Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020) [J-GAAP](Consolidated)
August 5, 2020
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. (“the Company”)
Listed stock exchange: Tokyo, 1st Section
9706
URL: https://www.tokyo-airport-bldg.co.jp/company/en/
Nobuaki Yokota, President and COO
Kazuhito Tanaka, Managing Director
TEL 03-5757-8409
Scheduled date of filing securities report:
August 13, 2020
Scheduled date of commencing dividend payment:－
Supplementary materials on financial results (yes/no)
No
Holding of quarterly earnings announcement (yes/no)
No
Company name:
Code number:
Representative:
Contact:(Figures are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the First Three Months of FY2020 (April 1, 2020 to June 30, 2020)(1) Consolidated Business Results (Cumulative)
Operating revenues(%: Change from the same period of the previous year)

Operating income

Net income attributable toowners of the parent

Ordinary income

First Three
Months ofMillions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

FY2020FY20198,767
67,652-87.0-0.7(17,467)
5,886

-8.0

(18,840)
5,646

-7.7

(9,710)
3,082

-87.6

(Note) Comprehensive income: First three months of FY2020 ¥-13,923 million (-%) First three months of FY2019 ¥3,611 million (-86.5%)

First Three
Months of

Net income per
share
Yen

Diluted net income
per share
Yen(119.55)
37.95

36.20

FY2020FY2019(2) Consolidated Financial Position
Total assets

As of June 30, 2020
As of March 31, 2020
(Reference) Equity capital:

Equity capital tototal assets

Net assets

Net assets per share

Millions of yen

Millions of yen%

Yen

501,561
521,363

187,134
201,89930.2
31.2

1,867.85
2,001.83

As of June 30, 2020 ¥151,721 million

As of March 31, 2020 ¥162,605 million

2. Dividends
Dividends per share
Q1-EndFY2019FY2020
FY2020 (Forecast)

Q2-EndQ3-EndYear-End

Annual

Yen

Yen

Yen

Yen

Yen

-

22.00

-

10.00

32.00

-

-

-

-

(Note) 1. Revisions to the most recently announced dividends forecast for FY2020: None
2. We have decided to postpone the announcement of the outlook for dividend payment for the fiscal year ending March 31, 2021

3. Forecast of Consolidated Financial Results for FY 2020 (April 1, 2020 to March 31, 2021)
With respect to the earnings forecast for the fiscal year ending March 31, 2021, since it is difficult to determine the impact of the newcorona virus infection on an appropriate and reasonable basis, we have decided to postpone the announcement of our earnings forecast.
We will announce our consolidated earnings forecast in the future as soon as when conditions are such that it becomes possible todisclose a reasonable estimate.

* Notes(1) Significant changes in subsidiaries during the period under review (changes in specified subsidiaries involving changes in scope of
consolidation): No
New: None
Excluded: None
(2) Adoption of special accounting methods for preparation of quarterly consolidated financial statements: Yes(Note) For details, please refer to page 11 of the appendix materials “2. Quarterly Consolidated Financial Statements and Notes(3) Notes on Quarterly Consolidated Financial Statements: Adoption of Special Accounting Methods for Preparation of
Quarterly Consolidated Financial Statements”.
(3) Changes in accounting policies, accounting estimates, and restatement of revisions
1) Changes in accounting policies due to revisions of accounting standards, etc.: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Restatement of revisions: None
(4) Number of shares outstanding (common stock)1) Number of shares outstanding at the period-end (including treasury stock):
As of June 30, 2020
84,476,500 shares
As of March 31, 2020
2) Number of treasury stock at the period-end:
As of June 30, 2020
3,248,371 shares
As of March 31, 2020
3) Average number of shares outstanding (quarterly consolidated cumulative period):First quarter of FY2020
81,228,137 sharesFirst quarter of FY2019

84,476,500 shares
3,248,324 shares
81,228,521 shares* This quarterly financial report is not subject to the quarterly review by certified public accountants or auditing
firms.
* Statements regarding the proper use of financial forecast and other special remarks
Notes on the use of forward-looking statements
With respect to the earnings forecast for the fiscal year ending March 31, 2021, since it is difficult to determine the impact of the newcorona virus infection on an appropriate and reasonable basis, we have decided to postpone the announcement of our earnings
forecast.

