April 1, 2018 to March 31, 2019 (FY18)

Earnings Presentation Material(May 17, 2019)* This document has been translated from the Japanese original, for reference purposes only.
If there is any discrepancy between this translated document and the Japanese original, the original
shall prevail.

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

Contents
April 1, 2018 to March 31, 2019 (FY18)
Earnings Presentation Material
1 ．Review of Consolidated Financial Results for FY18（１）Business Environment

P ２（２）Initiatives for Management Issues

P（３）Consolidated Financial Results

P ４

３

2 ．Consolidated Financial Forecast for FY19（１）Management Issues for the Current Term

P５（２）Business EnvironmentP５（３）Consolidated Financial Forecast for FY19P ６（４）Forecast of Operating Revenues by Segment

P ７

３．Impact on the Medium-Term Business Plan and the Numerical Plan
（１）Progress of Investment Plan

P（２）Differences in the Profit-loss Plan for FY19 from the Medium-Term Plan

P ９（３）Forecasts for the profit-loss plan for FY20

P １０

８

４．Progress under the Medium-Term Business Plan
（１）Progress of Business Strategies

P １１（２）Pursue ‘Vision’ for Haneda Airport

P １２（３）Expand Business Domains that Leverage Strengths and Diversify Earnings

P １４（４）Redevelop Earnings Base and Establish Competitive Position

P １５（５）Additional Measures

P １５

5 ．ESG Initiatives

P １６

Contents
Supplementary Material
1. Details of Consolidated Financial Results for FY18(1) Changes in Passenger Volume(Haneda, Narita, Kansai and Chubu Centrair)

P １８(2) Consolidated Financial Results for FY18P １９(3) Financial Results by Segment(i) Facilities management

Reference Material
1. Outline of Japan Airport Terminal Group(1) Business Details

P ３８(2) Basic Philosophy and Management Policy

P ３９(3) Company History

P ４０

P ２１

(4) Group Companies

P ４１(ii) Merchandise sales

P ２２

P ４２

(iii) Food and beverage

P ２３(5) Revenue Composition/Details by Segment,
Composition of sales(4) Breakdown of Selling, General and
Administrative Expenses

P ２４(6) Changes in Capital Investment

P ４３
P ４４

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

P ２５(7) Summary of Tokyo International Air
Terminal Corporation(6) Consolidated Balance Sheets

P ２６(7) Consolidated Statements of Cash FlowsP ２７(1) Location Map

P ４５[Reference] Purchasing Trends of Non-Japanese
Passengers by Nationality

P ２８(2) Comparison of Passenger Volume

P ４６(3) Domestic Destinations and Flights

P ４７(4) International Destinations and Flights

P ４８(5) International Rating of the Haneda Airport
Passenger Terminal

P ４９

2. Details of Consolidated Financial Forecast for FY19(1) Consolidated Financial Forecast for FY19P ３１(2) Financial Forecast by Segment(i) Facilities management

P ３２(ii) Merchandise sales

P ３３(iii) Food and beverage

P ３４

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

P ３５(2) Changes in Operating Revenues/Ordinary
Income/Cash FlowsP ３６

2. Summary of Tokyo International Airport (Haneda)

Earnings Presentation Material

April 1, 2018 to March 31, 2019 (FY18)

1. Review of Consolidated Financial Results for FY18
2. Consolidated Financial Forecast for FY19
3. Impact on the Medium-Term Business Plan and the Numerical Plan
4. Progress under the Medium-Term Business Plan
(1) Progress of Business Strategies(2) Pursue ‘Vision’ for Haneda Airport(3) Expand Business Domains that Leverage Strengths andDiversify Earnings(4) Redevelop Earnings Base and Establish Competitive Position(5) Additional Measures
5. ESG Initiatives

1. Review of Consolidated Financial Results for FY18
(1) Business Environment
Both non-Japanese passengers to Japan and Japanese passengers departing from Japan
continued their upward trend, with increased demand for air transportation
 Especially a record-high 31.19 million non-Japanese passengers visited Japan in CY2018
 Meanwhile, the consumption trend significantly changed, including a slowdown in spending on
shopping during travel by non-Japanese passengers to Japan with less per person consumption
 In the exchange rate market, while the yen depreciated against the dollar, a strong yen andweak yuan continues
Business
Environment

Haneda domestic flights recovered in the second half of the year despite the impact of natural
disasters in the first half Haneda international flights continued their upward trend, due to effects from increases in latenight flights throughout the year Despite a recovery from natural disasters at Haneda, Narita and Kansai airports, theinternational passenger figure did not see a rise to the level of modified prediction for thesecond half of the yearNumber of
Passengers(YoY comparison)

The number of passengers(YoY comparison)

AirportNote: Haneda Airport passenger volume is based on aggregate statistics of airport usage within thejurisdiction of East Japan Civil Aviation Bureau (as of April 2019), available on the website of the East Japan
Civil Aviation Bureau of the Ministry of Land, Infrastructure, Transport and Tourism, and other information.

FY18 1H

FY18 2H

FY18

(%)

(%)

(%)

No. of

Revisedpassengers

forecasts(10 thousands)(10 thousands)

Comparison with
forecasts (%)

0.2

3.3

(

2.8 )

1.7

6,754

6,740

0.2

7.4

4.9

(

6.2 )

6.1

1,816

1,827

-0.6

Total Haneda

1.6

3.6

(

3.5 )

2.6

8,570

8,568

0.0

Narita

8.5

5.8

(

7.1 )

7.1

3,587

3,609

-0.6

Kansai1.5

7.3( 11.6 )

4.5

2,289

2,337

-2.1

Chubu Centrair

7.6

11.7

(

9.6

609

591

3.1

Haneda – Domestic
Haneda –International

4.9 )* Figures in parentheses are revised forecasts for the second half of the year
Japan Airport Terminal Co., Ltd.

02

1. Review of Consolidated Financial Results for FY18(2) Initiatives for Management Issues
Management Issues

Status of Initiatives• Achieved faster response to natural disasters throughstrengthening the cooperative structure• Further improvement of service level through seamless CS
promotion activities

Realize concrete benefits
from TIAT consolidation and optimize its
effects(TIAT: Tokyo International Air Terminal Corporation.
The same applies below)• Quick decision making through ensuring company-wide information
sharing• Improving efficiency in operation through promoting advanced
computerization and deploying IT for domestic and internationalterminals• Reducing costs through promoting seamless procurement cost
reduction project including the integration of resource planningsystems• Launch of renovation of Terminal 1

Respond swiftly to changes in environment(respond in terms of facilities and services,establish new company in run-up to 2020)• Start of Terminal 2 Satellite operation• Opening of "THE HANEDA HOUSE" interactive commercial facility• Further strengthening of disaster measures• Renovation of stores to meet changing consumption trends• Promotion of the Haneda Airport official website integration project

Further improvements
to urban duty-free stores• Preparation for significant review of brands and merchandising for
FY19• Distribution of promotional videos on YouTube• Strengthening locking in of JapaneseJapan Airport Terminal Co., Ltd.

03

1. Review of Consolidated Financial Results for FY18(3) Consolidated Financial Results○ Differences from previous fiscal year results

Main
Factors
BehindChanges

Large increase in operating revenues and operating income due to TIAT consolidation, temporary extraordinary income
and losses

Sales growth in the facilities management due to an increase in domestic-flight related rent revenue and facility user
charges revenueSales growth in the merchandise sales business, reflecting opening of new stores, in addition to merchandise sales growth
at existing stores○ Differences from revised forecasts


The merchandise sales segment fall below forecasts, due to a change in the trend of consumption by Chinese passengers
in the second half of year reflected in merchandise salesIn addition to less cost incurred for Terminal 2 Satellite than the initial forecast, better operating income than expected
due to reviewing of various costs

Consolidated financial results for FY18

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

FY18

Items

Revised

FY18

FY17

Amount affected

ChangeAmount affected*1

due to TIAT
consolidation

273.6

Operating revenues

Medium-Term

forecasts

FY18

Difference

Business Plan
Forecast

due to TIAT

Difference＊2

consolidation

31.9

225.9

47.6

277.1

31.3

-3.4

266.0

7.6

(Facilities management)(82.0) (

20.8)

(

58.4)

(

23.6)

(

81.0) (

20.4)

(

1.0)

(

80.6)

(

1.4)

(Merchandise sales)(

171.4) (10.8)(

147.7)

(

23.6)

(

176.2) (

10.7)

(

-4.7)

(

166.1)(

5.3)(Food and beverage)(20.0) (

0.1)

(

19.7)

(

0.3)

(

19.9) (

0.2)

(

0.1)

(

19.1)

(

0.9)

Operating income

22.4

9.3

13.4

9.0

21.7

8.8

0.7

20.5

1.9

Ordinary income

20.3

4.3

16.6

3.6

19.4

3.7

0.9

18.1

2.2

Net income attributable to

33.0

21.3

11.7

21.2

32.4

21.1

0.6

31.3

1.7

owners of parent* Calculated primarily from "gain on negative

Japan Airport Terminal Co., Ltd.

Annual dividend

¥45.0

¥44.0

¥44.0

Payout ratio

31.2% *

30.4%

32.2% *

Capital expenditures

57.5

27.8

Depreciation expenses

24.6

10.8

*1 Financial forecast announced in November 2018

EBITDA

47.1

24.2*2 Income and expense forecasts announced in May 201804

goodwill," comprised of temporary income andexpenses arising from the consolidation of TIAT,
excluding the tax effect amount.

2. Consolidated Financial Forecast for FY19(1) Management Issues for the Current Term

Promote preparation for the operation of Haneda Internationalized facilities after
starting operation
Steadily meet the change in the trend of consumption by Chinese visitors to Japan
Implement the profit plan with an eye toward ensuring the achievement of the
Guidelines for FY20 (fiscal year ending March 31, 2021)(2) Business Environment
Business
Environment

 Trends concerning trade issues, the future of the Chinese economy and impact of

the consumption tax increase in Japan noted as risks to the economy's future On the other hand, in addition to the increase in non-Japanese visitors to Japan,
brisk demand for travel from Japanese passengers due to long holidays, etc. and thechange in era name expected to have a positive effect on the consumer mind

The number of passengers forecast for FY19 (YoY comparison)

Number of Passengers (YoY comparison)

FY19

FY19 (Forecast)

FY18 (Results)(%)(10 thousands)(10 thousands)

2.5

6,926

6,754

3.3

1,876

1,816

Total Haneda

2.7

8,802

8,570

Narita

5.5

3,783

3,587

Kansai

9.5

2,507

2,289

Chubu Centrair

6.9

652

609

AirportHaneda – Domestic

Increase in Haneda domestic flights, due to effects ofbusiness demand, domestic travel among non-Japanesevisitors to Japan, and long holidays
 Increase in Haneda international flights, due to brisk
demand from non-Japanese visitors to Japan, despite theeffect of increase in late-night flights to be prevented
 Increase in international flight passengers at Narita, Kansai
and Chubu Centrair Airports, due to demand from nonJapanese visitors to Japan


Japan Airport Terminal Co., Ltd.

