Financial Report for the Third Quarter of the Fiscal Year Ending March 31, 2011 (FY2010) [J-GAAP](Consolidated)
February 9, 2011
This document has been translated from the Japanese original, for reference purposes only. In the event of any discrepancy between thistranslated document and the Japanese original, the original shall prevail.

Listed company name:
Japan Airport Terminal Co., Ltd.
Listing exchange: Tokyo, 1st Section
Code number:
9706
URL: http://www.tokyo-airport-bldg.co.jp/
Representative:
Isao Takashiro, President
Contact:
Shokichi Ishiguro, Senior Managing Director TEL: 03-5757-8030
Scheduled date of securities report submission:
February 14, 2011—
Scheduled date of dividend payment commencement:
Preparation of quarterly earnings presentation material (yes/no): No
No
Holding of quarterly earnings announcement (yes/no):(Figures shown are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the First Nine Months of FY2010 (April 1, 2010 to December 31, 2010)(1) Consolidated Business Results (Cumulative)(Percentage figures indicate the rates of changes from the same period in the previous fiscal year.)First Nine Months of
FY2010Operating revenues

Operating income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

101,520

10.9

4,011

(3.8)

3,247

(20.5)

1,139(41.6)

91,568(11.2)

4,171(26.1)

4,082(31.5)

1,951(40.3)

FY2009Net income per shareFirst Nine Months of
FY2010Ordinary income

Diluted net income per shareYen

FY2009Net income

Yen

14.17

—

21.82

—

(2) Consolidated Financial Position
Total assets

Equity ratio

Net assets per share

Millions of yen%

Yen

194,617

102,56751.7

1,252.30

As of December 31, 2010
As of March 31, 2010
Reference: Equity capital

Net assets

Millions of yen

186,384
103,331
54.4
As of December 31, 2010: ¥100,668 million
As of March 31, 2010: ¥101,403 million

1,261.44

2. Dividends
Annual dividends
First quarter-end

Secondquarter-end

Yen

Third quarter-end
Yen

Year-end

Yen

FY2009—6.50—

FY2010—3.50—

FY2010 (forecast)
Note: Revisions to the above forecast of dividends results in the current period under review: None

Annual
Yen

Yen

6.50

13.00

3.50

7.00

3. Forecast of Consolidated Financial Results for the FY2010 (April 1, 2010 to March 31, 2011)(Full year percentage figures indicate the rates of changes from the previous fiscal year.)

Operating revenues
Millions of yen%

Operating income
Millions of yen

Ordinary income%

Millions of yen

Net income pershare

Net income%

YenFull-year
136,100
12.5
4,100(19.7)
2,800(43.9)
600(76.8)
Note: Revisions to the above forecast of consolidated financial results in the current period under review: None%

Millions of yen

7.46

4. Other Information (For details, please refer to “2. Other Information” on page 4.)(1) Changes in significant subsidiaries during the period under review: None
Note: This refers to changes in specific subsidiaries involving changes in scope of consolidation during the period under review.

(2) Adoption of simplified accounting methods and specific methods: Yes
Note: This refers to adoption of simplified accounting methods and specific methods for preparation of the quarterly consolidated
financial statements.

(3) Changes in accounting principles, procedures, and the display methods
1) Changes due to revisions of accounting standards, etc.: Yes
2) Changes in matters other than 1) above: None
Note: This refers to changes in accounting principles, procedures, and the display methods associated with preparation of thequarterly consolidated financial statements (matters to be included in the section, “Change in Basic Conditions to Prepare theQuarterly Consolidated Financial Statements”)(4) Number of shares outstanding (common stock)1) Number of shares outstanding as of theperiod-end (including treasury stock)2) Number of treasury stock as of theperiod-end
3) Average number of shares outstanding(quarterly consolidated cumulative
period)As of December 31,
2010:
As of December 31,
2010:
First nine months of
FY2010:84,476,500 shares As of March 31, 2010:

84,476,500 shares

4,089,684 shares As of March 31, 2010:

4,089,416 shares

80,386,967 shares First nine months of
FY2009:89,434,287 shares* Implementation status of quarterly review procedures
The quarterly review procedure based on the Financial Instruments and Exchange Act does not apply to this Financial
Report, and the quarterly review procedure based on the Financial Instruments and Exchange Act had not been
completed as of the release of this Financial Report.
* Presentation regarding the proper use of financial forecast and other special remarks
1. The forecast was made based on information available at the time the material was released, and actual earnings may
differ from the forecast for various reasons.
2. For matters related to financial forecast mentioned above, please refer to “(3) Qualitative Information on Forecast ofConsolidated Financial Results” on page 4 under the “1. Qualitative Information on Consolidated Financial Results for
the First Nine Months of FY2010 (April 1, 2010 to December 31, 2010)” section.

2

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010){ Contents of the Appendix Materials
1. Qualitative Information on Consolidated Financial Results for the Nine Months of FY2010 (April 1, 2010 to
December 31, 2010) .........................................................................................................................................................2(1) Qualitative Information on Consolidated Business Results........................................................................................2(2) Qualitative Information on Consolidated Financial Position......................................................................................3(3) Qualitative Information on Forecast of Consolidated Financial Results ....................................................................4
2. Other Information.............................................................................................................................................................4(1) Overview of the Changes in Significant Subsidiaries ................................................................................................4(2) Overview of Simplified Accounting Methods and Specific Methods ........................................................................4(3) Overview of the Changes in Accounting Principles, Procedures, and the Display Methods......................................4(4) Overview of the Significant Matter Regarding the Premise of a Going Concern ......................................................5
3. Quarterly Consolidated Financial Statements...................................................................................................................6(1) Quarterly Consolidated Balance Sheets......................................................................................................................6(2) Quarterly Consolidated Statements of Income ...........................................................................................................8(3) Quarterly Consolidated Statements of Cash Flows ..................................................................................................10(4) Notes to the Premise of a Going Concern ................................................................................................................12(5) Segment Information ................................................................................................................................................12(6) Notes to a Significant Change in Shareholders’ Equity ............................................................................................13-1-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010)