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)

Contents of the Appendix Materials
1. QUALITATIVE INFORMATION ON CONSOLIDATED FINANCIAL RESULTS FOR THE FIRST THREE
MONTHS OF FY2020 (APRIL 1, 2020 TO JUNE 30, 2020) ............................................................................................ - 2 (1) EXPLANATION OF OPERATING RESULTS ................................................................................................... - 2 (2) EXPLANATION OF FINANCIAL POSITION ................................................................................................... - 5 (3) EXPLANATION OF CONSOLIDATED FINANCIAL FORECASTS AND OTHER FORWARD-LOOKING STATEMENTS- 5
2. QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS AND NOTES ...................................................... - 6 (1) QUARTERLY CONSOLIDATED BALANCE SHEETS ....................................................................................... - 6 (2) QUARTERLY CONSOLIDATED STATEMENTS OF INCOME AND QUARTERLY CONSOLIDATED STATEMENTS OFCOMPREHENSIVE INCOME .................................................................................................................... - 8 Quarterly Consolidated Statements of Income ............................................................................................... - 8 Quarterly Consolidated Statements of Comprehensive Income ...................................................................... - 10 (3) NOTES ON QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS .......................................................... - 11 (NOTES ON THE PREMISE OF A GOING CONCERN) ........................................................................................ - 11 (NOTES ON A SIGNIFICANT CHANGE IN SHAREHOLDERS’ EQUITY) ............................................................... - 11 (ADOPTION OF SPECIAL ACCOUNTING METHODS FOR PREPARATION OF QUARTERLY CONSOLIDATEDFINANCIAL STATEMENTS) .................................................................................................................... - 11 (ADDITIONAL INFORMATION) ........................................................................................................................ - 11 (SEGMENT INFORMATION) ........................................................................................................................... - 12 --1-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)

1. Qualitative Information on Consolidated Financial Results for the First Three Months of FY2020(April 1, 2020 to June 30, 2020)(1) Explanation of Operating Results
During the first three months of the fiscal year ending March 31, 2021, the Japanese economy continued
to face a difficult situation due to the impact of the new corona virus infection (COVID-19), but recently
there have been signs of recovery. Looking ahead, it is expected that the recovery trend will continue due tothe effects of various policies, while taking measures to prevent the further spread of the infection andgradually raising the level of social and economic activities. However, it is important to prudently monitor
the situation including the impact of COVID-19 on domestic and international economy and the volatility ofcapital markets.
Under these economic conditions, the airline industry has been suffering from a fall in demand for air
travel due to the impact of COVID-19, and the situation continues to be challenging. For domestic flights at
Haneda Airport, the number of passengers in April and May during the declaration of a state of emergency
period decreased by more than 90% compared to the same month of the previous year. The declaration of astate of emergency was later lifted, and voluntary refrain on travel to other prefectures has been eased sinceJune 19th, helping the demand for air travel to gradually recover. However, the number of passengers in Junealso fell significantly below the previous year's level. For international flights, due to the spread of
COVID-19, Japan continues to take measures including tighter quarantines as well as visa cancellations, andmany countries are also taking measures such as restriction of international travel, thus demand forinternational travel is stagnant worldwide. As a result, the number of international passengers at Haneda
Airport since April 2020 dropped by more than 95% from the previous year. International passenger volume
at international hub airports that we operate such as Narita Airport, has also continued to decline
significantly.
Under these circumstances, the Japan Airport Terminal Group (“JAT Group”) is taking measures toprevent the spread of COVID-19 in accordance with the “Guidelines for Prevention of the Spread of
COVID-19 in the Aviation Field.” With respect to facilities, we have worked to improve ventilation capacity,
placed hand sanitizer throughout the airport, introduced thermographic device at the entrance to the security
checkpoint to measure passenger body temperature, and installed plastic sheets to prevent droplet infection at
the information desk and stores within the airport. In addition, sanitization of hand contact areas (escalator
handrails, touch panels, etc.) has been reinforced on a daily basis, and masks are being distributed tocustomers who are not wearing them. We also introduced self-driving wheelchairs, remote guiding robots,and sanitization work robots that ensure social distance with our customers, and began to provide services
under the "new normal." As part of our commercial efforts, in response to the declaration of a state of
emergency, we have temporarily closed all of our directly-managed stores with a few exceptions, and asked
our tenants to temporarily close their stores as well. We have offered rent reduction and exemption for our
tenants since April.
In addition, we are implementing various cost-reduction measures in response to the significant drop in
operating revenues due to the impact of COVID-19. At Haneda Airport, facilities including the check-in
counters for departure and security checkpoints on the north side of Terminal 1 and the south side of Terminal
2 were temporarily closed from April 17th to June 30th for domestic flights due to the substantial cancellationof passenger flights, and for international flights, facilities including the security checkpoints on the northside of Terminal 3 and the international facilities of Terminal 2 are temporarily closed since March 23rd andsince April 11th respectively. As part of these efforts, operating and administrative costs were reduced byturning off lights and shutting down escalators and elevators in the temporary closed areas. We have also
reduced fixed costs by cutting unnecessary and non-urgent costs and partially reducing executive
compensation, as well as reviewing outsourcing costs such as cleaning and security costs and making someof the operation in-house. We will continue to make efforts to further reduce costs.
From a financial perspective, we raised approximately ¥25.0 billion in long-term loans to cover theconstruction cost of the international flight terminal and related facilities, and we also raised ¥5.0 billion in
long-term loans to secure liquidity on hand. Furthermore, we secured a short-term borrowing facility of ¥20.0
billion, in addition to an existing commitment line of ¥9.0 billion, in order to secure the funds necessary tocontinue our business. We are taking other measures to avoid the risk of insufficient funds due to our revenue
decline including deferral of usage fee on government-owned properties and use of subsidies for employment
adjustment.
The JAT Group has aspired to best satisfy the needs of all stakeholders. To create business and revenue
generation opportunities and achieve sustainable growth, we have set our long-term vision “To be a WorldBest Airport.” Based on this objective, we have developed a medium-term business plan (FY2016 – FY2020),
involving three strategic pillars: 1) Pursuit of the ideal of Haneda Airport, 2) Expansion of our businessdomain utilizing our strengths and the diversification of profits, and 3) Reconstruction of our profit base andthe building of competitive advantages. As a practical foundation for implementing such strategy, we have-2-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)