Haneda –International05

2. Consolidated Financial Forecast for FY19(3) Consolidated Financial Forecast for FY19
Main Factors
BehindChanges Increase in operating revenues due to increased number of passengers and theeffect of renovation of duty-free stores at Haneda international terminal Decrease in operating income due to increased burden of the cost of supplies andpersonnel following the start of operation of internationalized facilities, support for
FAST TRAVEL at international terminal and renovation of storesConsolidated financial forecast for FY19
Items

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

FY19

FY19
(Forecast)Amount affected

FY18

Amount affected

due to TIAT

(Results)

due to TIAT

Rate of change

Change(%)

consolidation

consolidation

Operating revenues

277.5

30.7

273.6

31.9

3.8

1.4

Operating income

16.0

6.8

22.4

9.3

-6.4

-28.8

Ordinary income

14.2

4.4

20.3

4.3

-6.1

-30.3

8.0

1.6

33.0

21.3

-25.0

-75.8

Capital expenditures

77.0

30.0

57.5

13.1

Depreciation expenses

26.7

13.5

24.6

13.2

EBITDA

42.7

20.3

47.1

22.6

Annual dividend

¥40.0

¥45.0

Payout ratio

40.6%

31.2% *Net income attributableto owners of parent

Japan Airport Terminal Co., Ltd.

06

* Calculated primarily from "gain on negative
goodwill," comprised of temporary income andexpenses arising from the consolidation of TIAT,
excluding the tax effect amount.

2. Consolidated Financial Forecast for FY19(4) Forecast of Operating Revenues by Segment
Note: Figures shown are rounded down to the nearest 100 million yen. (Billions of yen)

Items

FY19

Amount affected

FY18

Amount affected(Forecast)due to TIAT

(Results)

due to TIAT

consolidation

Rate of change

Change(%)

consolidation

84.1

20.0

82.0

20.8

2.0

2.5

18.1

4.0

17.4

3.9

0.6

3.7

44.8

25.2

43.5

24.4

1.2

3.0

Other revenues

21.2

-9.2

21.0

-7.4

0.1

0.5

Merchandise sales

173.2

10.5

171.4

10.8

1.7

1.0

35.7

–

36.2

–

-0.5

-1.4

101.3

63.2

98.5

59.3

2.7

2.8

36.2

-52.7

36.7

-48.4

-0.5

-1.5

Food and beverage

20.2

0.2

20.0

0.1

0.1

0.5

Sales from restaurants

12.5

3.0

12.5

2.9

0.0

-0.1

Sales from in-flight meals

6.9

–

6.7

–

0.1

2.0

Other sales

0.8

-2.8

0.8

-2.7

0.0

-2.0

Facilities management
Rent revenue
Facility user charges
revenue

Sales at domestic terminal
storesSales at internationalterminal stores
Other sales* Main item for “Other Revenues”/“Other Sales” in each segment• Facilities management: Subcontracted work revenues, income from parking lots, income from hotel business, income from advertising andlounges, etc.
• Merchandise sales:
Income from wholesaling, etc. (Duty-free goods, others to Narita Airport and other airports)• Food and beverage:
Income from catering airline lounges, etc.

Japan Airport Terminal Co., Ltd.

07

3. Impact on the Medium-Term Business Plan and the Numerical Plan
(1) Progress of Investment Plan
2016-2018

Revised planPreviously announced figures

Change from

(Results for 3 years)

2016-2020(May, 2018)

announced figures

Pursue 'Vision' for Haneda Airport

78.0

152.0

149.0

+3.0

(including Haneda internationalization related items)(54.0)(100.0)(104.0)Redevelop Earnings Base and Establish Competitive

12.0

18.0

16.0

+2.0

2.0

4.0

2.0

+2.0

3.0

7.0

7.0

+0.0

1.0

1.0

1.0

+0.0

96.0

182.0

175.0

+7.0

Strategic Pillar
(Billions of yen)previously

Capital expenditure

Position
Realignment and Enhancement of Organization, Human
Capital and Governance

(

-4.0)

 Other investment
Expand Business Domains that Leverage Strengths andDiversify Earnings
Realignment and Enhancement of Organization, Human
Capital and Governance

Subtotal* Excludes additional investment in TIAT

Main Breakdown of Factors behind Changes
Factors for increaseSupport for FAST TRAVEL at international terminalAdditional repair of existing facilities and stores

Acquisition and improvement of welfare facilities (dormitory)Additional improvement of separate buildings in connection
with Terminal 2 internationalization related items

Factors for decreaseReduction of TIAT's Haneda internationalization related investment

Japan Airport Terminal Co., Ltd.

08

Addition of safetymeasures construction(Not included at the
moment)・Disaster mitigation
measures for some partof the ceiling3. Impact on the Medium-Term Business Plan and the Numerical Plan
(2) Differences in the Profit-loss Plan for FY19 from the Medium-Term Plan
Items
PL (¥ billion)

FY19

FY19

Plan

(Revised forecast)

Change(¥ billion)(¥ billion)(¥ billion)

270.0

277.5

7.5

Facilities management

83.0

84.1

1.1

Merchandise sales

167.7

173.2

5.5

Food and beverage

19.3

20.2

0.9

Operating income

17.0

16.0

-1.0

(Operating income ratio)(6.3%)(5.8%)(-0.5 p)Ordinary income

15.0

14.2

-0.8

9.0

8.0

-1.0

Operating revenues

Net income attributable toowners of parent

Main Factors behind Changes
Operating revenues
 Upward swing in the number of domestic and international passengers, contributing to increased operating
revenue of each segment
 In facilities management operations, upward swing in rent revenue due to better than expected facility user
charges revenue due to increased number of passengers and increase in demand for leasable space in airport
terminals from airline companies and other business operators
 As for the merchandise sales business, upward swing in merchandise sales due to the effect of sales promotion
through store renovation and deployment of diverse selling methods including e-commerce
Operating income Downswing due to additional construction for quick response to changing environment (support for FASTTRAVEL, repair of existing facilities and stores, etc.), increase in personnel cost exceeding the plan, and so on
Japan Airport Terminal Co., Ltd.

09

3. Impact on the Medium-Term Business Plan and the Numerical Plan
(3) Forecasts for the profit-loss plan for FY20
- Work to achieve the target indicators for FY20 as the priority issues
ROA (EBITDA): at least 12%; Operating margin: at least 8%- As for consolidated operating income, consider achieving over 25 billion yen
an absolute priority
Progress of the Guidelines
Indicator
Indicator
type

FY18
(Results)

FY20targets

Comprehensive

ROA（EBITDA）

13.0%

12%

Profitability

Operating income ratio

8.2%

8%

Stability

Equity ratio

33.7%

Aim for stable levels assoon as possible○ Points to note in the profit-loss plan for FY20
◆Plan to increase flights at Haneda international terminal- Specific time to enter service, trend of aircraft to be used: The revenue from facilities
management operations to be affected- Destinations (half of them are the U.S.): The revenue from merchandise sales to be affected◆Trend of consumption by Chinese visitors to Japan- The per-unit purchases at duty-free stores at Haneda international terminal, which is ¥8,900
per person (average for FY18), to be affected

Japan Airport Terminal Co., Ltd.

10

4. Progress under the Medium-Term Business Plan
(1) Progress of Business Strategies”To Be a World Best Airport 2020”“Create business and earnings opportunities in pursuit of our‘Vision’ for Haneda Airport and redevelop earnings base bystaking out a competitive position”

Three Core Strategies
Expand Business Domains that
Leverage Strengths andDiversify Earnings• Open after renovation of acomprehensive duty-free store at
Haneda international terminal• Increasing earnings of urban dutyfree stores• Participating in Kumamoto Airport
operations• Starting Palau International Airport
operations• Signing a shareholders agreement forthe participation of Khabarovsk Novy
Airport (Russia) operations

Japan Airport Terminal Co., Ltd

Pursue ‘Vision’ for Haneda Airport• Promotion of domestic/international
shared use terminal plan (T2internationalization)• Improvement of environment inside
the T1 building through renovation• Start of operation of T2 domestic
terminal satellite• Start of operation of expanded P4parking space• Acquire the world's No. 1 positionin three SKYTRAX category awards• Conclude the 2020 Tokyo
Olympics/Paralympics official partner
agreement (airport service)• Give awards for the promotion of therobotics business• Business promotion for Haneda Future
Research Institute11

Redevelop Earnings Baseand Establish Competitive
Position• Opening of THE HANEDA HOUSE(Enhancement of interactive
commercial facilities)• Promotion of vacant space
utilization measures• Opening of Air Bic Camera newstores (Chubu Centrair, Naha)• Borderless EC business initiatives

4. Progress under the Medium-Term Business Plan
(2) Pursue 'Vision' for Haneda Airport
1) Initiatives for Terminal Building ReadinessTerminal 2 Satellite

Terminal 2 North-side boarding station

Terminal 2 international
flight facility

Domestic flight area

Exterior view (image)

Terminal 2 office space
expansion

Expansion of P4 parking
structure
Terminal 1

Exterior view (image)International flight terminal
extension

International flight area

Terminal 1 renovation
International flightterminal(Terminal 3)

Exterior view (image)

Japan Airport Terminal Co., Ltd

Interior view (image)12

4. Progress under the Medium-Term Business Plan
2) Development situation of commercial facilities(Terminal 2 international flight facility related items)◆Assumptions in the plan for the development area
- Used by ANAInternational security area on 3rd floor- Establishment of arrival duty-free stores◆Sales target for duty-free area
- T2 + T3 = 80 billion yen per year
*T2: Terminal 2
T3: Terminal 3 (Currently, the international terminal)(Present level: approx. 60 billion yen)

◆ Store area (Duty-free mall on 3rd floor in the international
security area)
Approx. 1,400 m2

Duty-free mall

◆ Management style
Directly managed stores by TIAT, which are operated by
Japan Airport Terminal under contract

