Japan Airport Terminal : Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)
08/17/2020 | 01:53am EST
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.
Supplementary materials on financial results (yes/no)
No
Holding of quarterly earnings announcement (yes/no)
No
(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)
(%: Change from the same period of the previous year)
Operating revenues
Operating income
Ordinary income
Net income attributable to
owners of the parent
First Three
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Months of
FY2020
8,767
-87.0
(17,467)
-
(18,840)
-
(9,710)
-
FY2019
67,652
-0.7
5,886
-8.0
5,646
-7.7
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%)
Net income per
Diluted net income
share
per share
First Three
Yen
Yen
Months of
FY2020
(119.55)
-
FY2019
37.95
36.20
(2) Consolidated Financial Position
Total assets
Net assets
Equity capital to
Net assets per share
total assets
Millions of yen
Millions of yen
%
Yen
As of June 30, 2020
501,561
187,134
30.2
1,867.85
As of March 31, 2020
521,363
201,899
31.2
2,001.83
(Reference) Equity capital:
As of June 30, 2020 ¥151,721 million As of March 31, 2020
¥162,605 million
2. Dividends
Dividends per share
Q1-End
Q2-End
Q3-End
Year-End
Annual
Yen
Yen
Yen
Yen
Yen
FY2019
-
22.00
-
10.00
32.00
FY2020
-
FY2020 (Forecast)
-
-
-
-
(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 new corona 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 to disclose a reasonable estimate.
* Notes
Significant changes in subsidiaries during the period under review (changes in specified subsidiaries involving changes in scope of consolidation): No
New: NoneExcluded: 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
Notes on Quarterly Consolidated Financial Statements: Adoption of Special Accounting Methods for Preparation of Quarterly Consolidated Financial Statements".
Changes in accounting policies, accounting estimates, and restatement of revisions
Changes in accounting policies due to revisions of accounting standards, etc.: None
Changes in accounting policies other than 1) above: None
Changes in accounting estimates: None
Restatement of revisions: None
Number of shares outstanding (common stock)
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
84,476,500 shares
2)
Number of treasury stock at the period-end:
As of June 30, 2020
3,248,371 shares
As of March 31, 2020
3,248,324 shares
3)
Average number of shares outstanding (quarterly consolidated cumulative period):
First quarter of FY2020
81,228,137 shares
First quarter of FY2019
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 new corona 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 -
EXPLANATION OF CONSOLIDATED FINANCIAL FORECASTS AND OTHER FORWARD-LOOKINGSTATEMENTS- 5
-
2. QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS AND NOTES ......................................................
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 to the effects of various policies, while taking measures to prevent the further spread of the infection and gradually 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 of capital 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 a state of emergency was later lifted, and voluntary refrain on travel to other prefectures has been eased since June 19th, helping the demand for air travel to gradually recover. However, the number of passengers in June also 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, and many countries are also taking measures such as restriction of international travel, thus demand for international 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 to prevent 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 to customers 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 cancellation of passenger flights, and for international flights, facilities including the security checkpoints on the north side of Terminal 3 and the international facilities of Terminal 2 are temporarily closed since March 23rd and since April 11th respectively. As part of these efforts, operating and administrative costs were reduced by turning 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 some of 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 the construction 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 to continue 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 World Best 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 business domain utilizing our strengths and the diversification of profits, and 3) Reconstruction of our profit base and the building of competitive advantages. As a practical foundation for implementing such strategy, we have
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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 based on. Furthermore, society as a whole is shifting to the "new normal," and the JAT Group recognizes the necessity to fundamentally review the way it operates its airport terminals, with ideas that are not bound by the conventional framework.
