Introduction of eco-friendly materials andmerchandise

Waste reduction/resource recycling

Enhanced terminal functionality
Assurance of safety and security

Promotion of universal design

Use of digital technologies

Contribution to local and regional communities

socialBenefit-sharing with local communities

Human resource development

Transformation of workforce into a group of realprofessionals

Strengthening of risk management

2025

Offering of ethical products at all directly managed (JAT’s select) stores *1

2025

Introduction of wooden structure/interior decoration to T1 satellite in the terminal expansion project

2025

Identification of issues for reducing food waste in the Group's restaurant business and set FY2025 targets

2023

Closed-loop recycling of all PET bottles collected at terminals

2025

Continuous receipt of “5 Star Airport” rating from SKYTRAX (terminal expansion, smoother passenger flows, enhanced signage, diverse
commercial facilities, etc.) *2

Everystraight year

Continuous receipt of the 1st rating from SKYTRAX in the “World’s Cleanest Airport” categoryEverystraight year

Continuous implementation of disaster drills, etc. (150 times/year; 3,000 total participants/year)

Everystraight year

Continuous receipt of the 1st rating from SKYTRAX in the “Best PRM & Accessible Facilities” categoryEvery straight year

Everystraight year

Completion of the initiative to introduce mobile electric carts and self-driving wheelchairs to all terminals

2025

A wider use of digital and robotic technologies in the five categories of (1) cleaning; (2) guidance/translation; (3) mobility support; (4) security;and (5) retailing and food service

2025

Installation of permanent local specialty stores in the premises of Haneda Airport within FY2023; holding of promotional campaigns at event
spaces at least 24 times a year

Everystraight year

Provision of know-how acquired in the Haneda Airport and products (robots, etc.) installed therein to overseas airports and other facilities at therate of 50 cases a year

2025

Continued participation of at least 1,000 people, including local (Ota City) elementary and junior high school students, in the airport tours andwork experience programsEverystraight year

Grand opening of the HICity (benefit sharing with local communities by providing medical services, creating vibrancy, offering a traffic hub, etc.)

2023

Active recruitment and development of human resources with diverse skills

Everystraight year

Creation of innovative businesses and improvement of business operations through cross-industry/industry-academia collaboration andsecondment of personnel to outside entities

Everystraight year

2025

Rate of childcare leave being taken by male workers: 100%; Rate of managerial posts being assumed by female personnel:
40%*Non-consolidated basis

2027

Employment rate of persons with disabilities: 6.6% *Non-consolidated basis

2025

Implementation of human rights due diligence

Investigation of human rights risks and identification of issues and countermeasures

2023

Ensuring of thorough compliance

Zero incidents of inappropriate behavior (serious misconduct/violations) in corporate activities

Promotion of diversity and inclusion

Strengthening of sustainability governanceEverystraight year2023

Formulation of sustainable procurement guidelines and dissemination thereof to business partners *3

Everystraight year

Dialogue with experts (twice a year)

Strengthening of risk management systems

Establishment of the Risk Management Committee and a PDCA cycle for priority risks

Cybersecurity

Zero incidents that result from a lack of adequate cybersecurity measures and have a serious impact on the terminal building operations

2023
Every
straight year

Data

governance

Receipt of ZEB Oriented certification for T1 satellite in the terminal expansion project

Corporate governanceG

Promotion of fair business activities

2030/2050

Embedding of internal branding activities (Plus One Promotion) into the mindset of all JAT Group executives to promote the development of“human resources who can think and take on challenges on their own”

Improved employee engagement

Promotion of diversity and inclusion and respectfor human rights

Reduction by 46% from the FY2013 level (net zero by 2050)

Materiality Initiatives

S

Creation of interaction with local communities

Target Year

Special Feature

Development of a safe, comfortable andadvanced airport

Major KPIs (Key Performance Indicators)

Medium-term Business PlanE

environment

Materiality

Value Creation Story

Categories

https://www.tokyo-airport-bldg.co.jp/en/sustainability/* 1 Ethical products are defined as products that lead to less food loss, fair trade products, products that use recycled materials, products that bear a certification label or mark, products that take into consideration local production and consumption, organic products, alternative meat/milk products, etc.
* 2 SKYTRAX: A UK-based aviation services research company founded in 1989. It evaluates airports and airlines worldwide, covering a wide range of evaluation criteria. Haneda Airport has won various awards, including the “5 Star Airport” rating (for nine consecutive years since 2014) and the 1st rank in the “Best Airport Terminal Cleanliness” category (for seven consecutive
years from 2016) and the “Best PRM/Accessible Facilities” category (for four consecutive years from 2019). “PRM,” an abbreviation of “Persons with Reduced Mobility,” represents an evaluation category for facilities that consider the elderly, people with disabilities, and those who have been injured* 3 Major primary business partners who had transactions with the JAT Group in FY2022

39

Japan Airport Terminal Report 2023

40

Materiality Initiatives

While climate change, including the frequent occurrence of extreme weather events, has a significant impact on the JAT Group, we
ourselves have an impact on the environment in that we emit large amounts of greenhouse gases (GHGs) through our activities,
which include the consumption of electricity for terminal operations. Given that we recognize the importance of addressing climatechange, we will continue conducting business with the aim of realizing environment-friendly airports compatible with social
sustainability.

Initiatives

Major KPIs (Key Performance Indicators)

The Air Breeze Tower and air conditioning
with floor outlets installed in Terminal 3
facilitate efficient air conditioning by only
conditioning air in spaces occupied bypeople.

Terminal 1 rooftop, four units
Terminal 2 rooftop, two units
Terminal 3 rooftop, two units

Total power generated
Approximately

2,600,000 kWh

Supply processing facility(CO2 equivalent: Approximately 1,140 t-CO2)

Installation of Solar Power Systems

Research into the use of hydrogen energy

Toward the realization of net zero in 2050

Energy creation

Efficient use of energy

New energy

Use of natural energy

Solar, geothermal, and other forms of energy

Consider use of hydrogen energy, etc.

Environmental data (consolidated)
In FY2022, emissions increased 17.1% (+15,521 t-CO2) year on year, due to a significant increase in terminal activities as air passenger volumes
recovered. Government plans call for 60 million international visitors to come to Japan annually by 2030. Thus, although the level of airport activity
cannot but increase as this goal is achieved, we nevertheless intend to reduce our CO2 emissions and engage in a variety of efforts to achieve net zero
emissions.

Input

Commercial
facilities

Publicfacilities

Mobility

HanedaAirportStorage tanks
Terminal 3

Hydrogenstations

Terminal 2

Ground support
equipment vehicles

Terminal 1Airport facilities

Mobility/railways

Promoting Decarbonization Aimed at Realizing Net Zero Emissions by 2050

FY2022

FY2021

FY2022

152,525MWh

Scope1

9,834t-CO2

Scope1

10,897t-CO2

Diesel oil

176.6KL

264.3KL

Scope280,895t-CO2

Scope2

95,353t-CO2

Gasoline

69KL

85.6KL

Heavy Fuel Oil A

2KL

4.6KL

Kerosene

28KL

36KL

LPG

229t

313.7t3,768 thousand N㎥

3,999 thousand N㎥

401,695GJ

452,803GJ

90,729t-CO2

106,250t-CO2･ Aggregation range: Japan Airport Terminal Group (consolidated)･ Aggregation coverage: Energy-derived CO2 emitted from business activities (Scope1/Scope2)･ Reference: List of calculation methods and emission factors in the Ministry of the Environment Greenhouse
Gas Emissions Calculation and Reporting Manual calculation and report publication system

are pursuing all possible measures to combat climate change.
Specifically, since the effects of conventional energy conservation and solar power generation are expected tobe limited at Haneda Airport due to site constraints, we have conducted a study in cooperation with local

Hiroki Imahama

governments and others on the utilization of hydrogen. This is attracting attention as a next-generation energy

Senior Manager,
Corporate Planning Division
Japan Airport Terminal Co., Ltd.

the airport and in surrounding areas.

Data

41

Factories

realize that the global environment is changing. In order to pass on a better environment to future generations, we

FY2021130,922MWh

City gas

Trucks
Pipelines

Reports of increasingly severe natural disasters and a growing number of extremely hot summer days have made us

Electricity

Steam and cold water

Kawasakiwaterfront area

Area
surrounding
airportVOIC E

OutputCO2 emissions

Hydrogen

Corporate governance

Upgrade energy-saving equipment

Realize net zero using future energy

Six public- and private-sector entities comprising JAT, Airport
Facilities Co., Ltd., ENEOS Corporation, Ota Ward, Kawasaki City,and Deloitte Tohmatsu Consulting LLC, jointly conducted hydrogenusage research that ended in September 2023. It was part of a
project commissioned by the New Energy and Industrial
Technology Development Organization to study the potential forhydrogen production and utilization.
Based on the assumption that CO2-free hydrogen will be
imported to a base in the Kawasaki waterfront area for supply tothe airport and its surroundings, we investigated the potential
demand for hydrogen energy in the area, organized the supply
methods and equipment installation policies necessary to realize
this goal, and verified economic efficiency and GHG reduction
effects.

Materiality Initiatives

We are working to reduce greenhouse gas emissions, from both facility and operational aspects, to reduce our environmental impact. As a corporategroup engaged in the construction, management, and operation of passenger terminals that operate year round, we see this as part of our social
responsibility that is reflected by the Japan Airport Terminal Group Environmental Policy.
To achieve the KPI of a 46% reduction in GHG emissions compared with the FY2013 level, and to achieve net zero emissions by 2050, we plan to
first implement energy conservation measures at Haneda Airport, our main hub. Our focus will be on terminal energy conservation but, because theamount by which we currently can expect to reduce our GHG emissions is limited, we will continue to conduct surveys and studies, assuming the useof renewable energy and new energy over the medium to long term.

Energy conservation

Geothermal heat pumps
Heat pumps with geothermal heat recovery piping areembedded inside building pile foundations to recovergeothermal heat and use it effectively for heating and cooling.

Solar power generation systems have been installed on terminal rooftops.

Main initiatives

Geothermal heat pump chiller

Special Feature

2025

Radi-Cool is an environment-friendly
product that lowers room temperatures
without using energy. It is used on passenger
terminal glass windows, boarding bridges,
and connecting walkways in parking lots.

Installation locations

2030/2050

Acquire ZEB Oriented certification for terminal expansion projects

Introduction of Radi-Cool radiantcooling materials

Promoting Natural Energy

Target Year46% reduction compared with FY2013 (net zero in 2050)

Reduce CO2 emissions

High-efficiency air conditioning equipment

Natural sunshine through a glass ceiling anddimming sensors are used to reduce theamount of electricity used for lighting,thereby reducing the amount of electricity
used for lighting. We also use low-power LED
lighting to conserve energy.

Medium-term Business Plan

Approach

Natural Light and LED Lighting

Value Creation Story

Measures to combat climate change

Materiality

The future we seek

Promoting energy conservation

source. We will continue to cooperate with related parties to study methods for achieving decarbonization, both at

Japan Airport Terminal Report 2023

42

Materiality Initiatives

Measures to combat climate change

Materiality

Risks, opportunities, and impacts associated with climate change

Main initiatives
Response to the TCFD recommendations

Transition
risk

Scenario outlooks･ Major risks that turn into reality include those associated with thetransition to a decarbonized society.
･ WEO *1: APS (Announced Pledge Scenario, Paris Agreement’s goal
achievement scenario)*2

Key scenarios
referred to･ SSP1-2.6*3

Impact on user numbers due to frequent and severe extreme weather events

Acute

Opportunities

Reduced costs attained through more efficient energy use, new technologies, etc.

OthersEnhanced brand value through decarbonization efforts(Resource
efficiency/products andservices/markets)･ As a result of additional measures being not taken, the average
global temperature will rise further by approximately 4°C
compared to the pre-industrial levels.

Usage of policy support for low-carbon companies
Creation of a recycling-oriented system centered on JAT
Enhanced resilience through collaboration with stakeholders and local communities

Measures addressing risks and opportunities･ Major risks that turns into reality include physical risks arising fromclimate change.
･ WEO: STEPS (Stated Environmental Policies Scenario)･ SSP5-8.5✓

Short–medium

1.5℃

Large

✓

Short–long

1.5℃

Large

Short–medium

1.5℃

Medium

✓
✓
✓
✓
✓
✓
✓
✓

Short–medium 1.5℃/4.0℃
Short–long

1.5℃

Large
MediumShort–medium 1.5℃/4.0℃ Medium
Medium–long

4.0℃

Medium

Long

4.0℃

Large

Short–medium

4.0℃

Large
Large

Medium–long

4.0℃

Short–medium

4.0℃

Large

Long

1.5℃

MediumMedium–long 1.5℃/4.0℃

Large

Medium–long

1.5℃

Large

Medium–long

1.5℃

Large

Short–medium 1.5℃/4.0℃
mediumLarge

1.5℃/4.0℃ Medium

Summary
Converting to LED lighting, upgrading air conditioning, introducing AI air conditioning and other energy conservation measures

Transition risk
related

GHG emission
reduction measures

Introducing mega solar power plants and other renewable energy sources, revising the power source procurement mix, and promoting the efficient use of heatsources
Improving environment-friendly performance with ZEB Oriented facilities, the construction of wooden buildings, the use of Radi-Cool radiant cooling material,
etc.
Examining and considering the use of new energy

Strengthening support for airport advanced business continuity planning at Tokyo International Airport, establishing a BCP system, and conducting periodic drills● Airlines and other parties demand the adoption ofrenewable energies and investments in newtechnologies. Alliances and cooperation withpartners become increasingly important.

Physical risks related

Airlines/Airports officials● A wider use of SAF among airlines demands
airports to make relevant investments.

● In the medium-term, more short-distance lines are closed andthe modal shift trend intensifies further. However, passengers
increase in line with the decarbonizaiton of air travel.

● Movement against the expansion of airport land area, etc.,
becomes active due to the possibility of negative impact on
climate change.

● Companies are less preferred when they are slow in adopting
decarbonization measures; companies are better preferred andincrease their brand value when they are active in implementing
decarbonization measures.

● The Importance of climate change initiatives grows for financing
purposes. Financing advantages are given to companies thattake the lead in climate change measures, while they are
required to make a higher level of information disclosure.

Risk management
The Sustainability Committee identifies and assesses climate change-related risks and opportunities, ascertains the impact of climate change on
business, and discusses countermeasures.
Of the climate change-related risks identified by the Sustainability Committee, those that have a significant impact on business and performance
are identified as priority risks and are verified and evaluated by the Risk Management Committee in the same manner as other risks, with revisions
made as necessary. The Board of Directors receives reports on discussions held during Sustainability Committee and Risk Management Committee
meetings, and oversees risk management related to climate change.

Indicators and Targets
Citizens/
Local Communities/
Investors ...etc.

Physical risks (acute)A negative impact is exerted on the number ofusers by flooding and damages caused to runways
and airport-related facilities as a result of majorchanges in weather patterns, etc., arising fromrising temperatures and increased precipitation.

Increased frequency and severity of extreme weather events lead to an increase in air conditioning
energy costs, tighter power demand, temporary suspension of airport operations, and frequent
flight cancellations and delayed departures/arrivals, exerting a negative impact on the number ofusers. Stronger resilience is required to be achieved through supply chain management and BCP
reviews. Airports gain their importance as they are deemed as regional disaster prevention bases.

* 1 World Energy Outlook (investigative report issued by IEA)
* 2 In the analysis, we mainly used the Announced Pledges Scenario (APS). In addition to APS, we partly referred to the Net Zero Emissions Scenario (NZE) as another scenario in which thetemperature rise is limited to 1.5°C or less from the pre-industrial levels.
* 3 In the analysis, we mainly used the SSP1-2.6 scenario. In addition to this, we partly referred to the SSP1-1.9 scenario as another scenario in which the temperature rise is limited to 1.5°C orless from the pre-industrial levels.