Japan Airport Terminal Co., Ltd

13

4. Progress under the Medium-Term Business Plan
(3) Expand Business Domains that Leverage Strengths and Diversify Earnings
1) Initiatives for the entire duty-free business◆ Renovation of airport duty-free stores with an eye
toward 2020 (Boutique store at Haneda
international terminal, comprehensive duty-freestore at Narita Airport)◆ Comprehensive business expansion using borderlessEC sites◆ Further profit increase in the urban duty-freebusiness (Renovation of some sections, brandreplacement)

Urban duty-free stores: Results for FY18 and forecasts(Billions of yen)
FY 16

FY 17

FY 18

FY 19

(Results) (Results) (Results) (Forecast)
Operatingrevenues
OperatingincomeJapan Airport Terminal Co., Ltd

8.4

9.7

9.7

11.8

-1.8

0.3

0.4

0.4

0.4

◆ Palau International Airport operations

14(Plan)

5.1

2) Initiatives for domestic and overseas airport businesses◆ Kumamoto Airport operations

FY 20

4. Progress under the Medium-Term Business Plan
(4) Redevelop Earnings Base and Establish Competitive Position(i) Vacant Space Utilization Measures (Domestic Passenger Terminals)◆ Vacancy rate at the end of March 2019, new target for FY20*The previously announced figure (May 2018): 2.5% or less

FY16
FY17
(Results) (Results)

6.0%

4.9%

FY18
(Results)

FY19

2.2%

FY20
(Target)1.5% orless

Up 1.0 pt. from

(Main vacant space utilization measures for
FY18)
 Interactive commercial facility"THE HANEDA HOUSE"

the previously announced
targetBy increasing space leased toairline companies, etc. throughaggressive efforts…

(5) Additional Measures◆Initiatives for safe and secure Haneda Airport
As measures that go one step further from the previous initiatives…
 As a measure to prevent flooding of the terminal underground
Install "water stop boards"
 As a measure to prevent glass scattering due to storms
Install "Scattering prevention films"
Japan Airport Terminal Co., Ltd15

 Water stop boards installed at Terminal 1

5. ESG Initiatives
Point:- Continuing to work on initiatives started at the time of founding based on the corporate philosophy,"Balancing Public Good and Business Success"- Pursuing to become the most highly rated airport in the world, or the world's best airport, based on
the long-term vision established in the present medium-term management plan

Category

Main initiatives

Most recent initiatives

Environment• Energy saving measures (Use of LEDs forlighting equipment, introduction of hybrid
vehicles)• Use of natural energy (Green power, solar
power generation)• Consideration of measures for reducing
incinerated waste upon expanding awaste treatment plant• Dealing with the marine plastic debris
problemSocial• Improvement of labor productivity throughenhanced working environment• Spread of diversity (female executives,
hiring of foreign national employees, etc.)• Donation of money for school lunch todeveloping countries (TABLE FOR TWO)

• Effort for transmitting art and cultureof Japan and for regional revitalization(Business of Haneda Future ResearchInstitute)• Increasing interaction with local
residents (Haneda area)

Governance• Verification of effectiveness evaluation of theboard of directors• Establishment of thenominating/remuneration committee• Strong governance, strengthening of
the board of directors• Cybersecurity measures

Japan Airport Terminal Co., Ltd.

16

Earnings Explanatory Meeting
April 1, 2018 to March 31, 2019 (FY18)

Supplementary Material
1. Details of Consolidated Financial Results for FY18
2. Details of Consolidated Financial Forecast for FY19
3. Other Information* This document has been translated from the Japanese original, for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original,
the original shall prevail.

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

1. Details of Consolidated Financial Results for FY18(1) Changes in Passenger Volume (Haneda, Narita, Kansai and Chubu Centrair)(Thousand passengers)(Thousand passengers)
72,000

20 ,000

Haneda Airport – domestic flights

70,00067,543(Compared to Oct. 2018
revised forecast +0.2%)

68,00017,120

18 ,000

FY18 results +1.7%

16 ,000

66,412(＋1.7％ ）66,00013,434

14 ,000

64,242

11,55864,000

12 ,000

62,000

10 ,000

62,65662,553Oct. 2016
Flights to and from the U.S.
up from 8 to 12 flights/day

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

1H results ＋ up 0.2％
2H results ＋ up 3.3％

FY

FY
2013

2014

2015

2016

2017

2018

4, 00020 13

2019← Results

20 16

20 17

20 18

← Results

FY18 results +7.1%(Compared to Oct. 2018
revised forecast －0.7%)

30,00037,83825,00035,870(＋5.5％ ）36,00033,47934,00020 19

Forecast →Kansai Airport – international flights

FY18 results +4.5%(Compared to Oct. 2018 revised forecast -2.2%)
1H results ＋ up 1.5％
2H results ＋ up 7.3％

20,000(＋7.1％ ）29,302

10,00030,000

1H results ＋ up 8.5％
2H results ＋ up 5.8％

28,0002014

2015

13,523

2016

2017

2018
← Results(＋9.5％ ）（＋4.5％ ）Chubu Centrair Airport– international flights

FY18 results +9.6%(Compared to Oct. 2018 revised forecast +3.3%)

4,503

4,900

5,234

5,564

5,000

6,099

FY

0

2019
Forecast →

18

2013

2014

2015

6,523

（＋9.6％ ） （＋6.9％ ）1H results ＋ up 7.6％
2H results ＋ up 11.7％

FY

26,00025,07722,891

17,27515,00031,055

21,905
19,151

32,41032,000

2013

20 15

(Thousand passengers)

Narita Airport – international flights

38,00020 14

Forecast →(Thousand passengers)

40,000

1H results ＋ up 7.4％
2H results ＋ up 4.9％

6, 00056,000FY18 results +6.1%(Compared to Oct. 2018
revised forecast －0.7%)

Mar. 2014
Increase in the number of landing slots(30,000/year)

8, 00060,00058,000(＋3.3％ ）(＋6.1％ ）15,642(＋2.5％ ）18,76018,164

Haneda Airport – international flights

69,264

2016

2017

2018

← Results

2019

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

1. Details of Consolidated Financial Results for FY18(2) Consolidated Financial Results for FY18
Consolidated financial results for the year (1H / 2H / full-year)
Items

1st Half
FY18

FY17

2nd Half
ChangeFY18

FY17

Full Year
Change

FY18

FY17

Ratio

ChangeRatio

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen％

Millions of yen％

Millions of yen

137,423

108,066

29,356

136,195

117,886

18,308273,618100.0

225,953

100.0

47,665

Facilities management

40,661

28,305

12,356

41,38930,138

11,251

82,05030.058,44325.9

23,607

Merchandise sales

86,56069,895

16,66584,912

77,892

7,020

171,472

62.7

147,787

65.4

23,685

Food and beverage

10,201

9,866

335

9,893

9,855

37

20,095

7.3

19,722

8.7

373

66,72958,047

8,681

65,40064,1791,220

132,12948.3

122,226

54.1

9,902

61,112

52,5738,539

60,08258,906

1,176

121,195

44.3

111,480

49.3

9,715

75.2％)(-4.6P)

75.6％)(-4.8P)

(

5,473

142

5,272

44

Operating revenues

Cost of sales
Cost of sales of merchandise(Ratio)((Ratio)Gross profit
Selling, general andadministrative expenses

Operating invome

70.6％)(

5,616

Cost of sales of food and beverage(

55.1％)((

70.8％)(

5,317

70.7％)

10,934(

75.4％)

4.0

10,746(-4.7P)

4.8

187

55.5％)(-0.4P)

53.5％)( 0.2P)

70,69450,01920,67570,79553,707

17,087

141,489

51.7

103,72645.9

37,762

57,732

43,27014,461

61,27547,026

14,248

119,00743.5

90,29640.0

28,71012,961

6,748

6,213

9,520

6,681

2,838

22,481

8.2

13,429

5.9

9,051

(

53.7％)((

54.4％)(

54.5％)(-0.1P)

Non-operating income/loss-1,2001,999-3,199

-902

1,266

-2,169-2,102

-0.8

3,266

1.5

-5,369Ordinary income

11,761

8,748

3,013

8,617

7,948

669

20,3797.4

16,696

7.4

3,682

Extraordinary income/loss

23,162-11

23,173

-513

-160

-352

22,648

8.3

-172

-0.1

22,821

28,202

6,193

22,008

4,801

5,582

-780

33,00412.1

11,776

5.2

21,227

Net income attributable toowners of parent* Ratio: Cost of sales of merchandise / Operating revenues of merchandise
Ratio: Cost of sales of food and beverage / Operating revenues of food and beverage

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

19

1. Details of Consolidated Financial Results for FY18
Consolidated financial results for the year (FY18 / FY17 for comparison / Revised forecast for comparison)
Items

FY18 (Results)

Amount affected due
to TIAT consolidation

FY17（Results）

Millions of yen

Millions of yen

273,618

31,902225,953

Facilities management

82,05020,877

Merchandise sales

171,472

Food and beverage

20,095

Operating revenues

Cost of sales
Cost of sales of merchandise(Ratio)Gross profit
Selling, general andadministrative expenses（※１）

Amount affected due toDifference

TIAT consolidation

21.1

277,100

31,300-3,48158,44323,60740.4

81,00020,4001,050

10,832

147,787

23,68516.0

176,200

10,700-4,727

191

19,722373

1.9

19,900200

195132,129

122,226

9,902

8.1

135,900-3,770121,195

111,480

9,715

8.7

125,000-3,804((

75.4％)(-4.7P)

10,746187

54.5％)(-0.1P)

141,489

103,726

37,762

119,007

90,296

10,934(

54.4％)

22,481Non-operating income/loss-2,102

Ordinary income

20,379Extraordinary income/loss

22,648owners of parent

Change47,665

Operating invome

Net income attributable to

Revised Forecast

Millions of yen

70.7％)

Millions of yen Millions of yen

Rate of％

Cost of sales of food and beverage(Ratio)Change33,004

(

9,388
4,300

21,342(Millions of yen Millions of yen

70.9％)(-0.2P)

10,90034

54.8％)(-0.4P)

36.4

141,200

289

28,71031.8

119,500-492

13,429

9,051

67.4

21,7003,266-5,369--2,30016,696

3,682

22.1

19,400-172

22,821-

22,90011,776

21,227180.3

32,400

1.7
(

8,800

781
197

3,700

979
-251

21,100604*1 Financial forecast announced in November 2018
* Ratio: Cost of sales of merchandise / Operating revenues of merchandise
Ratio: Cost of sales of food and beverage / Operating revenues of food and beverage
Note: Figures shown are rounded down to the nearest million yen.