been reorganizing our corporate structure and enhancing corporate governance. However, the impact of
COVID-19 has significantly changed the business environment that the medium-term business plan was basedon. Furthermore, society as a whole is shifting to the “new normal,” and the JAT Group recognizes thenecessity to fundamentally review the way it operates its airport terminals, with ideas that are not bound by theconventional framework.
In the current fiscal year, we will continue our efforts from the previous fiscal year to promote “FASTTRAVEL” and “One ID” for international flights at Haneda Airport with the aim of achieving stress-free andcomfortable boarding procedures by utilizing state-of-the-art technology. We are also working to develop andcommercialize the three types of aforementioned robots and other new services in response to the “newnormal.” With respect to our commercial efforts, to secure a revenue stream that will not be affected by atemporary decline in passenger volume, we will strengthen our marketing activities by taking advantage ofHaneda Airport as the transportation hub and our e-commerce business and establish a new organization to
integrate physical stores with online operations. Other businesses, both inside and outside Haneda Airport, inwhich we are participating include the operations of the entire airport in addition to the passenger terminalbuilding that we were already operating at Kumamoto Airport that began in April, and the opening of the“HANEDA INNOVATION CITY,” a large-scale complex in Haneda Airport site 1st zone in July among others.
As a result of the above, with respect to consolidated financial results for the first three months of the
fiscal year ending March 31, 2021, operating revenues were ¥8,767 million (down 87.0% year-on-year) due tosignificant decline in revenue from facility user charges, merchandise sales, and food and beverage sales
because of the substantial decrease in passenger volume for domestic and international flights caused by the
impact of COVID-19. As a result of the fall in revenue, operating loss was ¥17,467 million (compared tooperating income of ¥5,886 million during the same period of the previous fiscal year), coupled with increase indepreciation expense of Haneda’s international facilities that commenced operation last fiscal year despite
implementing various cost reduction measures. Ordinary loss was ¥18,840 million (compared to ordinary
income of ¥5,646 million during the same period of the previous fiscal year), and quarterly net loss attributableto owners of the parent was ¥9,710 million (compared to quarterly net income attributable to owners of theparent of ¥3,082 million during the same period of the previous fiscal year).
(Millions of yen)