CO2 emission (Scope1 , Scope2 ) reduction targets
12
10

FY2021 results

102,000 tonnes

84,005t-CO2

vs. 2013 level

-46%

8

55,000 tonnes

6
4

FY2022 results

20

Net zero
2013

2030

98,596t-CO2

Data

Physical risks (chronic)

In terms of KPIs for measures to combat climate change, we have set
long-term targets to reduce Scope 1 and Scope 2* GHG emissions by
46% from FY2013 levels by FY2030, and to achieve carbon neutrality
by 2050.
We have been working with stakeholders at Haneda Airport to
reduce our environmental impact within the framework of the Tokyo
International Airport Eco-Airport Council, a body established by the
Ministry of Land, Infrastructure, Transport and Tourism’s Civil
Aviation Bureau. Over the short to medium term, we will promoteenergy conservation measures at terminals but, since the effects ofthese measures are limited, we will also promote surveys and studies
over the medium to long term on the utilization of hydrogen energy.

Corporate governanceAirportThe full text of the information disclosure based on TCFD recommendations can be found at

Implementing thorough infection control measures and non-contact sales using robots and digital technologies
Overall optimization of procurement and production logistics, including supply chain redundancy● A delay in taking climate change measures may
result in lower reputation among tenant, etc., and arise in the vacancy rate.

● An adoption of various decarbonization support measures (investment
subsidies, planning support, etc.) encourages active investment inenergy saving and new energies. Some expect that encouraging
decarbonization investments will lead to new business opportunities,
including a higher preference for the company.

Effectively utilizing resources (providing materials and equipment from Haneda Airport to local and participating airports, etc.) and commercializing waste
control (collection of waste oil for use as biofuel, etc.)

Materiality Initiatives● Increased carbon-offset and other costs due to theimposition of taxes and carbon duties on the use of
aircraft.

Goverment

Physical risks under the 4.0°C scenario

✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓

Contributions to decarbonization and securing new sources of revenue

Degreeofimpact* Short: by fiscal 2025, medium: by fiscal 2030, and long: by 2050.

Other● Airports are allowed to generate CORSIA-certified
credits. Some airports begin to sell these credits.

Customers/Competitors

Damage to facilities, flooding, and other impairments caused by frequent and severe extreme weather events

GHG emission
reduction measures(Energy sources)

Outlook assumption details (present–2050)
Transition risks under the 1.5°C scenario

Loss of reputation among tenants, partners, customers, suppliers, and employees due to late environmental responses

Relevant
scenario

Special Feature

Scenario
overview

Slower growth in the number of passengers using airports due to policy measures that adversely impact air travel demand

Impact of infectious disease outbreaks due to changes in climate patterns

Physical risks

4.0°C scenario

Increased investment costs for climate change measures due to the introduction of renewable and new energy sources, etc.

Supply chain disruptions due to severe and frequent extreme weather events

Strategy
To assess the impact of climate change on Group business, we conducted an analysis using the following two scenarios.
In setting the scenarios, we referred to the scenarios published by the International Energy Agency (IEA) and the Intergovernmental Panel on
Climate Change (IPCC) scenarios.

Increased costs due to climate change-related laws and regulations (plastic and other resource recycling and procurement thattakes into consideration natural capital, etc.)✓✓

Timeline*

Merchandise,food,and beverage

Medium-term Business Plan

Physicalrisks

Increased costs due to climate change-related regulations (increased construction costs due to environment-related
regulations, etc.)

Impact of sea level rise on airport transportation access

Chronic

The Sustainability Committee, chaired by the president and representative director, is responsible for formulating policies and managing the progressof climate change-related initiatives. After the initiatives are deliberated by the Sustainability Committee, the Executive Committee discusses theirrelationship to, and consistency with, management strategy. This is then reported to the Board of Directors for resolution. The execution status ofplans and initiatives is reported to the Board of Directors once every six months, and revised as necessary.

Key scenarios
referred to

GHG emission
reduction measures(Policy andlaw/technology)
Others(Market/Reputation)

Governance･ As a result of drastic measures having been taken effectively, a
decarbonized society is achieved, limiting the rise in the global
temperature to 1.5°C from the pre-industrial levels.

Facilities

Increased terminal operating costs and raw material procurement and logistics costs associated with the introduction of carbon
pricing

Information disclosure based on TCFD recommendations

Scenario
overview

Summary

Value Creation Story

In September 2022, we declared our endorsement of Task Force on Climate-Related Financial
Disclosure (TCFD) recommendations, as climate change countermeasures are an importantmanagement issue for realizing an environment-friendly airport as stated in our Medium-term
Business Plan. We also joined the TCFD Consortium, which serves as a forum for monitoringclimate-related trends and gathering information to improve and enhance information disclosure.

1.5°C scenario

Segment

Risk andopportunity categories

The future we seek

This analysis covers our core businesses, facilities management, as well as merchandise, food, and beverage operations (a category that includes boththe merchandise sales and the food and beverage categories. We identified risks and opportunities, evaluated their impact, and formulated risk
countermeasures based on the impact of global warming of 1.5°C and 4.0°C above pre-industrial levels.
The degree of impact on our business is evaluated as large, medium, and small. The impact that affects overall airport operations and terminal
functions is defined as large; that affecting only some airport operations and having an indirect impact is defined as medium; and that which isconsidered a risk, but which has only a minor impact, is recognized as small.

2050* Scope of targets: The volume of CO2 emitted by the Group in the premises of Haneda Airport(excluding emissions from airport vehicles owned by the Group in the Haneda Airport).
Scope of emissions: CO2 derived from energy consumed in-house during business operation.

https://www.tokyo-airport-bldg.co.jp/files/en/sustainability/InformationDisclosureBasedonTCFDRecommendations.pdf

43Japan Airport Terminal Report 2023

44

Materiality Initiatives

Effective use of limited resources

Approach

Initiatives

Waste reduction/resource
recycling

Target Year

Offering of ethical products at all directly managed (JAT’s select) stores

2025

Introduction of wooden structure/interior decoration to T1 satellite in the terminal expansion project

2025

Identification of issues for reducing food waste in the Group’s restaurant business and setting of
FY2025 targets

2023

Closed-loop recycling of all PET bottles collected at terminals

2025

To make effective use of limited resources and reduce environmental impacts, the Group is committed to resource recycling and waste reduction
based on the reduce, reuse, recycle (3R) concept. Further, we aim to meet user needs and conduct business giving consideration to biodiversity as we
expand the range of ethical products we handle, including environment-friendly merchandise, such as upcycled items and certified products.

R euseR ecycle

Use resources effectively

Create recycling systems

Effective use of water and other resources

Promote sorting and recycling

45

Bottles, cans, PET bottles

Water
treatment

Rainwater

Reusedfor toilets

Ethical Products at Haneda Airport

Sweets made with upcycled skim milk.

Human and environmentally friendly soap using
only pure plant-based ingredients that supports thesocial independence of people with disabilities.

developing upcycled items using some of the fabric,equipment, and parts airline companies usually throw
away. At an event held inside Haneda Airport in FY2023,
many customers bought upcycled products, which is

Wastewater treatment facilities

Kitchen wastewater, miscellaneous wastewater

Reuse of gray water

Food waste disposers
Collections and drop-offs

Airport Clean Center
Incineration

Cardboard

In-flight meal preparation
facilities, etc.

Kitchenwastewater

In terms of ethical products used only at airports, we are

Rainwater

Combustibles

Circular regeneration flow in wastewater

Collections and drop-offs

Airport Clean Center (recycling building)
Separation and compaction

Partial heat recovery
RecycleYoko Moriai
Director,
Sales Management Division
Haneda Airport Enterprise Co., Ltd.

evidence of our success in communicating their appeal. In
the future, we will focus on product concepts anddevelopment, so that people can participate in ethicalconsumption by purchasing Haneda Airport products.

Keyholders made of usedscarf material

Pen case made of upcycled
seat fabricData

In-flight garbage

We treat kitchen wastewater, miscellaneous wastewater, and rainwater fromterminals, to create gray water and effectively use water resources. The graywater produced is used for flushing toilets.

Proposing ethical products specific to airports

The JAT Group has established a resource recycling system. Water used in terminals is treated at the wastewater treatment facility, while waste andother materials are processed at the airport cleaning center operated by Group company Sakura Shokai.
In addition to waste from terminal buildings at Haneda Airport, the Airport Clean Center also receives waste from hotels, factories, and otherfacilities in the Haneda area.

Food waste

December 21, 2020

VOIC EJAT Group resource recycling system

Passenger terminal buildings,
parking lots, airport businesses, etc.

Up to 4.8 tonnes/day (can, glass bottle, and PET bottle sorting and compressing

Start of operations

Corporate governance

Reduce the use of plastics
Switch to environment-friendly materials, etc.

Processing Capacity

Materiality Initiatives

3R initiatives aimed at reducing environmental impacts and enhancing consideration for biodiversity

R educe

Using microorganisms that exhibit high processing capacity atroom temperature, disposers repeatedly stir and spray water onwaste for a set period of time to break it down into ammonia
water and carbon dioxide gas. With almost no residue left at thisstage, the waste isdischarged into sewers (orpurification facilities)
within about 24 hours, andis treated as gray water at
wastewater treatment
facilities. In addition to
reducing CO2 emissions by
incinerating food waste,
treated water is reused forflushing toilets.

As a Company selling merchandise at the
gateway to Japan, we recognize that an
important role of the Group is to provide
customers in Japan and from around theworld with ethical products. In addition
to developing such items, we also are
striving to help realize a sustainable
society throughout the supply chain bybuilding cooperative relationships withour business partners.

Main facility: 600 m2

Facility size

Effective use of recycled water

Installation of fully automatedvanishing-type food waste disposers

Developing ethical products

Main initiatives

Recycling facility overview

Special Feature

Introduction of
eco-friendly materials andmerchandise

Major KPIs (Key Performance Indicators)

Recycling building

Medium-term Business Plan

In the construction, management, and operation of facilities, as well as the operation of merchandise stores and restaurants, theGroup uses building materials, plastics, water, and many other resources, while generating construction scrap, food residue,
collected garbage, and other types of waste. JAT recognizes that the effective use of limited resources, including efforts to minimize
environmental impacts by establishing recycling-oriented systems that incorporate the supply chain, and meeting user needs forenvironmentally friendly products, are critical issues for continuing business as an eco-friendly airport.

Waste incineration facility

Value Creation Story

Materiality

Group company Sakura Shokai has been engaged in the collection,transportation, and processing of waste generated at Tokyo
International Airport since its establishment in 1946. Sakura Shokai
operates the Tokyo International Airport Clean Center, an incineration
facility for waste generated at the airport. It also acquired ISO 14001
certification in June 2003. Energy derived from incinerating waste
supplements facility power and is used throughout the premises in aneffort to conserve energy.
In terms of environmental measures focused onsite at Haneda
Airport and in surrounding municipalities, the Tokyo International
Airport Clean Center recycling building commenced operation in
December 2020. It is designed to efficiently process cans, glass
bottles, PET bottles, and other items, thereby contributing to theformation of a recycling-oriented society.

The future we seek

Tokyo International Airport Clean Center

Note: Ethical products include those items that reduce food loss, are made from recycled materials, have acquired certification labels and marks, and support the idea of local production for local
consumption, as well as fair trade, organic, alternative meat, and alternative dairy products.

Japan Airport Terminal Report 2023

46

Materiality Initiatives

Development of a safe, comfortable and advanced airport

The Group’s core business and social mission is to provide the safe and comfortable operation of airports as public infrastructure
supporting society and the economy through the movement of people. As the number of users, such as visitors to Japan fromabroad, the elderly, and people with disabilities is expected to increase in the future, JAT recognizes that providing safe andcomfortable transportation, that incorporates DX and advanced technologies, for a variety of users is essential for realizing
sustainable growth.

Initiatives

Target Year

Enhanced terminal
functionality

Consecutive awarding of 5-Star Airport rating by Skytrax (for which terminal expansion, smootherpassenger flows, enhanced signage, diverse commercial facilities, and other aspects were evaluated).

Annually,
ongoing

Assurance of safety andsecurity

Consecutive awarding of #1 rating by Skytrax in the World's Cleanest Airport category

Annually,
ongoing

Implementation of disaster drills, etc. (150 times/year; 3,000 total participants/year)

Annually,
ongoing

Promotion of universal
designConsecutive awarding of #1 rating by Skytrax in the Best PRM & Accessible Facilities category

Annually,
ongoing

Completion of initiatives to introduce mobile electric carts and self-driving wheelchairs to all terminals

2025

The JAT Group’s management policy is to operate passenger terminals in a customer-centered manner, focusing on convenience, comfort, andfunctionality. In addition to adhering to the customer first principle, we incorporate the concept of universal design into our facilities and services, toensure that customers who come from around Japan and across the world are able to use our facilities and services in comfort and with peace ofmind.
Writtencommunication
support boards

Calm-down/Cooldown spaces

Prayer rooms

Cleaning

Distribution Drills

JAT employs a large number of building
cleaning specialists who are nationallycertified in cleaning techniques and leverage
our accumulated know-how in their dailycleaning activities.

We conduct periodic response drills andstockpile emergency food supplies, blankets,
temporary toilets, and other supplies forcustomers who might remain in the terminal
when a disaster occurs.

Introduction of WHILL self-driving
wheelchairs

TOPICS

Main initiatives
Airport ranking by a professional airline industry research firm
For nine consecutive years, UK-based Skytrax has awarded Haneda Airport Passenger Terminal a 5-Star Airport rating, the highest level in its World
Airport Star Rating evaluation system. The terminal also ranked third in the World’s Best Airport category (overall evaluation of global airports) at the2023 World Airport Awards, in addition to ranking first in three other categories.
All airport staff are well aware that Haneda Airport is the gateway to Japan. Further, based on management policies ensuring absolute safety andcustomer-centered terminal operations, our aim is that Haneda Airport should continue to be the trusted choice of customers and airline personnel
from around the world.

World Airport Star Rating

World's Best
Domestic Airport

World's BestPRM* & Accessible Facilities(Category evaluating airport
cleanliness, etc.)(Category evaluating domestic
airports overall)(Category evaluating PRM
responses)

World’s #1

World’s #1

World’s #1

for 8 consecutive
years

for 11 consecutive
years

Providing customers from around the world with warm service
As the gateway to Japan, we at Haneda Airport are committed to providing
hospitality to all customers. We strive to operate customer-centered passenger
terminals, bearing in mind passenger convenience and comfort, as well as

for 5 consecutive
years* Persons with Reduced Mobility

Skytrax is a global airline industry rating company established in 1989 and based in London, England. It conducts independent audits and passenger satisfaction surveys on airlines and airports around theworld, and publishes its ratings of airlines and international aviation in various countries. The World Airport Star Rating recognizes airports that achieve comprehensive quality performance with the world’s
highest rating of 5 Star Airport, the mark of top quality.
Further, the World Airport Awards, a multifaceted category that evaluates quality and is positioned as a global benchmark, announces the ranking of more than 550 international airports based on votes
submitted by average passengers in an online survey conducted each year.

47

VOIC E

infrastructure functionality.
We provide guidance that is tailored to each customer’s needs, and assist

Yuri Saito
Assistant Manager,
Domestic Area Team
Airport Concierge Group
Passenger Service Department
Haneda Passenger Service Co., Ltd.

wheelchair users and the visually impaired. Based on the concept of universal design,
we ensure that all customers can use the airport with peace of mind.

DataAwarded for nineconsecutive years

World's Cleanest
Airport

The WHILL Autonomous Service provides personal
mobility vehicles, equipped with automateddriving systems, to ferry passengers to boarding
gates, thereby providing safe, comfortable, andseamless transfers. After use, wheelchairs
automatically return to their original location.

Corporate governance

We provide spaces for people with
developmental and intellectual disabilities,
mental disorders, dementia, and otherconditions who need to block out externalsounds as much as possible and calm down.

Materiality Initiatives

Prayer rooms have been set up in theinternational terminal so that foreign visitors
to Japan can use the airport with peace ofmind.