20

1. Details of Consolidated Financial Results for FY18(3) Financial Results by Segment(i) Facilities management
FY18 (Results)
Items
Ratio

FY17 (Results)
ChangeAmount affected due

Ratio

to TIAT consolidation

Initial forecast (May 2018)

Rate of
ChangeRatio

Amount affected due

Difference

to TIAT consolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen

Millions of yen

Rent revenues

17,454

19.9

3,933

13,278

22.0

4,175

31.4

17,500

20.3

4,000

-45

Facility user charges revenues

43,50549.7

24,43018,75431.0

24,751132.0

43,70050.6

24,700-194

Other revenues

21,09024.1-7,485

26,41043.7-5,320-20.1

19,80023.0-8,3001,290

Subtotal

82,05093.7

20,87758,44396.7

23,60740.4

81,00093.9

20,400

1,050

5,533

6.3

3,742

2,007

3.3

3,525

175.6

5,300

6.1

3,600

233

87,584 100.0

24,62060,451

100.0

27,13244.9

86,300100.0

24,0001,284Operating expenses

73,245

83.6

16,06753,73688.9

19,50836.3

72,90084.5

16,200345

Operating income

14,339

16.4

8,552

6,714

11.1

7,624

113.5

13,400

15.5

7,800

939

-

( 0.9P)

Sales to external customers

Intersegment sales
Total(Ratio)(16.4％)

・Rent revenues:
・Facility user charges revenues:
・Other revenues:-(

11.1％)( 5.3P)(

15.5％)

International terminal rental income
Increase in space leased to airline companies, etc. in domestic terminal
Fees for use of passenger facilities for international flights, etc.
Increase in fees for use of passenger facilities for domestic flights
Revenues from parking fees, paid airport lounges, advertising fees, etc. for internationalterminal
Revenues from paid airport lounges, advertising fees, etc. for domestic terminal

Increase in subcontracted work revenues, security fees, etc.
Decrease in Haneda international terminal commissioned facility management revenues
from consolidation

21＋ 3.9 billion＋ 0.2 billion＋24.4 billion＋ 0.3 billion＋ 4.6 billion＋ 0.4 billion＋ 0.6 billion－10.9 billion

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

1. Details of Consolidated Financial Results for FY18(3) Financial Results by Segment(ii) Merchandise sales
FY18 (Results)
Items
Ratio

FY17 (Results)
ChangeAmount affected due

Ratio

to TIAT consolidation

Rate of

Initial forecast (May 2018)

ChangeRatio

Amount affected due

Difference

to TIAT consolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen

Millions of yen

Domestic terminal stores

36,212

20.9-

35,153

23.6

1,059

3.0

35,700

20.2

-

512

International terminal stores

98,51557.0

59,31635,49723.9

63,017

177.5

102,100

57.6

62,400-3,584

Other sales

36,745

21.2-48,484

77,13651.9-40,391-52.4

38,40021.7-51,700-1,654

171,472

99.1

10,832

147,787

99.4

23,68516.0

176,200

99.5

10,700-4,727

1,523

0.9

607

860

0.6

662

77.0

900

0.5

-

623

172,996

100.0

11,440148,647

100.0

24,34816.4

177,100

100.0

10,700-4,103Operating expenses

157,235

90.9

8,377

137,324

92.4

19,911

14.5

161,100

91.0

7,400

-3,864

Operating income

15,7609.1

3,062

11,322

7.6

4,437

39.2

16,000

9.0

3,300

-239

-

( 7.6％)-( 0.1P)

Sales to external customers

SubtotalIntersegment sales
Total(Ratio)(9.1％)

・Domestic terminal stores:
・International terminal stores:

・Other sales:( 1.5P)( 9.0％)

Increase in sales of directly managed stores, etc. at Haneda domestic terminal
Sales of directly managed stores, etc. at Haneda international terminal
Increase in sales of directly managed stores at Narita Airport
Decrease in sales of directly managed stores at Kansai Airport
Increase in sales of directly managed stores at Chubu Centrair Airport
Increase in sales of urban duty-free stores
Decrease in Haneda international terminal duty-free store wholesale sales from subsidiaryconsolidation
Decrease in wholesale sales to Narita Airport
Increase in wholesale sales to Chubu Centrair Airport and other regional airports

22＋ 1.0 billion＋59.7 billion＋ 1.4 billion－ 0.5 billion＋ 1.0 billion＋ 1.2 billion－43.0 billion－ 0.9 billion＋ 3.5 billion

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

1. Details of Consolidated Financial Results for FY18(3) Financial Results by Segment(iii) Food and beverage
FY18 (Results)
Items
Ratio

FY17 (Results)
ChangeAmount affected due

Ratio

to TIAT consolidation

Rate of

Initial forecast (May 2018)

ChangeRatio

Amount affected due

Difference

to TIAT consolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen

Millions of yen

Sales from restaurants

12,514

55.4

2,977

9,846

44.2

2,668

27.1

12,400

54.9

3,000

114

Sales from in-flight meals

6,764

29.9

-

6,588

29.6

175

2.7

6,700

29.7

-

64

816

3.6

-2,786

3,286

14.7

-2,470

-75.2

800

3.5

-2,80016

20,09588.9

191

19,722

88.5

373

1.9

19,900

88.1

200

195

2,518

11.1

0

2,563

11.5

-45

-1.8

2,700

11.9

0

-181

22,613 100.0

192

22,285

100.0

327

1.5

22,600

100.0

200

13

21,73396.1

224

21,389

96.0

344

1.6

21,800

96.5

200

-66

880

3.9

-32

896

4.0

-16

-1.8

800

3.5

-

80

-

( 4.0％)

Sales to external customers

Other sales
SubtotalIntersegment sales
Total
Operating expenses
Operating income(Ratio)(3.9％)

・Sales from restaurants:
・Sales from in-flight meals:
・Other sales:(-0.1P)( 3.5％)

Revenues from international terminals restaurants
Decrease from closure of some domestic terminal restaurants
Increase in sales from increased passenger volume of client
airline, etc.
Decrease in commissioned facility management revenues
for international terminal stores23-( 0.4P)＋ 2.9 billion－ 0.3 billion＋ 0.1 billion－ 2.5 billion

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

1. Details of Consolidated Financial Results for FY18
(4) Breakdown of Selling, General and Administrative Expenses
Items

FY18

FY17

(Results)(Results)
Ratio

Rate of

ChangechangeRatio

Millions of yen％

Millions of yen％

Millions of yen％

Operating revenues

273,618100.0

225,953

100.0

47,665

21.1

Selling, general and administrative

119,00743.5

90,29640.0

28,71031.8

12,072

4.4

10,651

4.7

1,420

13.3

Provision for employees' bonuses

1,620

0.6

1,572

0.7

48

3.1

Provision for directors' bonuses

269

0.1

250

0.1

19

7.7

Expenses for retirement benefits

955

0.4

997

0.4

-41

-4.2

Rent expenses

16,974

6.2

12,734

5.7

4,239

33.3

Business consignment expenses

30,333

11.1

27,502

12.2

2,830

10.3

Depreciation expenses

24,6349.0

10,806

4.8

13,828128.0

Other costs and expenses

32,147

11.7

25,782

11.4

6,365

24.7

expenses

Salaries and wages

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

24

1. Details of Consolidated Financial Results for FY18(5) Changes in Non-Operating Income/Expenses and Extraordinary Income/Loss
Items

FY18

FY17

(Results)(Results)
Ratio

ChangeRatio

Rate ofchangeMillions of yen％

Millions of yen％

Millions of yen％

Operating revenues

273,618100.0

225,953

100.0

47,665

21.1

Operating income

22,481

8.2

13,429

5.9

9,051

67.4

1,775

0.6

4,050

1.8

-2,275

-56.2

357

0.1

952

0.4

-594

-62.4

297

0.1

2,335

1.0

-2,037

-87.3

1,119

0.4

763

0.4

356

46.7

Non-operationg expenses

3,877

1.4

783

0.3

3,093

394.6

Interest expenses

3,102

1.1

331

0.1

2,771

835.3

774

0.3

452

0.2

322

71.3

Ordinary income/loss

20,3797.4

16,696

7.4

3,682

22.1

Extraordinary income

25,960

9.5

1

0.0

25,959-Extraordinary loss

3,311

1.2

173

0.1

3,138

-

Income taxes

7,360

2.7

4,569

2.0

2,791

61.1

33,00412.1

11,776

5.2

21,227180.3

Non-operationg income
Interest income anddividend
Return on investment by
the equity method

OthersMiscellaneous expenses

Net income attributable toowner's of parent

25

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

1. Details of Consolidated Financial Results for FY18(6) Consolidated Balance Sheets(Millions of yen)
Short-term borrowings
Current portion of bonds
with stock acquision rithts
Income taxes payable
OthersTotal assets increased due toconsolidation of TIAT

Cash and deposit ＋44.9 billion
Account receivable － 1.6 billion
Merchandise＋ 4.4 billion
Others
＋ 4.0 billion＋ 4.9 billion＋ 15.0 billion＋ 1.2 billion＋ 8.9 billion

67,894
123,817
Tangible fixed assets (depreciable assets)
Buildings, etc.
＋178.3 billion
Accumulated depreciation － 81.5 billion
Construction in progress＋ 37.4 billion
Others＋ 40.0 billion
Intangible fixed assets

Current
assets+51,832

Current
liabilities+30,208＋ 37.7 billion

215,370

Investments and other assets
Investment securities－ 15.1 billion
Long-term loans receivable － 6.6 billion
Others
＋ 3.0 billion

360,837

Bonds payable＋ 11.1 billion
Bonds with stock acquisition rights－ 15.0 billion
Long-term loans payable＋133.1 billion
Others＋ 20.5 billion

Fixedassets+193,432

37,68571,985Fixedliabilities+149,823

65,547Retained earnings＋ 29.1 billion
Deferred gains or losses on hedges＋ 1.4 billion
Non-controlling interest＋ 35.1 billion

Equity ratio
201,390

FY201833.7％

FY201755.7％

167,404

136,156

Total assets 484,654
FY18

Net
assets+65,233

Total assets 239,389
FY17

FY17

26

（ － 22.0Ｐ）

FY18
Note: Figures shown are rounded down to the nearest million yen.