1. Qualitative Information on Consolidated Financial Results for the First Nine Months of FY2010 (April 1, 2010
to December 31, 2010)(1) Qualitative Information on Consolidated Business Results
During the first nine months of the fiscal year ending March 31, 2011, the Japanese economy saw signs ofimprovements in corporate earnings and consumer spending. However, economic recovery remained stagnant overall
due to negative factors like persistently difficult employment conditions. Looking ahead, the economy is expected toprogress toward a self-sustaining recovery, but there are risks that any improvement could be stifled by the impacts ofextended yen appreciation and a global economic downturn.
In the airline industry, growth in passenger volume on domestic flights has shrunk from the second half, reflecting
economic stagnation and other factors. Nevertheless, the volume trended at levels higher than those of a year ago, after
recovering from the downturn triggered by previous year’s H1N1 influenza outbreak and other developments.
Passenger volume on international flights increased compared to the same period of the previous year. The Senkaku
Boat Collision Incident, a collision between a Japanese Coast Guard vessel and a Chinese fishing vessel near the
Senkaku Islands in September, took a heavy toll on the number of Chinese tourists visiting Japan. However, thenumber of foreign travelers visiting Japan, mainly from China and South Korea, increased during the first half. In
addition, landing slots at Tokyo International Airport (Haneda) expanded following the opening of its Runway D on
October 21.
Under these conditions, the Japan Airport Terminal (JAT) Group has continued to focus all its energy on
implementing stricter safety measures at passenger terminal buildings, thoroughly adopted a customer-first philosophy
and strove to further improve services. We also aggressively worked on improving efficiency in managing thepassenger terminal buildings, activating business operations, promoting management rationalization, in order to foster
our business growth and strengthen the management base.
The JAT Group is working to increase its corporate value under its medium-term business plan (FY2010 – FY2012).
Toward that end, we steadily pursued expansion of Terminal 2 for domestic flights and opened it for service on
October 13. We are actively developing our consigned services, wholesale and other operations at the newinternational passenger terminal building, which was opened for service on October 21. In addition, we advanced theopening of the P4 multi-story parking facility (main building) to August from October, lowered the fee for the P1 andP4 parking facilities beginning in October, and actively took other steps to improve customer convenience.
The Group’s revenue rose year on year. Beginning in December, leased offices in Haneda Airport’s domestic
passenger terminal building started to be returned by airline companies. However, the negative impacts of this factor
was offset by the positive impacts from the followings: Passenger volume on both domestic and international flights
remained at higher levels than in the previous year, and revenues from consigned services, wholesale and otheroperations at the new international passenger terminal building increased. In addition, the Group implemented various
measures such as the opening of the Terminal 2 expansion (south side of the main building) and invigoration ofcommercial facilities.
As a result, consolidated operating revenues for the current nine months rose 10.9% compared with the same periodof the previous year, to ¥101,520 million. Operating income, however, fell 3.8%, to ¥4,011 million, due tononrecurring expenses related to the expansion of Terminal 2 for domestic flights. Ordinary income fell 20.5%, to¥3,247 million, mainly due to a loss on disposal of fixed assets related to the Terminal 2 expansion. Net income fell
41.6%, to ¥1,139 million, due to the application of the accounting standard for asset retirement obligations.
The following is a breakdown of earnings by segment. It should be noted that figures for operating income (loss)
are equivalent to those of segment income (loss).
[Facilities Management]
Rent revenue and facility user charges revenue increased year on year. The return of leased offices by airline
companies in the domestic passenger terminal building at Haneda Airport beginning in December caused a decrease inrevenue. The impact of this decrease, however, was overmatched by the impacts of an increase in leasable space, anincrease in user charges paid by airline companies for domestic terminal facilities, and other positive impacts of the
December opening of Haneda Airport’s Terminal 2 expansion.
Other revenues exceeded the figure for the same period of the previous year by a wide margin. This resulted fromincreases in revenues from both facility maintenance and other consigned services and subcontracted work following
the October opening of Haneda Airport’s new international passenger terminal building.
As a result, operating revenues from the facilities management operations increased 9.5% compared with the same
period of the previous year to ¥32,862 million. Operating income increased 2.0% to ¥2,428 million.