We make tools available for customers whowish to communicate in ways other than the
spoken word, as well as for those from othercountries.

Special Feature

Major KPIs (Key Performance Indicators)

Customer-centered passenger terminal operations

Medium-term Business Plan

Approach

In September 2023, we held a comprehensive
disaster-preparedness drill at our Terminal 2 building inwhich approximately 213 employees from 70 offices,
including those of airline companies, participated. This
was the first time in four years that a large number ofpeople were able to participate in a drill at Terminal 2.
Sounding an earthquake early warning alarm as astart signal, we conducted initial response drills andfire extinguisher handling drills based on an earthquake
scenario. Additionally, for the first time, the training incorporated use of Live 119, whichallows callers to transmit images of the emergency scene to the Tokyo Fire Departmentcommand center while receiving verbal guidance from center staff viewing the images. These
efforts were aimed at raising awareness of disaster prevention and improving response
capabilities.

Value Creation Story

Materiality

Terminal 2 disaster-preparedness drill

The JAT Group, responsible for the management andoperation of public passenger terminals, has establisheda thorough security system based first and foremost on
a policy of establishing the absolute safety of passenger
terminals.
To ensure our continuity of business and terminal
operations in the event of an emergency, we have
prepared disaster responses, secured stockpiles, andimplemented other countermeasures at facilities. We
also are working to foster and increase awareness of
disaster prevention by developing a business continuity
plan and conducting various drills.

The future we seek

Establishing absolute safety

I find it very rewarding to be able to satisfy a wide variety of customer needs byproviding services optimized for different people, places, and situations. We willcontinue providing customers from around the world with our warm service.

Japan Airport Terminal Report 2023

48

Materiality Initiatives

Materiality

Introduction of robot technologies at Haneda Airport

Initiatives

Major KPIs (Key Performance Indicators)

Target year

Use of digital technologies

Expand introduction of digital and robotics technologies in five categories, (1) cleaning; (2)guidance/translation; (3) mobility support; (4) security; and (5) merchandise/food and beverages.

2025

As part of our efforts to contribute to the creation of a safe, comfortable, and technologically advanced airport, we set KPIs for the introduction ofrobot technologies in five categories: cleaning, guidance/translation, mobility support, security, and merchandise/food and beverage. Currently, we
are introducing these technologies at Haneda Airport.
Mobility support

Guidance/translation

WHILL introduced in 2020mini MORK introduced in 2021

Role:

Role:

Installation area: Terminal 1 and 2 information counters, etc.

Installation area: Terminal 1 and 2 security areas

Use of robotics technologies at Haneda Airport
Haneda Robotics Lab (HRL), established by JAT in 2016, utilizes Japan’s most advanced robotics technologies
to resolve social issues with the aim of (1) improving personnel and operational efficiency, (2) reducing
employee workloads, (3) improving passenger experience and convenience, and (4) expanding this initiative
to other airports and applications.

Effects:

Reduces staff workloads throughuse of automatic return function

Effects:

Achieves overall optimization of concierge
allocation, promotes work style reforms

Manufacturer:

WHILL, Inc.

Manufacturer:

Indy Associates Co., Ltd.

Security

2
3

Even as Japan’s working population is decreasing, we provide safe, secure,convenient, and high quality services for airport users by leveraging newtechnologies to meet the needs of diverse overseas and domestic customers fromJapan and abroad.
We plan to use robots to create safer, healthier work environments for airport
employees.

Gelobnerabie l Rs estaura
nts

Step 1 Demonstration
experiment

Test

Step 2 introduction

First IPO (2016)

Role:

Step 3 Introduction

Autonomous cleaning of carpeted
floorsTerminal 1 and 2 general lobbies andInstallation area: security areas

Second IPO (2017)

January 2024 (planned)

Effects:

Reduces workloads and improves
work efficiency in cleaning during
off-peak hours

Manufacturer:

Kukan Co., Ltd.

Seven machine types
Second IPO
Seventeen machine types
First IPO

2017

Demonstration
experiment2018

For cleaning, guidance,translation, andmobility support

2019

Effects:

Reduces staff workloads

Manufacturer:

Pudu Robotics Japan Co., Ltd.

2020

2023

2024

Role:

Autonomous cleaning of tile floors

Installation area: Terminal 1 and 2 general lobbies
Effects:

Reduces workloads and improves work efficiency in cleaning
during off-peak hours

Manufacturer:

Amano Corporation

In line with labor shortages and other societal changes, airport operations are facing a number of challenges. To help
resolve the issues, we have introduced cleaning robots, guidance robots, and automated personal mobility driving

Yuta Nakajima
2022

EGrobo introduced in 2019

Using technologies to improve airport operational efficiency, reduce burdens, andenhance passenger experienceterminal.0, JAT’s new demonstration
field, opened near the passenger
terminals.

2021

Cleaning

Assistant Manager,
Business Marketing Division
Japan Airport Terminal Co., Ltd.

systems. With an eye on future developments in AI and digital applications, we will increase our research incollaboration with several partners, and promote efforts to set up systems that enable airport workers to engage in

Data

2016

Demonstration
experimentGroup directly managed restaurants

Installation area: (limited to certain locations)

VOIC E

Introduction
Test
introduction

HRL
inauguration

Automated food delivery and serving

Corporate governanceIn recognition of our introduction, in 2020,of self-driving wheelchairs and remote
guidance robots as part of our infection
countermeasures, and our participation in
the development and demonstration
testing of masks equipped with translation
functions, JAT was awarded the Special
Prize at the Cool Japan Matching Awards
2021.

Demonstration
experiment

Role:

Cleaning

Vacuum40 introduced in 2022
Introduction
procedure

Bellabot introduced in 2022

Materiality Initiatives

Progression of robotics technology Usage

Merchandise/food and beverages

Special FeatureSecua re r i t yas

We will disseminate information, at home and abroad, on the cutting-edge
robotics technologies used at Haneda Airport. In this way, we will help revitalize
the domestic robotics industry.

Since 2016, we have conducted numerous demonstration experiments using robots for guidance, transfers, and cleaning on thefront lines of passenger airports. We aim to ensure the reliable operation of robotics technologies by working with manufacturers
and other parties.

49

Verification planned
from FY2023

所
案内

Medium-term Business Plan

on
ati
form
●In

1

Information services

Value Creation Story

Main initiatives

Passenger transportation
supportThe future we seek

Development of a safe, comfortable and advanced
airport: Robotics

airport operations in a healthier and more rewarding manner, while at the same time improving productivity.

Japan Airport Terminal Report 2023

50

Materiality Initiatives

Offensive DX

Store and Warehouse Innovations to Improve Personnel Efficiency and Sales

JAT aims to achieve a three-way benefit, by increasing staff efficiency, sales, and customer satisfaction. This will be done through theintroduction of both labor-saving technology in store operations, and robotic warehouses using RFID wireless system technology.

Overview

Store and warehouse innovations (Overview)

In realizing our long-term vision, we recognize that the use of digital technologies is indispensable if we are to make Haneda Airport’s functions andservices the best in the world.
To this end, we are pursuing digital transformation (DX) using two approaches: offensive DX, to achieve business transformation; and defensive
DX, to realize greater efficiency of existing operations by using digital technologies.

Digital Measures
StoresAchievable●

Streamline cash register operations toeliminate checkout lines●

Provide cutting-edge customer
experiences●

To Be a World Best Airport

Introduce robotic warehouses

Potential for RFID inventory
management●

Signiﬁcantly reduces time required forinventory operations—To be the world’s most respected airport, pursuing the satisfaction of all stakeholders—

Haneda DX Vision 2025

Our vision is to help support the sustainable growth of Japan through the application ofdigital technologies. This would allow us to innovate operations and enhance customer
experience, with a view to being considered the world’s best airport by users.

Restructuring Indirect Operations

To achieve data-driven management, we aim to improve the efficiency of indirect personnel by updating and optimizing operational
backbone systems and revising business processes.

Current status and ideal state of indirect operations
At present

Data-driven
management

Offensive

Acquire congestion
information

Haneda member
services

ONE ID

Digital signage
Understand customer
satisfaction

Dashboard

Frontline personnel
efficiency

Defensive

Indirect operation
reforms

Store operation improvements

Backbone operations system updates, improvements

Backbone operations system improvements

Digital-based business processes

Fails to acquire and/or integrate necessary data

Optimize functions by eliminating inefficiencies
and deficiencies

Airport information anddata

Decentralized and individualized

Compile data, create database

Inefficient, data collected on case-by-case basis

Make data easily accessible

Operational processes

Streamline and optimize
Improve productivity by leveraging digital

Benefits

Compiles a wide variety of
airport information

Passenger numbers, trends, etc.

Customer satisfaction/needs information
Customer feedback, etc.

Store information
Sales/product mix trends, etc.

(database)

Latest facility information●

Overall (mass)
Digital signage●

One-to-one (personal)
ONE ID
Haneda App

Maintenance andmanagement center● Disaster prevention
center● Passenger service
center● Head ofﬁce, stores●

Business innovations anddeeper customer experiences

Under the direct supervision of the president, in July 2022 we set up the Digital Business Office. It carries out comprehensive,
Company-wide offensive and defensive DX strategies.
Further, to steadily develop human resources who will support the promotion of DX, we have formulated a DX human resource
development plan. We aim to implement this in the second half of FY2023.

VOIC E

Improved customer
satisfaction

DX for Airport CS and Convenience
Although Haneda Airport offers a wide range of services that are used by a variety of customers and employees,
each system operates as a silo. We recognize that these systems are lacking in terms of providing consistent airport

Enhanced operational
efficiency andoptimization

experience.
Accordingly, from the perspective of DX, our goal is to build a platform to centrally manage decentralized data.

Takaharu Otsuka
Digital Business Office
Japan Airport Terminal Co., Ltd.

At the same time, we wish to enable users to quickly and easily obtain the information they need to improve thesatisfaction and convenience they derive from their airport experience, while increasing our profitability.

Data

Data compilation

Employees

Customers

Congestion information

Provides information forcustomers and employees

Promotion structure and DX human resource development

Corporate governance

Data Compilation (image)

Offensive and Defensive

Materiality Initiatives

Aim to improve efficiency of indirect personnel
by shrinking man-hours for simple tasks

Data-driven management

We will create a Haneda Airport data base that is easy to use, permits upgrading of airport functions and services, and employs
data-driven management.

51

Inefficient
Relies heavily on manpower

Declining operational
efficiency

Ideal business
operations

Offensive DX

Update and improve

Aging, lacks functionality

Operational backbone
systems

Special Feature

Offensive

Ideal stateMedium-term Business Plan

Defensive DX

Improves personnel
efficiency, sales,
and customer
satisfaction

Value Creation Story

Introduce labor-saving
technologies in store operations

Long-term vision
Warehouses

Benefits

The future we seek

Development of a safe, comfortable and advanced
airport: DX

Materiality

We are also working to raise organizational awareness and develop a large number of individuals able to use thisdata to plan and implement operational improvements and new services.

Japan Airport Terminal Report 2023

52

Materiality Initiatives

Gourmet fair introducing
southern Hokkaido specialty
foods

Events held in FY2022

Materiality

eventsSimulated Shikoku 88
Buddhist temples pilgrimage
sand stepping

Contribution to local and regional communities
Kirishima Fair

The JAT Group maintains positive relationships with the regions in which it operates, including metropolitan Tokyo and Tokyo’s Ota
Ward. The ties are supported by the movement of people among various regional cities and the Tokyo area.
We recognize that maximizing use of the Haneda Airport terminal helps ensure the Company’s sustainable growth. This isbecause the terminal serves a broad swath of customers as a space facilitating interaction with local communities and residents,
and to communicate the attractiveness of the airport.

Initiatives

Benefit-sharing with local
communities

Target Year

Install permanent local specialty stores in the premises of Haneda Airport within
FY2023; hold promotional campaigns at event spaces at least 24 times a year.

Annually,
ongoing

Provide know-how acquired in the Haneda Airport and products (robots, etc.) installed
therein to overseas airports and other facilities at the rate of 50 cases a year.

2025

Continue providing airport tours and work experience programs for more than 1,000 participants,
including elementary and junior high school students from Ota Ward and other areas.

Annually,
ongoingGrand opening of the HICity (contribution to the local communities by providing
medical services, creating vibrancy, offering a traffic hub, etc.

2023

Miyazaki Mango & Tourism
Fair

Gourmet fair introducing southern Hokkaido specialty foods Sponsor: JAT; Backer: Hokkaido Government; Supporter: The Hokkaido Shimbun Press
Gems of Toyosu Market and local Tokyo products

Sponsor: JAT; Supporter: Bureau of Industrial and Labor Affairs, Tokyo Metropolitan Government

Simulated Shikoku 88 Buddhist temples pilgrimage sand stepping

Sponsor: JTB Yokohama Branch, Shikoku 88 Sacred Sites (Inc.); Supporter: JAT, Organization for Promotion of Tourism in SHIKOKU, Japan Airlines, and All Nippon Airways

Miyazaki Mango & Tourism Fair

Sponsor: Miyazaki Prefecture, JAT, and Japan Airlines

Kirishima Fair

Sponsor: Haneda Future Research Institute, Nihon Sanchoku-kuyu, and Kirisima City, Kagoshima Prefecture

Product & Sightseeing Fair featuring products from Kumejima
Town, Kunigami, Ogimi, and Higashi Village, Okinawa Prefecture

Sponsor: Kumejima Town, Kunigami, Ogimi, and Higashi Village, Okinawa Prefecture, JAT, Japan Transocean Air, and Japan Airlines

TOPICS●●

Potential of Haneda Airport, usedby 80 million domestic andinternational travelers
Discovery and dissemination ofJapanese manufacturing andbrandsMain Points of Collaboration
1. Enhanced sightseeing guidance and information
communication targeting visitors to Japan.
2. Business related to regional revitalization centered on
exchange of goods, experiences, and opportunities.
3. Creation of transit-based travel routes from Haneda
Airport for transit passengers and other travelers.

Welcome Center

4. Educational opportunities utilizing the airport for events
combining culture and careers.

●

Networking with other regions
throughout Japan●

Fostering interaction through local
specialties, tourist attractions, andappeal●Co-create business using Haneda Airport as a starting point to develop
new appeal, interactions, and enhanced Japan experience value.
53

Haneda Tour Program

Haneda Innovation CityIn December 2022, Group company Haneda
Future Research Institute concluded acomprehensive collaboration agreement with
Kagoshima Prefecture, as part of a Groupeffort to promote regional development.

JAT offers programs to provide local schools
and organizations with an overview ofHaneda Airport. The professions andoccupations supporting airport operations
are explained, as is their career potential.

We are also participating in the Haneda
Innovation City project adjacent to Haneda
Airport. This public–private partnershipproject in Tokyo’s Ota Ward is operated byHaneda Mirai Kaihatsu Co., Ltd.

VOIC E
Creating Spaces, Linking Local Communities and Customers
Wakuraba, a store and café in Haneda Airport Terminal 2, provides
information and creates a space for connecting with customers. It helps themlearn about areas with which they are unfamiliar but wish to visit. Given that
all the store staff are knowledgeable about the various regions of Japan andtheir local products, we are well placed to provide meticulous customer

Rena Shimizu

Data

Potential to facilitate productive
experiences and opportunities.

Agreement with Local Government

Corporate governance

JAT concluded a comprehensive business collaborationagreement in March 2020 with JTB Corporation, which runs abusiness mostly in the travel industry. The agreement isdesigned to improve Haneda Airport functions and facilitatebusiness creation, thereby enhancing the airport’s appeal,
fostering interaction, and enhancing the value of the airport
experience.