1. Details of Consolidated Financial Results for FY18(7) Consolidated Statements of Cash Flows
Items

FY18

FY17

(Results)(Results)

ChangeMillions of yen

Millions of yen

Millions of yen

34,28822,257

12,031

Income before income taxes and minority interests

43,027

16,52326,503

Depreciation and amortization

24,737

10,913

13,824Gain on negative goodwill-20,126--20,126-5,626--5,626

Cash flows from operating activites

Offsetting gains of assets and liabilities
Loss on step acquisitions

2,725

-

2,725

Other current assets-2,378-836-1,542Other current liabilities

2,681

1,410

1,270

-56

-152

95

Others-2,038-1,939-98

Income and other taxes paid

-8,657-3,662-4,994

Cash flows from investing activites-8,489-28,474

19,985-53,459-27,410-26,048

-565

-691

126

46,211-

46,211

-675

-371

-303

19,152

9,438

9,714

300

200

100

Long-term loans payable

22,885

12,638

10,247

Dividends payment-3,817-3,005-812

Other fixed liabilities

Purchase of tangible fixed assets
Purchase of intangible fixed assets
Proceeds from purchase of investments in
subsidiaries resulting in change in scope of
consolidation

OthersCash flows from financing activites
Short-term borrowings

-214

-394

179

Effect of exchange rate change on cash and cash equivalents

-8

0

-8

Increase (decrease) in cash and cash equivalents

44,943

3,221

41,722

Cash and cash equivalents at beginning of period

42,32939,1083,221

Cash and cash equivalents at end of period

87,27342,32944,943

Others27

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

1. Details of Consolidated Financial Results for FY18
[Reference] Purchasing Trends of Non-Japanese Passengers by Nationality (1)(1) The number of departing non-Japanese visitors by airport (monthly average)Japan

HanedaNaritaKansaiOther

No. of passenger

Composition

No. of passenger

Composition

No. of passenger

Composition

No. of passenger

Composition

No. of passenger

Composition

volume (person)

ratio (％)

volume (person)

ratio (％)

volume (person)

ratio (％)

volume (person)

ratio (％)

volume (person)

ratio (％)

FY17

2,348,539

100.0

319,01313.6

652,08827.8

622,81126.5

754,627

32.1

FY18

2,532,297

100.0

340,834

13.5

727,724

28.7

639,77725.3

823,96232.5

Notes: Passenger data has been aggregated by the company using immigration statistics from the Ministry of Justice.
FY17: Average for April 2017 to March 2018, FY18: Average for April 2018 to February 2019(2) The number of departing non-Japanese visitors by airport and nationality (monthly average)○ Volume ranking and change in departing passengers by nationality for FY18
≪ Haneda Airport ≫≪ Narita Airport ≫No. of passenger

Composition

volume (person)

ratio (％)

Change (%)

109,654

32.2%

17.0%

South Korea

43,41912.7%- 7.5% Taiwan

U.S.A.

33,141

9.7%

Taiwan26,444

7.8%

No. of passenger

Composition

volume (person)

ratio (％)

China (incl. Hong Kong)

340,834

Non-JapaneseJapanese
Total

100
80

volume (person)

ratio (％)

6.8% Non-Japanese

400,69754.0%

4.0% Japanese

741,531100.0%

5.3% Total（＋17.0%)(＋7.7％)

Change (%)

60（－7.5%)

40（－2.2%)

15.3%

254,110

39.7%

16.0%

7.9% South Korea

173,269

27.1%- 9.3%

91,14812.5%

3.0% Taiwan

86,35713.5%- 9.9%

68,8199.5%

10.0% Thailand

21,1803.3%- 3.6%

No. of passenger

Composition

No. of passenger

Composition

volume (person)

ratio (％)

volume (person)

ratio (％)

727,724

55.3%

11.6% Non-Japanese639,777

587,84544.7%

3.5% Japanese

1,315,569

100.0%

7.8% Total(No. of travelers: thousands)

2H
FY16

1H

2H
FY17

1H

2H
FY18

Change (%)

68.8%

2.7%

290,171

31.2%

4.1%

929,948100.0%

3.2%

Figures in ( ) denote percent change * YoY comparison

300

240

（＋15.3%)200

250（＋16.0%)(＋11.1%) 200(＋15.7%)120（＋7.9%)（－9.3%)

150（－9.9％)（＋3.0%) 100

80（＋12.7%)(＋7.1%)

50(＋9.3%)（＋13.2%)00
1HChina (incl. Hong Kong)

Change (%)（＋9.4%)

0Change (%)

13.9%

40

20

ratio (％)

28.2%

160

(＋4.0%)

Composition

volume (person)

100,960

8.2% South Korea

Change (%)≪ Kansai Airport ≫No. of passenger

205,400- 2.2% U.S.A.

46.0%

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

China (incl. Hong Kong)○ Number of departing non-Japanese passengers
120

No. of passenger

1H

2H

1H

FY16

2H
FY17

1H

2H
FY18

1H

2H
FY16

Notes: Passenger data has been aggregated by the company using immigration statistics from the Ministry of Justice. Transit passengers are not included in passenger number.
Passenger numbers utilize October to February data from the second half of FY18.

28

1H

2H
FY17

1H

2H

FY18

1. Details of Consolidated Financial Results for FY18
[Reference] Purchasing Trends of Non-Japanese Passengers by Nationality (2)(3) Company duty-free store sales and number of departing passengers by airport and nationality (monthly average)

Haneda (Net sales: millions of yen)
Others 5,500
Taiwan

450

China

1,500

5,000

S. KoreaJapanNarita(No. of travelers: thousands)
Figures in ( ) are percent change

741

4,500
4,000

685

385

188

343

3,500

319

1,450

2,000

400

1,200

Japanesetravelers(Change)

287
1,518

350

340（＋6.8%）（＋4.7%）

Foreigntravelers(Change)

652

900

567

244

750

500

300

250

（＋21.1%）-

Japanesetravelers(Change)（－7.6%） 587（＋3.5%）
500

400

863

732

（＋18.0%）

300

150
-

200

FY17

600

225

450

1,851

700

41
46

600

300

2,242

727（＋11.6%）

179

159
42
55

1,050

1,500
1,000

1,350

161

3,000
2,500

400（＋4.0%）800Foreigntravelers(Change)

200

FY17

FY18

FY18

Notes: “Net sales” denote all store sales (excluding taxable stores). Haneda: all duty-free stores; Narita: directly managed stores and boutiques. Sales by nationality include estimates.

(4) Main factors in the fluctuation of sales of duty free shops and purchasing trends«Both Haneda and Narita» Gradual slowdown in the Chinese economy since January this year and changes in the environment such as legislation, as well as
strengthened regulations on duty-free goods brought into China and fluctuations in exchanges rates such as yuan depreciation
since the second half of the year have affected consumer sentiment, and thus changed the consumption trend among Chinese
passengers.
«Haneda» Operating revenues continued to grow, although its rate of growth slowed down from the second half of the year onwards.
 Partly as a consequence of distributed store space due to renovation of a comprehensive duty-free store after July last year, perunit purchases grew only slightly increased due to the change in consumption trend among Chinese passengers from the second
half of the year onwards.
 Sales of the comprehensive duty-free store, which had been under renovation, remained brisk after its opening at the end of
March this year.
«Narita» Although merchandise sales maintained a year-on-year increase for the year, a decrease in the purchasing passenger volume hada large impact in the second half of the year especially after February, causing sales to fall below the previous year’s figure.

29<Duty-free Store Per-unit Purchasing>(Rounded down to the nearest hundred yen)

FY18
Amountpercustomer

Y on Y comparison
ChangeRate ofchangeHaneda

8,900

86

1.0%

Narita12,900

1,165

9.9%

1. Details of Consolidated Financial Results for FY18
[Reference] Purchasing Trends of Non-Japanese Passengers by Nationality (3)(5) Changes in per-unit purchases and operating revenues from merchandise sales to Chinese pasengers by airport（per-unit：yen）（sales：millions of yen）

Haneda25,0008,000（per-unit：yen）

25,0003,000（△7.6%）

7,000

20,00020,000（sales：millions of yen）

Narita

2,500

6,000

2,000
5,000

15,00015,000
1,500

4,000

10,0003,000

10,000
1,000

2,000

5,000

5,000

500

1,000
0

0

0
1Q

2Q

3Q

FY15

4Q

1Q

2Q

3Q

FY16

4Q

1Q

2Q

3Q

FY17

merchandise sales

4Q

1Q

2Q

3Q

0
1Q

4Q

2Q

3Q

FY15

FY18

4Q

1Q

2Q

3Q

4Q

1Q

2Q

FY16

FY17

merchandise sales

per-unit purchases

Notes: “merchandise sales” denote all store sales (excluding taxable stores). Haneda: all duty-free stores; Narita: directly managed stores and boutiques.

30

3Q

4Q

1Q

2Q

3Q

FY18
per-unit purchases

4Q2. Details of Consolidated Financial Forecast for FY19(1) Consolidated Financial Forecast for FY19
FY19 (Forecast)
Items

FY18 (Results)

Amount affected due

Ratio

Amount affected

Ratio

to TIAT consolidation

ChangeRate of
Changedue to TIAT

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen

Millions of yen％

277,500

100.0

30,700273,618100.0

31,9023,881

1.4

Facilities management

84,10030.3

20,00082,05030.0

20,8772,049

2.5

Merchandise sales

173,200

62.4

10,500171,472

62.7

10,832

1,727

1.0

Food and beverage

20,2007.3

200

20,095

7.3

191

104

0.5

132,800

47.9

132,129

48.3

670

0.5

121,700

43.9

121,195

44.3

504

0.4

Operating revenues

Cost of sales
Cost of sales of merchandise(Ratio)(11,100

Cost of sales of food and beverage(Ratio)Gross profit

70.3％)((

70.7％)

10,9344.0

55.0％)((-0.4P)165

4.0

54.4％)

(

1.5

0.6P)

144,700

52.1

141,489

51.7

3,210

2.3

128,700

46.3

119,007

43.5

9,692

8.1

Operating invome

16,0005.8

22,481

8.2-6,481-28.8

Non-operating income/loss-1,800-0.7-2,102

-0.8

302

-14.4

Ordinary income

14,2005.1

20,3797.4-6,179

-30.3

-100

0.0

22,648

8.3-22,748

0.0

8,000

2.9

33,00412.1-25,004-75.8

Selling, general andadministrative expenses

Extraordinary income/loss
Net income attributable toowners of parent* Preconditions: Forecast of number of passengers
Haneda domestic (full-year)+ 2.5% YoY