Operating Results

First Three Months of FY2019(ended June 30, 2019)

First Three Months of FY2020(ended June 30, 2020)

Year-on-Year(%)

67,652
20,69841,907
5,047
5,886
5,646

8,767
7,128
1,296
342
(17,467)(18,840)

-87.0
-65.6
-96.9
-93.2
-

3,082

(9,710)-Operating revenues[Facilities Management][Merchandise Sales][Food and Beverage]
Operating income
Ordinary income
Quarterly net income attributable toowners of the parent

In May 2020, Haneda Airport’s passenger terminals were awarded second place globally in the “World’s
Best Airports” by Skytrax (UK) for the second consecutive year, which comprehensively evaluates various
aspects of international airports in 2020. Furthermore, we were awarded first place in the World's Cleanest
Airports (for the fifth consecutive year), World's Best Domestic Airports (for the eighth consecutive year), andWorld's Best PRM / Accessible Facilities (for the second consecutive year).
It remains difficult to predict when the outbreak of COVID-19 will be contained, as well as to have a clear
outlook for a subsequent recovery in demand for air travel. However, with respect to domestic flights, efforts tostimulate demand of domestic tourism are underway, and many routes are scheduled to be resumed as part ofthe passenger flight schedule from August onward. With respect to international flights, discussions with othercountries are taking place to resume people’s international travel in incremental steps while expanding the PCR
testing system. In light of these efforts, the JAT Group will continue to ensure the safety of passengers using
Haneda Airport and operate the passenger terminal to appropriately respond to the recovering demand. In thelong-term, we expect a steady increase in demand for air travel, and we will continue to work towards
increasing the value of Haneda Airport by further improving the convenience, functionality, and comfort of
the terminal buildings as the sky gateway to Japan and the Tokyo metropolitan area.
The following is a breakdown of earnings / (loss) by segment. Note that the figures for operating income /(loss) are equivalent to those for segment income / (loss).

-3-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)

Overview by Segment[Facilities Management](Millions of yen)

Operating Results

First Three Months of FY2019(ended June 30, 2019)

First Three Months of FY2020(ended June 30, 2020)

Year-on-Year(%)

20,698
4,452
10,8615,385
1,187
21,885
4,063

7,128
3,888
1,015
2,224
360
7,488
(10,958)

-65.6
-12.7
-90.7
-58.7
-69.6
-65.8
-

Facilities Management
Rent revenue
Facility user charges revenue
Other revenues
Intersegment sales and transfers
Total of Operating Revenues
Segment income

Rent revenue decreased from the same period of the previous year primarily due to rent reductions andexemptions offered to tenants due to requests for temporary closure in response to the declaration of a state of
emergency, despite an increase in revenue coming from the floor expansion of office space on the north side ofTerminal 2 in October 2019.
Revenue from facility user charges fell significantly below the same period of the previous year due to adrop in user charges because of the substantial decrease in passenger volume for domestic and international
flights caused by the impact of COVID-19.
Other revenues fell significantly below the same period of the previous year due to the decline in parking
revenue, paid lounge sales, hotel revenue and advertising revenue as a result of the slump in passenger
volume.
As a result, operating revenues from facilities management operations decreased to ¥7,488 million (down
65.8% year-on-year). Operating loss for the segment was ¥10,958 million (compared to operating income of¥4,063 million during the same period of the previous fiscal year) primarily due to the drop in revenue and theincrease in depreciation expense after the opening of Haneda Airport Terminal 2 international facilities andexpansion part of Terminal 3.
[Merchandise Sales](Millions of yen)

Operating Results

First Three Months of FY2019(ended June 30, 2019)

First Three Months of FY2020(ended June 30, 2020)

Year-on-Year(%)

41,907
8,509

1,296
742

-96.9
-91.3

24,447

209

-99.1

8,949
230
42,137
3,898

344
203
1,499
(3,246)

-96.2
-11.6
-96.4
-

Merchandise Sales
Sales at domestic terminal stores
Sales at international terminal
storesOther revenues
Intersegment sales and transfers
Total of Operating Revenues
Segment income