Materiality Initiatives

Main initiatives
Collaboration aimed regional andregional revitalization

Special Feature

Creating interaction withlocal communities

Major KPIs (Key Performance Indicators)

Product & Sightseeing Fairfeaturing products from
Kumejima Town, Kunigami,
Ogimi, and Higashi Village,
Okinawa Prefecture

Medium-term Business Plan

ApproachGems of Toyosu Market andlocal Tokyo products

Value Creation Story

37

The future we seek

Events with Local Communities
JAT regularly uses Haneda Airport as the venue for events held in conjunction withdomestic local governments and airline companies. We contribute to regional
revitalization by communicating the appeal of regions as we promote tourism anddistribute local specialty products.

service. In this small way, we are helping revitalize localities.
Customers sometimes give us feedback after they have visited a place

Regional Revitalization
Business Department

recommended by our staff. The stories are invariably happy ones that make us

Haneda Future ResearchInstitute Incorporated

realize we have successfully connected customers with local communities.

Wakuraba exterior

Japan Airport Terminal Report 2023

54

Materiality Initiatives

Think and take on challenges on their own
Education and training systems
Since JAT recognizes human resources as the most important element of the Company, we have established various educational and training
programs to develop human resources who think and take on challenges on their own. We intend to realize customer-centered terminal operations
and maintain sustainable growth, thus contributing to the realization of our management strategies. This is in addition to the training programs weprovide, such as position-based training and CS seminars that impart the basic knowledge with which Group employees should be equipped.

Human Resource Development• In-house seminars for knowledge acquisition

Professionals with
airport-specific knowledge
and experience• Intra-Group secondment (frontline experience)• Outside secondment (outside Company)

Ongoing learning and growthat all levels

To realize our long-term vision of becoming a World Best Airport, we recognize that human resources are our most important formof capital. We also recognize that, in order to realize sustainable Group growth, we must promote human resource development.
This includes career development support, so that human resources might be transformed into professionals, and workplaceenvironment improvement to enhance employee engagement.

Self-reliant human resources
with drive, sense of purpose• Career seminars for older employees• Diversity and inclusion seminars• Training to accommodate people with disabilities• Expansion and development of environment
facilitating the hiring of people with disabilities• Introduction of a multi-track personnel system

Human resources andorganizations promoting DX
strategies• Reskilling Recurrent Program• Trial implementation of system for holding down asecond or concurrent job• Promotion of digital human resource• Formulation of a DX human resource development
plan• Strengthening of in-house IT literacy• Participate in industry-to-industry-to-academia
collaborative projects• Make most of learning opportunities• Enroll in Master of Business Administration (MBA)programs• Benefit from expansion of in-house open
recruitment system

Training Systems
Initiatives

Improving Employee
Engagement

Performance
management

Active recruitment and training of human resources with diverse skills.
Creation of innovative businesses and improvement of business operations throughcross-industry/industry-academia collaboration and secondment of personnel to outside entities.

Performance
management

Embedding of internal branding activities (Plus One Promotion) into the mindset of all JAT Group executives
to promote the development of human resources who can think and take on challenges on their own.

2025

Increases
specialization

FY2023 introduction

DX human resource
development (3)Introduced in FY 2022
Conventional training

DX human resource
development (1)Professionals withknowledge andexperience specificto airport
operations.

To Be a World Best Airport—To be the world’s most respected airport, pursuing the satisfaction of all stakeholders—Establishing a foundation for regrowth

Leading airport company

Developing airport businessChange Reform and innovation

Growth Grow and Evolve

Strengthen earnings power by moving away from a profit
structure dependent on airline demand, including newly
developed businesses.

Improve quality and efficiency of products and services
to enhance Haneda Airport functions.

Human resources withindependence andAn organization ininitiative who can act which diverse humanwith a clear sense ofresources withpurpose.
different
backgrounds candemonstrate theirabilities.

Knowledge acquisition
in-house seminars
Training to accommodate
people with disabilities

Cyber security

Level-based training

Tourism seminars

PC skills
improvement training(basic)Various CS seminars
Compliance seminars
Newly hired
employee training

Video training

FY2022:

Cross-industrial
exchange training(accounting, tax exemptions)

Online language
training(English, Chinese, Korean)(sign language, English
conversation)

Improves
foundational
capabilities

20 participants in total

Annualimprovements

Number of employees transferred to externalorganizations

Administrative
training

Learning room

FY2022:Can decide
for oneself

18

Annualimprovements

Participation in the Learning room in-house academy

FY2022: seven courses,

30 participants

Annualimprovements

Participation in in-house knowledge acquisition
seminars

FY2022:

220

Annualimprovements

IT literacy education• Introduction of digital promotion team leader
meeting system• Participants in PC skill improvement training

FY2022:129 participants in total

Annualimprovements

VOIC E
Aiming to Continue Growing

Expanding earnings base

Expand Take on challenges

In this era of rapid change, it is important to develop human resources and for our organization to support the

Secure human resources equipped with new ideas andthe ability to execute in a changing business environment,
while establishing a financial base facilitating stablebusiness continuity.

operation of airports where a broad variety of people come and go. We have introduced wide-ranging systems tocreate an environment in which people can work with peace of mind and pride, as well as spaces for autonomous

55

Human resource
development policy

Think and take on challenges on their own

Internal environment
development policy

Corporate Culture Enhances Diverse Human Resources

Human resourcesand organizations
promoting DX
strategies.

Mayuko Hattori
Director,
Human Resources & Labor Welfare Division
Japan Airport Terminal Co., Ltd.

With this new step, we aim to create an organization in which all generations can continue to learn and grow,Datalearning, which starts with improving basic skills.
An organization that
continues to learn
and grow on all levels

Corporate governance

Responsible for the construction, management, and operation of public passenger terminals, the JAT Group aims to have management balance public
good and business success by engaging in a variety of business activities at airport terminals. These include facility management and operations,merchandise sales, as well as food and beverage operations.
To realize our management strategy, it is essential that we should be an organization that continues to pursue the functional enhancement andevolution of Haneda Airport. In addition to the wide range of expertise and technology we have cultivated over the years, we must improve our
products, services, and the personnel who support our efforts.
Further, as a Company operating an international airport terminal that welcomes many people from across Japan and around the world, it isessential that we cultivate inclusiveness among our employees. This will make them more open to accepting diverse ways of thinking and people fromdifferent cultures. To this end, we are working to create training systems, programs, and environments that support the promotion of diversity,
inclusion, and a work–life balance.

Reskilling Recurrent
ProgramIndustry-to-industry-to-academia
collaboration projects

Participation in industry-to-industry andindustry–academia collaboration projects

Materiality Initiatives

Required personnel and organization

Diversity andinclusion(applications)

Senior career
seminars

IT Passport

Requiredfor
all employees(Executing Human Resources)

PC skills
improvement training(All employees)

Main initiatives

DX human resource
development (2)Cooperation with Digital
Business Office

Optional system

Promotion of
MBA acquisition(Specialized Human Resources)

Indicators related to human resources
who think and take on challenges on
their own

Special Feature

Transforming workforce
into a group of realprofessionals

Target Year

Major KPIs (Key Performance Indicators)

Medium-term Business Plan

Approach

An organization in which diverse
human resources with different
backgrounds can demonstrate theirabilities• CS Seminars

Value Creation Story

Materiality

Initiatives targeting specific personnel

The future we seek

Human resource development policy

where human resources who think and take on challenges on their owncan discover diversity within themselves, andwhere diverse human resources can foster a corporate culture in which they mutually enhance performance.

Japan Airport Terminal Report 2023

56

Materiality Initiatives
Materiality

Human Resource Development
Corporate Culture Enhances Diverse Human Resources

Training and initiatives
Customer satisfaction training

Against the background of ongoing globalization, Group-wide business expansion, and the fact that we build, manage, and operate international
airport terminals, we believe it essential to foster a corporate culture in which diverse human resources mutually enhance each other.
At the same time, we realize it is important to create a workplace that is comfortable and rewarding, and which has systems that promote diverse
workstyles, as well as management that is conscious of employees’ physical and mental health. Steps to address these issues are ongoing.

Larning rooms

Universal seminars

We have created learning rooms as
spaces for self-directed learning andwhere employees can exchange ideas.
They also provide opportunities forlearning and interaction that transcend
the boundaries between departments
and generations.

●

●

●

Male employees discuss issues ofbalancing work and childcare.

Industry–academia and industry–industry collaboration projects
Flexible thinking and new ideas are
essential if we are to respond tochanges in social conditions and thebusiness environment. To this end, we
implement industry–academia
collaboration projects throughin-house recruiting focused on young
employees.

Improved medical checkups for
women

●

Better employee cafeteria●

Renovated break room●

Collaboration with industry-specificphysicians to provide a comprehensive
support structure for staff

Employeehealth support

Improved dormitory and Company
housing●

Expanded employee benefits●

Regular mental health seminars
Overall: semiannually; new employees:
annually●

Annual nursing care seminars
Consultation desk set up●

Company newsletter

Plus One promotion●●●

Framework for
comfortable
work

●

●

Team leader meetings held topromote workstyle reforms

A good work
environment

Start of telecommuting system
Introduction of paid leave in one-hour
increments

Special Feature

As we state in our management strategy and human resources development policy, we appreciate people who think and take on challenges
on their own. Thus we are running a Plus One promotion internal branding campaign, to raise staff awareness and encourage employees toconsider how to take current work efforts to the next level and increase work engagement. The campaign is in addition to Company-led
education and training programs, as well as enhancement of the workplace environment.
Launched in FY2022, the campaign provides workshops for employees in all positions, from younger staff to section managers. It ismeant to encourage staff to think about what they themselves can contribute under the Plus One umbrella.
We have a dedicated Plus One promotion website, Plus One News, on our intranet, where we share information. This covers Groupinitiatives and best practices, and is designed to improve employee understanding and expand the initiative.

Follow-up with individuals and organizations

Trial introduction of Premium Friday
system, allowing employees to leave
the office at 3:00 p.m. on Fridays
Morning work during the summer
monthsChildcare leave, family care leave, andsick leave
Group Long-Term Deposit Insurance

Installation of a break room and multiuse
toilets

あなたの今日のプラスワンは 、
なん で す か？

Workshop in progress

Case studies on the Plus One website

TOPICS

Materiality Initiatives

Flexible systems exceeding statutory
requirements●

Medium-term Business Plan

As an international airport used by arange of customers, we regularly
conduct training sessions to engenderawareness of diversity and inclusion(D&I) among our staff.
In June 2023, we had an athletewith a hearing impairment give alecture, and we provide regular sign
language and barrier-free training.

Stress checks

Value Creation Story

In order to realize our management
policy of customer-centeredpassenger terminal operations, we
conduct customer satisfaction (CS)training for new and frontline
employees. This is designed to foster acustomer-focused mindset in the staff,
while making them feel proud to beworking at Haneda Airport.

The future we seek

Internal environment development policy

Enhanced employee cafeteria and break room

Plus One promotional image

VOIC E
Inculcating the Plus One mindset among all staff

Employee cafeteria

Break room

Corporate governanceAs the facility manager and operator of Haneda
Airport, we have enhanced the employee cafeteria
and break room to boost employee satisfaction andoverall airport productivity.

日本空港ビルグループ プラスワンプロモーション

私のプラスワン実行宣言！

The Plus One promotion is an internal branding activity aimed at changing employee awareness and behavior. Each
employee is required to devise and implement new Plus One efforts aimed at introducing improvements andchanges.

Eriko
Kazama2023
氏名Manager,
PR & Branding Strategy Office
Japan Airport Terminal Co., Ltd.

department to spread and promote the idea that the aggregate of individual Plus One actions will lead to majoradvances for the Japan Airport Terminal (JAT) Group.

Reflecting the goals of laws revised in line with the passage of the Act on the Arrangementof Related Acts to Promote Work Style Reform, our Workstyle Reform Promotion Team
Leader Council has been meeting monthly since fiscal 2019. This is designed to rectify
issues related to long working hours and to achieve diverse, flexible workstyles.
The council is a Group-wide initiative and comprises mainly younger employees from
Head Office and Group companies. Problem solving proposals and ideas raised by teamleaders are discussed and Group work is conducted at meetings, shared withmanagement, and introduced as new systems and initiatives within the Company.

Data

Staff are encouraged to set goals, whether personal or professional, for what they truly want to achieve, andthen to be the first to take action. Even if just a small improvement or change is achieved, I believe it is the role of myWorkstyle Reform Promotion Team Leader Council

Council meeting

57

Japan Airport Terminal Report 2023

58

Materiality Initiatives

Progress of human rights DD

The future we seek

Human rights due diligence
To promote respect for human rights in our business activities, we have devised policies and procedures related to human rights and procurement,
and conduct human rights due diligence (DD). In determining human rights themes to be addressed, we incorporate the opinions of outside experts
through dialogue, in addition to discussions in each subcommittee. We will continue to address identified issues and disclose information as
appropriate.

In our mainstay businesses of facility management, merchandise sales, and F&B, we have conducted risk surveys and identified issues related tobusiness partners, Group company employees, and users directly involved in our business activities, as indicated below.

Human Rights DD Until Now

Step 1• Based on the “Guidelines on Respecting Human Rights in Responsible Supply Chains,” we have identified human rights risks
in each business sector, as well as on the basis of products handled and business region

Human rights risk surveys• Based on customer feedback, whistle-blower reports, and other information, we have investigated the potential for humanrights risks, and ensured that systems for the early identification and rectification of human rights violations are functioning• We have confirmed the status of JAT’s handling of commercial products associated with particularly high human rights risks

The JAT Group welcomes a variety of customers from across Japan and around the world. We thus have a crucial responsibility torespect diverse cultures and ways of thinking, as well as to respect human rights in the supply chain and throughout our business,merchandise sales and food and beverage (F&B) businesses included.

Initiatives

Implementation of human rights due diligence

Target Year

Rate of childcare leave being taken by male workers: 100%; Rate of managerial
posts being assumed by female personnel: 40% (non-consolidated basis)2027

Employment rate of persons with disabilities: 6.6% (non-consolidated basis)

2025

Investigation of human rights risks and identification of issues and countermeasures

2023

Organizational D&I

Terminal D&I

in which diverse human resources mutually enhance eachother. To this end, we are creating opportunities for

Step 4

Human rights themes• Incorporating dialogues with experts, the Sustainability Committee has identified human rights themes as issues
the Company must address

Engagement in Human Rights Issues
Issue 1 Ascertaining working conditions at partner companies involved in facility management
Amid labor shortage concerns, it is important to ensure that work environments are properly maintained bysubcontractors that manage facilities. First we plan to assess the working environment in the areas of
security and cleaning through questionnaires and other methods. In the event any areas needing
improvement are identified, remedial measures are discussed.
Dialogue with experts held
August 16, 2023
Participating external experts
Members of Sustainability GovernanceConsulting Div.,
Human Resources Governance Leaders Co.,Ltd.

Better quality service

Management of individual user information

Responding to diversifying customer needs

Introduction of Red Cup Campaign Coffee

Participation in TABLE FOR TWO

At our POWER LOUNGE, we have introduced
coffee used in the United Nations World
Food Programme Red Cup Campaign. A
portion of the proceeds is used to support
school lunches in developing countries
through the SUNSHINE COFFEE PROJECT,
led by Mitsumoto Coffee.

Since June 2017, the JAT employee cafeteria
has participated in TABLE FOR TWO, aprogram that delivers school lunches tochildren in developing countries throughdonations of ¥20 per meal served in thecafeteria.

Baggage Carts with Artwork by People
with Disabilities

Corporate governance

New ideas and awareness
Organizational capability

Although human rights risk surveys confirm that the system for rapid risk identification and remedial action is functioning, we have identified thefollowing three items that we will continue to monitor and address to ensure that future changes in the social environment do not have a negative
impact on human rights.
Comfortable working environment for
employees

Mutually
relatedemployees to gain new insights and discoveries through thewith disabilities, thereby improving customer service quality• We have engaged in dialogues with external experts on the social aspects surrounding human rights issues and therelevance of the Company’s human rights themes, including both their identification and related future initiatives

Other human rights-related issues

perspective as an international airport terminal, as well as

acceptance training to promote the employment of people

Dialogues with experts

TOPICSand creating a comfortable work environment.