Haneda international (full-year)+ 3.3% YoY

Narita international (full-year)+ 5.5% YoY

Kansai international (full-year)+ 9.5% YoY

Central Japan international (full-year)+ 6.9% YoY

6,800
4,400

1,600

9,388
4,300

21,342* Ratio: Cost of sales of merchandise / Operating revenues of merchandise
Ratio: Cost of sales of food and beverage / Operating revenues of food and beverage

31

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

2. Details of Consolidated Financial Forecast for FY19(2) Financial Forecast by Segment(i) Facilities management
FY19 (Forecast)
Items
Ratio

FY18 (Results)

Amount affected due

Ratio

to TIAT consolidation

Amount affected due

Rate of

ChangeChangeto TIAT consolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen

Millions of yen％

Rent revenues

18,100

20.1

4,000

17,454

19.9

3,933

645

3.7

Facility user charges revenues

44,80049.7

25,20043,50549.7

24,4301,294

3.0

Other revenues

21,20023.5-9,20021,09024.1-7,485109

0.5

Subtotal

84,10093.3

20,00082,05093.7

20,877

2,049

2.5

6,000

6.7

4,200

5,533

6.3

3,742

466

8.4

90,100100.0

24,20087,584100.0

24,6202,515

2.9Operating expenses

81,80090.8

18,00073,245

83.6

16,067

8,554

11.7

Operating income

8,300

9.2

6,200

14,339

16.4

8,552

-6,039-42.1-(-7.2P)

Sales to external customers

Intersegment sales
Total(Ratio)( 9.2％)-(

16.4％)

・Rent revenues:
Increase in space leased to airline companies, etc. in domestic terminal
・Facility user charges revenues: Increase in fees for use of passenger facilities for international flights
Increase in fees for use of passenger facilities for domestic flights
・Other revenues:
Increase in revenues from paid airport lounges, etc. for international terminal
Increase in revenues from parking fees, paid airport lounges, advertising fees, etc.
for domestic terminal
Decrease in subcontracted work revenues, etc.

32

＋ 0.5 billion＋ 0.7 billion＋ 0.5 billion＋ 0.1 billion＋ 0.6 billion－ 0.6 billion

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

2. Details of Consolidated Financial Forecast for FY19(2) Financial Forecast by Segment(ii) Merchandise sales
FY19 (Forecast)
Items
Ratio

FY18 (Results)

Amount affected due

Ratio

to TIAT consolidation

Amount affected due

Rate of

ChangeChangeto TIAT consolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen

Millions of yen％

Domestic terminal stores

35,70020.4-

36,212

20.9

-

-512

-1.4

International terminal stores

101,300

58.0

63,20098,51557.0

59,3162,784

2.8

36,20020.7-52,700

36,745

21.2-48,484

-545

-1.5

173,200

99.1

10,500171,472

99.1

10,832

1,727

1.0

1,500

0.9

600

1,523

0.9

607

-23

-1.5

174,700

100.0

11,100172,996

100.0

11,4401,703

1.0Operating expenses

158,700

90.8

8,200

157,235

90.9

8,377

1,464

0.9

Operating income

16,0009.2

2,900

15,760

9.1

3,062

239

1.5

-

( 0.1P)

Sales to external customers

Other sales
SubtotalIntersegment sales
Total(Ratio)・Domestic terminal stores:
・International terminal stores:

・Other sales:

(

9.2％)

-

(

9.1％)

Decrease in sales due to reduced stores areas as a result of progress in T2
internationalization construction
Increase in sales of directly managed stores at Haneda international terminal
including the effect of their renovation
Decrease in sales of directly managed stores at Narita Airport
Decrease in sales of directly managed stores at Kansai Airport
Decrease in wholesale sales to Narita Airport
Increase in wholesale sales, etc. to Chubu Centrair Airport and other regional airports

33－ 0.5 billion＋ 3.4 billion－ 0.2 billion－ 0.3 billion－ 2.5 billion＋ 1.9 billion

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

2. Details of Consolidated Financial Forecast for FY19(2) Financial Forecast by Segment(iii) Food and beverage

FY19 (Forecast)
Items
Ratio

FY18 (Results)

Amount affected due

Ratio

to TIAT consolidation

Amount affected due

Rate of

ChangeChangeto TIAT consolidation

Millions of yen％

Millions of yen

Millions of yen％

Millions of yen

Millions of yen％

Sales from restaurants

12,500

54.8

3,000

12,514

55.4

2,977

-14

-0.1

Sales from in-flight meals

6,900

30.3

-

6,764

29.9

-

135

2.0

800

3.5

-2,800816

3.6-2,786-16-2.0

20,20088.6

200

20,095

88.9

191

104

0.5

2,600

11.4

0

2,518

11.1

0

81

3.3

22,800100.0

200

22,613

100.0

192

186

0.8

22,00096.5

300

21,733

96.1

224

266

1.2

800

3.5

-100

880

3.9

-32

-80

-9.1

-

(-0.4P)

Sales to external customers

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

3.5％)

-

(

3.9％)

Increase in sales from increased passenger volume of client airline, etc.

34

＋ 0.1 billion

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

3. Other Information(1) Capital Expenditure and Depreciation Expenses
FY14

FY15

FY16

FY17

FY18

FY19

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

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Capital expenditure

4,830

8,379

6,853

27,88557,55977,000Depreciation expenses

11,872

11,232

11,60910,806

24,63426,700Items

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

• Breakdown of Major Capital Expenditures
FY18 (Results)
Building 2 internationalization construction

FY19 (Forecast)
Building 2 internationalization construction¥27.8 billion

Building 1 renovation¥3.3 billion

PBB upgrade and bridge repair¥2.5 billion

Building 2 PBB upgrade¥31.0 billion¥3.0 billion

Repair and upgrade of various equipment and facilities¥3.0 billion

Repair and upgrade of various equipment and facilities¥2.4 billion

Purchase of lots for construction of dormitory for single
employees¥2.0 billion

Upgrade of crime prevention/disaster-readiness equipment

Upgrade of crime prevention/disaster-readiness equipment¥2.2 billion¥2.0 billion

Parking Lot 4 expansion¥2.0 billion(TIAT investment plan

¥13.2 billion)

Building 1 renovation¥2.0 billion(TIAT investment plan

¥30.0 billion)

・Breakdown of main depreciation expenses
FY14(Results)

FY15(Results)

FY16(Results)

FY17(Results)

FY18(Results)

FY19(Forecast)Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Terminal 1

3,900

4,000

4,400

4,300

4,100

4,300

Terminal 2

5,000

4,400

4,100

3,800

3,800

4,100

P4 Parking

400

400

300

300

300

500

（Reference）

T

I

A

T

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

FY14
(Results)

FY15(Results)

FY16(Results)

FY17(Results)

Millions of yen

Millions of yen

Millions of yen

Millions of yen

10,060

10,202

9,748

9,492

35

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

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

1,600

Increase in U.S. flights (Haneda)

Increase in China flights (Haneda)

Great East Japan Earthquake

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

450
400
350
325

300
313
250

Haneda Airport Terminal 2
started operation (Dec. 2004)

Haneda Airport Terminal 1
started operation (Sep. 1993)

Billionsof yenSubsidiary consolidationof TIAT (Apr. 2018)

H1N1 influenza outbreakY2K task

2,000

Hikes in the price of
crude oilFinancial crisis being
triggered by the US

2,400

Chubu International
Airport opened

2,800

Iraq war(right) Ordinary income (forecast)

SARS outbreak(right) Ordinary income (results)
9-11 Terrorist Attack in the US(right) Cash flows (forecast)Financial realignment(right) Cash flows (results)

Voluntary closure of
Yamaichi Securities(left) Operating revenues (forecast)

Narita Airport Terminal 2
started operation

3,200(left) Operating revenues (results)

Kansai International
Airport opened

Billionsof yen196
200

181 157
1,200

171
151

800

139

133

146
118

107
49

400

36

31

150

166 203142

136 128

100
50

57

1

0
90

91

92

93

94

95

96

97

98

99

00

01

02

03

04

36

05

06

07

08

09

10

11

12

13

14

15

16

17

←

→

18

19

0

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

April 1, 2018 to March 31, 2019 (FY18)

Reference Material
1. Outline of Japan Airport Terminal Group
2. Summary of Tokyo International Airport (Haneda)* This document has been translated from the Japanese original, for reference purposes only.
If there is any discrepancy between this translated document and the Japanese original, the original
shall prevail.

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

1. Outline of Japan Airport Terminal Group(1) Business Details
A company responsible for construction, maintenance and operation of Haneda Airport passenger terminals
Terminal 2■ Terminal 1■ Terminal 2International
Passenger
Terminal

Terminal 1・ Construction, management, and operation ofterminal buildings
・ Real estate leasing (offices, stores and otherspaces for airline companies and airport-based
businesses)
・ Merchandise sales (direct management)
・ Food and beverage services (direct
management)
・ Passenger services
・ Preparation/sales of in-flight meals
・ Management of parking lots

■ International Passenger
Terminal
Built and managed by Tokyo International Air
Terminal Corporation (TIAT), establishedthrough investment with airline companies
and other entities and centered on Japan
Airport Terminal Co., Ltd.
・ International passenger terminal building
management and operation
・ Real estate leasing (office space, stores,
etc. for airline companies and airport-based
businesses)
・ Operation of duty-free stores, others
・ Food and beverage services
・ Passenger services
・ Management of parking lots

Offering high-quality services at domestic airports Narita, Kansai and Chubu, and at airports outside of Japan, leveraging
expertise honed at Haneda Airport.
Narita International
Airport• Merchandise sales (duty-free stores, etc.)• Wholesale, commissioned management of
duty-free stores• Food and beverage service• Travel accident insurance agency business• Preparation/sales of in-flight meals

Kansai and Chubu Centrair
International Airport

Domestic Airports
throughout Japan• Merchandise sales (duty-free stores)• Wholesale• Commissioned management of
duty-free stores (Kansai)• Merchandise sales (Naha)• Wholesale• Operation of Kumamoto Airport

38

At overseas Airport• Merchandise sales at Chengdu Shuangliu
International Airport• Operation of Palau International Airport

1. Outline of Japan Airport Terminal Group(2) Basic Philosophy and Management Policy
Basic philosophy“Balancing Public Good and Business Success”
Passenger terminal buildings serve as public infrastructure of enormous importance.
Utilizing private-sector business approaches to properly achieve this highly public mission is
our basic management philosophy.