In the current fiscal year, we will continue our efforts from the previous fiscal year to promote "FAST TRAVEL" and "One ID" for international flights at Haneda Airport with the aim of achieving stress-free and comfortable boarding procedures by utilizing state-of-the-art technology. We are also working to develop and commercialize the three types of aforementioned robots and other new services in response to the "new normal." With respect to our commercial efforts, to secure a revenue stream that will not be affected by a temporary decline in passenger volume, we will strengthen our marketing activities by taking advantage of Haneda 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, in which we are participating include the operations of the entire airport in addition to the passenger terminal building 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 to significant 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 to operating income of ¥5,886 million during the same period of the previous fiscal year), coupled with increase in depreciation 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 attributable to owners of the parent was ¥9,710 million (compared to quarterly net income attributable to owners of the parent of ¥3,082 million during the same period of the previous fiscal year).
(Millions of yen)
Operating Results
First Three Months of FY2019
First Three Months of FY2020
Year-on-Year
(ended June 30, 2019)
(ended June 30, 2020)
(%)
Operating revenues
67,652
8,767
-87.0
[Facilities Management]
20,698
7,128
-65.6
[Merchandise Sales]
41,907
1,296
-96.9
[Food and Beverage]
5,047
342
-93.2
Operating income
5,886
(17,467)
-
Ordinary income
5,646
(18,840)
-
Quarterly net income attributable to
3,082
(9,710)
-
owners 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), and World'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 to stimulate demand of domestic tourism are underway, and many routes are scheduled to be resumed as part of the passenger flight schedule from August onward. With respect to international flights, discussions with other countries 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 the long-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).
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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
First Three Months of FY2020
Year-on-Year
(ended June 30, 2019)
(ended June 30, 2020)
(%)
Facilities Management
20,698
7,128
-65.6
Rent revenue
4,452
3,888
-12.7
Facility user charges revenue
10,861
1,015
-90.7
Other revenues
5,385
2,224
-58.7
Intersegment sales and transfers
1,187
360
-69.6
Total of Operating Revenues
21,885
7,488
-65.8
Segment income
4,063
(10,958)
-
Rent revenue decreased from the same period of the previous year primarily due to rent reductions and exemptions 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 of Terminal 2 in October 2019.
Revenue from facility user charges fell significantly below the same period of the previous year due to a drop 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 the increase in depreciation expense after the opening of Haneda Airport Terminal 2 international facilities and expansion part of Terminal 3.
[Merchandise Sales]
(Millions of yen)
Operating Results
First Three Months of FY2019
First Three Months of FY2020
Year-on-Year
(ended June 30, 2019)
(ended June 30, 2020)
(%)
Merchandise Sales
Sales at domestic terminal stores Sales at international terminal stores
Other revenues
41,907
1,296
-96.9
8,509
742
-91.3
24,447
209
-99.1
8,949
344
-96.2
Intersegment sales and transfers
230
203
-11.6
Total of Operating Revenues
42,137
1,499
-96.4
Segment income
3,898
(3,246)
-
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-stylein-cityduty-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 decrease in 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).
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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
First Three Months of FY2020
Year-on-Year
(ended June 30, 2019)
(ended June 30, 2020)
(%)
Food and Beverage
Sales from food and beverage stores
Sales from in-flight meals Other revenues
5,047
342
-93.2
3,094
258
-91.6
1,739
24
-98.6
212
59
-71.8
Intersegment sales and transfers
627
247
-60.5
Total of Operating Revenues
5,674
590
-89.6
Segment income
230
(1,329)
-
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 by many 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).
Explanation of Financial Position [Assets]
Current assets decreased primarily due to the decrease in accounts receivable because of the decline in operating revenues despite the increase in cash and deposits. Fixed assets decreased primarily due to the depreciation of buildings and structures. As a result, total assets decreased by ¥19,801 million from the previous 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-controlling interests. 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.