Indicators related to mutual enhancement of diverse human resources
Indicators

Target YearFY2022 results

Maintain female manager ratio of 40%

FY2027

41.6％
71.4％

Reduced each year

80.8％

Gender wage gap (full-time employees)

Reduced each year

84.4％

Gender wage gap (part-time employees)*

Reduced each year

51.1％

FY2025

5.1％

Employment rate of persons with disabilities 6.6%
* Vice President class non-regular employees, counselors, persons with disabilities, etc.

59

In September 2022, 100 baggage carts at
Haneda Airport were decorated with artwork
created by challenged artists—people withdisabilities—working with professional
designers.

Japan Airport Terminal Report 2023

Data

FY2027

Gender wage gap (all employees)

Male employees utilizing childcare leave 100%Materiality Initiatives

Respecting diversityof addressing diversity and inclusion (D&I) from ourimplementation of D&I training for all Group employees andStep 3

As Japan’s premier gateway to the skies, it is important that we reduce supply chain risks related to the
products we provide. To this end, we first must identify human rights risks in the supply chain, starting with
our original clothing products and the coffee we serve at our directly managed stores. In the event that areas
needing improvement are identified, we discuss remedial measures.

The Japan Airport Terminal Group recognizes the importancethe perspective of D&I required to foster a corporate culture• Based on survey results, we have evaluated the severity and probability of human rights risks, and identified
potential human rights themes to address more fully in the future

Issue 2 Identifying retail F&B supply chain human rights risks

Main initiatives
Thoughts on Diversity

Current conditions, future risks

Special Feature

Promotion of diversity andinclusion

Major KPIs (Key Performance Indicators)

Step 2Medium-term Business Plan

Approach

Value Creation Story

Materiality

Promotion of diversity and inclusion andrespect for human rights

60

Materiality Initiatives

Promotion of fair business activities

Materiality

Materiality

Strengthening of risk management

Approach

As a Group engaged in the operation of public airport passenger terminals, JAT complies with laws, regulations, and social norms asa matter of course. Further, we also recognize that some social concerns can be resolved if we strengthen our system ofgovernance, engage in sound, highly transparent management, and promote fair business activities.

Ensuring business continuity is the JAT Group’s social mission. In a highly uncertain society in which new risks are forever emerging,
we recognize the importance of ensuring and maintaining organizational resilience by understanding the risks surrounding ourbusiness environment and implementing countermeasures.

Major KPIs (Key Performance Indicators)

Target Year

Ensuring thorough compliance Zero incidence of inappropriate behavior (serious misconduct/violations) in corporate activities
Strengthening
sustainability governance

Annually,
ongoing2023

Formulation of sustainable procurement guidelines and their dissemination to business partners

Initiatives

Risk management systemenhancements

Major KPIs (Key Performance Indicators)

Target Year

Risk Management Committee and PDCA cycle set up for priority risks

2023

Zero significant impacts on terminal building operations caused by inadequatecybersecurity measures

Annually,
ongoing

Main initiatives
Main initiatives

Risk management

Ensuring Thorough Compliance

E-learning test pass rate

Promotion Structure

98.9%

Awareness ofcompliance information desk

Main Initiatives

93.1%

We set up an internal and external compliance information desk (reporting system) to identify problems within the Group, take corrective action at
an early stage, and implement measures to prevent recurrences.
To further inculcate compliance awareness, we conduct periodic e-learning tests for all employees. Our Japan Airport Terminal Group ComplianceHandbook includes specific examples of necessary compliance, and is posted on the Company intranet to enhance staff knowledge and ensure
thorough awareness.

Respect for Human
RightsTier 1
About 570

Implement andimprove responseplans

Priority risks• Spread of serious infectious diseases

Risks that must be prevented from materializing• Natural disasters (earthquakes, extreme weather
events)• Inadequate cybersecurity measures

Business processes (internal factors)• Inadequate product management (food safety, excess inventories)

Crisis management (external factors)

An inadequate framework for managerial functions may poserisks for the Company• Inadequate supply chain management• Insufficient human resources, lack of training and low
engagement• Financial covenant violations*• Acquisitions without consent• Inadequate Group governance• Insufficient promotion of D&I, respect for human rights

Changes in the business environment• Responses to environmental issues• Rapid, drastic changes in market conditions

Risks expected to materialize due to changes in the external
environment and for which management strategies are required toprevent losses, or to expand or transform opportunities• Responses to changes in behavioral patterns andtechnological innovations• Diversification of sales composition (lessdependence on airlines)• Changes in government policies (public regulations)• Changes in international conditions• New businesses, acquisitions, and capital investments

Strengthening Cybersecurity
Continuity of business activities and terminal operations is the
JAT Group’s social mission. These days, corporate activities,(4) Prohibition of harassment, inhumane handling, andunfair treatment(3) Efficient use of energy and reduction of greenhouse gas
emissions(4) Effective use of resources and waste management(5) Implementation of responsible
procurement activities

https://www.tokyo-airport-bldg.co.jp/files/en/sustainability/JapanAirportTerminalGroupSustainableProcurementGuidelines.pdf

61

Check

Monitor response plan
implementation, verify
efficacy
Review priority risks

President andRepresentative Director

Board of Directors
Executive Committee

where DX is promoted and IT is expected to impact all aspects ofbusiness activity, we must ensure the stable operation of IT
systems in the event of an emergency.
To this end, we have formulated and are implementing an IT
System Business Continuity Plan. We plan to conduct
Cybersecurity Incident Response Team (CSIRT) training andprovide security education to executives and employees in aneffort to minimize impacts on terminal operations and business
continuity in the event of an incident. In this way, we will
strengthen the effectiveness of IT service continuity.

JAT-CSIRTCSIRT Manager

Internal related organizations
Group companies

CSIRT Secretariat

Department in charge of
information systems

Executives and employees(system users)
Information
coordination,
reporting, etc.

Directors, etc.

Data

The full text of Sustainable Procurement Guidelines can be found at

Action• Terrorist acts and subversive activities(3) Prohibition of child labor(2) Disclosure of environmental information

Consideration for
the Environment

Risk Management
Committee

Classification(2) Prohibition of forced labor(6) Management of workers’ health(1) Ensuring the safety of products and services(3) Development of business continuity planstrength.

Formulate response
plans

About 3,500(1) Compliance with environmental laws and regulations(2) Provision of accurate information about products andservices

Group’s corporate structure and enhance its comprehensive

Implement responseplans* Although some of the Company’s short-term and long-term borrowings were in violation of certain financial covenants at the end of the fiscal year under review, the Company has obtained the agreement of
the handling financial institutions that they will not to exercise their rights pertaining to forfeiture of the benefit of time.

(5) Occupational safety and health(5) Protection of intellectual property rights

Ensuring Safety andQualityopportunities, we will make every effort to strengthen theManagement infrastructure(1) Respect for human rights and elimination of discrimination(1) Compliance with competition laws

(4) Protection of personal information and prevention ofleakage of confidential information

In conducting evaluations to prevent losses and developing

Do

Identify priority risks

Corporate governance

Guideline Item

(3) Elimination of relationships with anti-social forces

verify their effectiveness within the management process.

Plan

Materiality Initiatives

The JAT Group has a Procurement Policy and Sustainable Procurement Guidelines to promote proper supply chain
management and fair procurement practices. The guidelines are distributed to major suppliers and set as a KPI to
be achieved in fiscal 2023.
Currently, of the approximately 3,500 suppliers, tenants, and other companies that do business with our Group,
about 570 companies have been identified as Tier 1, accounting for 90% of overall transaction value.
The Supply Chain Subcommittee is taking the lead in disseminating information and requesting cooperation
during fiscal 2023. In future, we will also work with the Human Rights Subcommittee to ensure supply chain-wide
fair procurement. We will conduct additional surveys in business areas where human rights risks have been
identified as high.

(2) Prevention of corruption and bribery

repeatedly review and confirm the status of responses andRisks that must be prevented from materializing

Enhancing Sustainability GovernanceConducting
Transactions in a
Fair, Just, andSincere Manner

have a Risk Management Committee and systems in place toSpecial Feature

To conduct corporate activities in accordance with laws, regulations, and social rules, the Group has issued aCompliance Declaration and formulated Basic Compliance Guidelines to establish a system to promotecompliance. To ensure that management is compliance oriented, the operation of the system is regularly
examined and supervised by the Compliance Promotion Committee, chaired by the representative director andpresident.

For risks assessed as critical for our business (priority risks), we

Medium-term Business Plan

Annually,
ongoing

Dialogues with external experts held twice a year

Value Creation Story

Initiatives

The future we seek

Approach

Other related departments
External related organizations

Japan Airport Terminal Report 2023

62

Corporate governanceOutside director message

Business plans aimed

Board’s composition balanced

at operating the world’sand diverse; each member’s
expertise counts

Keiji Kimura

Tamaki Kakizaki

Outside Director

Outside Director,
Audit & Super visory Committee Member

Audit & Supervisory Committee relations
with internal audit department should be positive

workplace, so we will need to continue checking reports on the

Remuneration Advisory Committee and the Nomination Advisory

Japan Airport Terminal (JAT) launched its medium-term sustain-

Committee. Remuneration levels should be set based on results

Over a year has passed since JAT adopted a committee gover-steadily execute its objectives. But, if Japan is affected by anotherability plan in May 2023, and having specified material issues andof individual performance evaluations, while succession plansnance structure, which included the replacement of its former

pandemic or geopolitical risks, a flexible and speedy change in

key performance indicators, the plan is solid overall in my view.

ought to be incorporated into the nomination system.

Board of Auditors with the current Audit & Supervisory Commit-

direction may be required, and the Board must be able to handle

management must in future be reviewed by the Company’s

To ensure that it produces results, however, the Company will

When nominating directors, the diversity of members of thetee. I had served as an outside auditor before that transition, andthat. Therefore, I believe that one future role of the Board ofneed to effectively execute the plan with resolve. As the Compa-

Board of Directors must also be taken into consideration. In

based on my experience, relations between the auditors and the

Directors will be to make sure that the Company has in place

ny’s president, executive officers, managers, and employees

Japan, companies are focusing on appointing more women. In myinternal audit department were very positive.

operational structures capable of identifying signs of change andcarry out the measures of the plan, the Board of Directors has aview, however, diversity should be considered on an individual

The shared roles of auditors and audit departments of

responsibility to support and monitor the progress of theirlevel. We need diverse ideas and awareness that come from theJapanese corporations is complicated and often leads to friction.

efforts.

responding quickly.

In the case of this Company, however, the Internal Audit Depart-preferable for any board to be made up of members who havement provided support to the auditors on the Board of Auditors,

ties for discussing the Company’s future strategic direction. On

diverse ideas and awareness, regardless of their gender, national-

and both parties worked as a team to conduct audits. This

Diversity characterizes the composition of the Company’s Board

seeing the location after I had been appointed a director, I noticed

ity, or age. But, at the same time, people must be able to demon-cooperative relationship continued following the establishment

of Directors. Several outside directors have experience at airline

what a vast area it covers and recognized the possibilities forstrate good judgment based on their knowledge.

of the Audit & Supervisory Committee.

and railway companies that work with Japan Airport Terminal to

A management team made up of
diverse members

urban development at Haneda Airport. It is a very special place

For internal director positions, in particular, I would like theNow reports from the Internal Audit Department reach theoperate Haneda Airport. Directors serving on the Audit & Super-

with immeasurable potential, thanks to its well-designed

Company to focus more on hiring people with these specific

Board of Directors via the Audit & Supervisory Committee, andvisory Committee include a lawyer, an executive from thebuildings, huge site, and advanced infrastructure, including

qualities at the recruitment stage and then groom them forthis has made information sharing and decision-making fasterinsurance industry, and, in my case, a university professor.

connections to road and railway networks. Therefore, we should

management.

than ever.

Altogether, the composition of the Board, including the internal

Corporations that have adopted audit and supervisory

about how to enhance the operational management and mainte-

committees in Japan not only confirm irregularities and miscon-

Developing airports responsive tochangedirectors, is well-balanced and reflects the diverse backgroundsof its members.

duct through appropriate auditing, but also verify the soundness

In my experience, companies that operate smoothly under ato making it the world’s best airport. While it is not easy to

Having long been involved in urban development, I know thatof management decisions, specifically with respect to whether

properly functioning board also tend to have solid relations ofbalance corporate profitability and public interest, new business-such development projects cannot be completed within a shortopportunity losses for the company have been avoided, or

trust between the company head and outside officers.

es can motivate employees more than ever, and I believe that wetime. I believe this also applies to airport development. Based on

business opportunities have been missed by organizations andoutside directors can play a part in exploring such businesses.

my experience, when carrying out a project over a long timespan,plans.

being receptive to change is essential.

For example, the head of the company listens to the opinionsof the outside officers, takes notes, decides on what to do, andtakes action very soon. This attitude sets the tone within theearnings even when air travel had practically been shut downboard, and encourages internal directors and executive officers to

evolves, but since it is impossible to foresee every risk, it is essen-

during the three years of the pandemic. The Board of Directors

be receptive to motions from outside officers and act on them

For corporations, all management plans are integrated, includingtial to be ready to adapt when signs of change appear. With this in

discussed this issue and, in the process, gained a new apprecia-

quickly. The outside officers then will feel motivated to submit

those related to medium-term management, business, humanmind, I want our management to deepen engagement withtion for how risk management can be applied in corporate

more proposals, and the process will follow a virtuous circle.

resource development, initiatives related to the UN Sustainable

stakeholders, build momentum within the Company, and aim for

management and business development. Thus, the Company’s

The Company’s Board of Directors can create such a virtuous

Development Goals and to environmental, social, and governancebetter results with a clear vision, while paying close attention to

shift to a committee governance structure has facilitated its

circle by taking advantage of the diversity and varied expertise of(ESG) performance, as well as, in our case, medium-term sustain-changes in the operating environment.

evolution in positive ways.

its outside directors. Moreover, the Board can engage in morethorough discussions by having the heads of operational divisions

ability. Moreover, companies have an obligation to execute theseplans in the public interest.
Given this important responsibility, a company’s leader must

Equipping the Board to promptly
respond to change

give presentations on their medium- and long-term objectives.
The Board’s deliberations are much more dynamic than

The Company’s new medium-term sustainability plan was formu-

before, but I think that all officers—internal and external alike—with the plans. Likewise, our management is expected to fulfill its

lated in a relatively short time, but it is a very good plan. Never-can unite even more to steer management toward the Company’s

obligation to completely execute our medium-term business andtheless, we cannot talk about corporate sustainability without along-term vision of operating the world’s best airport.

sustainability plans in order to realize our vision for Japan Airport

medium- and long-term strategy, so I had hoped for more oppor-

Terminal in 2030.

tunities to discuss this in meetings of the Board of Directors.

Data

work together with management and employees to push ahead

From this perspective, I believe our criteria for evaluating

Corporate governanceWith this in mind, the Company explored ways to boost

Both risks and opportunities will arise over the years as society

Responsibilities, remuneration, anddiversity of directors

Materiality Initiatives

facilitate discussions and dialogues among directors and officers

Special Feature

unique backgrounds and experiences of individuals. Of course it is
I also believe that the Board should create opportuni-

nance of the airport, the Company’s primary business, with a view

63plan’s progress. For a plan like this, normally we would just have toMedium-term Business Plan

Outside directors can help enhance
an airport’s value

Value Creation Story

best airport

The future we seek

Messages from Outside Directors

The challenge is how to concretely implement the plan in theJapan Airport Terminal Report 2023

64

Corporate governanceCorporate governance structure

Organizations involved in corporate governance1

https://www.tokyo-airport-bldg.co.jp/en/ir/policy/governance.html

Number and types of members

15

1

Board ofDirectors

2

Audit &
Supervisory
Committee

3Nomination
Advisory
Committee

4

Remuneration
Advisory
Committee

3Company director

8Outside director

7

Outside director

36Company director

1

Outside director

56Company director

1

Outside director

5Company director

8

Organizational chart

5

General Meeting of Shareholders
14Nomination
Advisory Committee

Advisory

ReportBoard of Directors
Audit

Directors

Remuneration
Advisory Committee

2

Assignment of businessexecution responsibilities

Cooperation

Information
sharing andreportingInstructions

Internal audit

Sustainability Committee
Risk Management Committee

Executive Officers

Management supervisions

Consolidated subsidiaries

41
times

This committee monitors business operations as awhole and deliberates on basic policies and importantmatters related to business execution, based on
management policies set by the Board of Directors.