-2-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010)[Merchandise Sales]
Sales at the domestic terminal shops surpassed the figure for the same period of the previous year, helped by both
higher domestic passenger volume and the October opening of Haneda Airport’s Terminal 2 expansion. The latter set
the stage for openings of new directly managed stores, introductions of new product brands, and the redoubling ofefforts to boost sales through exhibition sales activities featuring seasonal products.
Sales at the international terminal shops also came in ahead of previous year’s figure thanks to openings of directly
managed stores and other developments following the October opening of Haneda Airport’s new international
passenger terminal building.
Likewise, other sales came in significantly ahead of the previous year’s figure, fueled mainly by starting thewholesaling of products to shops in the new international passenger terminal building.
As a result, operating revenues from merchandise sales operations increased 12.4% compared with the previous firstnine months to ¥59,859 million and operating income rose 10.3% to ¥5,060 million.
[Food and Beverage]
Sales from food and beverage operations exceeded the figure for the same period of the previous year because of newstore development and other activities following the October openings of Haneda Airport’s Terminal 2 expansion andnew international passenger terminal building.
Sales from in-flight meals rose thanks to the aggressive sales activities including acquisition of new customers.
Other sales rose significantly year on year because of the start of consigned service of managing food and beveragefacilities in the new international passenger terminal building.
As a result, operating revenues from food and beverage operations rose 5.5% yea on year to ¥12,713 million. On theother hand, operating loss came to ¥183 million (operating loss of ¥48 million for the same period of the previousyear). The main factors behind this were hikes in personnel expense, outsourcing fees, and other outlays related to the
openings of new stores, and startup costs for in-flight meal operations at Haneda Airport.
(2) Qualitative Information on Consolidated Financial Position[Assets, liabilities and net assets]
Total assets increased by ¥8,232 million year on year to ¥194,617 million mainly because accounts receivable andlong-term loans receivable increased.
Total liabilities increased by ¥8,995 million year on year to ¥92,049 million mainly because accounts payable andlong-term loans payable increased.
Total net assets decreased by ¥763 million year on year to ¥102,567 million mainly because deferred losses onhedges increased.
Accordingly, the equity ratio came to 51.7%.
[Cash flows]
Cash and cash equivalents (hereinafter referred to as “cash”) at the end of the third quarter under review decreased by¥2,000 million year on year to ¥14,652 million.
Cash flow conditions and the main factors behind changes for the period under review are explained below.
[Cash flows from operating activities]
Net cash provided by operating activities decreased ¥152 million, or 1.9% year on year to ¥7,742 million.
This was mainly due to an increase in trade accounts receivable and a decrease in quarterly income before income
taxes and minority interests, in spite of a decrease in income taxes paid.
[Cash flows from investing activities]
Net cash used in investing activities increased by ¥799 million, or 7.3% year on year to ¥1,178 million.
This was mainly due to a decrease in inflows from sales of marketable securities, which exceeded a decrease inoutlays for acquisition of tangible fixed assets.
[Cash flows from financing activities]
Net cash provided by financing activities decreased by ¥2,907 million, or 59.7%year on year to ¥1,964 million.
This was mainly due to the lower inflows from long-term and short-term borrowings, in spite of a decrease inoutlays for purchases of treasury stock.

-3-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010)(3) Qualitative Information on Forecast of Consolidated Financial Results
Passenger volume for the first nine months under review was slightly below expectations mainly because of economic
stagnation beginning in the second half and the declining trend in Chinese visitors to Japan in the wake of the Senkaku
Boat Collision Incident in September. Operating revenues, operating income, ordinary income, and quarterly net
income, however, have basically met expectations.
As for the fourth quarter, passenger volume is expected to approximate expectations. However, with the Japanese
economy at risk of being pulled down by the impacts of weakening overseas economies and protracted yen strength,
conditions remain highly unpredictable.
Given the above, the JAT Group will do its utmost to stay abreast of changes in its business environment as wepress forward with efforts to improve our results.
No change has been made to the outlook for full-year consolidated results released on November 4, 2010.