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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)
FY2019
First Three Months of
(As of March 31, 2020)
FY2020
(As of June 30, 2020)
ASSETS
Current assets
Cash and deposits
71,958
76,797
Accounts receivable
8,924
2,915
Merchandise and finished products
13,440
13,463
Raw materials and stored goods
146
320
Other current assets
19,797
9,183
Allowance for doubtful accounts
(18)
(17)
Total current assets
114,248
102,662
Fixed assets
Tangible fixed assets
Buildings and structures
552,854
553,708
Accumulated depreciation and impairment loss
(277,692)
(283,585)
Buildings and structures (net)
275,162
270,123
Machinery, equipment and vehicles
37,743
35,915
Accumulated depreciation and impairment loss
(15,266)
(15,980)
Machinery, equipment and vehicles (net)
22,476
19,934
Land
12,881
12,881
Lease assets
3,622
3,392
Accumulated depreciation and impairment loss
(965)
(747)
Lease assets (net)
2,657
2,644
Construction in progress
6,258
5,918
Other tangible fixed assets
67,111
67,303
Accumulated depreciation and impairment loss
(50,994)
(52,023)
Other tangible fixed assets (net)
16,116
15,280
Total tangible fixed assets
335,551
326,783
Intangible fixed assets
Leasehold right
35,205
34,744
Other intangible fixed assets
3,614
3,403
Total intangible fixed assets
38,820
38,148
Investments and other assets
Investment securities
20,082
18,657
Deferred tax assets
8,748
11,309
Net defined benefit assets
387
413
Other investments
3,523
3,586
Total investments and other assets
32,742
33,967
Total fixed assets
407,114
398,899
TOTAL ASSETS
521,363
501,561
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Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)
(Millions of yen)
FY2019
First Three Months of
(As of March 31, 2020)
FY2020
(As of June 30, 2020)
LIABILITIES
Current liabilities
Accounts payable
3,261
621
Short-term loans payable
13,646
15,624
Accrued expenses
8,736
6,982
Income taxes payable
1,517
490
Allowance for employees' bonuses
1,635
648
Allowance for directors' bonuses
186
0
Other current liabilities
35,343
10,134
Total current liabilities
64,327
34,502
Fixed liabilities
Bonds
50,985
50,950
Bonds with stock acquisition rights
15,020
15,017
Long-term loans payable
161,011
188,808
Lease obligations
2,402
2,333
Deferred tax liabilities
13,357
10,134
Allowance for directors' retirement benefits
55
59
Net defined benefit liabilities
4,141
4,048
Asset retirement obligations
486
487
Other fixed liabilities
7,675
8,085
Total fixed liabilities
255,136
279,925
TOTAL LIABILITIES
319,464
314,427
NET ASSETS
Shareholders' equity
Common stock
17,489
17,489
Capital surplus
21,337
21,337
Retained earnings
123,451
112,928
Treasury stock
(3,248)
(3,248)
Total shareholders' equity
159,029
148,506
Accumulated other comprehensive income
Valuation difference on available-for-sale
3,637
3,342
securities
Deferred gains or losses on hedges
609
454
Foreign currency translation adjustment
37
33
Remeasurements of defined benefit plans
(708)
(615)
Total accumulated other comprehensive income
3,575
3,215
Non-controlling interests
39,294
35,412
TOTAL NET ASSETS
201,899
187,134
TOTAL LIABILITIES AND NET ASSETS
521,363
501,561
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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 Income and Quarterly Consolidated Statements of Comprehensive Income
Quarterly Consolidated Statements of Income
(Millions of yen)
First Three Months of
First Three Months of
FY2019
FY2020
(from April 1, 2019
(from April 1, 2020
to June 30, 2019)
to June 30, 2020)
Operating revenues
Rent revenue
4,452
3,888
Facility user charges revenue
10,861
1,015
Other revenues
5,443
2,266
Sale of merchandise
41,849
1,252
Sale of food and beverage
5,047
344
Total operating revenues
67,652
8,767
Cost of sales
Cost of sales of merchandise
29,324
992
Cost of sales of food and beverage
2,668
640
Total cost of sales
31,992
1,633
Gross profit
35,659
7,133
Selling, general and administrative expenses
Salaries and wages
2,956
2,672
Provision for employees' bonuses
827
380
Provision for directors' bonuses
62
0
Expenses for retirement benefits
223
244
Rent expenses
4,218
2,938
Outsourcing and commission
7,379
3,243
Depreciation expenses
6,352
8,556