2

Financial auditing

Cooperation

Position in the
Company

Independent
Officer

Professional expertise and experience
Corporate
management

Finance /accounting

Legal affairs /compliance

Globalexperience

Safety &security

Real estate /facilities

Marketing/sales

Airports /aviation

●

●

●

●

●

●

●

●

●

Representative Director,

●

●

●

●

●

●

●

●

●

Hisayasu Suzuki Executive Vice President

Representative Director,

●

●

●

●

●

●

●

●

●

Representative Director,
Executive Vice President

●

●

●

●

●

●

●

●

●

Executive Vice
Kazuhito Tanaka Directors,
President

●

●

●

●

●

●

●

●

●

Yoko Koyama

Senior Managing Director,
Executive Officer

●

●

●

●

●

●

●

●

●

Takeshi Fujino

Senior Managing Director,
Executive Officer

●

●

●

●

●

●

●

●

●

Keishi Matsuda

Managing Director,
Executive Officer

●

●

●

●

●

●

●

●

●

Yoshiharu Ueki

Outside Director

●

●

●

●

●

●

●

●

●

Keiji Kimura

Outside Director

●

●

●

●

●

●

●

●

●

Ichiro Fukuzawa

Outside Director

●

●

●

●

●

●

●

●

●

Yukihiro Kawamata

Outside Director

●

●

●

●

●

●

●

●

●

Tamaki Kakizaki

Outside Director,
Audit & Supervisory
Committee Member

●

●

●

●

●

●

●

●

●

Ryoko Takeda

Outside Director,
Audit & Supervisory
Committee Member

●

●

●

●

●

●

●

●

●

Kenji Iwasaki

Outside Director,
Audit & Supervisory
Committee Member

●

●

●

●

●

●

●

●

●

Representative Director,
Chairman of the Board of
Directors & CEO

Nobuaki Yokota President & COO

Hiroshi OnishiMember of the Board ofJapan Airport Terminal Report 2023

Data

All business divisions and departments

2

times

This advisory committee to the Board of Directors wasestablished to deliberate on matters concerning the
remuneration of directors, and ensuring thetransparency, credibility, and objectivity of thatprocesses.

Corporate governanceInternal Audit
Department

Executive Committee
Group Management
Committee

1

times

The advisory committee to the Board of Directors was
set up to deliberate matters concerning the selection ofsenior managers and nomination of directors, and toensure the transparency, credibility, and objectivity ofthat process.

Skills matrix for officers

Isao Takashiro

Assistance

Chairman and Chief Executive Officer
President and Chief Operating Officer

65

Accounting auditor

NameSpecial Audit &Supervisory Officers

8times2The committee prepares audit reports, supervises theexecution of duties by directors, and decides on
proposals concerning officer remuneration, as well as
the selection and dismissal of directors and accounting
auditors.

Materiality Initiatives

Report5

Cooperation

Directors serving on the Audit &Supervisory Committee

Directions

The Board is responsible for supervising management
execution and making decisions concerning basic
management policies, matters subject to laws andregulations, and other important matters.

Notes: 1. Other important organizations are the Group Management Committee, Compliance Promotion Committee, Sustainability Committee, and Risk Management Committee.
2. The number of times since the Audit & Supervisory Committee was established effective June 24, 2022.
3. Special audit and supervisory officers attend meetings of both the Board of Directors and the Management Committee.

(excluding directors serving on the Audit &Supervisory Committee)

Compliance Promotion
Committee

13
times

15

Special audit &supervisory officers3

Appointment/
Dismissal

Appointment/Dismissal

Audit &
Supervisory
Committee

25

Executive officers

Role and objectives

Special Feature

Appointment/Dismissal

Executive
Committee

Meetings held
in FY2022

Medium-term Business Plan

URL for reference

The Audit & Supervisory Committee monitors the execution of duties
by directors to ensure that their actions are lawful and appropriate,
and that management is conducted in a transparent and soundmanner. This committee comprises three independent outside
directors, who attend meetings of the Board of Directors and otherimportant meetings.
Special Audit & Supervisory Officers are appointed to assist thecommittee and follow its directions in order to ensure that audit andsupervisory duties are performed effectively.
The Company has set up an internal control system encompassing
the Group as a whole, and has put in place systems to improve theeffectiveness and efficiency of business management. This ensures thecredibility of its financial reporting, and maintaining compliance withlaws and regulations relevant to business management.

Value Creation Story

The JAT Group is responsible for constructing, administering, assigningduties, and managing airport terminal buildings used by the generalpublic. From this standpoint, the Company recognizes the importanceof corporate governance in its management, and has worked to ensure
management transparency. Since its establishment, it has beenenhancing its corporate governance by means including theappointment of outside directors.
The Company’s Board of Directors is responsible for supervising
management execution and making decisions on basic management
policies, matters subject to laws and regulations, and other importantmatters. In principle, it meets once per month.
The Company adopted a committee governance structure on
gaining approval for this change at its 78th General Meeting of
Shareholders, held on June 24, 2022. Accordingly, its former Board ofAuditors was replaced by its current Audit & Supervisory Committee.

3

The future we seek

Corporate governance66

Corporate governance

Officer compensation plan●●routinely implements measures aimed at improving theperformance of the Board. A questionnaire format is used as themethod of evaluation, with responses submitted to a third-party
organization to ensure anonymity.

Directors evaluated: All 15 members of the Board of Directors (including those serving on the Audit &Supervisory Committee)
Evaluation method: Questionnaires

Performance-linked compensation system

Officer compensation plan

Effectiveness evaluation process

Questionnaire to
all Directors

Identification andrecognition ofissuesConsideration ofIssuesContinuous
Improvement

Category of Director

Fixed salary

The Company’s directors (excluding outside directors anddirectors serving on the Audit & Supervisory Committee) receive a
fixed salary and performance-linked compensation, set at levels
commensurate with the compensation levels of corporations ofsimilar size, and businesses operating in related industries.
Outside directors and directors serving on the Audit & Supervisory
Committee receive only a monthly fixed salary.
Performance-linked compensation is systematically calculated
based on progress in achieving targets set for performanceindicators, specifically consolidated operating revenues, operating
profit and loss, ordinary profit and loss, and profit and loss
attributable to owners of the parent. The performance indicators
are selected in such a way as will link the compensation toshareholder returns and the management strategies of theCompany’s medium-term business plan.
Performance-linked
compensation

Performance indicators●●

Evaluation for fiscal 2022

Those below rank of senior managing director●●

Operating revenues, operating profit and loss, ordinary
profit and loss, and profit and loss attributable to ownersof the parent, and progress in achieving individual targets

The results identified the need for fuller deliberation by the Board of medium- and long-term management strategies toraise enterprise value. This is especially necessary since the operating environment has become difficult to forecast due tothe impact of COVID-19 and other factors.

Outside directors, directors serving on the
Audit & Supervisory Committee●

Fiscal 2022 compensation-linked performance indicators

Fiscal 2023 tasks based on fiscal 2022 results

Training for directors

Operating loss

Ordinary loss

Loss attributable to owners of the parent

113,050

10,57912,0643,901

Compensation by category of officer in fiscal 2022
Officer category

Total amount ofcompensation(millions of yen)

Directors (excluding outside directors and directors
serving on the Audit & Supervisory Committee)

Breakdown of total compensation (millions of yen)

Number of officers

Fixed salary

Performance-linked
compensation

254

254

-

11

Directors serving on the Audit & Supervisory
Committee (excluding outside directors)

-

-

-

-

Audit & Supervisory Committee Members(excluding outside auditors)

9

9

-

2

Outside officer

58

58

-

9

Note regarding upper limit of total compensation.
The upper limit of the total annual compensation for 12 directors (including four outside directors and excluding directors serving on the Audit & Supervisory Committee) was set at ¥450
million (including ¥48 million for the outside directors) following approval at the 78th General Meeting of Shareholders held on June 24, 2022. The upper limit of the total annualcompensation for four directors serving on the Audit & Supervisory Committee was set at ¥80 million, following approval at the same meeting.
The Audit & Supervisory Committee replaced the former Board of Auditors following the Company’s adoption of a committee governance structure, approved at the 78th General
Meeting of Shareholders held on June 24, 2022. Prior to the adoption of this structure, the upper limit of total annual compensation for 15 directors (including four outside directors) had
been set at ¥450 million (including ¥48 million for the outside directors). This had been approved at the 73rd General Meeting of Shareholders on June 29, 2017. Meanwhile, the upper limitof total annual compensation for five members of the former Board of Auditors had been set at ¥80 million, following approval at the 74th General Meeting of Shareholders on June 27, 2018.

Corporate governanceIn fiscal 2022, experts from outside the Company wereinvited to lead in-house training sessions on sustainability
reporting for all directors, including outside directors.

Operating revenues

Materiality Initiatives

The results were positive overall with respect to the Board’s performance, composition, monitoring function, and otherpoints of evaluation, indicating that the Board, as a whole, performed effectively in fiscal 2022. The results also identified
points that might be improved in fiscal 2023, specifically the need to encourage free and open discussions, facilitate moreopinion sharing among outside officers, and regularly review the Group’s overall business portfolio.

The Company regularly provides opportunities for directors
to acquire needed expertise by participating in seminars
and other educational programs, and bears the costs forthese activities as is stipulated by its in-house rules. To
ensure that outside directors understand the Group’s
management principles and policies, business activities,
and organizations, the Company provides relevant
information whenever necessary.

Not applicableSpecial Feature

All excluding categories below

Operating revenues, operating profit and loss,
ordinary profit and loss, and profit and loss
attributable to owners of the parent

Medium-term Business Plan

As a basic policy, the Company sets levels of compensation for
directors, devises methods for determining those amounts, andensures the objectivity and transparency of the process. This it
does to provide directors with incentives to keep improving theCompany’s financial performance, over the medium to long term,
and to raise its enterprise value. Matters subject to this basic
policy are examined, deliberated, and decided by the Board,
following deliberation by the Remuneration Advisory Committee.
In addition, the compensation for individual members of the
Audit & Supervisory Committee are determined throughdiscussions held by the committee itself.

Value Creation Story

Since fiscal 2016, the Company has been assessing theeffectiveness of its Board of Directors through self-evaluations by
its members with a view to enhancing the Board’s performanceand, ultimately, raising its enterprise value. Based on the results ofthe evaluations, the Company considers issues to address and

The future we seek

Evaluating the Board’s effectiveness

Data

67

Japan Airport Terminal Report 2023

68

Corporate governance

Policy concerning cross-shareholdings

Assessing relevance of cross-shareholdings

Voting rights granted through cross-shareholdings
When deciding on whether to exercise voting rights granted
through cross-shareholdings, the Company considers the impact
of such actions on its financial performance, and whether theymight contribute to its sustainable growth and enterprise value
over the medium and long terms.
Number ofCompanies

Amount Recordedon Balance Sheet

Unlisted stocks

15¥ 4,852 million

Stocks other thanunlisted stock9¥ 5,072 million

Basic approach to information disclosure
On behalf of the JAT Group, the Company discloses information inaccordance with all relevant laws in Japan, including the
Corporation Law and the Financial Instruments and Exchange Law,as well as with rules regarding timely disclosure of financial
information, as stipulated in the Tokyo Stock Exchange’s
regulations for listed securities.
Pursuant to these regulations, the Company will promptly
disclose details of any decisions, incidents, or finance-related

Fiscal 2022 events
Financial results presentations
The Company holds presentations for shareholders and investors
twice a year to announce its interim and fiscal year-end
consolidated financial results, and provide clear explanations of its
management policies and growth strategies.

Policy on takeover bids (excerpt)
Anti-takeover policy

The full text of the Continuation of Countermeasures to Large-Scale Purchases of Japan Airport Terminal Co., Ltd. Shares (Takeover Defense Measures) can be found at

Presentation held on May 18, 2023

The interim financial results were presented on November 18, 2022
Fiscal year-end financial results were presented on May 18, 2023

Presenters• Chairman and chief executive officer• President and chief operating officer• Executive vice presidents• Senior managing directors, etc.

Information
disclosed

Presentation materials, transcripts, and Q&A materials are available
on the Company’s website(please refer to website address below)

ReportingsystemRelevant information is reported to the Board of Directors andExecutive Committee

Other investor relations activities
In fiscal 2022, about 160 meetings were held for investors,
including small meetings with the president and COO, andindividual meetings concerning compliance with a senior managing
director.

Main topics of the meetings• Assessment of operating environment, including impact of various government policies and domestic and global economic trends,
airline passenger numbers, and identified risks• Operating results, including performance of each business, measures to address labor shortages and rising prices, and the policy
on shareholder returns• Medium-term business plan, including changes in the operating environment, objectives, strategic direction, performanceindicators, and investments• ESG-related issues, including decarbonization measures, human capital, officer remuneration system, and the ratio of independent
directors on the Board

Corporate governancehttps://www.tokyo-airport-bldg.co.jp/files/ir/000013237.pdf (Japanese only).

アタリ

Presentations

Materiality Initiatives

disclosed beforehand, for the purpose of assisting shareholders inmaking their decision.
Moreover, to prevent a hostile takeover that could decrease
the Company’s enterprise value and run counter to the common
interests of shareholders, the Company may demand answers topertinent questions from the party attempting a takeover, as wellas improvements to its takeover bid, or it may secure
opportunities for shareholders to be presented with alternative
proposals that benefit their interests.
Finally, the Company may deem it necessary to take measuresagainst a takeover attempt that does not comply with rules
concerning such an action, in order to maintain its enterprise value
and protect the interests of its shareholders.

A hybrid format including live streaming was used at an onsite
meeting to present results for the fiscal year ended March 31,
2023. It was attended by members of institutional investors andanalysts from securities firms.

Special Feature

In the event a party attempts to acquire a controlling stake in the
Company, the final decision on whether to accept or reject thisaction is left to the Company’s shareholders. Further, if theattempt to acquire the controlling stake occurs unexpectedly, toprepare shareholders to quickly make an appropriate decision withrespect to the acquisition’s impact on their common interests andthe Company’s enterprise value, both the acquiring party and theCompany’s Board of Directors will be required to provide relevant
and sufficient information regarding the impact of the acquisitionon the Company, as well as details of management policies andbusiness plans if the acquiring party intends to be involved in the
management of the Company. The Board of Directors shall assist
shareholders in deciding by investigating the acquisition andpresenting the results to the Board.
Thus, if a party attempts to acquire a controlling stake in the
Company, it must provide the Company’s Board in advance with
the necessary and sufficient information about the intended
acquisition. This is stipulated in the rules set by the Company andresults that could significantly impact the decisions by investors,
and for matters not subject to these regulations, the Company willproactively disclose information that it deems to be important or
useful for investors. To enhance its engagement with shareholders
and investors, the Company will work to improve the breadth andquality of its information disclosure.

Medium-term Business Plan

Every year, the Board of Directors reviews the relevance of theCompany’s cross-shareholdings by examining quantitative results,
such as transaction amounts, dividends received, as well as
qualitative factors, including the purpose of holding shares of its
business partners.

Shareholder and investor relations

Value Creation Story

As a matter of policy, the Company holds shares issued by othercompanies for purposes other than investment. This is done
specifically to maintain medium- and long-term business
partnerships that can expand business and generate synergies, if it
is deemed that such ownership will raise the Company’s enterprisevalue and benefit shareholders.