2. Other Information(1) Overview of the Changes in Significant Subsidiaries
There is nothing to report.
(2) Overview of Simplified Accounting Methods and Specific Methods
1) Method used to value inventories
With respect to the calculation of inventory levels at the end of the third quarter of the current fiscal year, physicalinventory is omitted and the method of calculation is based on a rational method on the foundation of levels ofphysical inventory at the end of the second quarter of the consolidated accounting period.
Inventories are calculated using a reasonable method based on the physical inventory amount, in lieu ofperforming physical inventory count.
In addition, the carrying amount of inventories is reduced to estimated net selling value only where there is an
obvious decrease in profitability.
2) Method of calculating depreciation of fixed assets
For fixed assets depreciated using the declining-balance method, depreciation expenses applicable to the current
fiscal year are calculated on a pro-rata basis.
3) Calculation of tax expenses
Tax expenses are calculated by making a reasonable estimation of the effective tax rate on income before income
taxes for the current fiscal year including the current third quarter after the application of deferred tax accounting andapplying the estimated effective tax rate to quarterly income before income taxes.
In addition, income taxes－deferred are included in the item of income taxes.
(3) Overview of the Changes in Accounting Principles, Procedures, and the Display Methods
Changes in Accounting Methods
1) Application of the “Accounting Standard for Equity Method of Accounting for Investments” and the “Practical
Solution on Unification of Accounting Policies Applied to Associates Accounted for Using the Equity Method”
Effective from the first quarter of the current fiscal year, the “Accounting Standard for Equity Method of Accounting
for Investments” (Accounting Standards Board of Japan [ASBJ] Statement No. 16 issued on March 10, 2008), andthe “Practical Solution on Unification of Accounting Policies Applied to Associates Accounted for Using the Equity
Method” (PITF No.24 issued on March 10, 2008) have been adopted.
This application had no impact on the consolidated financial statements.
2) Application of the “Accounting Standard for Asset Retirement Obligations”
Effective from the first quarter of the current fiscal year, the “Accounting Standard for Asset Retirement Obligations”(ASBJ Statement No.18 issued on March 31, 2008) and the “Guidance on Accounting Standard for Asset Retirement
Obligations” (ASBJ Guidance No.21 issued on March 31, 2008) have been adopted.
As a result of the application, operating income and ordinary income for the first nine months of the current fiscal-4-Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010)

year decreased by ¥34 million each, quarterly income before income taxes by ¥800 million. In addition, ¥685 million
was posted as changes in the asset retirement obligation.
(Additional information)
Accounting for cost of sales
Beginning with the first quarter of the current fiscal year, the labor and other costs related to food and beverage
operations that were previously recorded by some consolidated subsidiaries under selling, general and administrative
expenses are now being recorded under cost of sales.
This change was made because the strengthening of the cost management system and the adoption of a system
permitting the identification of expenses as directly related to food and beverage operations sales made it possible toclearly match these revenues and expenses.
As a result, gross profit is ¥953 million lower than in would have been without this change. Operating income,ordinary income, and quarterly net income before income taxes, however, were unaffected.
Change in Method of Presentation(Quarterly Consolidated Statements of Income)1) Based on the “Accounting Standard for Consolidated Financial Statements” (ASBJ Statement No.22 on
December 26, 2008), the JAT Group applies the “Cabinet Office Ordinance Partially Revising Regulation on
Terminology, Forms and Preparation of Financial Statements” (Cabinet Office Ordinance No.5 on March 24,2009) and has included “Quarterly income before minority interests” in the consolidated financial statements
for the first nine months of the fiscal year ending March 31, 2011.
2) “Commission for purchase of treasury stock,” which was shown as a separate item through the first nine monthsof the previous fiscal year, was ¥0 million for the first nine months of the current fiscal year, less than twenty
hundredths of the total amount of non-operating expenses. It has, therefore, been included in “Miscellaneous
expenses” under non-operating expenses.
(Quarterly Consolidated Statements of Cash Flows)
1) “Commission for purchase of treasury stock” (¥0 million for the first nine months of the current fiscal year),which was shown as a separate item under “Cash flows from operating activities” through the first nine monthsof the previous fiscal year, has been included in “Others” under “Cash flows from operating activities” due to alack of materiality.
2) “Purchase of treasury stock” (¥0 million for the first nine months of the current fiscal year), which was shown
as a separate item under “Cash flows from financing activities” through the first nine months of the previous
fiscal year, has been included in “Others” under “Cash flows from financing activities” due to a lack ofmateriality.
(4) Overview of the Significant Matter Regarding the Premise of a Going Concern

There is nothing to report.

-5-Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010)

3.

Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Millions of yen)First Nine Months of
FY2010(As of December 31, 2010)

FY2009(As of March 31, 2010)ASSETS
Current assets
Cash and time deposits

14,965

16,798

Accounts receivable

10,0595,592

Marketable securities

559

549

Merchandise and finished products

3,830

3,221

Raw materials and stored goods

167

104

Deferred tax assets

983

952

Other current assets

4,203

1,423

(47)

(39)

34,721

28,602

264,056

244,502

Accumulated depreciation and impairment loss

(149,312)(141,862)

Buildings and structures, net

114,744

102,640

Machines, devices and vehicles

11,007

10,710

Accumulated depreciation and impairment loss

(9,448)(9,168)

Machines, devices and vehicles, net

1,559

1,542

10,575

10,575428

15,314

24,766

20,895(17,915)(17,039)

Other fixed assets, net

6,851

3,855

Total tangible fixed assets

134,158

133,927

1,827

1,045

Investment securities

6,298

7,630

Deferred tax assets

9,214

9,145

Other investments

8,396

6,033

Total investments and other assets

23,90922,809Total fixed assets

159,895

157,781TOTAL ASSETS

194,617

186,384

Allowance for doubtful accounts
Total current assets
Fixed assets
Tangible fixed assets
Buildings and structures

Land
Construction in progress
Other fixed assets
Accumulated depreciation and impairment loss

Intangible fixed assets
Investments and other assets-6-Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010)(Millions of yen)First Nine Months of
FY2010(As of December 31, 2010)

FY2009(As of March 31, 2010)

LIABILITIESCurrent liabilities
Accounts payable

6,159

4,578

Short-term loans payable

13,59012,567

Income taxes payable

602

608

Allowance for employees’ bonuses

518

903

Allowance for directors’ bonuses

90

113

Asset retirement obligations

619－

Other current liabilities

10,097

7,714

Total current liabilities

31,677

26,486Long-term loans payable

47,09845,234

Allowance for employees’ retirement benefits

5,053

4,940

260

－

Other fixed liabilities

7,959

6,393

Total fixed liabilities

60,37156,567TOTAL LIABILITIES

92,04983,053

Common stock

17,48917,489

Capital surplus

21,30921,309Retained earnings

67,213

66,878Treasury stock(4,081)(4,081)

Total shareholders’ equity

101,931

101,596

Unrealized gains on other securities

969

973

Deferred gains (losses) on hedges(2,232)(1,166)

Total valuation and translation adjustments(1,263)(193)

Minority interests

1,899

1,927

TOTAL NET ASSETS

102,567

103,331

TOTAL LIABILITIES AND NET ASSETS

194,617

186,384

Fixed liabilities

Asset retirement obligations

NET ASSETS
Shareholders’ equity

Valuation and translation adjustments-7-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010)(2) Quarterly Consolidated Statements of Income(Millions of yen)First Nine Months of
FY2009(from April 1, 2009
to December 31, 2009)
Operating revenues
Rent revenue

First Nine Months of
FY2010(from April 1, 2010
to December 31, 2010)

10,614

10,797

Facility user charges revenue

11,77812,072Other revenues

6,196

8,558

Sale of merchandise

52,56559,241

Sale of food and beverage

10,413

10,850Total operating revenues

91,568

101,520

Cost of sales of merchandise

38,44244,097

Cost of sales of food and beverage

5,523

6,828

Total cost of sales

43,96650,92647,601

50,594

Cost of sales

Gross profit
Selling, general and administrative expenses
Salaries and wages

5,863

6,161

Provision for employees’ bonuses

574

464

Provision for directors’ bonuses

101

90

Expenses for retirement benefits

635

637

Provision for directors’ retirement benefits

67－

Rent expenses

5,673

5,656

Outsourcing and commission

5,691

7,634

Depreciation expenses

10,141

9,531

Other costs and expenses

14,681

16,406

Total selling, general and administrative expenses

43,42946,582

4,171

4,011

Interest income

52

116

Dividends income

72

71

Equity in earnings of affiliates

174－

Miscellaneous income

795

700

Total non-operating income

1,095

888

Interest expenses

659

768

Equity in losses of affiliates－

489

Loss on retirement of fixed assets

23

348

Commission for purchase of treasury stock

368－

Miscellaneous expenses

133

47

1,184

1,653

4,082

3,247

Operating income
Non-operating income

Non-operating expenses

Total non-operating expenses
Ordinary income-8-Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010)