Sales at domestic terminal stores significantly decreased from the same period of the previous year
because of the fall in revenues due to the drop in passenger volume resulting from the impact of COVID-19
and temporary closure of our directly-managed stores during and around the declaration of a state of
emergency period. The directly-managed stores that have been temporarily closed have resumed operations
since June, in line with recovering passenger trends.
Sales at international terminal stores significantly decreased from the same period of the previous year
primarily due to temporary closures of our directly-managed stores at each airport and airport-style in-city
duty-free shop “Japan Duty Free Ginza,” in addition to the substantial decrease in international passenger
volume. Some of the stores including TIAT DUTY FREE SHOP CENTRAL at Haneda Airport Terminal 3
have changed their opening hours and continue to operate, but merchandise sales continue to face difficulty.
Other revenues significantly decreased from the same period of the previous year because of the decreasein the wholesaling business at each local airport due to the drop in passenger volume caused by the impact of
COVID-19.
As a result, operating revenues from merchandise sales operations dropped to ¥1,499 million (down
96.4% year-on-year) and operating loss was ¥3,246 million (compared to operating income of ¥3,898 million
during the same period of the previous fiscal year).
-4-Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)[Food and Beverage](Millions of yen)

Operating Results

First Three Months of FY2019(ended June 30, 2019)

First Three Months of FY2020(ended June 30, 2020)

Year-on-Year
(%)

5,047

342

-93.2

3,094

258

-91.6

1,739
212
627
5,674
230

24
59
247
590
(1,329)

-98.6
-71.8
-60.5
-89.6
-

Food and Beverage
Sales from food and beverage
storesSales from in-flight meals
Other revenues
Intersegment sales and transfers
Total of Operating Revenues
Segment income

Sales from food and beverage operations significantly fell from the same period of the previous year
primarily due to the temporary closure of food and beverage shops at domestic and international terminals
because of the slump in passenger volume caused by the impact of COVID-19.
Sales from in-flight meals significantly fell from the same period of the previous year due to a significant
decline in passenger volume because of the cancellation and reduction of flights to Narita and Haneda bymany of the foreign carriers, our clients in this business.
As a result, operating revenues from food and beverage operations dropped to ¥590 million (down 89.6%
year-on-year) and operating loss for the segment was ¥1,329 million (compared to operating income of ¥230
million during the same period of the previous fiscal year).
(2) Explanation of Financial Position[Assets]
Current assets decreased primarily due to the decrease in accounts receivable because of the decline inoperating revenues despite the increase in cash and deposits. Fixed assets decreased primarily due to thedepreciation of buildings and structures. As a result, total assets decreased by ¥19,801 million from theprevious fiscal year end to ¥501,561 million.
[Liabilities]
Liabilities decreased primarily due to payment of accrued construction expense and decrease of accounts
payable while the Company raised approximately ¥30.0 billion through long-term loans. As a result, total
liabilities decreased by ¥5,036 million from the previous fiscal year end to ¥314,427 million.
[Net Assets]
Dividend distribution was made, and quarterly loss decreased retained earnings and non-controllinginterests. As a result, total net assets decreased by ¥14,765 million from the previous fiscal year end to¥187,134 million.
As a result, the equity ratio was 30.2% (compared to 31.2% at the previous fiscal year end).
(3) Explanation of Consolidated Financial Forecasts and Other Forward-looking Statements
Since it is difficult to determine an outlook for the recovery in demand of both domestic and international air
travel due to the impact of COVID-19, we have again decided to postpone the announcement of our earnings
forecast for the fiscal year ending March 31, 2021. We will announce our consolidated earnings forecast in the
future as soon as when conditions are such that it becomes possible to disclose a reasonable estimate.
We have also decided to postpone the announcement of the outlook for dividend payment for the fiscal
year ending March 31, 2021 which will be announced together with the earnings forecast in the future.