The future we seek

Cross-shareholdings

Please refer to the Company’s website for various disclosure materials for investors, including presentations of financial results.

https://www.tokyo-airport-bldg.co.jp/en/ir/

Data

69

Japan Airport Terminal Report 2023

70

Corporate governance

Representative Director, Chairman of
the Board of Directors & CEO

Representative Director,
President & COO

Representative Director,
Executive Vice President

OutsideOutsideOutside Director

Outside Director

Outside Director

Isao Takashiro

Nobuaki Yokota

Hisayasu Suzuki

Yoshiharu Ueki

Keiji Kimura

Ichiro Fukuzawa

Attendance at Boardof Directors’ meetings

June 2016

Joined the Company
Senior Managing Director
Representative Director and Executive Vice President
Representative Director and President
Representative Director, President and Executive
Officer
Representative Director, Chairman & CEO (current
position)[Responsibilities]

Attendance at Boardof Directors’ meetings

13/13

Attendance at Boardof Directors’ meetings

13/13

Attendance at Boardof Directors’ meetings

12/13[Past experience, positions][Past experience, positions][Past experience, positions][Past experience, positions][Past experience, positions]

April 1974
April 2009
June 2011
June 2014

April 1975

June 1975
Joined Japan Airlines Co., Ltd.
December 2010 Senior Managing Executive Officer, Japan Airlines
International Co., Ltd.
April 2011
Senior Managing Executive Officer, Japan Airlines Co.,Ltd.
February 2012 Representative Director, President, Japan Airlines Co.,Ltd.
April 2018
Representative Director, Chairman, Japan Airlines Co.,Ltd.
June 2018
Outside Director, the Company (current position)
April 2020
Director, Chairman, Japan Airlines Co., Ltd. (current
position)

May 1970
June 2005

October 1989
June 2019[Significant concurrent positions]

June 2019

June 2015
May 2016
June 2016

Chairman of the Board of Directors
Chairman of the Executive Strategy Meeting

Attendance at Boardof Directors’ meetings

13/13

OutsideJoined the Company
Managing Director and Executive Officer
Senior Managing Director and Executive Officer
Member of the Board of Directors, Executive Vice
President and Executive Officer
Representative Director, Executive Vice President andExecutive Officer
Chairperson, All Japan Airport Terminal Association(currently The All Japan Airport Association, Inc.)(current position)
Representative Director, President and Executive
Officer & COO (current position)

July 2006
July 2009
January 2013
January 2014
June 2014
June 2015
June 2023[Responsibilities][Responsibilities]

Director, Chairman, Japan Airlines Co., Ltd.

Chief Operations Director
Public Relations Management

April 2011
June 2016
April 2017
June 2017
June 2018
June 2019

Joined Mitsubishi Estate Co., Ltd.
President & Representative Director, Mitsubishi EstateCo., Ltd.
Chairman & Representative Director, Mitsubishi EstateCo., Ltd.
Chairman of the Board, Mitsubishi Estate Co., Ltd.
Director, Mitsubishi Estate Co., Ltd.
Senior Advisor, Mitsubishi Estate Co., Ltd. (current
position)
Outside Director, Matsumotokiyoshi Holdings Co., Ltd.
(currently MatsukiyoCocokara & Co.) (current position)
Chairperson, Japan Building Owners & Managers
Association (current position)
Outside Director, the Company (current position)

Senior Advisor, Mitsubishi Estate Co., Ltd.
Outside Director, MatsukiyoCocokara & Co.
Chairperson, Japan Building Owners & Managers Association

Outside Director, SAN-AI OBBLI CO., LTD.

April 2021
April 2022
April 2022
June 2022[Significant concurrent positions]Representative Director and Executive Vice President,
ANA HOLDINGS INC.
Representative Director and Executive Vice President,
ALL NIPPON AIRWAYS CO., LTD.

[Significant concurrent positions][Significant concurrent positions]

April 2020

Joined ALL NIPPON AIRWAYS CO., LTD.
Member of the Board of Directors and Deputy
Executive Officer, ANA HOLDINGS INC.
Member of the Board of Directors and Executive
Officer, ANA HOLDINGS INC.
Member of the Board of Directors and Senior Executive
Officer, ANA HOLDINGS INC.
Representative Director and Executive Vice President,
ANA HOLDINGS INC. (current position)
Representative Director and Executive Vice President,
ALL NIPPON AIRWAYS CO., LTD. (current position)
Outside Director, the Company (current position)[Significant concurrent positions]* Attendance since taking office June 24, 2022

Chairman, The All Japan Airport Association, Inc.

New appointment

OutsideIndependent

OutsideIndependent

OutsideIndependent

Representative Director,
Executive Vice President

Member of the Board of Directors,
Executive Vice President

Senior Managing Director,
Executive Officer

Outside Director

Outside Director,
Audit & Supervisory Committee Member

Outside Director,
Audit & Supervisory Committee Member

Hiroshi Onishi

Kazuhito Tanaka

Yoko Koyama

Yukihiro Kawamata

Tamaki Kakizaki

Ryoko Takeda

Attendance at Board of Directors’ meetings 13/13
Attendance at Boardof Directors’ meetings

Attendance at Boardof Directors’ meetings

13/13

Attendance at Boardof Directors’ meetings

13/13

Attendance at Board of Auditors’ meetings

4/4

Attendance at Board of Directors’ meetings[Past experience, positions][Past experience, positions][Past experience, positions][Past experience, positions][Past experience, positions]

April 1979
June 2009

April 1987
June 2011

April 1992
June 2013

April 1986
June 2016
June 2019

April 2009

April 1998

Chief Operations Director
Chairman of the JAT Group CS Promotion Committee
Passenger Terminal Operation Management
Management of General Affairs Group

July 2014

June 2015
June 2020
June 2023

July 2014

June 2016
July 2017
August 2017
April 2019
July 2019[Responsibilities]

Management of Corporate Planning GroupManagement of Business Development Department
Management of Sustainability

June 2020
June 2023

Joined the Company
Executive Officer and Vice President, Corporate Planning
Division, Corporate Planning Department
Executive Officer; Vice President, Corporate Planning Division,
Corporate Planning Department; and Vice President, Business
Planning Division
Managing Executive Officer and Deputy Senior Vice President,
Corporate Planning Department
Managing Executive Officer and Deputy Senior Vice President,
Business Development Department
Outside Director, Haneda Mirai Kaihatsu Co., Ltd. (current
position)
Outside Director, Kyushu Kumamoto International Airport Co.,
Ltd. (current position)
Managing Executive Officer; Deputy Senior Vice President,
Business Development Department; and Deputy Senior Vice
President, Passenger Terminal Operation Department (in chargeof Facility Planning Office / Tokyo Olympic & Paralympic Games
Promotion Office)Managing Director and Executive Officer
Senior Managing Director and Executive Officer (current
position)

April 2022
June 2023

Joined Keikyu Corporation
Director, Keikyu Corporation
Director, Managing Executive Officer, Keikyu
Corporation
Representative Director, President and Executive
Officer, Keikyu Corporation (current position)
Outside Director, the Company (current position)[Significant concurrent positions]

April 2012
April 2014
June 2016
June 2016
June 2017

Representative Director, President and Executive Officer,
Keikyu Corporation

June 2020
June 2021
June 2023

Professor, Graduate School of Law (Professional
Graduate School), Toyo University
Professor, Graduate School of International Social
Sciences, YOKOHAMA National University
Professor, School of Law, Meiji University (current
position)
Outside Director, Eisai Co., Ltd.
Outside Director, Mitsubishi Shokuhin Co., Ltd. (current
position)
Outside Audit & Supervisory Board Member, theCompany(Independent) Outside Director, Keikyu Corporation(current position)
Outside Director, The Akita Bank, Ltd. (current position)
Outside Director, the Company (Audit & Supervisory
Board Member) (current position)[Significant concurrent positions][Significant concurrent positions]

Professor, School of Law, Meiji University
Outside Director, Mitsubishi Shokuhin Co., Ltd.
Outside Director, Keikyu Corporation
Outside Director, The Akita Bank, Ltd.

[Responsibilities]

Parter lawyer, City-Yuwa Partners
Councilor, International Civil and Commercial Law Center
External Audit & Supervisory Board Member (part-time),
ALCONIX CORPORATION
Outside Director, DKK Co., Ltd.
Extramural Director, Komazawa University of Educational
Corporation

Senior Vice President, Business Development Department
Senior Vice President, Passenger Terminal Operation Department (in charge ofFacility Management)
Special Executive Assistant to the President[Significant concurrent positions]

Outside Director, KOMATSU MATERE Co., Ltd.

Registered as a lawyer and joined Nishimura Sogo law
firm (now Nishimura & Asahi)
December 2014 Special Counsel, City-Yuwa Partners
February 2016 Certified as a Certified Fraud Examiner (CFE)
June 2017
Councilor, International Civil and Commercial Law
Center (current position)
June 2020
External Audit & Supervisory Board Member(part-time) ALCONIX CORPORATION (current position)
June 2021
Outside Director, DKK Co., Ltd. (current position)
June 2022
Substitute Director, the Company(Audit & Supervisory
Board Member)
November 2022 Outside Director, the Company(Audit & Supervisory
Board Member) (current position)
January 2023 Partner lawyer, City-Yuwa Partners (current position)
March 2023
Extramural Director, Komazawa University of
Educational Corporation(current position)[Significant concurrent positions]

Outside Director, Haneda Mirai Kaihatsu Co., Ltd.
Outside Director, Kyushu Kumamoto International Airport Co., Ltd.

New appointment

New appointment

New appointment

Senior Managing Director,
Executive Officer

Managing Director,
Executive Officer

Outside Director,
Audit & Supervisory Committee Member

Takeshi Fujino

Keishi Matsuda

Kenji Iwasaki[Past experience, positions]

April 1991
June 2013

April 1994
June 2019

June 2020

June 2021

June 2022[Responsibilities]

Senior Vice President, Business Development Department (in chargeof New Business)
Senior Vice President, Passenger Terminal Operation Department(in charge of Retail Sales)
Special Executive Assistant to the President

71

June 2020

June 2022

June 2023

Joined the Company
Executive Officer; General Manager, Corporate
Planning Group, Planning & Administration
Department; Vice President, Business Reform Office;Vice President, Facility Planning Office / Tokyo Olympic& Paralympic Games Promotion Office, Facility
Management Group, Passenger Terminal Operation
Department
Executive Officer; General Manager, Corporate
Planning Group, Planning & Administration
Department; General Manager, Facility Management
Group, Passenger Terminal Operation Department;
Vice President, Facility Planning Office / Tokyo Olympic& Paralympic Games Promotion Office
Executive Officer; General Manager, Corporate
Planning Group, Planning & Administration
Department; Vice President, Facility Planning Office;General Manager, Business Development Department
Managing Director and Executive Officer (current
position)[Responsibilities]

Deputy Senior Vice President, Corporate Planning Group
Deputy Senior Vice President, Business Development Department
Special Executive Assistant to the President

Independent[Past experience, positions]
April 1978
June 2010
April 2014
April 2017

June 2017
June 2018
June 2022
June 2023

Joined Tokio Marine & Fire Insurance Co., Ltd.
Managing Director, Tokio Marine & Nichido Fire
Insurance Co., Ltd.
Senior Managing Director, Tokio Marine & Nichido Fire
Insurance Co., Ltd.
Executive Vice President, Tokio Marine & Nichido Fire
Insurance Co., Ltd.
Vice President Executive Officer, Tokio Marine
Holdings, Inc.
Executive Vice President, Tokio Marine & Nichido Fire
Insurance Co., Ltd.
Executive Vice President, Tokio Marine Holdings, Inc.
Executive Director, The General Insurance Associationof Japan
Outside Director, SOHGO SECURITY SERVICES CO., LTD.
(current position)
Outside Director, the Company (Audit & Supervisory
Board Member) (current position)[Significant concurrent positions]

Outside Director, SOHGO SECURITY SERVICES CO., LTD.

Outside directors
7 persons(47%)

Female directors

3 persons(20%)

Directors bygenderComposition of
directors(Total 15 persons)(Total 15 persons)

Data

June 2023

Joined the Company
Executive Officer and Vice President, International Terminal
Business Department
Managing Executive Officer, Deputy Senior Vice President,
Operation Department
Chief Managing Executive Officer; Deputy Senior Vice
President, Passenger Terminal Operation Department; Deputy
Senior Vice President, Business Development Department
Chief Managing Executive Officer in charge of Business
Promotion Office; Deputy Senior Vice President, Business
Development Department; Deputy Senior Vice President,
Passenger Terminal Operation Department
Chief Managing Executive Officer in charge of Business
Promotion Office; Deputy Senior Vice President, Business
Development Department (in charge of New Business);
Deputy Senior Vice President, Passenger Terminal Operation
Department (in charge of Retail Sales)
Senior Managing Director and Executive Officer (current
position)

OutsideCorporate governance[Past experience, positions]

June 2016* Attendance since taking office November 1, 2022

Materiality Initiatives[Responsibilities]

June 2013

Joined the Company
Executive Officer and Vice President, Corporate
Planning Division, Corporate Planning Department
Managing Executive Officer and Vice President,
Corporate Planning Division, Corporate Planning
Department
Managing Executive Officer; Deputy Senior Vice
President, Corporate Planning Department; andDeputy Senior Vice President, Administration
Department
Managing Director and Executive Officer
Senior Managing Director and Executive Officer
Member of the Board of Directors, Executive Vice
President and Executive Officer (current position)

Special Feature[Past experience, positions]
Joined Isetan Co., Ltd.
Representative Director, President and Executive
Officer, Isetan Co., Ltd.
June 2010
Director, Isetan Mitsukoshi Holdings Ltd.
April 2011
President, Representative Director, Executive Officer,
Isetan Mitsukoshi Ltd.
February 2012 Representative Director, President and Executive
Officer, Isetan Mitsukoshi Holdings Ltd.
April 2017
Director, Isetan Mitsukoshi Holdings Ltd.
July 2017
Special Adviser, the Company
June 2018
Member of the Board of Directors, Executive Vice
President and Executive Officer, the Company
June 2021
Outside Director, KOMATSU MATERE Co., Ltd. (current
position)
June 2023
Representative Director, Executive Vice President andExecutive Officer (current position)

5/5

Attendance at Audit and Supervisory Committee 5/5*

Attendance at Audit and Supervisory Committee 8/8

13/13

Medium-term Business Plan

Chairman of the Executive Committee
Chairman of the Business Management Committee
Chairman of the Group Management Committee
Chairman of the Compliance Promotion Committee
Chairman of the Sustainability Committee
Chairman of the Risk Management Committee

Joined the Ministry of Transport (currently the Ministryof Land, Infrastructure, Transport and Tourism)
Director-General, Civil Aviation Bureau, the Ministry ofLand, Infrastructure, Transport and Tourism
Commandant, the Japan Coast Guard
Full-time Adviser, the Company
Senior Executive Officer
Member of the Board of Directors, Executive Vice
President and Executive Officer
Representative Director, Executive Vice President andExecutive Officer (current position)
Outside Director, SAN-AI OBBLI CO., LTD.(current
position)

10/10*

Value Creation Story

April 1968
June 2001
April 2003
April 2005
April 2009

Attendance at Boardof Directors’ meetings

13/13[Past experience, positions]

Independent

The future we seek

Executive Team

Company
directors

8 persons(53%)

Male directors

12 persons(80%)

Japan Airport Terminal Report 2023

72

Data

Financial Highlights

Non-financial Highlights

Operating revenues

Food and Beverage(Millions of yen)

Facilities Management

Merchandise Sales

Operating income (loss)(Millions of yen)

30,000Net income (loss) attributable to ownersof the parent

Number of passengers at
Haneda Airport(Millions of yen)

40,00022,481

273,618
249,756

Management area Leasable area

Vacancy rate(ten thousand people)

（m ）

（%）

10,000350,000

33,0048,604

30,00015,000

9,892

8,000
20,000200,0000

150,000

10,000‑ 10,579‑ 15,000

The adoption of the AccountingStandard for Revenue Recognition

113,050

2018

2019

2020

2021

2022

(FY)