First Nine Months of
FY2009(from April 1, 2009
to December 31, 2009)First Nine Months of
FY2010(from April 1, 2010
to December 31, 2010)

Extraordinary income
Gain on sales of investment securities

14－

Total extraordinary income

14－

Loss on valuation of investment securities

327

45

Loss on sales of investment securities

29－

Loss on valuation of other investments－

26

Loss on adjustment for changes of accounting standard for
asset retirement obligations
Total extraordinary loss

－

765

357

837

Quarterly income before income taxes and minority interests

3,739

2,409

Income taxes－current

1,788

1,290

Quarterly income before minority interests

－

1,119

Minority interests in income (loss)

0

(20)

1,951

1,139

Extraordinary loss

Quarterly net income-9-Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010)(3) Quarterly Consolidated Statements of Cash Flows(Millions of yen)First Nine Months of
FY2009(from April 1, 2009
to December 31, 2009)
Cash flows from operating activities
Quarterly income before income taxes
Depreciation and amortization
Increase (decrease) in allowance for employees’ retirement
benefits
Increase (decrease) in allowance for directors’ retirement
benefits
Increase (decrease) in allowance for employees’ bonuses

First Nine Months of
FY2010(from April 1, 2010
to December 31, 2010)

3,739

2,409

10,158

9,648

(71)

113

(1,383)

－

(278)

(384)

Increase (decrease) in allowance for directors’ bonuses

(68)

(23)

Interest and dividends income

(125)

(188)

Interest expenses

659

768

Equity in losses (earnings) of affiliates

(174)

489

Loss (gain) on sales of investment securities

14－

Loss (gain) on valuation of investment securities

327

45

Loss (gain) on sales of tangible fixed assets

(0)

(0)

Loss on retirement of tangible fixed assets
Loss on adjustment for changes of accounting standard for
asset retirement obligations
Decrease (increase) in accounts receivable－trade

23

348

－

765

(1,384)(4,466)

Decrease (increase) in inventories

240

(671)

Decrease (increase) in other current assets(155)(2,299)

Increase (decrease) in accounts payable－trade

708

1,580

Increase (decrease) in other current liabilities(1,443)

1,824

Increase (decrease) in other fixed liabilities

1,095

177

Commission for purchase of treasury stock

368－

Others

(240)

(113)

Subtotal

12,00910,024

Interest and dividends income received

95

89

(436)

(693)

Income taxes paid

(3,773)(1,678)Net cash provided by operating activities

7,894

7,742

Interest expenses paid

- 10 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010)(Millions of yen)First Nine Months of
FY2009(from April 1, 2009
to December 31, 2009)First Nine Months of
FY2010(from April 1, 2010
to December 31, 2010)

Cash flows from investing activities
Placement of time deposits

(18)

(18)

Proceeds from withdrawal of time deposits

300

50

Purchase of marketable securities(1,448)(859)

Proceeds from sales of marketable securities

2,647

650

Purchase of investment securities

(12)

(7)

Proceeds from sales of investment securities

582－

Purchase of treasury stock of subsidiaries in consolidation

(18)

－

(9,729)(8,201)5

1Purchase of intangible fixed assets

(473)

(469)

Purchase of long-term prepaid expenses

(101)

(6)

Payments of long-term loans receivable(2,672)(2,667)

Collection of long-term loans receivable

17

17

Other payments

(9)

(224)

Other proceeds

22

26(10,909)(11,708)

Proceeds from short-term loans payable

20,110－Decrease in short-term loans payable(20,110)－Proceeds from long-term loans payable

31,40010,400

Repayment of long-term loans payable(4,865)(7,513)Purchase of treasury stock(20,432)－

Dividends payment by parent company(1,175)(803)