-5-

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheets(Millions of yen)

ASSETS
Current assets
Cash and deposits
Accounts receivable
Merchandise and finished products
Raw materials and stored goods
Other current assets
Allowance for doubtful accounts
Total current assets
Fixed assets
Tangible fixed assets
Buildings and structures
Accumulated depreciation and impairment loss
Buildings and structures (net)
Machinery, equipment and vehicles
Accumulated depreciation and impairment loss
Machinery, equipment and vehicles (net)Land
Lease assets
Accumulated depreciation and impairment loss
Lease assets (net)
Construction in progress
Other tangible fixed assets
Accumulated depreciation and impairment loss
Other tangible fixed assets (net)Total tangible fixed assets
Intangible fixed assets
Leasehold right
Other intangible fixed assets
Total intangible fixed assets
Investments and other assets
Investment securities
Deferred tax assets
Net defined benefit assets
Other investments
Total investments and other assets
Total fixed assets
TOTAL ASSETS-6-

FY2019(As of March 31, 2020)

First Three Months of
FY2020(As of June 30, 2020)

71,958
8,924
13,440146
19,797(18)
114,248

76,797
2,915
13,463
320
9,183
(17)
102,662

552,854(277,692)
275,162
37,743(15,266)
22,476
12,881
3,622
(965)
2,657
6,258
67,111(50,994)
16,116
335,551

553,708(283,585)
270,123
35,915(15,980)
19,934
12,881
3,392
(747)
2,644
5,918
67,303(52,023)
15,280326,783

35,205
3,614
38,82034,744
3,403
38,14820,082
8,748
387
3,523
32,742
407,114521,363

18,657
11,309413
3,586
33,967
398,899
501,561

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)(Millions of yen)

LIABILITIESCurrent liabilities
Accounts payable
Short-term loans payable
Accrued expenses
Income taxes payable
Allowance for employees’ bonuses
Allowance for directors’ bonuses
Other current liabilities
Total current liabilities
Fixed liabilities
Bonds
Bonds with stock acquisition rights
Long-term loans payable
Lease obligations
Deferred tax liabilities
Allowance for directors’ retirement benefits
Net defined benefit liabilities
Asset retirement obligations
Other fixed liabilities
Total fixed liabilities
TOTAL LIABILITIESNET ASSETS
Shareholders’ equity
Common stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
TOTAL NET ASSETSTOTAL LIABILITIES AND NET ASSETS-7-

FY2019(As of March 31, 2020)

First Three Months of
FY2020(As of June 30, 2020)

3,261
13,646
8,736
1,517
1,635
186
35,34364,327621
15,624
6,982
490
648
0
10,13434,50250,98515,020161,011
2,402
13,357
55
4,141
486
7,675
255,136
319,464

50,95015,017
188,808
2,333
10,134
59
4,048
487
8,085
279,925
314,427

17,48921,337
123,451(3,248)159,029

17,48921,337112,928(3,248)148,506

3,637

3,342

609
37
(708)
3,575
39,294
201,899
521,363

454
33
(615)
3,215
35,412
187,134
501,561

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive
IncomeQuarterly Consolidated Statements of Income(Millions of yen)

Operating revenues
Rent revenue
Facility user charges revenue
Other revenues
Sale of merchandise
Sale of food and beverage
Total operating revenues
Cost of sales
Cost of sales of merchandise
Cost of sales of food and beverage
Total cost of sales
Gross profit
Selling, general and administrative expenses
Salaries and wages
Provision for employees’ bonuses
Provision for directors’ bonuses
Expenses for retirement benefits
Rent expenses
Outsourcing and commission
Depreciation expenses
Other costs and expenses
Total selling, general and administrative expenses
Operating income / (loss)
Non-operating income
Interest income
Dividends income
Equity in earnings of affiliates
Subsidies for employment adjustment
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Loss on retirement of fixed assets
Equity in losses of affiliates
Miscellaneous expenses
Total non-operating expenses
Ordinary income / (loss)-8-

First Three Months of
FY2019(from April 1, 2019
to June 30, 2019)

First Three Months of
FY2020(from April 1, 2020
to June 30, 2020)

4,452
10,861
5,443
41,8495,047
67,652

3,888
1,015
2,266
1,252
344
8,767

29,324
2,668
31,99235,659

992
640
1,633
7,133

2,956
827
62
223
4,218
7,379
6,352
7,752
29,773
5,886

2,672
380
0
244
2,938
3,243
8,556
6,564
24,600(17,467)

6
249
48
285
589

2
152
172
232
560

728
78
22
829
5,646

826
111
971
24
1,933
(18,840)

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)(Millions of yen)