Other costs and expenses
7,752
6,564
Total selling, general and administrative expenses
29,773
24,600
Operating income / (loss)
5,886
(17,467)
Non-operating income
Interest income
6
2
Dividends income
249
152
Equity in earnings of affiliates
48
-
Subsidies for employment adjustment
-
172
Miscellaneous income
285
232
Total non-operating income
589
560
Non-operating expenses
Interest expenses
728
826
Loss on retirement of fixed assets
78
111
Equity in losses of affiliates
-
971
Miscellaneous expenses
22
24
Total non-operating expenses
829
1,933
Ordinary income / (loss)
5,646
(18,840)
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Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)
(Millions of yen)
First Three Months of
First Three Months of
FY2019
FY2020
(from April 1, 2019
(from April 1, 2020
to June 30, 2019)
to June 30, 2020)
Extraordinary gains
Government subsidies
99
3,902
Total extraordinary gains
99
3,902
Extraordinary loss
Loss on reduction entry of fixed assets
－
3,817
Total extraordinary loss
－
3,817
Quarterly income / (loss) before income taxes and
5,746
(18,755)
non-controlling interests
Income taxes - current
1,730
(5,337)
Quarterly income / (loss)
4,016
(13,417)
Quarterly net income / (loss) attributable to non-controlling
933
(3,706)
interests
Quarterly net income / (loss) attributable to owners of the
3,082
(9,710)
parent
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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)
First Three Months of
First Three Months of
FY2019
FY2020
(from April 1, 2019
(from April 1, 2020
to June 30, 2019)
to June 30, 2020)
Quarterly income / (loss)
4,016
(13,417)
Other comprehensive income
Valuation difference on available-for-sale securities
(284)
(296)
Deferred gains (losses) on hedges
(156)
(303)
Foreign currency translation adjustment
(1)
(4)
Remeasurements of defined benefit plans
34
93
Share of other comprehensive income of associates
3
4
accounted for using equity method
Total other comprehensive income
(404)
(505)
Comprehensive income
3,611
(13,923)
Comprehensive income attributable to:
Comprehensive income attributable to owners of the
2,758
(10,071)
parent
Comprehensive income attributable to non-controlling
853
(3,851)
interests
- 10 -
Japan Airport Terminal Co., Ltd. (9706) Financial Report for the First Quarter of the Fiscal Year Ending March 31, 2021 (FY2020)
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 the application of tax effect accounting is reasonably estimated, and that estimated rate is applied to net income for the quarterly period to calculate estimated tax expenses. However, in cases where the use of such an estimated effective 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
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
Quarterly
Adjustments
consolidated
Facilities
Merchandise
Food and
Total
Note 1
financial
Management
Sales
Beverage
statements Note 2
Operating revenues
Sales to external
20,698
41,907
5,047
67,652
-
67,652
customers
Intersegment sales
1,187
230
627
2,044
(2,044)
-
and transfers
Total
21,885
42,137
5,674
69,697
(2,044)
67,652
Segment income
4,063
3,898
230
8,192
(2,306)
5,886
(Notes)
1. Adjustments to the segment income include ¥2,306 million of administration expenses for administration divisions at parent company's
head 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.
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)
Sales and income (loss) by reportable segment
(Millions of yen)
Reportable segments
Quarterly
Adjustments
consolidated
Facilities
Merchandise
Food and
Total
Note 1
financial
Management
Sales
Beverage
statements Note 2
Operating revenues
Sales to external
7,128
1,296
342
8,767
-
8,767
customers
Intersegment sales
360
203
247
811
(811)
-
and transfers
Total
7,488
1,499
590
9,578
(811)
8,767
Segment income/(loss)
(10,958)
(3,246)
(1,329)
(15,535)
(1,932)
(17,467)
(Notes) 1. Adjustments to the segment income include ¥1,933 million of administration expenses for administration divisions at parent company's head 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
Japan Airport Terminal Co. Ltd. published this content on 05 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2020 05:52:12 UTC
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