Dividends paid to minority shareholders

(29)

(28)

Others

(24)

(89)

4,872

1,964

1

1

Increase (decrease) in cash and cash equivalents

1,858(2,000)Cash and cash equivalents at beginning of term

15,693

16,653

Cash and cash equivalents at end of term

17,551

14,652

Purchase of tangible fixed assets
Proceeds from sales of tangible fixed assets

Net cash provided by (used in) investing activities
Cash flows from financing activities

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents- 11 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010)(4) Notes to the Premise of a Going Concern
There is nothing to report.
(5) Segment Information
a. Business Segment Information
First nine months of FY2009 (April 1, 2009 to December 31, 2009)(Millions of yen)Classification

Eliminations/Corporate

Consolidated

91,568－91,568

1,642

3,763

(3,763)－

12,056(48)

95,331
6,922(3,763)(2,750)91,5684,171

Facilities
Management

Merchandise
Sales

Food andBeverage

Total

28,42352,731

10,4131,589

530

30,0132,380

53,262
4,589

Operating revenues(1) Sales to externalcustomers(2) Intersegment sales
and transfers
Total
Operating income (loss)
b. Segment Information
1. Overview of the Reportable Segments
For the Company’s reportable segments, among other organizational units, financial information can be gathered
independently. These business segments are regularly reviewed by the Board of Directors in order to make decisions
on management resource allocations as well as evaluations of business performance.
The Company is primarily engaged in the management of passenger terminal buildings and the provision ofservices to users at Haneda Airport. Business divisions at the Company’s headquarters develop comprehensive
business strategies and pursue business activities.
The Company is, therefore, composed of business segments with different services based on the business divisions.
Its three reportable segments are the facilities management operations, merchandise sales operations, and food andbeverage operations.
The segment of facilities management operations leases, maintains and repairs, and operates passenger terminal
facilities at Haneda Airport. It also provides services for passengers. The segment of merchandise sales operations is
engaged in retail sales of products to passengers and others, wholesales of products to companies operating airport
terminals and others, and other activities incidental to these two sales operations. The segment of food and beverage
operations provides food and beverage services to parties including users of Haneda Airport and Narita International
Airport. It is also engaged in the production and sales of in-flight meals and other incidental activities.
2. Sales and Income (Loss) by Reportable Segments
First nine months of FY2010 (April 1, 2010 to December 31, 2010)(Millions of yen)

Reportable segments
Adjustments

Operating revenues
Sales to externalcustomers
Intersegment sales andtransfers
Total
Segment income (loss)

Note 1

Carrying
amount onquarterly
consolidated
statements ofincome Note 2

Facilities
Management

Merchandise
Sales

Food andBeverage

Total

31,05959,397

11,063

101,520－

101,520

1,803

462

1,649

3,915

(3,915)－32,862
2,428

59,8595,060

12,713(183)

105,435
7,306(3,915)(3,294)

101,520
4,011

Notes: 1. Adjustments to the segment income (loss) include ¥3,295 million of administration expenses for the parent company’s
administration divisions, etc. which are not allocated to each of the reportable segments.
2. Segment income is adjusted for operating income (loss) described in Quarterly Consolidated Statements of Income.

- 12 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Nine Months of the Fiscal Year Ending March 31, 2011 (FY2010)

3. Impairment of Fixed Assets and Goodwill, by Reportable Segments
There is nothing to report.
(Additional information)
Effective from the first quarter of the current fiscal year, the Company adapted “Accounting Standard for Disclosuresabout Segments of an Enterprise and Related Information” (ASBJ Statement No. 17 issued on March 27, 2009) and“Guidance on Accounting Standard for Disclosures about Segments of an Enterprise and Related Information” (ASBJ
Guidance No. 20 issued on March 21, 2008).
(6) Notes to a Significant Change in Shareholders’ Equity
There is nothing to report.

- 13 -