Extraordinary gains
Government subsidies
Total extraordinary gains
Extraordinary loss
Loss on reduction entry of fixed assets
Total extraordinary loss
Quarterly income / (loss) before income taxes andnon-controlling interests
Income taxes – current
Quarterly income / (loss)
Quarterly net income / (loss) attributable to non-controllinginterests
Quarterly net income / (loss) attributable to owners of theparent-9-First Three Months of
FY2019(from April 1, 2019
to June 30, 2019)

First Three Months of
FY2020(from April 1, 2020
to June 30, 2020)

99
99

3,902
3,902

－
－

3,817
3,817

5,746

(18,755)

1,730
4,016

(5,337)(13,417)933(3,706)

3,082(9,710)Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)

Quarterly Consolidated Statements of Comprehensive Income(Millions of yen)

Quarterly income / (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains (losses) on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Share of other comprehensive income of associates
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:Comprehensive income attributable to owners of theparentComprehensive income attributable to non-controllinginterests- 10 -First Three Months of
FY2019(from April 1, 2019
to June 30, 2019)
4,016

First Three Months of
FY2020(from April 1, 2020
to June 30, 2020)(13,417)

(284)
(156)
(1)
34

(296)
(303)
(4)
93

3

4

(404)
3,611

(505)
(13,923)

2,758(10,071)853(3,851)

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)(3) Notes on Quarterly Consolidated Financial Statements(Notes on the Premise of a Going Concern)
Not applicable(Notes on a Significant Change in Shareholders’ Equity)
Not applicable(Adoption of Special Accounting Methods for Preparation of Quarterly Consolidated Financial Statements)
Calculation of tax expenses
The effective tax rate on income before taxes for the consolidated fiscal year including the first quarter after theapplication of tax effect accounting is reasonably estimated, and that estimated rate is applied to net income forthe quarterly period to calculate estimated tax expenses. However, in cases where the use of such an estimatedeffective tax rate would result in a significant lack of rationality, the statutory effective tax rate is applied.
(Additional Information)
Accounting estimates with respect to the impact of the spread of COVID-19
There have been no material changes made to the assumptions, including the timing when the spread of
COVID-19 will be contained, described in the Securities Report for the fiscal year ended March 31, 2020.

- 11 -

Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)(Segment Information)
Segment Information
I.

First three months of FY2019 (from April 1, 2019 to June 30, 2019)
1. Sales and income (loss) by reportable segment(Millions of yen)

Reportable segments

Operating revenues
Sales to externalcustomers
Intersegment sales
and transfers
Total
Segment income(Notes)Adjustments

Food andBeverage

Quarterly
consolidated
financialstatements Note 2

Facilities
Management

Merchandise
Sales

20,69841,907

5,047

67,652-67,652

1,187

230

627

2,044

(2,044)-

21,885
4,063

42,137
3,898

5,674
230

69,697
8,192(2,044)(2,306)67,652
5,886

Note 1Total

1. Adjustments to the segment income include ¥2,306 million of administration expenses for administration divisions at parent company’shead office and some of the subsidiaries which are not allocated to each of the reportable segments.
2. Segment income is adjusted with operating income recorded in the Quarterly Consolidated Statements of Income.

2. Information on impairment loss on fixed assets and goodwill, etc., by reportable segment
Not applicable

II. First three months of FY2020 (from April 1, 2020 to June 30, 2020)
1. Sales and income (loss) by reportable segment(Millions of yen)

Reportable segments

Operating revenues
Sales to externalcustomers
Intersegment sales
and transfers
Total
Segment income/(loss)(Notes)Adjustments

Food andBeverage

Quarterly
consolidated
financialstatements Note 2

Facilities
Management

Merchandise
Sales

7,128

1,296

342

8,767

-

8,767

360

203

247

811

(811)

-

7,488
(10,958)

1,499(3,246)590(1,329)9,578(15,535)(811)(1,932)

8,767(17,467)

Note 1Total

1. Adjustments to the segment income include ¥1,933 million of administration expenses for administration divisions at parent company’shead office and some of the subsidiaries which are not allocated to each of the reportable segments.
2. Segment income is adjusted with operating income recorded in the Quarterly Consolidated Statements of Income.

2. Information on impairment loss on fixed assets and goodwill, etc., by reportable segment
Not applicable- 12 -