‑ 60,000

2018

2019

2020

2021

‑ 40,000

2018

2019

‑ 36,578
2020 2021

2022 (FY)(Millions of yen)（％）

540,000

250,000

100.0

460,000

150,000

2018

2019

2020

40.0

Number of employees (Female)*
Number of employees (Male)*

7,000

50,000

31.2

34.3

33.2

2018

2019

2020

2021

2022

(FY)

0

2,499

2019

2020

2021

2022

(FY)

0

1,374

40

2019

2020

2021

33.6

2022

2022 (FY)

Average length of service**
Average annual salary**

7,108

1,000

1,510

(FY)

0

2018

2019

0

2018

2019

2020

2022

2021

(FY)

Ratio of female managers**
（%）

（年）

6,987

45

20

41.6

39.4

39.1
38.2

6,600

15

6,518

32.3

30

10

6,200
6,069

1,433

2018

2021

6,400

1,177
30

20.0

2018

2020

6,800

2,729

15

6,000
1,459

500
0

2019

6,836

3,078 3,074

1,615
1,472 1,568

2018

Average length of service**
Average annual salary**

50

1,500
33.7

0

(FY)

2020

1,355 1,322

2021

20

2022

(FY)

0

2018

2019

2020

2021

2022

(FY)

0

2018

2019

2020

2022

2021

(FY)

Materiality Initiatives

100,000

420,000

2022

3,500
2,905

0.5

50,000

2,887

2021

1.5

1.0

100,000

5,306

（千円）

2,000

400,000

2,101
41

(Age)

60.0

446,955

440,000

6,539

2,970
83

2,500

140,9512.0

2.0

150,000(People)

3,000

80.0

156,009463,8782.6

200,000

680

Average age

484,654
480,000

250,000

Number of employees*
Average age**

521,363 519,193
195,5440

2.7

Special Feature(Millions of yen)

201,390 201,899

1,682

2,060

Equity capital to total assets

200,000

2.5

274,206

2,000

Net assets

500,000

8,221

4,000

‑ 25,217

Total assets

520,000

300,000

5,987

6,788

‑ 30,000

2022 (FY)

2.8

308,951 311,414

1.5‑ 3,901‑ 59,0200

3.0

332,653 332,856

Medium-term Business Plan

‑ 41,255‑ 45,000

20‑ 20,000

52,572 57,057

50,000

Domestic flights

6,000

5,012

‑ 10,000‑ 30,000

100,000

1,816International flights

Value Creation Story

300,000

250,000

The future we seek

Financial and Non-financial Highlights* Consolidated ** Non-consolidated

Capital investment

Net income (loss) per share

Environmental data

(Millions of yen)

(Millions of yen)

(yen)

Input (Amount of energy input)

30,000 25,799

80,00020,00070,000500
72,613400

406.31300
10,0005,699

60,000 57,559
50,000100

0040,000‑ 10,000‑ 20,000‑ 40,000

73

‑ 100

30,00020,00012,062‑ 30,000‑ 29,655

2018

2019

2020

2021

8,494

10,000‑ 37,1122022 (FY)0‑ 41.89

2018

2019

2020 2021

2022

(FY)

FY2022FY

FY2021

FY2022

Electricity

130,922MWh

152,525MWh

CO2 emissions

90,729t-CO2

106,250t-CO2

176.6KL

264.3KL

Gasoline

69KL

85.6KL

Heavy fuel
oil A

2KL

4.6KL

Kerosene

28KL

36KL

LPG

229t

313.7t‑ 300

City Gas

3,768 thousand N㎥

3,999 thousand N㎥

Steam/
cold water

401,695GJ

452,803GJ

Water usage-

701,698㎥

‑ 400

4,738

FY2021‑ 200‑ 270.75‑ 500‑ 445.92
2018

2019

2020

2021

2022

(FY)

（t）

Scope1

9,834t-CO2

10,897t-CO2

Scope280,895t-CO2

95,353t-CO2-

698,804㎥

Drainage amount

12,000Terminal 3
Terminal 2
Terminal 1

12,267
10,75010,000

3,947

4,070

8,000

6,000

6,115

3,731
2,974

4,000

2,000

3,755
3,076
403

4,589

3,706

1,199

2,042
1,397

1,474 1,863
0

2018

2019

2020

1,499

495

Data

‑ 14,231

61.71

OutputFY

Diesel200

Amount of waste byterminal

Corporate governanceFree cash flows

2021

2,574
2022 (FY)Japan Airport Terminal Report 2023

74

Data

Before TIAT consolidation

After TIAT consolidation

Adopting the Accounting Standard for Revenue Recognition

FY2013

FY2014FY2015FY2016FY2017FY2018FY2019FY2020

FY2021

FY2022

147,116

173,505

204,134

204,953

225,953

273,618

249,756

52,572

57,057113,050

Operating income (loss)

6,194

9,888

11,302

9,497

13,42922,481

9,892‑ 59,020‑ 41,255‑ 10,579

Ordinary income (loss)

5,723

11,84913,654

12,843

16,696

20,3798,705‑ 57,320‑ 43,861‑ 12,064

Net income (loss) attributable to owners of the parent

2,979

6,648

8,870

6,886

11,77633,004

5,012‑ 36,578‑ 25,217‑ 3,901

185,358

218,229

222,542

213,026

239,389484,654521,363

519,193

463,878446,955

53,976

71,16563,05554,13566,744

215,850

243,557

265,040

257,150

244,304

Net assets

101,866

112,530

118,394

125,438

136,156

201,390

201,899

195,544

156,009140,951

Cash ﬂows from operating activities

15,204

19,52015,235

15,62022,25734,28820,222‑ 4,387‑ 9,305

16,326

Cash ﬂows from investing activities‑ 9,660‑ 4,008‑ 7,810‑ 8,373‑ 28,474‑ 8,489‑ 57,334‑ 25,268‑ 4,926‑ 10,627

Cash ﬂows from ﬁnancing activities‑ 6,574

16,251

10,759‑ 11,702

9,438

19,152

21,64478,228‑ 9,035‑ 12,641

EBITDA

18,874

21,76022,534

21,10624,235

47,11537,699‑ 24,710‑ 9,540

18,375

5,765

4,830

8,379

6,853

27,88557,55972,613

8,494

4,738

12,062

12,68011,872

11,232

11,60910,806

24,63427,80734,31031,71528,954

36.68

81.84

109.2084.78

144.98406.3161.71‑ 445.92‑ 270.75‑ 41.89

1,235.25

1,349.32

1,427.66

1,511.92

1,641.82

2,011.61

2,001.83

1,910.83

1,655.32

1,613.62

13.00

21.00

33.00

33.00

44.00

45.00

32.00

0.0

0.0

16.0

Return on equity7

3.0

6.3

7.9

5.8

9.2

22.2

3.1

−

−

−

Return on assets8

3.1

5.9

6.2

5.9

7.4

5.6

1.7

−

−

−

Equity ratio

54.1

50.2

52.1

57.7

55.7

33.7

31.2

34.3

33.2

33.6

0.4

0.2

0.2

0.1

0.2

0.8

1.1

0.8

1.0

1.0

35.4

25.7

30.2

38.9

30.3

31.2

51.9

−

−

−

Price earnings ratio10

73.1

89.0

36.6

45.6

28.0

11.5

67.7

−

−

−

Price book-value ratio11

2.2

5.4

2.8

2.6

2.5

2.3

2.1

2.8

3.4

4.1

EV/EBITDA ratio

14.1

29.5

16.0

16.3

15.3

11.9

15.0

−

−

41.3

The future we seek

Ten-Year Financial Summary

Consolidated Financial Figures (Millions of yen)
Operating revenues1

Interest-bearing debt

2

Capital expenditures4

Depreciation and amortization

Medium-term Business Plan

3

Value Creation Story

Total assets

Per Share Data (Yen)

Book-value per share

6

Dividends per share
Financial Indicators (%)

Dividend payout ratio

9

Trading Indicators

12

FY2021, for transactions in which the Company’s role in providing goods or services to customers falls under the category of agent, revenue is now
recognized as the net amount, the amount received from customers less the amount paid to suppliers.
2. Interest-bearing debt＝Bonds + Short-term loans payable + Long-term loans payable + Lease obligations
3. EBITDA＝Operating Revenues + Depreciation and Amortization
4. Capital Expenditures＝Increase of Tangible fixed assets(excluding the impact of sale and disposal)
5. EPS=Net Income Attributable to Owners of the Parent / Average outstanding shares during the period(excluding treasury stock)

Corporate governanceNotes: 1. The Company has adopted the “Accounting Standard for Revenue Recognition” and relevant revised ASBJ regulations from the beginning of theMateriality Initiatives

Net debt equity ratio

Special Feature

Earnings per share5

6. BPS＝(Total Equity - Non-controlling interests) / The number of shares at March 31 each (excluding treasury stock)
7. ROE＝Net Income Attributable to Owners of the Parent / Average of Shareholders' equity at the beginning and end of the period
8. ROA＝EBITDA / Average of Total Assets at the beginning and end of the period
9. For FY2018, the calculation excludes the impact of Extraordinary gains, loss and its tax effect due to consolidation of TIAT.
10. PER = Closing Market Price / EPS

Data

11. PBR = Closing Market Price / BPS
12. EV/EBITDA Ratio = (Liabilities with interest - Cash and Cash Equivalents +Market capitalization + Non-controlling interests)/EBITDA

75

Japan Airport Terminal Report 2023

76

Data

Group Companies*As of March 31, 2023

Name

Name

Japan Airport Terminal Co., Ltd.

Date of Establishment

July 20, 1953

Paid-in Capital

38,126,380,000 yen (As of March 31, 2023)

Tokyo International Air
Terminal Corporation (TIAT)Business details

Facilities
management• Lease of offices, stores, and other spaces to airline companies andairport-based businesses• Guidance and lounge services for international passenger terminal buildings• Provision of rental meeting rooms, other services, and parking lot business• Merchandise sales targeting international passenger terminal users

Acquired certifications

Address

Terminal 1, 3-3-2 Haneda Airport, Ota-ku, Tokyo 144-0041, Japan
Tel: +81-3-5757-8000• CASBEE Building (New Construction) S-Rank (July2010)• CASBEE Building (Renovation) S-Rank (August 2014)• CASBEE Building (Renovation) S-Rank (December
2019)• Maintenance and management of airport terminal facilities and equipment

Japan Airport Techno Co., Ltd.

Facilities
management272 (as of March 31, 2023)• Cleaning, planting, and other environmental management• Design and construction of buildings and facilities• Airport terminal services• ISO 9001 (November 14, 2003)• ISO 14001 (February 12, 2013)• House cleaning services* Consolidated: 2,499(Facilities Management: 915, Merchandise Sales: 881, Food and Beverage: 526, Other: 177)

Facilities
management

Sakura Shokai Co., Ltd.

Facilities
management• Facility security services• Airport security guard duties (airline security checks)• Parking lot management• Waste treatment operations• ISO 14001 (June 2003)• Advertisement planning, management, and agency services• Event planning and management• Life insurance solicitation and non-life insurance agency business(As of March 31, 2023)• Vending machine sales of beverages, food, telephone cards, and alcoholic
beverages

BIG WING Co., Ltd.

9706

Stock Listing

Prime Market, Tokyo Stock Exchange

Number of shares per unit

100 shares

Number of shareholders 9,285• Planning, production, and sales of pamphlets and other printed materials• Real estate sales, leasing, and management

Shareholdings Structure• Restaurant business• Pet hotel operation and management• Relaxation services

Individuals
and others
5.29％• Salon business

Financial
institutions
35.44％

Total number of authorized
288,000,000 sharesshares to be issued
Number of issued shares 93,145,400 shares (including 8,983 treasury stock)• Sales of mobile phones, daily sundries, household furnishings, and foodproducts

Foreigners
25.42％

Other domestic
corporations
33.46％

Major Shareholders
Shareholding ratio (%)

The Master Trust Bank of Japan, Ltd. (Trust Account)

9,537

10.24

SSBTC CLIENT OMNIBUS ACCOUNT

5,471

5.87

Japan Airlines Co., Ltd.

4,398

4.72

ANA Holdings Inc.

4,398

4.72

Custody Bank of Japan, Ltd. (Reinvested portion of the Keikyu Corporation pension
benefits trust fund managed by The Sumitomo Trust and Banking Co., Ltd.)

3,484

3.74

MUFG Bank, Ltd.

3,408

3.65

Mizuho Bank, Ltd.

3,300

3.54

Custody Bank of Japan, Ltd. (Trust Account)

3,283

3.52

Mitsubishi Estate Co., Ltd.

3,111

3.34

Taisei Corporation

2,831

3.03

Facilities
management

Japan Airport Ground
Handling Co., Ltd.

Facilities
management

Haneda Future ResearchInstitute Incorporated

Facilities
management• Further enhances value of existing airport operations, develops new
business models, and functions as a think tank

Haneda Airport EnterpriseCo., Ltd.

Merchandise
sales• Operation of duty free shops and other airport stores

International Trade Inc.

Merchandisesales• Other services incidental to the preceding paragraph (attendant services,in-building broadcasts, radio broadcasts)• Travel services (travel agency services, ticket sales, etc.)• Passenger handling operations• Ramp handling operations• Private jet handling operations• Eruboshi certification (February 24, 2021)• Kurumin certification (March 24, 2021)• Health Excellent Company Silver Certification (October
19, 2022)• Wholesale business and merchandise sales to airport stores nationwide• Facility services business• Inspection, storage, and delivery of merchandise sold at Tokyo International
Airport, Narita International Airport, and other airports

Japan Airport Logitem Co., Ltd.

Merchandise
sales• Transportation• Customs clearance• G-mark certification, Japan Trucking Association(January 1, 2007)• Warehousing• Green Management certification (May 20, 2004)• Sales of business supplies

Corporate governance

Number of shares (Thousands)• General information services for airport users (domestic and international flights at Haneda Airport)

Haneda Passenger Service
Co., Ltd.

• Leasing of real estate and operation and management of parking lots

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

Merchandise
sales• Merchandise sales and wholesale business at Chengdu Shuangliu
International Airport

Hamashin Co., Ltd.

Merchandisesales• Wholesale marine products and processed marine food products

Japan Duty Free Fa-So-La
Isetan Mitsukoshi Co., Ltd.

Merchandise
sales• Operation of airport duty free stores throughout the city

Air BIC INC.

Merchandise
sales• Sales of home appliances, travel goods and daily sundries

Tokyo Airport Restaurant Co., Ltd.

Food andbeverage

Materiality Initiatives

Securities
firms
0.38％

Special Feature

Security CodeFacilities
management

Medium-term Business Plan

Haneda Airport Security Co., Ltd.

Value Creation Story• Food, beverage and coffee shop services for international passenger
terminal users

Nobuaki Yokota

Stock Information• Operation of restaurants• Operation of commissioned lounges and multipurpose halls• Box lunch sales• Box lunch deliveries within and outside the airport and catering services

Cosmo Enterprise Co., Ltd.

Food andbeverage

LANI KE AKUA PACIFIC, INC.

Food andbeverage• Restaurant and other businesses

KAIKAN KAIHATSU Co., Ltd.

Food andbeverage• Restaurant business, management and operation of lodging, halls, andmeeting rooms• Preparation and loading of in-flight meals• Production and sales of frozen and retort-pouch foods• HACCP certification (Taiei Unit: May 11, 2017; Haneda
Unit: May 12, 2017)

Data

77

Business• Management and operation of international passenger terminal buildings

President

Number of
Employees(19 consolidated Group companies)

The future we seek

Corporate Data

• Halal certification (Taiei Unit: January 9, 2014; Haneda
Unit: May 14, 2014)

Japan Airport Terminal Report 2023

78

Japan Airport Terminal Co., Ltd.
Sustainability Management Officewww.tokyo-airport-bldg.co.jp/en/
Terminal1, 3-3-2 Haneda Airport, Ota-ku, Tokyo 144-0041
Tel.: 81 + 3-5757-8064