Management policy● Establish absolute safety in passenger terminals● Operate passenger terminals for the benefit of customers(convenience, comfort and functionality)● Operate passenger terminals stably and efficiently● Reinforce corporate structure and improve the combined competence of the Group companies
Our Business Model Since Establishment
・Since its establishment, Japan Airport Terminal has optimally leveraged private-sector knowledge and financing to build, manageand operate passenger terminal buildings, which have enormously important public value, as a purely private enterprise spanningnearly 60 years.
・Based on the Japanese government’s policies governing airports and airlines, Japan Airport Terminal is engaged in facilities
installation, including expansion, the provision of appropriate services, and measures to insure the safety and stability of passenger
terminal buildings.
・Japan Airline Terminal contributes to the development of the airline industry, guided by a consistent dedication to sharedprosperity with airline companies.

39

1. Outline of Japan Airport Terminal Group(3) Company History
Haneda Airport was re-launched as Japanese air gateway after being returned by the U.S. in 1952. However, on account of a lack of financial resources after the war,
only the costs for paving the taxiway and apron were included in the national budget. Therefore, it was decided to build the terminal with private funds (cabinet
approved), and in 1953 the Company was founded with the cooperation of major institutions (with capital 150 million yen), and the terminal was opened in May 1955.
1953(July)

Established with private sector capital of 150 million yen.

1955

(May)

The terminal building opened and launched operation.

1964(April)Separate domestic arrival terminal building completed in time with the Tokyo Olympic Games.

(October)Duty-free sales operations commenced.
Commenced merchandise sales including duty-free articles, hotel reservation services and other

1978

(May)

1990

(February)

Listed on second section of the Tokyo Stock Exchange.

1991(September)

Listed on first section of the Tokyo Stock Exchange.

1993(September)

Haneda Airport Terminal 1 (Big Bird) started operation.

1994(September)

1998(March)The temporary international terminal at Haneda Airport started operation.

2001(February)

International charter flights commenced at Haneda Airport.

2002(April)2003(November)International charter flights between Haneda and Seoul (Gimpo) commenced.

2004(December)

Terminal 2 at Haneda Airport started operation.

2005(February)

Wholesale of duty-free goods commenced with the opening of Central Japan International Airport.

2006(April)operations with the opening of Narita International Airport.

Launched commissioned operation of duty-free stores and wholesale of duty-free goods
accompanying opening of the Kansai Airport.

Terminated periodic international flights from Haneda Airport (transfer of China Airlines and theHaneda Airport Terminal when opened

EVA Airways to Narita).

Participated in the project of the maintenance and operation of terminal at international flightarea of the Tokyo International Airport.

(June)

Invested in the special purpose company (SPC) “Tokyo International Air Terminal Corporation.”(February)South Pier in Terminal 2 at Haneda Airport started operation.

(September)International charter flights between Haneda and Shanghai (Hongqiao Airport) commenced.

2008(April)International charter flights between Haneda and Hong Kong commenced (during specific hours).

2009(April)Designated as an Airport Facilities Operator under the revised Airport Act.

(October)International charter flights between Haneda and Beijing commenced.

(August)P4 multi-story parking main building started operation (full-scale operation in October).

2007

2010

(October)
2011

Haneda Airport Terminal 1

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

(January)

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

(November)

Renewal of Terminal 1 building, Haneda Airport completed.

2013(April)The extended part of South Pier in Terminal 2 at Haneda Airport started operation.

2014(March)Start of usage of international passenger terminal building expansion.

2018(April)Subsidiary consolidation of Tokyo International Air Terminal Corporation.

40

Haneda Airport Terminal 2

1. Outline of Japan Airport Terminal Group
Facilities management operations(4) Group Companies

 Tokyo International Air Terminal Co., Ltd.
Management and operation of international passenger
terminal building.
 BIG WING Co., Ltd.
Advertising agency business, event planning andmanagement
 Japan Airport Techno Co., Ltd.
Installation, upkeep and management of passenger terminal
facilities and environmental and sanitation management offacilities
 Haneda Airport Security Co., Ltd.
Security services and parking lot service management
 Haneda Passenger Service Co., Ltd.
Passenger services operations
 Japan Airport Ground Handling Co., Ltd.
Passenger handling services
 Haneda Future Research Institute Inc.
Further improvement of value in existing airport operation,
development of new business model, etc.
 Sakura Shokai Co., Ltd.
Airport cleaning center management and waste treatment

Facilities
management
operations

Food andbeverage
operations

Merchandise
sales
Total:
operations
20 companies

Food and beverage operations

8 companies

5 companies

Merchandise sales operations

 Tokyo Airport Restaurant Co., Ltd.
Restaurant business, light meal production and sales,
paid waiting room management
 Cosmo Enterprise Co., Ltd.
Preparation and loading of in-flight meals, production
and sale of frozen food
 CTT Co., Ltd.
Cleaning of in-flight goods and eating utensils
 LANI KE AKUA PACIFIC, INC.
Restaurant business KAIKAN KAIHATSU Co., Ltd.
Restaurant business, management and operation of
lodging, halls and meeting rooms

41

7 companies

 Japan Duty Free Fa-So-La Isetan Mitsukoshi Co., Ltd.
Development of airport duty-free stores (bonded stores) inurban areas
 International Trade Inc.
Wholesale business and merchandise sales to Japanese airport
retail stores and other clients Japan Airport Logitem Co., Ltd.
Merchandise transport, delivery and inspection
 Air BIC INC. Retail sales of home appliances Haneda Airport Enterprise Co., Ltd.
Store operation business Japan Airport Terminal Trading (Chengdu) Co., Ltd.
Merchandise sales and wholesale business at Chengdu
Shuangliu International Airport
 Hamashin Co., Ltd.
Wholesale and retail sales of marine products

1. Outline of Japan Airport Terminal Group(5) Revenue Composition/Details by Segment, Composition of Sales
Category

Revenue details
Office lease (fixed rent); store lease

Rent revenue (fixed rent + percentage commission) at
Haneda domestic and international terminals
Facility user

Fees for use of passenger facilities (Haneda

Facilities

chargesdomestic and international flights: PSFC),

management

revenueinternational terminal PBB user charges, others

operations

Expenses details
Depreciation; water, heating, energy
expenses; repairs expenses; lease fee(such as national property usage fee);taxes and public charges; cleaning
expenses; outsourcing fees

Parking fee revenue, advertising revenue andOtherssales from paid airport lounge at Haneda

Lease fee (such as national property

domestic and international terminals, Hotelusage fee); taxes and public charges

business income, Revenue from subcontracted(fixed asset tax); outsourcing fees

work
Stores atdomestic
terminal

Merchandise sales for stores at Haneda domestic
terminal stores

Cost of sales; supply expenses

Merchandise sales for stores at Haneda
Stores at
Merchandiseinternationalsales

terminal

operations

international terminal stores; Merchandise sales
from airport duty-free stores, etc. at Narita
International Airport, Kansai International
Airport and Chubu Centrair International Airport,

Cost of sales; supply expenses;
percentage of business; agent service
fee

urban duty-free store sales
Wholesale sales to Narita International Airport,
Kansai International Airport, and Chubu Centrair
OthersInternational Airport; Commissioned

Cost of sales; agent service fee

management revenues at Narita International
Airport and Kansai International Airport.
Restaurants
Food andbeverage

Restraurant sales at Haneda Airport domestic

Food expenses (cost of sales for foodand international terminal and Narita

and beverage); percentage ofInternational Airport

business; outsourcing costs

In-flight meals Production and sales of in-flight meals

operations
OthersFood expenses (cost of sales for foodand beverage)

Income from catering airline lounges, Wholesale Food expenses (cost of sales for foodof products such as frozen foods, box meals, etc. and beverage); outsourcing costs42

1. Outline of Japan Airport Terminal Group(6) Changes in Capital Investment
Fisical Year

Details

Investment (at timeof construction)

1955

Construction of former terminal building\1.0 billion

1963

Major expansion and renovation (Measures for jet aircraft and the Olympics)\3.5 billion

1970

Construction for accommodating jumbo jets (domestic and international terminal buildings)\3.2 billion

1977

Construction for disaster safety measures\8.0 billion

1978～1981

Construction to repurpose domestic terminal accompanying shift to international flights at Narita
Airport\11.5 billion

1984

Construction for domestic terminal redeployment\15.0 billion

Construction to build Terminal 1 building\130.0 billion

1993

Construction to remove old terminal building\6.0 billion

Expansion construction to build South/North Bus Lounge in Terminal 1 building\1.0 billion

New construction of boarding station\1.0 billion

1998

Construction to build international terminal building\1.5 billion

1999～2002

Renovation of Terminal 1 building (barrier-free measures)\3.4 billion

2002

Expansion and renovation of international terminal building\1.0 billion

2004

Construction to build Terminal 2 building\67.0 billion

Renovation of Terminal 1 building (including marketplace revitalization)\15.0 billion

1997

2004～2005

International terminal building expansion and renovation\0.6 billion

2006

Construction for expansion of Terminal 2 building (Second Stage of the Plan)\11.5 billion

2007

International terminal building expansion and renovation\2.1 billion

2007

Construction to build P4 simplified parking structure\2.0 billion

2008

International terminal building expansion and renovation\1.5 billion

Terminal 2 building expansion (Third Stage of the Plan)\19.0 billion

Construction to convert P4 parking lot to multi-story parking lot\6.0 billion

2011

Terminal 1 building renovation (departure lobby, departure lounge, observation deck, etc.)\7.0 billion

2013

Terminal 2 building expansion (Fourth Stage of the Plan) Expansion in 3 spots\7.6 billion

2017～2020

Construction of international flight facility for Terminal 2 building (expansion, renovation of existingbuilding)\78.0 billion

2008～2010

Total \403.4 billion

43

1. Outline of Japan Airport Terminal Group(7) Summary of Tokyo International Air Terminal Corporation

8. Composition of Shareholders

1. Company Name Tokyo International Air Terminal Corporation
2. Date Founded

June 20, 2006

3. Headquarters Location
Haneda Airport, Ota-ku, TokyoJapan Airport Terminal Co., Ltd.

(51.00%)Japan Airlines Corporation(16.87%)

ANA HOLDINGS INC.

(16.87%)

4. Capital

13,265 million yen

Narita International Airport Corporation(3.05%)

5. Businesses

Maintenance and management of the terminalbuilding in the international section of Tokyo
International Airport

TEPCO Energy Partner, Incorporated(2.37%)

SECOM Co., Ltd.

(2.04%)

Katsuji Doi, President (Former Vice Presidentof Japan Airport Terminal Co., Ltd.)Tokyo Gas Co., Ltd.

(2.04%)

Keihin Electric Express Railway Co., Ltd.

(1.36%)

Tokyo Monorail Co., Ltd.

(1.36%)NTT Data Corporation(1.02%)Development Bank of Japan Inc.

(0.68%)

Mizuho Bank, Ltd.

(0.68%)The Bank of Tokyo-Mitsubishi UFJ, Ltd.

(0.68%)

6. Representative

7. Corporate Philosophy
As the gateway to the nation’s capital, Tokyo,
we will endeavor to continue providing
cutting-edge terminal facilities and services tocustomers from across the world and thus
contribute to the development of theinternational aviation network.

44

２. Summary of Tokyo International Airport (Haneda)(1) Location Map■ Total area of airport■ Apron1,516 haTotal area/268 ha

Spots/232■ Runway
・Runway A

3,000 m×60 m

１・Runway B

2,500 m×60 m

2・Runway C

3,360 m×60 m

3・Runway D

2,500 m×60 m

43

Runway capacity Approx. 447,000
flights/year

６

4■ Terminal building
・Terminal building 1

５

Floor space/292,400 ㎡
Spots (stationary boarding bridge
present)/24 locations
・Terminal building 2

６

2

10

11

９

８

Floor space/265,290 ㎡
Spots (stationary boarding bridge
present)/26 locations
・International terminal building

５
７１

Floor space/approx. 236,000 ㎡
Spots (stationary boarding bridge
present)/18 locations■ Parking lot

７

・P1

Capacity/2,350 vehicles

８・P2

Capacity/2,343 vehicles

９・P3

Capacity/2,450 vehicles

10

・P4

Capacity/3,100 vehicles(includes 2 microbus spaces)

11

12

1３

・Parking lot for international flights
Capacity/approx. 3,000 vehicles
12■ Haneda airport wharf

1３45

２．Summary of Tokyo International Airport (Haneda)(2) Comparison of Passenger Volume
Japan Airport Passenger Volume Ranking(2018 calendar year)

Global Airport Passenger Volume Ranking(2018 calendar year bulletin)

Code

Annual (thousandpeople)Daily average(thousand people)

Share (%)

HND

84,893 (66,924)

232

26.6

2 Narita
International
3 KansaiInternational

NRT

40,675 (7,249)

111

12.7

KIX

28,835 (6,501)

79

9.0

4 Fukuoka

FUK

24,639 (17,811)

67

7.7

Airport1

Haneda(Tokyo International)

City/Airport

Code

Annual(thousand people)

1

AtlantaATL

107,3942

Beijing Capital International

PEK

100,983

3

Dubai

DXB

89,1494

Los Angeles

LAX

87,534

5

Tokyo (Haneda)

HND

87,131

6

Chicago (O’Hare)

ORD

83,3397

London (Heathrow)

LHR

80,126

5 New Chitose

CTS

23,313 (19,587)

63

7.3

6 NahaOKA

21,382 (17,539)

58

6.7

7 Osaka
International
8 Chubu Centrair
International

ITM

16,184 (16,184)

44

5.1

NGO

12,024 (6,129)

32

3.8

9 Kagoshima

KOJ

5,978 (5,591)

16

1.9

8

Hong Kong

HKG

74,517

10 SendaiInternational

SDJ

3,579 (3,270)

9

1.1

9

Shanghai (Pudong)

PVG

74,00610 Paris (Charles De Gaulle)

CDG

72,22977 other airports

57,943 (54,271)

18.1

Figures in parentheses are airport passenger volume for domestic flights.
Material: Aggregate statistics of airport usage within jurisdiction of East
Japan Civil Aviation Bureau and West Japan Civil Aviation Bereau

46

Source: ACI (Airports Council International) publication“Preliminary World Airport Traffic Ranking 2018”

２. Summary of Tokyo International Airport (Haneda)(3) Domestic Destinations and Flights

Okinawa

Flights/day

Okayama

OKJ

10

Hiroshima

HIJ

18

Yamaguchi Ube

UBJ

10

Tottori

TTJ

5

Yonago

YGJ

Izumo

City
Toyama

TOY

4

Noto

NTQ

2

Komatsu

KMQ

10

6

Nagoya (Chubu)

NGO

3

IZO

5

Osaka (Itami)

ITM

30

Iwakuni

IWK

5

Osaka
(Kansai Airport)

KIX

13

Hagi Iwami

IWJ

2

Kobe

UKB

9

Takamatsu

TAK

13

Nanki Shirahama

SHM

3

Tokushima

TKS

11

Matsuyama

MYJ

12

Kochi

KCZ

10

Fukuoka

FUK

54

Kitakyushu

KKJ

16

Saga

HSG

5

Oita

OIT

14

Kumamoto

KMJ

18

NagasakiNGS

14

Miyazaki

KMI

18

Kagoshima

KOJ

23

Amami Oshima

ASJ

1

Okinawa (Naha)

OKA

30

MiyakoMMY

2Ishigaki

ISG

4TohokuFlights/day

Kinki

Chubu

Code

Hokkaido

Code

Kanto

KyushuShikoku

ChugokuCity

Domestic flights 48 routes
Approx. 498 flights (departures)/day(excluding code share flights)

47

City

Code

Flights/day

Sapporo (Chitose)

CTS

53

Wakkanai

WKJ

1Asahikawa

AKJ

7

Obihiro

OBO

7

Kushiro

KUH

6

Mombetsu

MBE

1

Memanbetsu

MMB

5

Nakashibetsu

SHB

1

Hakodate

HKD

8

Aomori

AOJ

6Misawa Hachinohe

MSJ

3Odate-Noshiro

ONJ

2

Akita

AXT

9

Yamagata

GAJ

2

Shonai

SYO

4

City

Code

Flights/day

Hachijojima

HAC

3(As of May 2019)２. Summary of Tokyo International Airport (Haneda)(4) International Destinations and Flights

City name

Code

Slots/day

East Asia

International flights to 31 cities, 34 routes
Approx. 121 flights departing per day

Beijing

PEK

Hong Kong

HKG

Shanghai

China（Honggjao）
Shanghai（Pudong）

PVG

1
6
2
4
5
4
4

Guangzhou

CAN

Tianjin

TSN

2

GMP

12

Seoul
（Gimpo ）
Korea

Seoul
（Incheon ）Taipei（Songshan）

TaiwanSHA

8Taipei（Taoyuan）

INC

1
2

TSA

8

TPE

2

South East Asia

LondonFrankfurt

Philippines

Vancouver

ViennaParis
MunichBeijing

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

Doha

ChicagoSan Francisco

HanedaLos Angeles

Shanghai(Hongqiao)
Dubai

Taipei (Songshan)

Guangzhou
Hanoi

TorontoMinneapolis

MNL

Hanoi

HAN

2

Ho Chi Minh City

SGN

1Thailand

Bangkok

BKK

Malaysia

Kuala Lumpur

KUL

Singapore

Singapore

SIN

Indonesia

Jakarta

CGK

3

SydneySYD

2Honolulu

HNL

Kona

KOA

1

San Francisco

SFO

2

Los Angeles

LAX

New York

JFK

2Minneapolis

MSP

1

ChicagoORD

1

Vancouver

YVR

1Toronto

YYZ

1

UK

London

LHR

FranceParis

CDG

Frankfurt

FRA

MunichMUC

2ViennaVIE

1
1

Vietnam

New York

Taipei (Taoyuan)
Hong Kong
Honolulu

ManilaBangkok

Kona

2

3
4
2
5
3

Oceania
Australia

Ho Chi Minh City

2

ManilaNorth America

Kuala Lumpur

Singapore
Jakarta

USA

SydneyCanada21

2
1Europe6:00–23:00

Germany

Austria

23:00–6:00

3
1
4
2
1

Middle East

Both daytime flight and late night/early morning flight hours

UAE

Dubai

DXB

Qatar

Doha

DOH

International departure total

48

1
121

(As of May 2019)２. Summary of Tokyo International Airport (Haneda)(5) International Rating of the Haneda Airport Passenger Terminal
In an international rating by SKYTRAX, Haneda Airport:
Ranked 1st in the “World’s Cleanest Airports” category (Haneda Airport domestic and international passenger terminals) for fourth consecutive year

Ranked 1st in the “World’s Best Domestic Airports” category (Haneda Airport domestic passenger terminal) for seventh consecutive year
Ranked 1st in the “World’s Best PRM/Accessible Facilities” category (Haneda Airport domestic and international passenger terminal) : New category
At the World Airport Awards 2019 held by Skytrax of the UK, Haneda Airport’s passenger
terminals were presented with first place in the World’s Best Airport Clean category for the
fourth year in a row, and its domestic terminals were awarded first place in the World’s Best
Domestic Airport category for the seventh year in a row. Haneda Airport was also awarded

first place in the new category of PRM and Accessible Facilities.
In the World’s Cleanest Airports category, once again, the cleanliness and comfort ofHaneda’s terminals was recognized, and the airport took first place for the fourthconsecutive year and the sixth time in total.
In the World’s Best Domestic Airports category, Haneda Airport’s domestic terminals werecommended in general for their ease of use, comfort, and other factors, leading to Haneda’s
seventh straight win in this category.

In the newly established category of PRM and Accessible Facilities, Haneda Airport wasnamed as the World’s Best Airport for the excellence of its approaches to passengers
requiring mobility support, such as the elderly and people with disabilities.
In the World’s Best Airports category, which ranks airports on an overall assessment,
Haneda Airport was awarded second place.
At both its domestic and international terminals, Haneda Airport has an extremely
important role to play in furthering Japan’s development as a tourism-oriented nation and in

the strengthening of its function as a hub airport that takes advantage of Japan’s domestic
air transport network.
With the 2020 Tokyo Olympic and Paralympic Games fast approaching, the whole ofHaneda will work together to provide facilities and services that offer excellence inconvenience, comfort, and function at both the domestic and international terminals.

49Notes regarding projections
Items such as plans, targets, policies, strategies, decisions, financial forecasts,
future figures and monetary amounts in this presentation that is not historical
data are projections of the future. These are based on management’s
projections, assumptions, evaluations, judgments, and conditions on
information obtainable at the present time. Realizing these items entail
uncertainty and various risks.

This presentation material is not intended to solicit investments. We request you
to make own decision regarding investments.

Contact
Japan Airport Terminal Co., Ltd., Investor Relations Division
TEL: 03 (5757) 8409
FAX: 03 (5757) 8029
Email: ir@jat-co.com